Key Players in the Auto Climate Control System Market Size Tap Emerging Economies till -2023
Global Auto Climate Control System Market Size, Research Report: Information By Technology (Automatic, and Manual), Vehicle Type (Passenger Vehicle, and Commercial Vehicle), and Regions (North America, Europe, Asia Pacific, and RoW) – Forecast Till 2023
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Global Auto Climate Control System Market Size, Research Report: Information By Technology (Automatic, and Manual), Vehicle Type (Passenger Vehicle, and Commercial Vehicle), and Regions (North America, Europe, Asia Pacific, and RoW) – Forecast Till 2023
Auto Climate Control System Market Size Synopsis
Automotive climate control system, as the name suggests creates ambient comfort within the vehicle. The system refers to the car’s integrated heating, ventilation, and air conditioning (HVAC) system and is designed to provide comfort to the passenger as quickly as possible. As heat flows from areas of high temperature to low temperature; the climate control system creates a flow of cooling air below the ambient air temperature using a vapor compression system.
Automotive climate control system has become standard equipment in every vehicle. As a matter of fact, it is even ranking head of anti-lock braking systems (ABS). Considering the demand for futuristic comfort features, nowadays, most of the vehicles are equipped either with manual or automatic climate control system.
Key Players
Valeo S.A. (France), Hanon system (South Korea), Sanden Corporation (Japan), Denso Corporation (Japan), and Eberspächer Group (Germany) are some of the major participants of the global Auto Climate Control System Market Size expected to play crucial roles in the share analysis. Some other players anticipated to contribute a considerable amount of revenue to the market are Bergstrom Inc. (U.S.), Keihin Corporation (Japan), Calsonic Kansei Corporation (Japan), Mahle GmbH (Germany), and Air International Thermal system (Australia). Technological innovations are poised to attract investments by key participants for staying ahead of the curve. In addition, growth trajectories such as mergers & acquisitions, collaborations, partnerships, agreements, etc. are anticipated to be leveraged for gaining edge over other competitors.
Market Segmentation
On the basis of technology, the key segments of the global Auto Climate Control System Market Size are automatic and manual. Among these, the automatic segment is likely to gain traction of the market in the nearby future owing to rising demand for high-end automobiles. The global economic development is poised to support the growth of the segment over the next couple of years.
Based on vehicle type, the segments of Auto Climate Control System Market Size are passenger vehicle and commercial vehicle. Among these, the passenger vehicle segment accounted for 63% share of the market in 2016. Increasing per capita income and rising middle-income population have led to an exponential rise in demand for passenger cars. This, in turn, is expected to boost the growth rate of the segment in the years to come. It is also prognosticated to register a relatively higher CAGR across the assessment period.
Regional Analysis
The regional assessment of the global Auto Climate Control System Market Size is covered in this MRFR report on regional and country-level basis. The regional segments identified in the analysis are - North America, Europe, Asia Pacific (APAC), and the Rest of World (RoW). Asia Pacific held the largest share of the market in 2016. It is estimated to account for a significant market share over the next couple of years. Increasing demand for passenger cars supported by rising income levels is anticipated to drive the growth pace of the Auto Climate Control System Market Size in the region in the years to come. The automotive industry in the region has been observing rising demand for advanced features. This, in turn, is prognosticated to lead the expansion of the regional market over the next few years.
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Datum: 26.02.2020 - 08:38 Uhr
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