Automotive Air Conditioning Market is Expected to Showcase Rampant Growth Over 2023

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Automotive Air Conditioning Market.

Market Overview

According to the latest report by Market Research Future (MRFR), the global automotive air conditioning market is slated to acquire a substantial market valuation at a steady CAGR over the review period.

This significant growth is attributed to influential factors such as the rise in the demand for commercial and passenger vehicles, and changing consumer preferences towards automobiles. Moreover,

Segmental Analysis

The global automotive air conditioning market is segmented on the basis of technology, component, and vehicle type.

The types of technologies deployed in the market for automotive air conditioning systems are automatic and manual. The automatic segment holds the largest market share and is expected to retain its leading valuation over the forecast period. This is because of the ability of automated technology equipped in the sensors of automotive air conditioning systems, that detect the current temperature in the vehicle and increase or decrease it to the desired temperature of the consumer. This technology is preferred by consumers owing to its convenience.

The various forms of components used in automotive air conditioning systems are a compressor, condenser, evaporator, and receiver. Compressors segment accounts for the largest market share over the review period, owing to its superior properties such as heat absorption, heat transfer, and the condensation of excess heat that enters the air conditioning systems. These properties encourage the increasing adoption of compressors.

The vehicle types using automotive air conditioning systems are passenger cars and commercial automobiles. The passenger car segment is assessed as the fastest-growing segment of the market, owing to the increasing demand and production of passenger vehicles equipped with air conditioning systems. This demand is expected to contribute substantially towards the market growth over the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/automotive-air-conditioning-market-2386

Regional Analysis

Based on the region, the global automotive air conditioning market is analyzed in North America, Europe, Asia Pacific, and the Middle East and Africa.

The Asia Pacific is the largest region in the global automotive air conditioning market and is expected to account for the dominant market share over the review period. This is attributed to the rapid industrialization and the massive demand for automobiles in the developing countries of the Asia Pacific such as India, China, and Japan, among others, driven by the enormous population growth along with the increasing disposable income of consumers.

North America is the second-largest region of the global automotive air conditioning market and is expected to retain its substantial market share over the review period. This growth is due to the early adoption of technological advancements in the region, demand for superior quality automobiles and automotive components, and the presence of major market players in the region, especially in developed countries such as the US and Canada. These influential factors are expected to have a significant impact on the growth of the automotive air conditioning market in North America over the forecast period.

The market for automotive air conditioning market in Europe is also considered significant in the global standing and is expected to contribute notably to the global market share over the assessment period. This is credited to the demand for superior quality, technologically advanced automotive components in the region to meet consumer demand for high-quality passenger cars. this is driven by the high disposable income of the consumers in the region, and the less adoption of two-wheeler vehicles in comparison to the massive adoption of passenger cars. Germany, France, and the UK have been assessed as the major contributors towards the market growth of the European automotive air conditioning market over the evaluation period.

Key Players

The key players identified in automotive air conditioning market are Calsonic Kansei Corporation (Japan), Denso Corporation (Japan), Hanon Systems (South Korea), Keihin Corporation (Japan), MAHLE GmbH (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Samvardhana Motherson Group (India), SMAC Auto Air (New Zealand), Subros Limited (India), and Valeo SA (France), among others.