Middle East and Africa Overhead Console Market is expected to reach US$ 503.94 Mn by 2028


PRESS RELEASE BY The Insight Partners 26 Jul 2021

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Commercial Vehicle is expected to be the Fastest Growing Segment of Middle East & Africa Overhead Console Market during the Forecast Period 2021–2028 

According to The Insight Partners market research study on “Middle East & Africa Overhead Console Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Vehicle Type,” is expected to reach US$ 503.94 million by 2028 from US$ 384.41 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa overhead console market along with the drivers and restraints pertaining to the market growth. Elevating Integration of AI in Automotive Industry, escalating consumer investments on car accessories and scaling adoption of vehicle telematics are the major factor driving the growth of the Middle East & Africa overhead console market. However, lesser adoption of luxury cars in developing economies hinder the growth of Middle East & Africa overhead console market.

The major countries in the MEA facing the economic impact of COVID-19 pandemic include Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. The region is projected to register a swift decline in manufacturing activities due to industries shutting down and technology innovations coming to a halt across the Middle East and Africa region; this can be attributed to lowered production activities and disruption of manufacturing in many countries in these regions. Irrespective of the previous projections regarding steady growth of the overhead console market in the MEA due to escalating demand of automobiles, to enhance resource utilization, improve efficiencies, and enhance driver safety. In Saudi Arabia and the UAE, the imposition of travel restrictions and disruption of supply chains are limiting the overhead console market growth to a certain extent. The impact of the COVID-19 pandemic on this market has been huge both as a merit and demerit. However, it will certainly see a heavy rise after the pandemic.

The Middle East & Africa overhead console market is segmented into application, vehicle type, and country. Based on application, the market is segmented into vehicle telematics, infotainment system & HMI and others. In 2020, the others segment held the largest share of Middle East & Africa overhead console market and infotainment system & HMI is to the fastest growing segment over the forecast period. Based on vehicle type the overhead console market is divided into passenger vehicle and commercial Vehicle. In 2020 the Passenger vehicle segment held the largest share of Middle East & Africa overhead console market and is also expected to the fastest growing segment over the forecast period. 

Flex Ltd.; Grupo Antolin; Hella GmbH & Co. KGAA; Magna International Inc.; and Yanfeng Automotive Interiors are among the leading companies in the Middle East & Africa overhead console market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Grupo Antolin works to promote a healthy environment inside the vehicle.

The report segments the Middle East & Africa Overhead Console Market as follows:

Middle East & Africa Overhead Console Market – By Application

  • Vehicle Telematics
  • Infotainment System & HMI
  • Others

Middle East & Africa Overhead Console Market – By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

Middle East & Africa Overhead Console Market – By Country

  • South Africa
  • Turkey
  • Rest of MEA

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