Climate Control System for Commercial Vehicle Market 2019 Global Industry Analysis To 2023, is latest report on Global Climate Control System for Commercial Vehicle Industry, published by Market Research Future. Global Climate Control System for Commercial Vehicle market expected to rise at a CAGR of 9.04%.

Climate Control System for Commercial Vehicle-Competitive Dashboard:

Some of the key players profiled by MRFR in the report are 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.

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Global Market Highlights:

global climate control system for commercial vehicle market is projected to grow from USD 11,078.2 Mn in 2016 to USD 18,511.7 Mn in 2023. The market is estimated to register a robust CAGR of 9.04% during the forecast period 2018 to 2023. The rising concern regarding carbon emission from vehicles has led to a shift towards legislative enforcements regulating the efficiency of climate control systems. The National Renewable Energy Laboratory (NREL) works closely with the vehicle manufacturers, suppliers, and fleet operators for innovating climate control system to reduce fuel consumption and emission. The thermal management in vehicles is a key area of focus in the automobile industry, which is likely to catapult the global climate control system for commercial vehicle market on an upward trajectory. The increasing initiatives being undertaken by the governments for reducing carbon footprints is expected to catalyze demand for climate control systems in vehicles.

The key players strive to gain competitiveness over competitors in the market which has fueled research & development activities and investments in innovations. The market being a capital intensive one necessitates the smooth influx of investments for adoption of latest technologies, which is one of the key opportunities projected to drive the expansion of the market. However, high capital requirements act as an impediment to the entry of the new players. Additionally, automotive climate control systems require high maintenance and frequent equipment upgrades for performance upliftment. It is likely to hold market proliferation during the assessment period.

Segmentation:

Global climate control system for commercial vehicle market segment into the various key dynamics better understanding of the report. The dynamics include commercial vehicle type, truck type, application, component type, electric commercial vehicle type, and sales channel.

By component, the market segments into condenser, evaporator, compressor, control valves, sensors, thermostat, coils, receiver-drier, relays, and others. The component segment holds the largest Share in this market category with close to 16.32% to its name as per the studies conducted in 2017. Standing next with the second largest share of the market is the condenser segment. The segment accounted for 15.01% of the market share in 2017.

Buy commercial vehicle type, the market segments into cargo Van, trailer, bus, truck, ambulance, minivan, and others. Herein, the truck segment is further narrowed down into medium duty, light duty, and heavy duty. The truck duty segment holds the highest market share as per the report published in 2017. The segment covered more than 30% of the overall market category. The bus segment stood out as the second largest commercial vehicle segment with a market share of 25.2%.

Regional Outlook:

By region, the market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Americas currently commands the maximum share of the market. It is likely to retain its pole position towards the end of 2023. The consolidation of key players in the region has intensified competition and led to exponential investments in the adoption of advanced technologies. The recent trend of converted mobile homes in the U.S. is likely to catalyze the growth of climate control system for commercial vehicle market. The demand for commercial vehicles coupled with the long hours being spent in cars by customers has fueled the demand for enhanced comfort. This, in turn, is expected to propel the need for efficient climate control systems in vehicles as it plays a crucial role in providing comfort.

Asia Pacific is likely to remain highly lucrative market throughout the assessment period. The region is estimated to witness a surge in demand for commercial vehicles from fast developing economies. Additionally, the demand for electric cars has been on the rise in China, which is projected to drive the proliferation of the climate control system for commercial vehicle market. These factors are anticipated to encourage the acceleration of revenue creation in the market. China is one of the largest emerging markets for automotive climate control system accounting for the most significant share of the market in Asia Pacific presently. The recent developments introduced in the market as a response to the strict government policies regarding fuel emission are poised to open avenues of growth opportunities for the market players.

List of Tables:

TABLE 1 MARKET SYNOPSIS 23

TABLE 2 LIST OF ASSUMPTIONS 26

TABLE 3 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY COMPONENT TYPE, 2016-2023 (USD MILLION) 48

TABLE 4 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY COMPONENT TYPE, 2016-2023 (MILLION UNITS) 49

TABLE 5 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY COMMERCIAL VEHICLE TYPE, 2016-2023 (USD MILLION) 53

TABLE 6 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY COMMERCIAL VEHICLE TYPE, 2016-2023 (MILLION UNITS) 54

TABLE 7 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY TRUCK TYPE APPLICATION, 2016-2023 (USD MILLION) 57

TABLE 8 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY TRUCK TYPE APPLICATION, 2016-2023 (MILLION UNITS) 57

TABLE 9 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY ELECTRIC COMMERCIAL VEHICLE TYPE, 2016-2023 (USD MILLION) 60

TABLE 10 GLOBAL CLIMATE CONTROL SYSTEMS FOR COMMERCIAL VEHICLE MARKET, BY ELECTRIC COMMERCIAL VEHICLE TYPE, 2016-2023 (MILLION UNITS) 61

Continued…

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