Press release
Automobile Meters Market Analysis, Trends, Growth Prospects Forecast to 2025
Automobile meters are the ancillary devices embedded in automotive vehicles which help in monitoring of vehicle performance by measuring different parameters such as fuel consumption, vehicle speed, engine temperature, etc. Automobile meters mainly used in OEM (original equipment manufacturer), and are also available in aftermarket sales. Some of the commonly used automobile meters are tachometers, speedometers, oil pressure meter, voltmeter, fuel gauge, temperature gauge, etc. Traditionally, automobile meters were used with a provision of analogue display, but with technological advancements, digital display prototypes have been used in recent times. Automobile meters aid in efficient use of automobiles. The new vehicle unit sales as well as repair and installation in aftermarket has created a considerable market for automobile meters around the globe.
Automobile meters such as Tachometers are used for measuring Rotation per Meter (RPM) of the automobile. It also helps to understand optimum time to change the gear to get maximum power and speed in a particular gear, so it is extensively used in dynamic terrains such as locomotion on inclined planes. Speedometers are used for measuring the rate of speed and estimation of mileage. Oil pressure meter is used to check the lubricant reach in the engine in the areas which are in need and help to reduce the wear and tear of engine parts and smooth run of engine in different weather such as the pressure is high in cold weather due to its high viscosity, high indication is good for the engine and without this the engine seize to work. Another device known as the fuel gauge is used for measuring and indicating the fuel level which is available in the tank and estimates the next fueling point according to the mileage of the car which prevents from the trouble of fuel tank empty.
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Automobile Meters Industry: Market Dynamics
The continued use of automotive vehicles and its subsequent production is projected to drive the automobile meters market. In addition, government regulations such as fuel efficiency has also propelled the use of automotive meters in automobiles. New product developments and increasing cope of end-use applications such as hour cum RPM meters is also expected to provide growth to the global automobile meters market.
In terms of market trends, upcoming technologies such as adaptive cruise control, roundabout shunt prevention, and lane changer converter are likely to be implemented in the automobile meters industry. Also, digitalization, compact size, customization, etc. are some notable trends in the industry.
Automobile Meters Industry: Market Segmentation
Automobile Meters market can be segmented on the basis of product as follows:
Speedometer
Tachometer
Pressure gauge
Fuel gauge
Temperature gauge
Automobile Meters market can be segmented on the basis of end-use as follows:
Light commercial vehicles
Heavy commercial vehicles
Passenger Cars
Two and Three Wheelers
Sports Cars
Automobile Meters market can be segmented on the basis of display as follows:
Analogue display
Digital display
Automobile Meters Market: Regional Outlook
Asia-Pacific, Europe, Africa and North America regions are estimated to hold more than half of the total market shares of the global automobile meter market. These regions have the advantage of technologies advancement in the industry. The Asia-Pacific region, specifically China, Japan and India have recorded the high demand for the automobile meter as compared to other regions. Also, regions such as North America are forecasted to grow at the same pace in next decade attributed to increasing demand for updated automobile meters. Additionally, regions such as the Middle East and Africa, Latin America, etc. are expected to witness substantial growth in the global automobile meters market.
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Automobile Meters Market: Key Market Players
Examples of some of the market participants in the Automobile Meters market identified across the value chain are Auto Meter Products Inc., Flue-Tec Instruments & Controls; JOULE UNIVERSAL; Minimeter Automotive Instruments & Accessories; Indus Services; Technoton Sensors; Ono Sokki Co., Ltd; Ace Meters & Instruments; Auto Jaw Co., Ltd.; Avitar Tech Int’l Group Inc.; and Apex meter & Control.
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