(MENAFN- GlobeNewsWire - Nasdaq) Austin, TX, USA, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “ Automotive Overhead Console Market Size, Trends and Insights By Type (Front Overhead Console, Rear Overhead Console), By Material (ABS, Polypropylene, SMA Plastic, Others), By Application (Vehicle Telematics, Infotainment System & HMI, Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 ” in its research database.

“According to the latest research study, the demand of global Automotive Overhead Console Market size & share was valued at approximately USD 42.1 Billion in 2022 and is expected to reach USD 43.7 Billion in 2023 and is expected to reach a value of around USD 58.6 Billion by 2032, at a compound annual growth rate (CAGR) of about 6.8% during the forecast period 2023 to 2032.”

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Automotive Overhead Console Market: Growth Factors and Dynamics

• Rising Demand for Enhanced In-Car Features : The increasing demand for enhanced in-car features and functionalities has driven the growth of the automotive overhead console market. Consumers are seeking advanced features such as integrated infotainment systems, ambient lighting controls, and storage compartments, which are often integrated into overhead consoles.

• Foon Interior Aesthetics and Comfort : Automotive manufacturers are placing greater emphasis on interior aesthetics and comfort to differentiate their vehicles in the competitive market. Overhead consoles not only serve as functional storage units but also contribute to the overall interior design and ambience of the vehicle, attracting consumers seeking a more comfortable and visually appealing driving experience.

• Technological Advancements : Advancements in technology have led to the integration of advanced electronics and sensors within overhead consoles. These consoles can house features such as touch-screen displays, gesture recognition systems, and advanced lighting controls. As the automotive industry becomes more tech-oriented, the demand for sophisticated overhead console features continues to rise.

• Growing Interest in Electric Vehicles (EVs) : The surge in interest and production of electric vehicles has also impacted the automotive overhead console market. EV manufacturers often foon creating futuristic and innovative interiors to align with the technology-driven nature of electric vehicles. As a result, overhead consoles in EVs tend to incorporate cutting-edge features, contributing to market growth.

• Customization and Personalization : Consumers are increasingly seeking customizable and personalized features in their vehicles. Automotive overhead consoles offer manufacturers the opportunity to provide modular designs and features that cater to individual preferences. This customization trend has led to an upswing in demand for overhead consoles with varistorage configurations and tech integrations.

• Safety and Driver Assistance Integration : Overhead consoles are not only limited to infotainment and aesthetics; they also play a role in enhancing safety and driver assistance features. Many modern overhead consoles house controls for functionalities like lane departure warnings, adaptive cruise control, and emergency communication systems. As safety remains a top priority in the automotive industry, the integration of these features further propels market growth.

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Automotive Overhead Console Market: Acquisitions and Partnerships

• Magna International and LG Electronics : In 2021, LG and Magna to develop next generation autonomdriving-infotainment solutions. This collaboration follows a successful joint venture LG and Magna announced in July 2021 called LG Magna e-Powertrain Co., Ltd, to manufacture e-motors, inverters and onboard chargers as well as related e-drive systems to support the growing global shift toward vehicles for certain automakers.

• Adient Acquires Futuris Group : In 2017, Adient acquired Futuris Group, enhancing its position in automotive seating and interiors, including overhead console design and manufacturing. They produce and deliver automotive seating for all vehicle classes and all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 43.7 Billion
Projected Market Size in 2032	USD 58.6 Billion
Market Size in 2022	USD 42.1 Billion
CAGR Growth Rate	6.8% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Type, Material, Application, Vehicle Type and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Automotive Overhead Console report is available upon request; please contactfor more information.)

Our Free Sample Report Consists of the following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on the Request.
• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated.
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Automotive Overhead Console report has been modified to include the COVID-19 impact study prior to delivery.)

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Automotive Overhead Console Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Automotive Overhead Console Market , with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions : The COVID-19 pandemic disrupted global supply chains, leading to shortages of essential components and materials required for manufacturing overhead consoles. This resulted in production delays and hindered the overall market growth.

• Dampened Consumer Demand : Economic uncertainties and lockdown measures during the pandemic led to a decrease in consumer spending on non-essential items, including automobiles. As a result, the demand for vehicles, and subsequently, automotive interior components like overhead consoles, experienced a temporary decline.

• Pent-up Demand Release : As economies gradually recover from the pandemic and consumer confidence returns, there is a potential for pent-up demand for vehicles. This rebound in demand would drive the need for interior features like overhead consoles, as consumers look to upgrade their vehicles.

