Global market for climate control system for commercial vehicle was valued at more than USD 11,000 Mn in 2017 and is expected to expand at an impressive growth rate during the forecast period (2022-2030).
The automotive sector is highly competitive, therefore, keeping at par with other market contenders is extremely important for survival. There has been a constant focus on improving the occupant experience, prompting carmakers to go an extra mile in the process. Integration of climate control system in commercial vehicle is yet another instance of how the automotive industry is evolving its products using new-age technologies. Addition of the technology, allows optimization of in-car climate irrespective of the external condition. The feature is finding popularity as comfort continues to be the top-priority for car owners.Demand for climate control system for commercial vehicle is expected to witness a considerable upsurge in the forthcoming years.
This MRFR report delivers a comprehensive analysis of the global climate control system for commercial vehicle. The primary objective of the report is to deliver a market forecast for the next five years until 2023. The report sheds light on all the primary elements that are expected to impact the growth trends of the market over the next couple of years. Revenues analysis on the basis of component types such as compressor, condenser, receiver-drier, evaporator, control valves, actuators, thermostat, coils, relays, sensor. The report also enlists the type of commercial vehicles that are integrated with climate control systems, which include truck, bus, ambulance, minivan, cargo van, and trailer. Climate control system for electric commercial vehicle types covers hybrid and full electric vehicle. Truck applications of the climate control system analyzed include long haul, regional and specialty. Sales channels profiled in the report include OEMs and aftermarket.
Value, Market Share, Player Analysis, country level break down for each segment
Valeo S.A, Sanden Holdings Corporation, Hanon Systems, Denso Corporation, Eberspächer, Bergstrom Inc., Webasto, Red Dot Corporation, Mahle GmbH, Calsonic Kansei Corporation Mobile Climate Control, and Wabco.
Market Research Future (MRFR) leverages fail-safe methodologies for delivering actionable insight into the market. Extensive primary and secondary research is undertaken for an in-depth analysis of the cross-market trends. Primary and secondary data are sourced from credible sources, which include interviews with key industry opinion holders, surveys, questionnaires, SEC filings, whitepaper references, and paid database services among others. Top-down and bottom-up approaches employed ensure a high –accuracy of the research findings present in our reports. A thorough study of the vital elements influencing market shifts ensures the credibility of the market observations. A multi-layer verification process authenticates the accuracy of the market size and revenue estimation. Emphasis is place on enabling our clients to plan and implement go-to-market strategies and realize essential goals.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for climate control system for commercial vehicle
|Market Size||2023: USD 22billion|
|CAGR||7% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Vehicle Type, Application, E-Commercial Vehicle Type, Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Valeo S.A, Sanden Holdings Corporation, Hanon Systems, Denso Corporation, Eberspächer, Bergstrom Inc., Webasto, Red Dot Corporation, Mahle GmbH, Calsonic Kansei Corporation Mobile Climate Control, and Wabco.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Increasing initiatives being undertaken by the governments for reducing carbon footprints|
The climate control system for commercial vehicle market is expected to thrive at a considerably high 7% CAGR by 2030.
By 2023, the climate control system for commercial vehicle market can value at USD 22 Mn.
Webasto, Mahle GmbH, Calsonic Kansei Corporation Mobile Climate Control, and Red Dot Corporation are some reputed names in the climate control system for commercial vehicle market.
Truck, minivan, ambulance, bus, trailer, and cargo van are commercial vehicles that use climate control systems.
The increase in demand for well-equipped vehicles can prompt the climate control system for commercial vehicle market growth.
Denso Corporation, Valeo, Mahle GmbH, Hanon Systems, and Eberspächer Group are a few of the major players operating in the global climate control system for commercial vehicle market in 2017. Denso Corporation held the largest share among top five players with a share of 24.31% as of 2017 followed by Valeo and Mahle GmbH with respective shares of 18.18% and 11.42%. These companies continue to retain their presence through expansion, mergers and acquisitions, partnerships and collaboration, and extensive product portfolio.
