Automotive Climate Control System Market 2018 Receives a Rapid Boost in Economy
Posted by rishikeshkuranewg on August 29th, 2018
Automotive Climate Control System Market 2018
Global Automotive Climate Control System Market Information by Technology (Automatic and Manual), By Vehicle Type (Passenger Vehicle and Commercial Vehicle), and Region - Forecast To 2023
The automotive climate control market is completely dependent on the automobile industry. Thus, the increasing or decreasing demand of the automotive industry directly has an impact on the market. The total four wheeler production across the globe, in 2015, was almost 90 million units and is expected to witness further boost and reach more than 100 million units, by the year 2020. This results as a primary factor driving the growth of the automotive climate control market, as the climate control system of the automobiles have gained prevalence, in the recent times, with technological developments and rapidly increasing disposable income among the consumers. Thus, the growth of the automotive climate control system market is expected to go hand in hand with the automotive industry.
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Also, the gradually changing consumer preference has played a major role in automotive climate control system market. Over time with the stabilization of socio economic conditions of individuals led to gradually increasing disposable income. With the rising disposable income individuals over time could afford to prioritize comfort. Over time consumers in the automotive industry focus on additional features such as climate control, pedestrian detection and blind sport detection along with the aesthetic features of the vehicle.
The Key Players in Global Automotive Climate Control System Market Are:
Valeo S.A. (France), Sanden Corporation (Japan), Hanon system (South Korea), Denso Corporation (Japan), Eberspächer Group (Germany), Bergstrom Inc. (U.S.), Mahle GmbH (Germany), Calsonic Kansei Corporation (Japan), Keihin Corporation (Japan) and Air International Thermal system (Australia).
Manufactures of the automotive industry have been able to tap in these additional revenue streams by adding these features in vehicles and in turn creating a significant market for the automotive climate control market. Through technological development manufacturers are focusing on making such features more user friendly and thus pushing the demand in the automotive climate control market.
Based on vehicle type, the passenger vehicle market segment accounted for 63% of the global market in 2016. With the increase in income levels the passenger vehicle market segment has witnessed a significant rise in production and sales, which resulted in a number of developments of the market. For instance, In January 2014, Denso Corporation developed a new automotive climate control unit, which can be used for a wide variety of vehicles, ranging from compact to luxury cars. The increasing need of passenger’s comfort, changing preferences and life style, rapid urbanization, emerging economies, and several other factors have resulted in the growth of the market in the passenger vehicles. Therefore, the passenger vehicle segment is expected to grow at the highest CAGR, during the forecast period.
On the other hand, the commercial vehicle market segment comprised of almost 37% of the global market. Due to the rise in commercial vehicles for shipping operations, the market segment is expected to witness a rapid growth, during the forecast period. The cut throat competition in the automotive industry has resulted in major manufacturers offering integrated climate control system in commercial vehicles and entry level and budget vehicles, in order to acquire a greater market share and thus rendering the products of other competitors obsolete. The availability of such features in commercial vehicles will result in the new revenue streams for the manufacturers of these system. As a result, it is expected that the market would grow at a CAGR of 11.98%, during the forecast period.
Climate control in automotive is mean to provide comfortable sitting environment inside the vehicles. Over the last few years, the increase in the use of air condition in automotive has pushed the demand for automotive climate control in the global market. Automotive climate control is mainly refers as the integrated HVAC system in vehicles. In 2016, the global automotive climate control system market was valued at USD 9,461.7 million.
The report for Global Automotive Climate Control System Market of Market Research Future comprises of 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.
Complete Report Details of Automotive Climate Control System Market@ https://www.marketresearchfuture.com/reports/automotive-climate-control-market-4163
Table of Contents
1 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET FACTOR ANALYSIS
5 PATENT TRENDS
6 MARKET DYNAMICS
7 GLOBAL AUTOMOTIVE CLIMATE CONTROL SYSTEM MARKET, BY TECHNOLOGY$
8 GLOBAL AUTOMOTIVE CLIMATE CONTROL SYSTEM MARKET, BY VEHICLE TYPE$
9 GLOBAL AUTOMOTIVE CLIMATE CONTROL SYSTEM MARKET, BY REGION$
10 COMPETITIVE LANDSCAPE
11 COMPANY PROFILES
12 LIST OF TABLES
13 LIST OF FIGURES
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