Automotive Climate Control System Market 2018 Industry Global Size, Share, Growth, And Key Company Forecast To 2027

Automotive Climate Control System Market is expected to reach USD 24,853.4 million by 2023, with a CAGR of 14.92%. Market Research Future published a Cooked research report on “Global Automotive Climate Control System Market Research Report - Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Following Automotive Climate Control System Key Companies Market Analyzed In Report: 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), and Eberspächer Group (Germany). Bergstrom Inc. (U.S.), Mahle GmbH (Germany), Calsonic Kansei Corporation (Japan), Keihin Corporation (Japan), and Air International Thermal system (Australia) are among others.

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Market Highlights:

The Global Automotive Climate Control System Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Climate Control System will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027). 

According to the Automobile Association of America (AAA), lower gas prices have not inhibited enthusiasm for electric cars. As per the market research, the demand for electric car is likely to increase in the coming years. As reported by the New York Times, more than 30 million Americans are likely to buy electric car as their next vehicle. Heading towards APAC region, China has named itself as the leading market for electric vehicles. In terms of market development, China has sold more than 507,000 electric vehicles and plug-in hybrid electric vehicles in 2016, which was around 53% higher than that in 2015, followed by the US and Europe. Moreover, the key market players are more inclined towards focusing on electric vehicles and have started offering EV range for models including hatchbacks, superminis, sedans, large family cars, and vans. In addition, it has been witnessed that electric car positioning in the European market is quiet fast. As in 2016, Norway electric car market share was around 29% which was estimated as the highest across the globe, followed by the Netherlands with 6.4%, and Sweden with 3.4%. The European electric car market is set to switch from early positioning to mass market adoption over the next decade. As per the associations, market analysis and recent statements of car manufacturers, around 9 to 20 million electric car could be positioned by the year 2020 and around 40 to 70 million by 2025.

This surge in demand for electric vehicle is expected to directly compliment the increasing demand of the automotive climate control systems. Increasing electrification of automobiles was one of the major factors that created a market for climate control systems in automobiles in the first place. Development of advanced electric and hybrid vehicles will further provide growth prospects in this market.   

In the automotive climate control system market, the gradually changing consumer preference has played a major role. Over time, with the stabilization of socio economic conditions of individuals has led to gradually increasing disposable income. With the rising disposable income, individuals over time could afford to prioritize their comfort. 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 automobile manufacturers have been able to tap in these additional revenue streams by adding these features in the vehicles and in turn creating a significant market for the automotive climate control systems. Through technological development, the manufacturers are focusing on making such features more user friendly and thus pushing the demand in the market.

The manual air conditioning system needs continuous monitoring and follow-up to maintain a certain temperature in the vehicle. On the other hand, the automatic climate control systems enable passengers to set a desired temperature and the system maintains it. Automatic climate control systems also manage the air conditioning within the vehicle, to adjust and provide the desired temperature, according to the external temperature. In addition, the manufacturers are focusing on zoning facilities, which basically divides the environment within the vehicle into separate climates based on the requirements of each passenger.

An automatic climate control feature is certainly superior to the manual air conditioning. The only major restraint for this feature is the price tag that comes along with it, which discourages individuals from purchasing it. Therefore, the manufacturers have to face the challenge of developing high quality products at affordable prices to attract more customers.

Table of Contents:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Stud

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

Continued...

List of Figures:

FIGURE 1 Research Process Of MRFR

FIGURE 2 Top Down & Bottom Up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value Chain Analysis

Continued...

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