Automotive Air Conditioning Market is projected to grow at 8.5% Compound Annual Growth Rate during forecast period of 2018 to 2023. This Global Automotive Air Conditioning Market growth is driven by factors such as surge in demand for passenger and commercial vehicles, change in consumer preferences, and government initiatives to develop advanced air conditioning systems. There has been an increase in the production of passenger and commercial vehicles over the past years in countries such as China, India, and Japan.
Automotive Air Conditioning Market Key Company Analyzed For This Research Report Are:
Denso Corporation (Japan), Hanon Systems (South Korea), Mitsubishi Heavy Industries Ltd (Japan), and MAHLE GmbH (Germany). Valeo SA (France), Keihin Corporation (Japan), Calsonic Kansei Corporation (Japan), Samvardhana Motherson Group (India), Subros Limited (India), and SMAC Auto Air (New Zealand) are among others.
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The pervasively growing Automotive Air Conditioning global Market is predominantly driven by the burgeoning automotive industry attributed to the rising disposable income. Technological advancements transpired in the automotive field coupled with the demand from the automotive industry for more efficient, environment friendly and unconventional Air Conditioning systems is providing impetus to the market growth. On the other hand, high investment capital is barricading the market growth of Automotive Air Conditioning market. Nevertheless, increasing number of automotive unit sale worldwide is expected to attract multiple investors to the market eventually, fuelling the market growth.
The automotive air conditioning market is segmented based on technology, component, and vehicle type. On the basis of technology, the market is segment into manual and automatic. The automatic technology is expected to dominate the market during the forecast period because it enables the occupants of a vehicle to set a specified temperature for one area within the automobile. The automatic air conditioning has the ability to monitor the temperature of a specified space without manual intervention.
The mechanism of air conditioning system requires sensor that is placed within the system. These sensors read the current temperature of the area and matches the desire temperature defined by the occupant through the computer system within the vehicle. On the basis of component, the market is segmented into compressor, evaporator, receiver and condenser. Compressors, are expected to dominate the market during the forecast period as they perform major tasks such as heat transfer, absorbs heat, and condense excess heat, which enter the air conditioning. On the basis of vehicle type, the market is segmented into passenger car and commercial vehicle. Passenger car segment is expected to dominate the market during the forecast period due to the increase in the production and sales in Asia Pacific. The increase in the production of passenger cars will result in high installation of air conditioning systems in vehicles. The high installation will hence increase the sales and lead to the growth of the market in future.
Regional Analysis:
Asia-Pacific is expected to remain the largest region due to continuous growth in automotive sector owing to the presence of manufacturers. Moreover, China is the largest producer and consumer of automobiles across the globe. Increasing awareness of energy efficient products to reduce the energy cost is the primary factor driving the demand for Automotive Air Conditioning market in APAC region. North America is one of the key markets for Automotive Air Conditioning. The market in this region is mainly driven by factors such as increasing vehicle production and the growing demand for safety and comfort features in vehicles.
Automotive Air Conditioning Market Competitive Analysis:
The highly competitive market of the Automotive Air Conditioning is dependent on automobile sales and is driven by the increase in automotive production. The market is fragmented owing to the presence of several large and small key players accounting for a substantial market share. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch to gain the competitive edge and to maintain market position. Competitive by nature, this market is envisaged to intensify with more entrants get attracted to the mass market.
The report for Global Automotive Air Conditioning Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Major Table Of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
Continued …
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