Report : Europe 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)
Passenger Vehicle Segment to Dominate Europe Overhead Console Market during 2021–2028
According to a new market research study on “Europe Overhead Console Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Vehicle Type,” is expected to reach US$ 3955.19 million by 2028 from US$ 2645.94 million in 2021. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The report provides trends prevailing in the Europe overhead console market along with the drivers and restraints pertaining to the market growth. Growing adoption of vehicle telematics, advanced adoption of AI in automotive industry and increasing consumer investments on car accessories are the major factor driving the growth of the Europe overhead console market. However, less adoption of luxury cars in developing economies hinder the growth of Europe overhead console market.
The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, and the UK have seen a comparatively modest growth in industrial activities due of the strong healthcare system. To protect its citizens from the COVID-19 virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the COVID-19.
The Europe 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 Europe 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 Europe 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; and Daimay Automotive Interior Co., Ltd. are among the leading companies in the Europe 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, Hella presented its new lighting solutions for emergency vehicles at RETTmobil in Fulda. The company also presented its new lighting solutions designed for the vehicle roof. The flat LED roof bars "Micro Lightbar" and "Mini Lightbar" generating both a rotating and a flashing warning signal.
The report segments the Europe Overhead Console Market as follows:
Europe Overhead Console Market – By Application
- Vehicle Telematics
- Infotainment System & HMI
- Others
Europe Overhead Console Market – By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Europe Overhead Console Market – By Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
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