Overhead Console Market to Grow at a CAGR of 6.1% to reach US$ 15,011.51 million from 2021 to 2028

Constant technological advancement, along with the rising development of accessories and solutions to boost the overall traveling experience, has significantly enhanced the quality of automobiles compared to the ones developed few decades before. The increase in vehicle production incorporated with comfort features such as automated sunroofs is supporting the growth of the automotive overhead console market. Additionally, growing demand for attractive and spacious interior inside the vehicle is encouraging the vehicle manufacturers to develop and install advanced overhead console in the vehicles. Further, increasing adoption of smartphone and rising connectivity with the in-vehicle infotainment systems is demanding the installation of overhead consoles.

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Companies Profiled in this report includes: Flex Ltd., Gentex Corporation; Grupo Antolin; Hella GmbH & Co. KGAA; JPC Automotive; Magna International Inc.; Diamond Coatings Inc.; Daimay Automotive Interior Co., Ltd.; Kojima Industries Corporation; and Yanfeng Automotive Interiors

Impact of COVID-19 Pandemic on 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.

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Key Findings of Study:

The global overhead console market has been segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America SAM. In 2020, Asia Pacific held the largest revenue share of global overhead console market. The market growth in Europe is attributed to significant use of overhead console in the automobile industry.

The market growth of overhead consoles in the APAC region can be attributed to increase in sales of vehicles. This is due to the presence of major automotive parts manufacturing industries across China, India, and Japan. Further, the increase in demand for electric vehicles across the region due to enactment of stringent vehicle emission norms in the region is boosting the growth of the market. Similarly, the growing consumer preference for sunroofs in vehicles and expansion of the automotive aftermarket across the world is fueling the growth of the market. China holds the largest share in the Asia Pacific market due to the high production of these devices and low labor costs. Further, the presence of various local and key market players in the country is also driving the overhead consoles market growth.

The overhead console market has been segmented as follows:

By Application

Vehicle telematics

Infotainment system & HMI

Others

By Vehicle type

Passenger Cars

Commercial Vehicles

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