Press release
Automotive AC Parts Market Technological Advancements, Evolving Industry Trends and Insights by 2025
Automotive aftermarket industry and subsequently automotive a/c parts market is totally dependent on the changes in primary automotive industry. The growth drivers and trends in automotive industry will affect automotive a/c parts market.
Low interest rates and low fuel prices is expect to surge growth of automotive industry and subsequently automotive a/c parts industry. Globally the average age of vehicles is increasing as consumers continue to use old or second hand vehicles.
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Rising average age of vehicles is expected to increase the demand for automotive a/c parts. Rising demand for automotive aftermarket parts in emerging economies such as China, India among others is expected to increase demand for automotive a/c parts market.
Rising demand of fuel efficient vehicles by consumers require aged or second hand vehicles be fitted with advanced a/c parts which is anticipated to increase demand for automotive a/c parts.
The major restrain faced by automotive a/c parts industry is increasingly strict government regulations due to environmental concerns which is expected to negatively affect automotive a/c parts market.
There is opportunity for growth of automotive a/c parts market in North Africa through rising investment in automotive sector. Renault and PSA Group is expected to set up manufacturing plants in Morocco to increase automotive spare parts production in the region.
The market when segmented by technology are manual/ semi-automatic a/c, automatic a/c and others. By components the market is segmented into compressor, evaporator, drier/ receiver, condenser and others.
By type the market is segmented into OEM A/C parts and Aftermarket A/c parts. By vehicle type the market is segmented into passenger vehicles, light commercial vehicles (LCV), heavy commercial vehicles (HCV) and others. Aftermarket A/C parts market is larger than OEM A/C parts market.
The market when segmented by geography into Asia-Pacific (APAC),Europe, North America Middle East & Africa (MEA) and Latin America. In North America the U.S. is the largest automotive a/c parts market followed by Canada and Mexico.
The growth of light vehicle sale is highest in Mexico followed by Canada and the U.S in H1 2016. Europe is another major automotive a/c market. In Europe Germany is one of the largest automotive aftermarket and subsequently automotive a/c parts market.
Germany has the largest concentration of OEM automotive manufactures throughout Europe so demand for automotive a/c parts is expected to rise in Germany. Other major automotive a/c parts market in Europe are the U.K, France, Italyand Spain among others. Asia Pacific is another major automotive a/c parts market.
Rising demand of light vehicle sales in South Korea, China, India and Australia among others is expected to increase demand for automotive a/c parts market in Asia-Pacific.
Slowing demand for light vehicle sales in Iran, South Africa among others is expected to slower the growth of automotive a/c market in Middle East & South Africa region.
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Steep decline in sale of light vehicles in Brazil and Argentina is expected to shrink the automotive a/c market in Latin America region. Brazil is going through a recession and is expected to recover in 2017.
Some of the major firms in automotive a/c parts market are ACDelco (the U.S), Anchor Auto Parts (China), Calsonic Kansei Corporation (Japan), MAHLE GmBH (Germany), Keihin Corporation (Japan), Hanon Systems (South Korea), Denso Corporation (Japan), Delphi Automotive (the U.K), Sanden (Japan), OEX among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.
The projections featured in the report have been derived using proven research methodologies and assumptions.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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