Automotive Centre Console Market Size was valued at USD 41.5 Billion in 2022. The Automotive Centre Console market industry is projected to grow from USD 43.2 Billion in 2023 to USD 60.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2023 - 2032). Rising demand for high performance and technologically advanced sumptuous interior and popularity of electric vehicles and expansion of automotive industry, are the key market drivers enhancing the market growth.
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The car centre console market is expanding significantly, primarily due to the constantly increasing demand for electric vehicles. An electric car's center control systems are a critical component and are reliable, secure, and safe. Touch controls and the navigation system are found in the centre console in electric cars. The worldwide automotive center console market is developing due to constantly expanding automotive sector and their rising rate of production for high-performance vehicles. In addition, the comfort supplied by luxury cars and their expanding popularity will promote market expansion during the projection period.
The automotive centre console is a storage box positioned between the driver seat and the front passenger seat within the central portion of the automobile. The centre console starts from the dashboard, including the transmission panel and extends up to the centre of the front passenger and driver seat. The central console contains numerous functions such as control units, music control, temperature control feature, air conditioner pane, and cup holders. The high performance or luxury automobiles have additional facilities such as the charging ports, music controls, electrical devices, and display screen. Nowadays, the young population is more attracted towards high-performance and luxury vehicles which is creating a strong demand for automotive centre console in the global market. The prominent automotive manufacturers are expanding their manufacturing capacities as well as working towards designing car interiors with technologically improved systems and equipment to suit the changing expectations of the customers. Moreover, the rising volume of automobiles is the major reason for the expanding need for automotive centre console in the international market.
The growth of the automobile industry, as well as the fact that major players around the world are increasing their production potential, are propelling the automotive center console market forward. Furthermore, the demand for premium and high-performance automobiles is predicted to boost the automotive center console industry forward during the forecasted period. Furthermore, research and development to upgrade vehicle interiors by adding more technologically sophisticated technology with the end objective of boosting comfort and giving new accessories are projected to fuel demand for automotive center consoles.
Similarly, the rising inclusion of electronics in automobiles to boost performance, as well as the installation of high-tech accessories like as heating and cooling bins, are expected to support the growth of the automotive center console market over the forecast period. The automotive center console industry's latest trend among original equipment manufacturers (OEMs) is to produce lightweight but dependable vehicles with improved fuel economy, better sound, and the use of smart glass technology in the center console are expected to create demand for lighter-weight vehicle center consoles market. However, the increasing inclination for adding front slang seats is projected to hinder the growth of the automotive center console market throughout the forecast period. Thus, driving the Automotive Centre Console market revenue.
The Automotive Centre Console Market segmentation, based on Market Type, includes OEM and Aftermarket. OEM segment accounted for the largest revenue share in 2022. Original equipment manufacturers (OEMs) in the car center console business are now focusing on providing compact, fuel-efficient vehicles with higher efficiency and fuel economy. Also supporting manufacturers in recasting automobile center consoles and the creation of touch screens, fledgling info display improvements, and various gadgets are expected to have a large effect on car interiors. This important tendency is projected to boost the OEM segment, and therefore the car center console market.
The Automotive Centre Console Market segmentation, based on Vehicle Type, includes Passenger Cars, Commercial Vehicles, and Electric Vehicle. Passenger Cars segment dominated the Automotive Centre Console Market in 2022. This is attributable to a growth in GDP and population, a change in lifestyle, greater customer buying power, and the expansion of infrastructure. Similarly, commercial vehicles are predicted to increase the automotive center console market due to technology advances during the forecast period.
