Automotive climate control provides a comfortable environment within vehicles. Increase in the usage of automotive thermal systems is one of the key drivers of the automotive climate control market. Automotive climate control is one of the most essential parts of an automobile thermal system. Owing to the need for climate control devices in automobile, it is expected that the demand for automotive climate control will increase over the forecast period. Some of the major factors driving the automotive climate control market are increasing growth of electrification of automobiles, rise in the use of eco-friendly refrigerants, and stringent emission norms.
Escalating demand for multi-zone climate control in cars is likely to register a significant growth over the forecast period. Introduction of automatic climate control had restricted the manual interference of observing and governing the temperature of the vehicle. The automotive climate control market regulates the humidity and temperature and also uses sensors that are combined with HVAC systems which are operated through a microcontroller unit. The improvement of the system has increased the relaxation level and as a result it has shifted the demand for automotive climate control market across the globe. This is likely to create more opportunities for the automotive climate control market.
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The automotive climate control market has been segregated by technology into automatic and manual automotive climate control. Automatic automotive climate control was the most dominant segment in 2015 and it is expected to remain so over the forecast period. Automatic automotive climate control helps to regulate the cabin temperature and it automatically selects cooling, heating, or a combination of both. It also helps in monitoring the blower speed so that the temperature remains desirable.
On the basis of geography, the automotive climate control market is segmented by North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. Asia Pacific accounted for majority of the market share in 2015 and is expected to remain dominant over the forecast period. The rise in adoption of high-volume passenger cars has contributed to the growth of the automotive climate control market in this region. The consumer preference for mileage to features and looks is one of the key factors driving the automotive climate control in this region. China is one of the large markets for automotive climate control in Asia Pacific. North America has a considerable share in the global automotive climate control market. The US accounts for majority of the market share in this region. Owing to the shift in preference from mileage to features and looks, Europe has a sizeable market share in automotive climate control. The U.K, Germany, and Italy account for a majority of the market share of automotive climate control in this region. Middle East & Africa has an emerging automotive climate control market due to the rise in adoption of passenger cars in this region. Saudi Arabia is one of the large markets for automotive climate control in this region. Latin America is one of the emerging region in the automotive climate control market. Brazil accounts for one of the large markets for automotive climate control in this region.
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The global automotive climate control market is highly competitive with a number of manufacturers at the global level. Automotive climate control is experiencing a rapid pace of growth owing to the rise in investment and development of new technologies. The key players in the market are DENSO, MAHLE, Valeo, and Hanon Systems. Some of the other key players in the market are Sanden, Air International Thermal Systems, and Japan Climate Systems Corporation among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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