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Automotive Centre Console Market to Surpass $45.54 Billion by 2029 | Key Trends & Insights
Automotive Centre Console Market
How Will the Automotive Centre Console Market Grow by 2025 in Terms of Size and Growth?
The size of the automotive centre console market has seen robust growth in recent periods. The market is projected to expand from a value of $33.27 billion in 2024 to $35.21 billion in 2025, generating a compound annual growth rate (CAGR) of 5.8%. Factors contributing to this historic growth trend include the emergence of modern electric vehicles, shifting consumer behaviours, constrained connectivity features, and basic storage compartments.
What Are the Estimated Growth Rates for the Automotive Centre Console Industry Through 2029?
Over the coming years, the automotive centre console market is predicted to experience substantial growth, set to reach a value of $45.54 billion in 2029, displaying a compound annual growth rate of 6.6%. This prospective growth within the forecast period can be credited to an increase in passenger car and commercial vehicle production, the prosperous luxury and high-end car segments growth, the expanded connected car ecosystem, and a rise in demand for electric and autonomous vehicles. The forecast period is expected to see notable trends including the integration of large touchscreen displays, customizable ambient lighting, compatibility with IoT and smart home devices, device wireless charging, and multifunctional and modular console designs.
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What Are the Strategic Drivers Boosting Automotive Centre Console Market Performance?
The automotive center console market is experiencing substantial growth due to the escalating demand for electric vehicles. Center control systems, which are vital components of electric cars, are designed to be safe, secure, and sturdy. These centre consoles are utilized for navigation and touch controls in electric vehicles. For example, in February 2023, the Bureau of Labor Statistics, an agency within the United States Department of Labor, released an article predicting that by 2030, electric vehicle sales in the United States are anticipated to account for 40% of total passenger car sales. Some even more positive forecasts predict that electric vehicle sales could exceed 50% by 2030. Therefore, the surging demand for electric vehicles is propelling the automotive center console market.
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What Are the Segments in the Automotive Centre Console Market?
The automotive centre console market covered in this report is segmented -
1) By Type: Touch Screen, Buttons And Controls
2) By Vehicle Type: Passenger Vehicle, Premium Cars, Compact Cars, Mid-Size Cars, Luxury Cars, SUV, Electric Vehicle
3) By Distribution: Original Equipment Manufacturer, After market
Subsegments:
1) By Touch Screen: Capacitive Touch Screens, Resistive Touch Screens, Multi-Touch Screens, Integrated Navigation Systems
2) By Buttons And Controls, Mechanical Buttons, Toggle Switches, Rotary Controls, Touch-sensitive Controls
What Are the Key Adoption Trends in the Automotive Centre Console Market?
The emergence of innovative touchscreen technology is predominantly trending in the automotive center console market. Major market players are channeling efforts into the development of new technologies to cement their standing in the industry. For example, in September 2023, Grammer AG, an automobile and car interior manufacturer hailing from Germany, introduced an automated center console designed specifically for the HiPhi X electric SUV's rear bench. The console, which features a display holder, smartphone trays, cup holders, and two fold-out tables concealed beneath a butterfly armrest, is noteworthy for its high-end craftsmanship and semi-aniline leather upholstery. It also incorporates sophisticated attributes such as cupholders in the two table surfaces enhanced with unique magnetic inserts to securely hold the glasses.
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Which Companies Lead the Competitive Landscape of the Automotive Centre Console Industry?
Major companies operating in the automotive centre console market include AGM Automotive LLC, Alps Electric Co. Ltd., Calsonic Kansei Corp., Continental AG, Delphi Automotive plc, Emerson Electric Co., Faurecia SA, Hyundai Mobis Co, Johnson Controls Inc., Lear Carporation, MVC Holdings LLC, Novem Car Interior Design, Yanfeng International Automotive Technology Co. Ltd., Draxlmaier Group, Grammer AG, Magna International Inc., Toyota Boshoku Corporation, Novares Group SA, Langfang Huaan Automobile Equipment Co. Ltd., Visteon Corporation, Inteva Products LLC, Grupo Antolin Irausa SA, Tachi-S Co. Ltd., International Automotive Components Group, F S Fehrer Automotive GmbH, Adient plc, Brose Fahrzeugteile GmbH & Co. KG, Schaeffler AG, Robert Bosch GmbH, Kasai Kogyo Co. Ltd., Shiroki Corporation
Where Are the Key Automotive Centre Console Market Opportunities by Region?
Asia-Pacific was the largest region in the automotive center console market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive center console market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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