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Automotive Climate Control System Global Market Prognosticated To Accrue With A Whooping CAGR by 2027; Asserts MRFR :

Pune, India, January 4, 2018/MRFR Press Release/- 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.

Denso Corporation, Hanon Systems, Mahle GmbH, Valeo SA, Sanden Holdings Corporation, Calsonic Kansei Corporation, Keihin Corporation, Japanese Climate Systems Corporation, Air International Thermal Systems, Subros Limited, Eberspächer Group and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Climate Control System Market.

Automotive Climate Control System Global Market – Overview

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.

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Industry/ Innovation/ Related News:

In July 2016, Valeo announced its acquisition of a 50% stake in the capital of CloudMade, a developer of smart and innovative big data-driven automotive solutions such as a machine learning platform. The purpose is to improve and personalize vehicle comfort and safety for motorists and their passengers.

In May 2017, Mahle group opened a new climate compressor plant in Changshu, China; with an investment of approximately USD 28.5 million, on the production facilities at Changshu. With this expansion, the company has strengthened its presence in China.

During the same period, Mahle completed the takeover of electronics specialist Nagares SA, a Spanish company. This takeover would result in new product portfolio, including control units and power electronics for electric auxiliary components and thermal management systems.

In September, 2016 Hanon Systems had an agreement with Shandong Binzhou Bohai Piston Co. Ltd., to provide heating, ventilation and air conditioning (HVAC) assemblies to support a global automaker operating in China. This will operate under the name Beijing BHAP Hanon Systems Co., Ltd.

In Jan 2017, Hanon Systems launched a new manufacturing plant in Ohio. The facility will mold and assemble innovative and eco-friendly heating, ventilation and air conditioning (HVAC) modules on a range of future model year vehicles for various global automakers.

In Oct 2015, Hanon Systems planned to start the production at a new plant in Monterrey, Mexico, to support the company’s growth strategy in support of global vehicle manufacturers. The plant will manufacture heating, ventilation and air conditioning (HVAC) units and cooling modules for various new Kia models.

Automotive Climate Control System Market – Segmentation

The Global Automotive Climate Control System Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by TechnologyComprises Automatic, Manual

Segmentation by Vehicle TypeComprises Passenger Vehicle and Commercial Vehicle

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Climate Control System Market: Regional Analysis

The market for automotive climate control systems is expected to grow with an increase in demand for automobile, majorly in the United States. There is an immense demand of commercial vehicles in United States. With the increase in demand of commercial vehicles there is an increase in demand for automotive climate control systems market. The growth of the North America region is also driven by the adoption of converted mobile homes in U.S. The spending of much of the time in Vehicles by the people generates the need for adoption of advanced technologies, such as climate control systems for achieving the desired comfort.

In Europe region, the commercial vehicles are expected to grow with a CAGR of almost 9%, owing to the growth in the home delivery sector. For the safe distribution of goods and efficient city transportation, original equipment manufacturers in Europe region are focusing on the advanced safety features for these vehicles, which will be a major driver for market growth in the region. The U.K, Germany, and Italy account for a majority of the market share of automotive climate control systems in this region.