Commercial Vehicle Instrument Cluster Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

The commercial vehicle instrument cluster market share is expected to increase by 3.78 million units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.94%.

This commercial vehicle instrument cluster market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial vehicle instrument cluster market segmentation by type (hybrid, digital, and analog) and geography (North America, Europe, APAC, South America, and MEA). The commercial vehicle instrument cluster market report also offers information on several market vendors, including BorgWarner Inc., Continental AG, DENSO Corp., Marelli Holdings Co. Ltd., Mitsubishi Electric Corp., Nippon Seiki Co. Ltd., Robert Bosch GmbH, Stoneridge Inc., Visteon Corp., and Yazaki Corp. among others.

What will the Commercial Vehicle Instrument Cluster Market Size be During the Forecast Period?

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Commercial Vehicle Instrument Cluster Market: Key Drivers, Trends, and Challenges

The digital instrument clusters are the future of autonomous trucks is notably driving the commercial vehicle instrument cluster market growth, although factors such as software integration challenges for digital instrument cluster may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial vehicle instrument cluster industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Commercial Vehicle Instrument Cluster Market Driver

The digital instrument clusters are the future of autonomous trucks are one of the key factors driving the growth of the global commercial vehicle instrument cluster market. The future of the truck industry is self-driving or autonomous trucks. The technology that has been used in autonomous Freightliner Inspiration trucks will reduce accidents, improve fuel consumption, cut highway congestion, and safeguard the environment. The Freightliner Inspiration truck was equipped with Daimler’s highway pilot control system. This system is similar to autopilot in an airliner. Once the truck reaches the highway, the driver will get a visual prompt in the instrument cluster to activate the highway pilot system. Once it is activated, the vehicle automatically switches to autonomous mode and adapts to the speed of traffic. Lane keeping and collision preventive functions are provided in this highway pilot system. The truck automatically follows speed limits, maintains a certain distance from the vehicle ahead, and follows the stop and go function. However, such autonomous driving vehicles are going to be a trend in the future, and digital clusters are going to drive these autonomous vehicles.

Key Commercial Vehicle Instrument Cluster Market Trend

The head-up display in commercial vehicles will fuel the global commercial vehicle instrument cluster market growth. Head-up display (HUD) is common in passenger cars, but this trend has been shifted to commercial vehicles. Continental offered this technology for passenger cars way back in 2003 and is now offering it for commercial vehicles. It has been installed in Continental InnovationTruck and has already proven itself in a 27,000- kilometer test. Driving information is provided to the driver in the form of a color image in his eye vision, which provides safety and comfort to the driver. CAN bus provides display information and has a huge range of options such as speed, warning signals, navigation instructions, traffic sign warnings, speed limits, gas tank level, etc. The safety of the driver and commercial vehicles increases with HUD because the driver need not take his view off the road as all the information gets into his field of view. Customers are also provided with an option to choose between the upper field or lower field of view. Moreover, HUD for commercial vehicles is available as a windshield HUD or as a combiner HUD with a display in the upper or the lower field of view for confined spaces with more steeply curved windshields.

Key Commercial Vehicle Instrument Cluster Market Challenge

The software integration challenges for digital instrument cluster is a major challenge for the global commercial vehicle instrument cluster market growth. Digital instrument clusters need a graphics controller for display. They also need a 32-bit CPU with a clock rate of at least 200 MHz because 8 - or 16-bit CPU cannot move many pixels. To feed virtual gauges, the cluster requires a CAN interface and one or more analog to digital converters (ADCs) to get information. Traditional embedded skill sets are required for analog clusters, but in the digital cluster, a real-time operating system (RTOS) is required to render the digital cluster’s graphics, and software expertise skill set should be beyond the traditional embedded skill set. Shelf RTOS is easy to use than roll-on-own OS while creating a digital instrument cluster because it is neither cost-efficient nor practical because software engineers need to call into a graphics library to draw gauges, indicators, text announcements, and other components and to simplify the implementation of a rolling odometer, menu systems. In the case of homegrown, to take advantage of third-party graphics or widgets, if the team wants to modify it, the complete source code should be provided by the framework vendor, which is not possible.

This commercial vehicle instrument cluster market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global commercial vehicle instrument cluster market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial vehicle instrument cluster market during the forecast period.

Who are the Major Commercial Vehicle Instrument Cluster Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• BorgWarner Inc.
• Continental AG
• DENSO Corp.
• Marelli Holdings Co. Ltd.
• Mitsubishi Electric Corp.
• Nippon Seiki Co. Ltd.
• Robert Bosch GmbH
• Stoneridge Inc.
• Visteon Corp.
• Yazaki Corp.

 

This statistical study of the commercial vehicle instrument cluster market encompasses successful business strategies deployed by the key vendors. The commercial vehicle instrument cluster market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• BorgWarner Inc. - The company offers a commercial vehicle instrument cluster under the Fuel Handling product line.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The commercial vehicle instrument cluster market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Commercial Vehicle Instrument Cluster Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the commercial vehicle instrument cluster market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global automotive components and accessories market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Commercial Vehicle Instrument Cluster Market?

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48% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for commercial vehicle instrument cluster market in North America. Market growth in this region will be faster than the growth of the market in regions.

The digital instrument clusters are the future of autonomous trucks will facilitate the commercial vehicle instrument cluster market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 resulted in temporary lockdowns and shutdown of several automotive component manufacturing plants in APAC and Europe. However, North American countries, especially the US and Canada, included automotive components and repair services under essential needs. This allowed automotive component manufacturers to operate without any shutdown but with less production volume. COVID-19 had a major impact on the OEM supply chain in North America. However, in 2021, the initiation of large-scale vaccination drives has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating Type Segments in the Commercial Vehicle Instrument Cluster Market?

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The commercial vehicle instrument cluster market share growth by the hybrid segment will be significant during the forecast period. The market share of hybrid instrument clusters for commercial vehicles is going to increase during the forecast period because all the developed countries had already started using them in commercial vehicles, and the adoption rate is expected to increase further.

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial vehicle instrument cluster market size and actionable market insights on post COVID-19 impact on each segment.

 

Commercial Vehicle Instrument Cluster Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 2.94%
Market growth 2021-2025	3.78 mn units
Market structure	Fragmented
YoY growth (%)	2.35
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 48%
Key consumer countries	US, China, Germany, Canada, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	BorgWarner Inc., Continental AG, DENSO Corp., Marelli Holdings Co. Ltd., Mitsubishi Electric Corp., Nippon Seiki Co. Ltd., Robert Bosch GmbH, Stoneridge Inc., Visteon Corp., and Yazaki Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Commercial Vehicle Instrument Cluster Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive commercial vehicle instrument cluster market growth during the next five years
• Precise estimation of the commercial vehicle instrument cluster market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the commercial vehicle instrument cluster  industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial vehicle instrument cluster market vendors

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