Technavio Announces Top Three Emerging Trends Impacting the Global Automotive Instrument Panel Market Through 2019

LONDON--()--Technavio’s latest report on the global automotive instrument panel market provides an analysis on the key trends expected to impact the market outlook through 2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The top three emerging trends driving the global automotive instrument panel market according to Technavio automotive research analysts are:

  • VOC emissions pushing manufacturers to explore new materials and production techniques
  • Usage of leather as a coating material in instrument panels
  • Product developments and innovations in design of instrument panels

VOC emissions driving manufacturers to explore new materials and production techniques

An automotive instrument panel is made of volatile organic compound (VOC) materials such as plastic polymers, elastomers, substrate, and foam. VOCs are organic chemicals that have high vapor pressure at ordinary room temperature. The VOC's high vapor pressure causes an enormous number of molecules to disperse from the liquid or solid form of the compound thereby entering the surrounding air. This effect causes suffocation and odor inside the vehicle. To elude this challenge, several vendors are focusing on shifting toward low VOC emitting materials such as resin that emits less VOCs thereby providing a better driving experience.

Brijesh Kumar Choubey, a lead automotive electronics analyst from Technavio, says, “APAC is leading in terms of VOC emission regulations with countries such as South Korea, China, and Japan implementing regulations to measure and control the automotive interior air quality by controlling the VOC emissions from components such as the instrument panel, vehicle cockpit, automotive upholstery, and plastic seals employed in the interiors of the vehicles.”

Usage of leather as a coating material in instrument panels

The market is also witnessing the trend of increased usage of leather in the instrument panel interiors, as the buyers are driven toward a more aesthetic look. As leather is a sturdy material and also associated with luxury, demand from OEMs is largely increasing for leather coated instrument panels. Adding leather to the interior of the vehicle automatically increases the price by several hundred dollars. It also gives an added advantage of pleasant surroundings in the instrument panel and also the vehicle can be tagged at a higher price during the resale.

This trend has made vendors focus on the development of instrument panel interiors using leather for more aesthetic looks and comfort. The usage of leather in automotive instrument panels has been largely witnessed in the luxury car segment.

Product developments and innovations in design of instrument panels

Advances in technology and product innovations are changing the global automotive instrument panel market. Housing requirements for instrument panels are on a rise as the automobiles are now being equipped with additional features such as ashtrays, larger glove boxes, defrost systems, air bags, and air outlets. Vendors investing in the development of new products and technologies remain competitive in the market and raise demand from new end-user industries.

“Increased focus on developing product portfolios and increased investment in developing instrument panel materials with specific properties for specific end-user applications are having a positive impact on the global instrument panel market. High competition in the market has also resulted in more product innovations and cost-effective production facilities, which favor the growth of the global instrument panel market,” says Brijesh.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global automotive instrument panel market provides an analysis on the key trends expected to impact the market outlook through 2019.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com