Denso Corporation is a major manufacturer of electronic parts for automobiles. The firm develops various products, which include automobile air conditioners, airbags, ignition systems, generators, power steering systems, and spark plugs with iridium electrode. Denso also produces communication equipment for mobile navigation system. The firm supplies OEM and aftermarket components and systems for most of the world's carmakers. The firm operates six product groups, which include powertrain control, information and safety, electric, electronic, small motors, and thermal systems. The global automotive climate control system for commercial vehicle market contributes to thermal system business group. The major subsidiaries of Denso Corporation are Asmo, Denso Ten, Denso Wave, Denso Techno Co., and others. DENSO is working at length to expand its global business. DENSO has continued to expand its business and has a global network of 188 consolidated subsidiaries across 35 countries. Currently, the company maintains regional headquarters covering its operations in Japan, North America, Europe, Asia, and other regions. Spearheaded by these regional headquarters, steps have been taken to set up an independent structure within each region while promoting increased awareness toward the Group’s business policies.
Valeo is the leading provider of automotive systems and components. The company operates majorly in four business groups, which includes the comfort and driving assistance systems, powertrain systems, thermal systems, and visibility systems. The thermal systems business group develops and manufactures systems, modules, and components to provide comfort inside the cabin of the vehicle. The thermal business group develops products that include climate control, powertrain thermal systems, climate control compressors, and front-end modules. The company has adopted acquisition as its major strategy to extend its thermal management activities in bus market. In 2017, the firm had an overall business group acquisition cost of about USD 115.2 million, of which USD 55.4 million were paid to external fund, representing a sharp increasing acquisition cost as compared to initial estimation. The high increase in the external fund is majorly because of acquisition during the period. The acquisition of Spheros (now Valeo’s Thermal Bus Systems Product Group) leverages its technologies related to air conditioning system. The acquisition with Spheros will allow Valeo to gain the leading position in Europe and North America, specifically in Germany, Finland, Turkey, U.S., Brazil, China, and India.
Mahle specializes in the design and manufacture of automotive engine components, filtration and engine peripherals, engine systems and components, thermal management, electric drive systems and others. The company has presence in 34 countries with about 170 production locations, and 15 major development locations in Germany, Great Britain, Luxembourg, Slovenia, U.S., Brazil, Japan, China, and India. In the original equipment industry, the company delivers technologically innovative solutions for automotive, machinery, and other industrial applications. The aftermarket business segment, however, serves independent parts market with MAHLE products in OE quality. Mahle GmbH is addressing the current change in the automotive industry through a dual strategy, by focusing on optimizing the combustion engine as well as by focusing on new developments in alternative drive technologies. As a continuous process in optimization of combustion engines, the company is making it more efficient by lowering its emissions, which will remain a very important element of the drive mix of the future from the perspective of environmental and economic viability.
Hanon Systems develops innovative eco-friendly and high-efficient thermal and energy management solutions for automotive. The company offers products and systems for automotive applications, which includes heating, ventilation, and air conditioning. The firm offers a wide range of thermal solutions designed for conventional and electric, hybrid, fuel cell, and autonomous vehicles. Various products that Hanon Systems develops are HVAC, powertrain cooling, compressor, fluid transport, thermal and emission, and others. The major subsidiaries of Hanon Systems are Climate Systems Mexicana S.A., Coclisa S.A. de C.V., Halla Climate Control Canada Inc., Visteon Electronics India Private Limited, and others. Hanon Systems is majorly focused on strengthening its position in thermal and energy management solution in the automotive market. The company is committed to developing sustainable, eco-friendly and fuel-efficient solutions. The firm has adopted innovation as its strategy to strengthen its product line to compete in the market. The company follows three main strategies, which are innovating the technology, driving enterprise excellence, and accelerating growth.
Eberspacher is a system developer and supplier of exhaust technology, vehicle heaters, and bus air conditioning systems. It is also engaged in automotive electronics for networking in the vehicles. The company is engaged in three divisions, namely Exhaust Technology, Climate Control Systems, and Automotive Controls. As a systems supplier, the company is engaged in the development, design, and manufacture of components and complete solutions for automotive manufacturers. It delivers products to OEMs as well as it supplies to the aftermarket with spare parts and other retrofit solutions. Global climate control for commercial vehicles market contributes to climate control system segment. Recently, in 2016, the company opened exhaust gas plant in Romania. The high growth of Exhaust Technology is due to the newly won orders that boost the expansion of production capacities. The major strategy of the company is to expand its geographic presence. The company is strengthening its presence in the global market by making huge investments in future growth markets such as Asia and Eastern Europe. For instance, the company is extending its bus air conditioning activities in Brazil. The firm is also focusing on bus & Coach Product group for further development of the production plants.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnerships and collaborations, followed by mergers and acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is likely to intensify further due to an increase in new product developments and business expansions.