LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global automotive instrument panel market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
One of the key factors resulting in the growth of the global automotive instrument panel market is the demand for advanced vehicle features in display and infotainment. Over the years, the consumer's preferences have been changing rapidly, and even the technology used in the infotainment systems are evolving at a rapid pace.
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The top three emerging market trends driving the global automotive instrument panel market according to Technavio research analysts are:
- Leather-wrapped car interiors across all vehicle segments
- Volatile organic compounds (VOC’s) emissions pushing manufacturers to explore new materials and production techniques
- Product developments and innovations in design of instrument panel
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Leather-wrapped car interiors across all vehicle segments
The market is observing the trend of increased use of leather in the instrument panel interiors. The buyers are demanding more and are driven towards a more aesthetic look. Leather is a sturdy material and expresses luxury. The demand for leather-coated instrument panels from the OEMs is highly increasing. Adding leather to the interiors of the vehicle automatically increases the price of the vehicle by several hundred dollars. Leather interiors improve the ambiance of the vehicle. Other than providing premium looks and feel, leather interiors also offer easy cleaning, anti-allergic properties, and longevity.
According to Amey Vikram, a lead analyst at Technavio for automotive components, “Apart from luxury and premium vehicles, the OEMs are also introducing leather interiors in mid-size vehicles and entry-level vehicles to remain competitive in the market and attract more customers. In addition, OEMs are meeting the rising demands for the mid-size vehicles and entry-level vehicles by using cost-efficient technologies and interior materials. The current demands from the consumers are making the vendors focus on the development of instrument panel interior using leather to provide better aesthetic and comfort.”
VOC emissions pushing manufacturers to explore new materials and production techniques
The automotive instrument panel is made up of various VOC such as plastic polymers, foam, substrate, and elastomers. The high vapor pressure of VOCs causes several molecules to disperse into the air. This causes suffocation and odor inside the vehicle. To overcome this challenge, many vendors are concentrating on shifting towards the low VOC emitting materials such as resin that emits less VOCs and provides better driving experience.
APAC is the leading region in terms of VOC emission regulations, wherein various countries such as South Korea, China, and Japan executing regulations to measure and control automotive interior air quality. This is done by taking care of VOC emission from several components such as instrument panel, automotive upholstery, plastic seats, and vehicle cockpit employed in the interiors of the vehicles.
Product developments and innovations in design of instrument panel
Advancements in technology and product innovations are changing the global automotive instrument panel market. Automobile instrument panels are now being equipped with additional features such as ashtrays, larger glove boxes, defrost systems, air bags, and air outlets. Therefore, the housing requirements for instrument panels are increasing.
“Vendors are investing in the development of new products and technologies to be competitive in the market, thereby creating the demand from various segments. They are concentrating on expanding product portfolios and increasingly investing in developing instrument panel materials with specific properties for specific end-user applications. This is having a positive impact on the global instrument panel market,” says Amey.
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