Rise in Disposable Income to Drive Automotive Air Conditioning Market|Industry Growth, Key Findings, Major Companies Analysis and Forecast to 2023

 

  Market Synopsis

The major factors that are responsible for the expansion of the global automotive air conditioning market 2020 are upsurge in demand for commercial and passenger automobiles, fluctuation in consumer preferences, and government initiatives to advance the technology for air conditioning systems. There has been a rise in the manufacture of passenger and commercial automobiles for the last few years in nations such as India, China, and Japan. The rise in manufacture is primarily owing to cheaper labor due to which many automakers prefer to build their base in nations such as China, India, and Japan. The rise in sales of new vehicles will lead to the higher installation of air conditioning in automobiles which will bring an impact on the market. The gradual change in consumer preference has played a major role in the expansion of the automotive air conditioning market. Over time, the stability of the socio-economic situation of an individual has resulted in a  rise in disposable income. With the increase in disposable income, consumers will prefer buying a developed and latest air conditioning system. Consumers in the automotive industry pay attention to additional characteristics such as climate control systems, pedestrian identification, and blind sport identification coupled with the aesthetic characteristics of the vehicle. There, the development of the technology from manual air conditioning to automatic air conditioning will lead to the expansion of the market during the review period.

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      Market Segmentation

The Automotive Air Conditioning Market can be segregated into technology, vehicle type, component, and regions.

On the basis of technology the market can be divided into Automatic and Comprises Manual. The automatic technology is estimated to lead the market during the review period because it allows the owner of a vehicle to fix a particular temperature for one area within the automobile.

On the basis of vehicle type, the market can be divided into Commercial Vehicle, Passenger vehicle, and other. Passenger car vertical is estimated to lead the market during the review because of the rise in the production and sales in the APAC region. The rise in the manufacture of passenger cars will lead to the high installation of air conditioning systems in vehicles. The high installation will, therefore, add on to the sales and result in the expansion of the market in the future.

On the basis of Component, the market can be divided into Evaporator, Compressor, Receiver, and Condenser. Compressors are estimated to reign the market during the review period as they execute important tasks like absorbs heat, heat transfer, condense excess heat which enters the air conditioning.

On the basis of region, the market can be divided into Europe, North America, APAC and the Rest of the World. The APAC region is estimated to lead the market during the review period owing to the increasing industrialization, growing population, robust expansion of the manufacturing sector.

Regional Analysis

On the basis of geography, the market is divided into Asia Pacific, North America, Europe, and the Rest of the World. The APAC region is likely to reign the market during the review tenure because of the rapid industrialization, increasing population, robust expansion of the manufacturing sector. The automakers are inclining towards technology-driven parts, which will not require too much of hard work by the consumer to function. The advancement of technology-driven automobiles will lead to the growing adoption of automatic air conditioning in automobiles. The rising adoption will bring an impact on the growth of the market in the future. The North American market is estimated to be the second-largest market to expand during the review period.

Key Players

The major competitors in Automotive Air Conditioning market are Hanon Systems (South Korea), Denso Corporation (Japan), Mitsubishi Heavy Industries Ltd.(Japan), Valeo SA (France), MAHLE GmbH (Germany), Calsonic Kansei Corporation (Japan), Keihin Corporation(Japan), Subros Limited (India), Samvardhana Motherson Group (India), SMAC Auto Air (New Zealand) are among few others.

 

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• 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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