Report : South America 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 is expected to be the fastest Growing Segment of South America Overhead Console Market during the Forecast Period 2021–2028
According to a new market research study on “South America Overhead Console Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Vehicle Type,” is expected to reach US$ 396.68 million by 2028 from US$ 314.13 million in 2021. The market is estimated to grow at a CAGR of 3.4% from 2021 to 2028. The report provides trends prevailing in the South America overhead console market along with the drivers and restraints pertaining to the market growth. Aspirating consumer investments on car accessories, boosting adoption of vehicle telematics and surging integration of AI in automotive industry are the major factor driving the growth of the South America overhead console market. However, very less adoption of luxury cars in developing economies hinders the growth of South America overhead console market.
In SAM, Brazil has witnessed the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador. Governments have been imposing travel restrictions, lockdowns, and trade bans to contain the spread of virus. Thus, the COVID-19 pandemic has been severely affecting the overhead console’s market growth in this region. Governments need to consider waste management as an urgent and essential public service to respond to emergencies such as the COVID-19 outbreak, to minimize possible secondary impacts upon health and the environment. Response measures need to consider the sudden demand once the pandemic ends. However, recent relaxations in lockdown and arrangement of large-scale vaccination drives would help the economies to bounce back, which would allow industries to regain their operations in the next few quarters.
The South America 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 South America 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 South America 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.; and Yanfeng Automotive Interiors are among the leading companies in the South America 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, Grupo Antolin works to promote a healthy environment inside the vehicle.
The report segments the South America Overhead Console Market as follows:
South America Overhead Console Market – By Application
- Vehicle Telematics
- Infotainment System & HMI
South America Overhead Console Market – By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
South America Overhead Console Market – By Country
- Rest of SAM
Contact Person: Sameer Joshi
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