• Resumption of Production : With the easing of lockdown measures and the recovery of global supply chains, automotive manufacturers can resume production at pre-pandemic levels. This would alleviate the supply constraints and contribute to the market's recovery.

• Foon Health and Hygiene : The pandemic highlighted the importance of health and hygiene within vehicles. Automotive manufacturers may incorporate features within overhead consoles that address these concerns, such as hands-free controls, UV sterilization, or antimicrobial materials, thereby stimulating consumer interest.

• Shift Towards Contactless Technology : The preference for contactless technology has accelerated due to the pandemic. Overhead consoles can integrate touchless controls, voice recognition, and gesture-based features, aligning with changing consumer behaviour and attracting potential buyers.

In conclusion, the COVID-19 pandemic has had a mixed impact on the automotive overhead console market, with some challenges and opportunities arising from the pandemic.

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Key questions answered in this report:

• What is the size of the Automotive Overhead Console market and what is its expected growth rate?
• What are the primary driving factors that push the Automotive Overhead Console market forward?
• What are the Automotive Overhead Console Industry's top companies?
• What are the different categories that the Automotive Overhead Console Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Automotive Overhead Console market sample report and company profiles?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2023−2032
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
• Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Automotive Overhead Console Market :

• Johnson Controls International plc
• Magna International Inc.
• Visteon Corporation
• Continental AG
• Grupo Antolin
• Gentex Corporation
• Lear Corporation
• Faurecia
• Harman International Industries Inc.
• Toyoda Gosei Co. Ltd.
• Others

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Automotive Overhead Console Market – Regional Analysis

The Automotive Overhead Console Market is segmented into variregions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America : In North America's Automotive Overhead Console Market, a trend is seen towards seamless connectivity. Overhead consoles incorporate advanced infotainment systems, wireless charging, and compatibility with smartphones. This reflects the region's tech-savvy consumer base and their demand for integrated communication and entertainment features.

• Europe : Europe's trend in the Automotive Overhead Console Market emphasizes sustainability. Overhead consoles incorporate eco-friendly materials and energy-efficient lighting, aligning with the region's strong environmental awareness and regulations. This reflects a growing demand for environmentally consciautomotive solutions.

• Asia-Pacific : The Automotive Overhead Console Market in Asia-Pacific is characterized by innovative storage solutions. Overhead consoles feature modular designs, maximizing storage capacity in compact vehicles prevalent in the region. This trend caters to the need for efficient space utilization in densely populated urban environments.

• LAMEA (Latin America, Middle East, and Africa) : LAMEA's Automotive Overhead Console Market showcases a foon comfort and luxury. Overhead consoles are designed with premium materials, integrated sunroofs, and enhanced ambient lighting, catering to the region's preference for upscale interiors that provide an enhanced driving experience.

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The Automotive Overhead Console Market is segmented as follows:

By Type

• Front Overhead Console
• Rear Overhead Console

By Material

• ABS
• Polypropylene
• SMA Plastic
• Others

By Application

• Vehicle Telematics
• Infotainment System & HMI
• Others

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

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Regional Coverage:

North America

• U.S.
• Canada
• Mex
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

This Automotive Overhead Console Market Research/Analysis Report Contains Answers to the following Questions .

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Automotive Overhead Console Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Staof the Automotive Overhead Console Market? What Was the Capacity, Production Value, Cost and PROFIT of the Automotive Overhead Console Market?
• What Is the Current Market Staof the Automotive Overhead Console Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Automotive Overhead Console Market by Considering Applications and Types?
• What Are Projections of the Global Automotive Overhead Console Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Automotive Overhead Console Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Automotive Overhead Console Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Automotive Overhead Console Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Automotive Overhead Console Industry?

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Reasons to Purchase Automotive Overhead Console Market Report

• Automotive Overhead Console Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Automotive Overhead Console Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Automotive Overhead Console Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Automotive Overhead Console Market Includes in-depth market analysis from variperspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Automotive Overhead Console market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Automotive Overhead Console market analysis.

• The competitive environment of current and potential participants in the Automotive Overhead Console market is covered in the report, as well as those companies' strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Automotive Overhead Console market should find this report useful. The research will be useful to all market participants in the Automotive Overhead Console industry.
• Managers in the Automotive Overhead Console sector are interested in publishing up-to-date and projected data about the worldwide Automotive Overhead Console market.
• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Automotive Overhead Console products' market trends.
• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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