Report : Asia Pacific Overhead Console Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Vehicle Telematics, Infotainment System & HMI, and Others) and Vehicle Type (Passenger Cars and Commercial Vehicles)
Infotainment System & HMI to be the fastest Growing Segment of Asia Pacific Overhead Console Market during the Forecast Period 2021–2028
According to a new market research study on “Asia Pacific Overhead Console Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Vehicle Type,” is expected to reach US$ 7368.81 million by 2028 from US$ 4543.86 million in 2021. The market is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific overhead console market along with the drivers and restraints pertaining to the market growth. Up-surging sales of premium cars in china, intensifying consumer investments on car accessories and ramping adoption of vehicle telematics are the major factor driving the growth of the Asia Pacific overhead console market. However, fewer adoption of luxury cars in developing economies hinders the growth of Asia Pacific overhead console market.
Due to increasing number of cases in China, the APAC region is greatly affected by COVID-19. The country also homes the largest population across the world, which is imposing greater risk to a large number of individuals. China is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies of the region, including China, India, South Korea, and Vietnam and these market has experienced a downward industrial growth during the first two quarter of 2020.
The Asia Pacific overhead console market is segmented into application, vehicle type, and country. Based on application, the market is segmented into vehicle telematics, infotainment system & HMI and others. In 2020, the others segment held the largest share of Asia Pacific overhead console market and infotainment system & HMI is to the fastest growing segment over the forecast period. Based on vehicle type the overhead console market is divided into passenger vehicle and commercial Vehicle. In 2020 the Passenger vehicle segment held the largest share of Asia Pacific overhead console market and is also expected to the fastest growing segment over the forecast period.
Flex Ltd.; Grupo Antolin; Hella GmbH & Co. KGAA; Magna International Inc.; Yanfeng Automotive Interiors; Gentex Corporation; Daimay Automotive Interior Co., Ltd.; Kojima Industries Corporation; and JPC Automotive are among the leading companies in the Asia Pacific overhead console market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Gentex Corporation would demonstrate its new features and technology concepts at CES 2020 that dramatically expand its digital vision, car connectivity & sensing, and dimmable glass product lines. Gentex Corporation is a supplier of electro-optical products for the automotive, aerospace, and fire protection sectors. They would also showcase their new in-vehicle smoke detector for autonomous vehicles and rideshare operators.
The report segments the Asia Pacific Overhead Console Market as follows:
Asia Pacific Overhead Console Market – By Application
- Vehicle Telematics
- Infotainment System & HMI
- Others
Asia Pacific Overhead Console Market – By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Asia Pacific Overhead Console Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
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