Figure 1: Automotive Centre Console Market, by Vehicle Type, 2022 & 2032 (USD Billion)
Market Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Centre Console Market dominated this market in 2022 (45.80%). This is owing to the presence of large original equipment manufacturers in the region. Further, manufacturers’ increased acceptance of new technologies and significant expenditure to develop top-end premium automobiles are likely to contribute to market expansion. Further, the U.S. Automotive Centre Console market held the largest market share, and the Canada Automotive Centre Console market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automotive Centre Console Market Share By Region 2022 (USD Billion)
Market Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Centre Console market accounted for the healthy market share in 2022. The quick adoption of modern technologies and enormous investment put in by the manufacturers to build high end luxurious automobiles are the primary causes which are fueling the expansion of automotive centre console market at a faster pace. Further, the German Automotive Centre Console market held the largest market share, and the U.K Automotive Centre Console market was the fastest growing market in the European region
The Asia Pacific Automotive Centre Console market is expected to register significant growth from 2023 to 2032. The major cause for the quick expansion of the market is the huge volume of sales and manufacture of automobiles in this region. Also, the rising disposable income of the population coupled with the increasing tendency for high performance and luxury cars is eventually pushing the expansion of automotive centre console market in this area. Developing and developed economies such as India, China and Japan are the key contributors for the rapid expansion in the automotive sector. Moreover, China’s Automotive Centre Console market held the largest market share, and the Indian Automotive Centre Console market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Centre Console market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Centre Console industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Centre Console industry to benefit clients and increase the market sector. In recent years, the Automotive Centre Console industry has offered some of the most significant advantages to medicine. Major players in the Automotive Centre Console market, including Continental AG, Faurecia S.A., AGM Automotive, LLC, Novares Group S.A., Yanfeng Automotive Trim Systems Co., Ltd., Novem Car Interior Design GmbH, DRĂ„XLMAIER Group, Emerson Electric Co., Lear Corporation, and MVC Holdings, LLC, are attempting to increase market demand by investing in research and development operations.
Forvia SE (Forvia) is a manufacturer of automobile equipment. The company designs produces and supplies seat components such as frames, adjustment mechanisms, motors, cushioning, seat covers, electronic and pneumatic systems and accessories and foams. It also provides vehicle interior items such as instrument panels, modules and door panels, and acoustic products. It manufactures automotive exteriors such as front-end carriers, bumpers, and engine cooling systems. The business develops emission control systems for light and commercial vehicles. The corporation operates through production sites and research and development centers in nations across Europe, the Americas, Africa and Asia. Forvia is headquartered in Nanterre, Ile-de-France, France. In 2021, Faurecia, a French producer of automotive components, acquired Hella Inc. for a total of 6.7 billion. Hella became a part of Faurecia through this acquisition and work under the Faurecia automotive business. Furthermore, Faurecia intends to strengthen its market position, notably in critical developing industries like automated driving and automotive interior design. Hella is a German corporation that creates and produces automotive accessories, diagnostic illumination, and electrical equipment for automobiles.
Veolia has been assisting the automotive industry for many years and has created a reputation for excellence through a technical offering and services dedicates to the top automotive suppliers and manufacturers. In May 2022, by 2025, Veolia and Faurecia propose to deploy an aggregate of 30% recycled polymers in car interiors. To that purpose, they have committed to working together and executing experiments. The agreement aims to lessen Faurecia’s carbon footprint, aid it in achieving its C02 neutrality ambition, and increase Veolia’s product offering in the automotive interior market.
May 2022: the first changeable display technology for an integrated automotive cockpit system has been developed by Hyundai Mobis. This unique device incorporates a novel idea of an incredibly big, curved screen that is mobile and is ideal for driverless vehicles. Because the screen may be swiveled up and down, it is also known as a swivel display.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 41.5 Billion |
| Market Size 2023 | USD 43.2 Billion |
| Market Size 2032 | USD 60.1 Billion |
| Compound Annual Growth Rate (CAGR) | Â 4.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018 & 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Vehicle Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Continental AG,Faurecia S.A.,AGM Automotive, LLC,Novares Group S.A.,Yanfeng Automotive Trim Systems Co., Ltd.,Novem Car Interior Design GmbH,DRĂ„XLMAIER Group,Emerson Electric Co.,Lear Corporation,MVC Holdings, LLC |
| Key Market Opportunities | Driving popularity of electric vehicles and expansion of automotive industry |
| Key Market Dynamics | Growing technology with the end objective of boosting comfort and giving new accessories to users |
Frequently Asked Questions (FAQ) :
The Automotive Centre Console Market size was valued at USD 41.5 Billion in 2022.
The global market is projected to grow at a CAGR of 4.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Continental AG, Faurecia S.A., AGM Automotive, LLC, Novares Group S.A., Yanfeng Automotive Trim Systems Co., Ltd., Novem Car Interior Design GmbH, DRĂ„XLMAIER Group, Emerson Electric Co., Lear Corporation, and MVC Holdings, LLC
The OEM Market Type dominated the market in 2022.
The Passenger Cars Vehicle Type had the largest share in the global market.
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