Opportunities for global automotive air conditioning market to reach $24.9 billion by 2021

According to a new market report published by Lucintel, the future of the global automotive air conditioning market looks promising with opportunities in segments of passenger car and commercial vehicle. The global automotive air conditioning market is expected to reach an estimated $24.9 billion by 2021 and is forecast to grow at a CAGR of 5.2% from 2016 to 2021. The major drivers of growth for this market are increasing vehicle production rate, dynamic changes in the climatic conditions and pollution level, and higher requirement of customers for comfort while vehicle driving.
In this market, automatic air conditioning system and manual/semi- automatic air conditioning system are the major segments of automotive air conditioning. On the basis of its comprehensive research, Lucintel forecasts that the automatic air conditioning system segment is expected to show above average growth during the forecast period of 2016 to 2021. Automatic air conditioning system segment is expected to be the largest segment due to the increasing demand of updated and high-tech comfort features in passenger cars.
By vehicle type, passenger car segment is expected to be the largest segment. Passenger car is expected to show above average growth during the forecast period due to high production rate of the passenger car.
Asia Pacific is expected to remain the largest market due to high growth in mid-size, luxury and light vehicle production, and increasing temperature within region.
Europe and North America are expected to witness significant growth over the forecast period because of high growth in vehicle production and sales combined with growing demand of safety and comfort features in vehicles.
For business expansions, the report suggests innovations and new product development, to produce high-quality thermal management solutions that address various regulatory requirements. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.

Emerging trends, which have a direct impact on the dynamics of the industry, include smaller and lightweight air conditioning system and new features in the functioning of the air conditioning systems. Denso Corporation, Mahle Behr Gmbh & Co. KG, Valeo SA, Hanon System, and Calsonic Kansei Corporation are the major automotive air conditioning system suppliers in the global automotive air conditioning market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive air conditioning market by technology type, vehicle type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Air Conditioning Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global automotive air conditioning market by technology type, vehicle type, and region, as follows:

Technology type (Volume (Million Units) and $ Million from 2010 to 2021)
• Automatic
• Manual/Semi-Automatic

Vehicle type (Volume (Million Units) and $ Million from 2010 to 2021)
• Passenger Car
• Light Commercial Vehicle

Region (Volume (Million Units) and $ Million from 2010 to 2021)
• North America
• Europe
• Asia Pacific
• Rest of the World

This 222-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

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This release was published on openPR.