Automotive Air Conditioning Market 2021 | Synopsis and Highlights, Key Findings, Major Companies Analysis and Forecast to 2023
Market Synopsis:
The global Automotive Air Conditioning Market is presumed to register a staggering CAGR during the forecast period (2016-2022) owing to the increasing demand for commercial and passenger vehicles, asserts Market Research Future (MRFR). Automotive air conditioning is the referred to as the process of removing heat from the interior part of the vehicle in order to provide comfort of the occupants. One of the essential components of a vehicle, air conditioning uses ventilation, integrated heating, and air conditioning systems in vehicles. Most of the vehicles are nowadays equipped with manual or automatic air conditioning systems.
Drivers Analysising the Market
With the increasing demand for commercial and passenger vehicles, initiatives from the government to build advanced air conditioning system, and change in consumer preferences are considered some of the major factors influencing the global Automotive Air Conditioning Market. There also has been rise in the production of commercial and passenger vehicles over the recent past especially in regions such as Japan, China, and India owing to the availability of low-cost labor. The rising sales of new vehicles will lead to higher installation of air conditioning in vehicles. This is further estimated to contribute to the growth of the market. Moreover, with the increase in disposable income, consumers will prefer to adopt advanced air conditioning systems, thereby fueling the market growth. Also, advancement in technology from manual to automatic air conditioning will result in growth of the market.
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Automotive air conditioner system also helps to disinfect the air we breathe, thereby decreasing the attack of asthma and allergies by removing pollen and dust. The latest features such as Cadillac and comfort control are further triggering the demand for Automotive Air Conditioning Market during the assessment period.
On the flip side, high investment capital is considered to act as a major restraint to the market growth in the coming years.
Global Automotive Air Conditioning Market: Segmental Analysis
The global Automotive Air Conditioning Market has been segmented on the basis of component, technology, vehicle type, and region.
By mode of technology, the global Automotive Air Conditioning Market has been segmented into automatic and manual. Among these, the automatic technology is estimated to dominate the global market as it allows to set a specified temperature within the automobile. It can also monitor the temperature of a specified area without manual intervention.
By mode of component, the global Automotive Air Conditioning Market has been segmented into condenser, compressor, evaporator, and receiver. Among these, the compressors are anticipated to dominate the global market as they perform major tasks such as heat absorption, heat transfer, and condense excess heat.
By mode of vehicle type, the global Automotive Air Conditioning Market has been segmented into commercial and passenger vehicle. Among these, the passenger vehicle segment is presumed to dominate the global market during the estimated period owing to the increased sales and production. The high installation of air conditioning systems in passenger vehicles will trigger its demand.
Regional Insights
Geographically, the Automotive Air Conditioning Market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is presumed dominate the market owing to rapid industrialization, ever-increasing population, and expansion of the manufacturing sector. The development of technology-driven vehicles further leads to adoption of automatic air conditioning in vehicles, thus triggering its demand over the years.
North America is considered to be one of the key regions during the estimated period. The growth is mainly attributed to the growing vehicle production coupled with increasing demand for comfort features and safety in vehicles.
Industry Updates
November 15, 2018: Sanhua, a Chinese manufacturer of HVACR components for commercial, residential, and automotive air conditioning will be opening the Sanhua Texas Technology Center in Houston, Texas. The STTC will complement Sanhua’s R&D and testing facility located at its headquarters in Hangzhou.
Competitive Dashboard
The major players operating the global market are Subros Limited (India), MAHLE GmbH (Germany), Valeo SA (France), SMAC Auto Air (New Zealand), Samvardhana Motherson Group (India), Mitsubishi Heavy Industries Ltd. (Japan), Denso Corporation (Japan), Keihin Corporation (Japan), Hanon Systems (South Korea), and Calsonic Kansei Corporation (Japan).
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Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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