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Automotive Air Conditioning Market Size, Share, Growth, Trends Analysis 2019 To 2023 Research Report
Posted: Mar 08, 2019
Automotive Air Conditioning Market Research Report: Information By Technology (Manual and Automatic), Component (Compressor, Evaporator, Receiver and Condenser), Vehicle type (Passenger Car and Commercial Vehicle), and Regions – Forecast till 2023.
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The factors that are responsible for the growth of automotive air conditioning market are 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. The increase in production is majorly due to the availability of low-cost labor, which attract many automakers to set up their base in countries such as India, China, and Japan. According to OICA, the sales of new vehicles have increased from 2013 to 2016. In 2013, the number of vehicles sold were 85.6 million while in 2016, it was 93.8 million.
The factors that are responsible for the growth of automotive air conditioning market are 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. The increase in production is majorly due to the availability of low-cost labor, which attract many automakers to set up their base in countries such as India, China, and Japan. According to OICA, the sales of new vehicles have increased from 2013 to 2016. In 2013, the number of vehicles sold were 85.6 million while in 2016, it was 93.8 million. The increase in sales of new vehicle will result in higher installation of air conditioning in the vehicles, which will drive the market.
The gradual change in the consumer preference has played a major role in the growth of automotive air conditioning market. Over time, the stabilization of socio-economic conditions of individuals has led to gradually increasing disposable income. With the increase in the disposable income, consumers will move towards buying of advanced air conditioning system. Over time, consumers in the automotive industry focus on additional features such as climate control systems, pedestrian detection, and blind sport detection along with the aesthetic features of the vehicle. The advancement in the technology from manual air conditioning to automatic air conditioning will hence result in the growth of the market during the forecast period.
The key players in Automotive Air Conditioning market 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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