Automotive Centre Console Global Market Report 2022

Automotive Centre Console Global Market Report 2022

  • May 2022 •
  • 175 pages •
  • Report ID: 6282411 •
  • Format: PDF
Major players in the automotive centre console market are AGM Automotive LLC, Alps Electric Co. Ltd, Calsonic Kansei Corp., Continental AG, Delphi Automotive plc, Emerson Electric Co., Faurecia S.A, Hyundai Mobis Co, Johnson Controls Inc., Lear Carporation, MVC Holdings LLC, Novem Car Interior design, Yanfeng Automotive, DRÄXLMAIER Group, and Grammer AG.

The global automotive centre console market is expected to grow from $27.01 billion in 2021 to $28.60 billion in 2022 at a compound annual growth rate (CAGR) of 5.91%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $37.79 billion in 2026 at a CAGR of 7.21%.

The automotive centre console market consists of sales of the automotive centre console by entities (organizations, sole traders, and partnerships), which refers to the storage compartment between the driver’s seat and the front passenger seat.It can also refer to the central parts of the dashboard.

In most modern cars, the centre console is located behind the gearstick. A central console can have many features such as electronic gadgetry and vehicle control information.

The main types of automotive centre consoles are touch screens, and buttons and controls.Touch screens in automobiles help the centre console to operate it only by touching it on the screen.

Buttons and controls can be operated physically by the switch devices to turn on and off.Automotive centre consoles are mainly used in passenger vehicles, premium cars, compact cars, mid-size cars, luxury cars, SUVs, and electric vehicles.

Automotive centre consoles are mainly sold through original equipment manufacturers and after market.

Asia Pacific was the largest region in the automotive centre console market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rapidly growing demand for electric vehicles is significantly contributing to the growth of the automotive centre console market.Safe, secure, and robust centre control systems are integral part of an electric car.

Centre consoles in electric cars are used for navigation and touch controls.As of 2020, there were 10 million electric vehicles on the roads globally.

In 2020, global electric car sales reached about 3 million, with new electric car registrations increasing by 40%. In countries such as China, the USA, and Europe sales of electric cars increased by 160% to 2.6 million units in the first half of 2021. Thus, the increasing demand for electric vehicles will drive the automotive centre console market.

Introduction of new technology in touch screens is a key trend gaining popularity in the automotive centre console market.Major companies operating in the market are focused on developing new technological solutions to strengthen their position.

For instance, in Jan 2021, Audi, a Germany-based automobile and car manufacturer, introduced its new touchpad system in the automotive centre console known as Audi MMI.This automotive centre console system has features such as swipe through menus, and can also be used for writing in letters, using the index finger, into the sat-nav.

MMI also features a digital instrument display, called the ‘Virtual Cockpit’, which is another high-definition digital screen in front of the steering wheel that replaces conventional analogue dials. With this type of technology, riders can easily control the vehicle and make driving safer.

In August 2021, Faurecia, a French automotive parts manufacturer, acquired Hella Inc. for a deal amount of $6.7 billion. Through this acquisition, Hella will be part of Faurecia and will operate under the Faurecia automobile division. Also, Faurecia aims to expand its market position, particularly in key growth areas such as automated driving and vehicle interior design. Hella is a Germany-based company that develops and manufactures automotive parts, accessories, diagnosis lighting and electronic components for cars.

The countries covered in the Automotive Centre Console market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.