Automotive Cockpit Modules Market’ Size, Share, Growth, And Industry Analysis, By Type (Advanced Cockpit Modules, Basic Cockpit Modules and Automotive Cockpit Modules), By Application (Passenger Car and Commercial Vehicle), Regional Forecast By 2031

Updated On: 01 April 2024

Automotive Cockpit Modules Market Report Overview

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The global automotive cockpit modules market size was USD 84550 million in 2022, as per our research, the market is expected to reach USD 124,169.63 million in 2031, exhibiting a CAGR of 4.4% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the automotive cockpit modules market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The automotive cockpit modules are typically described as a complete pre-assembly of the dashboard's mechanical and electronic interfaces. Depending on the design of the cockpit and the VM's goal, different vehicle manufacturers will choose different parts to include as a part of the module. The instrument panel, centre console, and various control features, along with the wiring harness, instrument cluster, steering wheel, etc., are typically integrated into the automotive cockpit modules.

COVID-19 Impact: Pandemic Has a Negative Impact on Automotive Cockpit Modules to Market Growth

The limits on producers and the announced lockdowns are having a significant negative impact on the vendors in the automotive cockpit modules business worldwide, which in turn is having a negative impact on the automotive cockpit modules market manufacturers. The market for automotive cockpit modules is constrained by the coronavirus, and as a result, demand has suffered and is predicted to continue to decline as a result of the pandemic.

Most cockpit module producers are dealing with problems like factory closures and a lack of labor owing to lockdowns. Due to the pandemic, the impacted countries are imposing statewide lockdowns, which is disturbing the market's financial flow and causing a significant deviance in the growth of the nation's economy.

Latest Trends

"People are Becoming More Inclined to Use Connected Vehicle Technology to Enhance Market Growth"

Automobile manufacturers are putting more effort into improving cars that can communicate with other vehicles and gadgets, mostly to enhance the passenger experience. In order to increase passenger convenience and comfort, automakers and mobile operators are collaborating to provide technologies like remote vehicle monitoring via SIM cards. Furthermore, technology developments like connected cars, ADAS, and others have improved the ability of automobiles to communicate with both other vehicles and non-automotive devices such phones. Therefore, the market for automotive cockpit modules is anticipated to develop as connected car technology becomes more in-demand.

Automotive Cockpit Modules Market Segmentation

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• By Type Analysis

According to type, the automotive cockpit modules market can be segmented into Advanced Cockpit Modules, Basic Cockpit Modules and Automotive Cockpit Modules.

In terms of type, the Advanced Cockpit Modules is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the automotive cockpit modules market can be divided into Passenger Car and Commercial Vehicle.  

In terms of application, the passenger car market is projected to hold the largest market share through 2031.

Driving Factors

"The Demand for More In-Cabin Functionality and Customization to Increase Market Growth  "

Customer satisfaction is increased by in-car customization, without sacrificing the quality or safety of the vehicle. Owners of vehicles make decisions on what they want to say about their personal style. Different sorts of feature controls may be preferred by different drivers if they are arranged in the cabin in an ergonomic fashion. According to the needs of the driver’s, connected automobiles are providing new degrees of personalization, safety, control, and entertainment. Recently, companies have started merging infotainment systems, instrument clusters, and car displays to increase the penetration of automotive cockpit modules. To advance integration, changes must be made to the platform that enables such integration. Automobile assistants can also send push messages during traffic jams or delays while concurrently recommending a faster route in real-time. 

"The Idea of Autonomous Vehicles Developing is Another Factor Assisting the Market's Demand Expansion "

The idea of autonomous driving is being developed by many technological and automotive businesses. By the conclusion of the prediction period, self-driving cars may be a reality, and a significant number of them may be on the road within ten years. Majors in the automotive industry are already well on their way to making this a reality. Safety, performance, stability, and comfort are now part of the wide spectrum of OEM offers and consumer needs, and these aspects are always being improved upon. As a result, an increase in electronic content per vehicle as well as the electrification of vehicles are now necessary. The pace of software implementation in vehicle systems should rise as a result. These characteristics can contribute to expanding the automotive cockpit modules market in upcoming years. 

Restraining Factors

"The OEMs' Rising Cost Pressure will be a significant obstacle to the market's expansion."

The OEMs typically transfer the cost pressure—along with the danger of component failure and recall—to the relevant component makers. In terms of benefits, this puts tremendous pressure on tier-1 suppliers and component makers. Dynamic rules that were enforced on various car components have put enormous cost pressure on OEMs. Strict emission regulations were one of the elements that contributed to the significant cost pressures that OEMs were under. Due to market competition, OEMs must endure the increase in vehicle costs and are unable to pass these costs on to end users. They remain responsible for any such product failures or recalls, which can negatively affect the bottom line, as they must keep production costs to a minimum to satisfy demand-side requirements and deliver high-quality products at the same time.  

Automotive Cockpit Modules Market Regional Insights

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"The Asia Pacific Region will Dominate Market Due to Comfort and Luxury in Automobiles  "

The global automotive cockpit modules market is dominated by Asia Pacific. Additionally, it is anticipated that during the forecast period, this market will expand the fastest. This might be ascribed to the rising desire for comfort and luxury in automobiles as well as the region's increasing automobile production. The Asia Pacific area is now the greatest producer of automobile cars due to the accessibility of inexpensive production inputs and kind government policies. Due to this, the Asia Pacific region's need for automotive cockpit modules increased. The worldwide automotive cockpit modules market is expanding in part due to well-known automakers like Toyota, Honda, Maruti, and Hyundai.

Key Industry Players

"Adoption Experiential Marketing Services by Key Players Influencing Market Development"

The top key players in the market are Calsonic Kansei, DENSO, Hyundai Mobis, Toyoda Gosei, SAS Automotive Systems, Grupo Antolin, Samvardhana Motherson Group, Duckyang. Most of the top players hold the automotive cockpit modules market share in some regions. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the automotive cockpit modules market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the automotive cockpit modules market. 

List of Market Players Profiled

• Calsonic Kansei (Japan)
• DENSO (Japan)
• Hyundai Mobis (South Korea)
• Toyoda Gosei (Japan)
• SAS Automotive Systems (Germany)
• Grupo Antolin (Spain)
• Samvardhana Motherson Group (India)
• Duckyang (South Korea)
• Yanfeng Automotive Interiors (India)

Report Coverage

This report examines an understanding of the automotive cockpit modules market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.