The global automotive centre console market size 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 in the market 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 global automotive centre console market size is expected to reach $37.79 billion in 2026 at a CAGR of 7.21%.
What is the Global Automotive Centre Console Market?
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.
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What drives the Global Automotive Centre Console Market?
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.
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Global Automotive Centre Console Market Segments
The global automotive centre console market is segmented:
By Type: Touch Screen, Buttons and Controls
By Vehicle Type: Passenger Vehicle, Premium Cars, Compact Cars, Mid-Size Cars, Luxury Cars, SUV, Electric Vehicles
By Distribution: Original Equipment Manufacturer, Aftermarket
By Geography: The regions covered in the automotive centre console market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Centre Console Global Market Report 2022provides market size and growth forecasts for the global automotive centre console market, global automotive centre console market share, automotive centre console market segments and geographies, automotive centre console market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive centre console market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Centre Console Industry Playersinclude 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 Corporation, MVC Holdings LLC, Novem Car Interior design, Yanfeng Automotive, DRÄXLMAIER Group, and Grammer AG. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
