Press release
How Covid-19 Impact Could Open Te Door For Vehicle Auxiliary Power Market
Vehicle Auxiliary Power: IntroductionThe vehicle auxiliary power unit provides electric power to operate various functions in the vehicle without having to rely on the IC engine. The independence of the auxiliary power unit from the engine opens the potential to separately utilize the propulsion and supply of electricity, which offers higher economy and reduced fuel consumption of the vehicle.
The auxiliary power unit also used in marine vessels and aircraft for various applications including staring the engine, charging batteries, and for heating and cooling
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Key drivers of global Vehicle Auxiliary Power Market
Increase in demand for vehicles with various features, such as center lock system and windows and sun roof control, would require auxiliary power to drive these features. This, in turn, is estimated to boost the vehicle auxiliary market. Increase in vehicle production across the globe and rise in adoption of advanced features in vehicles, such as electronic control unit and navigation system, is projected to drive the vehicle auxiliary power market across the globe.
Various vehicle manufacturers across the globe are trying to develop fuel cell technology as a substitute for the vehicle auxiliary power unit. Fuel cells offer higher efficiency of direct electrochemical conversion, which can reduce the fuel consumption. Fuel cells provide power even when the engine shuts down; hence, adoption of this technology is anticipated to boost the vehicle auxiliary power market.
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Asia Pacific and North America to hold prominent share of vehicle auxiliary power market
Asia Pacific is likely to hold a significant share of the global vehicle auxiliary power market due to an increase in vehicle production and sale in the region. Asia Pacific has major developing countries including India and South Korea, which have large industrial presence and witness a considerable demand for electric vehicles.
Followed by Asia Pacific, North America also holds a major share of the global vehicle auxiliary power market due to an increase in the demand for electric vehicles. Honeywell International Inc., a major player in the North America, which has notable research and development facilities regarding auxiliary power unit. Hence, all factors mentioned above are estimated to boost the vehicle auxiliary power market in North America.
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