Global Climate Control System for Commercial Vehicle market has seen remarkable growth; expected to rise at a CAGR of 4.50%. Rising Demand for EVs Anticipated to Push the Global Climate Control System for Commercial Vehicle Market
Major Climate Control System for Commercial Vehicle Companies covered in the market report include Mahle GmbH, Hanon Systems, Red Dot Corporation, Wabco, Denso Corporation, Valeo S.A, Bergstrom Inc., Eberspächer, Webasto, Sanden Holdings Corporation, and Calsonic Kansei Corporation Mobile Climate Control.
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Global Market Highlights:
Automotive climate control systems comprise of multiple, smaller systems that work in tandem to maintain the comfort of the cabin environment. Not only is the initial cost of installation of such systems high, but also, these complex systems require regular maintenance for improved seasonal operation and performance, which, otherwise pose hazards due to ineffective windshield defrosting and defogging.
The growth of the market can be attributed to factors like government initiatives and a rising demand for electric vehicles across the globe. The market growth of climate control system for commercial vehicles is expected to be at a compound rate of 9.04% during the period of 2019 to 2023. The study predicted that the global market will reach a valuation of USD 18,511.7 million by the end of the forecast period in 2023, thereby jumping from its previous valuation of USD 11,078.2 million in 2016.
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. 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 (2018-2023).
Report Coverage
Value, Market Share, Player Analysis, country level break down for each segment
Climate Control System for Commercial Vehicle Market 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%.
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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.
Europe is estimated to be a major growth pocket registering a CAGR of 8.86% during the forecast period. The regulatory initiatives undertaken by the UN Economic Commission for Europe (ECE) and the European Union (EU) are poised to pave the way for technological advancements in the product portfolios of the major players.
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Global Climate Control System for Commercial Vehicle Market Information Report by Component (Compressor, Condenser, Others), Vehicle Type (Truck, Bus, Ambulance, Others), Application, E-Commercial Vehicle Type, Sales Channel, Region - Forecast To 2023The global climate control system for commercial vehicle market was studied by the team of Market Research Future (MRFR).
The study predicted that the global market will reach a valuation of USD 18,511.7 million by the end of the forecast period in 2023, thereby jumping from its previous valuation of USD 11,078.2 million in 2016.The growth of the market can be attributed to factors like government initiatives and a rising demand for electric vehicles across the globe.
The market growth of climate control system for commercial vehicles is expected to be at a compound rate of 9.04% during the period of 2018 to 2023.Market segmentationGlobal climate control system for commercial vehicle market segment into the various key dynamics better understanding of the report.
The bus segment stood out as the second largest commercial vehicle segment with a market share of 25.2%By truck type application, the market includes regional, long haul comma and specialty applications.
The long-haul segment holds the maximum percentage of shares under its names and enjoyed a lion’s share of 44.9% of the global climate control system for commercial vehicle market back in 2017.
The regional segment, on the other hand, held 37.6% of the market share 2017 and held the second largest position in this market category.By electric commercial vehicle types, the market includes full electric vehicle and hybrid commercial vehicle.
Market Synopsis Market Research Future (MRFR) has revealed in its latest study that the 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 increasing concern with respect to carbon emission from vehicles has resulted in an inclination towards legislative enforcements regulating the efficiency of climate control systems.
The thermal management in vehicles is a crucial area of attention in the automobile industry, which is estimated to propel the global climate control system market 2020.Market Segmentation On the basis of commercial vehicle type, the market is divided into a cargo van, trailers, minivan, truck, ambulance, bus, and others.
The OEM segment was anticipated as the dominating vertical in 2017 implementing its authority over 68.5% of share in the market.On the basis of electric commercial vehicle type, the market has been divided into a fully electric vehicle and hybrid.
The sub-division of fully electric vehicle segment-voltage type is furthermore divided into 12V, 24V, 48V, 350V, and 650V.On the basis of truck type application, the market is classified into the long haul, specialty, and regional.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6328 Key Players Some of the distinguished players as per the MRFR report are Calsonic Kansei Corporation Mobile Climate Control, Red Dot Corporation, Sanden Holdings Corporation, Valeo S.A, Bergstrom Inc., Hanon Systems, Denso Corporation, Eberspächer, Webasto, Mahle GmbH, and Wabco.Regional Analysis On the basis of region, the market has been classified into Asia Pacific, Europe, North America, and the Rest of the World.
The Americas presently acquire the largest share of the market.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the climate control system market include Honeywell International Inc, Johnson Controls, Schneider Electric, Siemens, Carrier Global Corporation, Emerson Electric, Trane Technologies Plc, Lennox, Delta Controls, Distech Controls, KMC Controls.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Climate Control System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/climate-control-system-market/download-sampleMarket DynamicsThe growing trend of smart homes, the thriving construction sector, and the continuously growing automotive industry is fuelling demand for the climate control system.
The emergence of IoT-enabled climate control systems and the need to achieve energy efficiency in buildings are among the key factors boosting the market for the climate control system.
Installing a climate control system helps in cost-saving, resource conservation, predictive maintenance, comfort control, and healthy building performance, as a result, demand for climate control systems has increased.
Moreover, an increase in the use of eco-friendly refrigerants and stringent emission norms has brought some innovations and has strengthened the growth of the climate control system market.
Global Automotive Climate Control System Market Research Report: Information By Technology (Automatic, and Manual), Vehicle Type (Passenger Vehicle, and Commercial Vehicle), and Regions (North America, Europe, Asia Pacific, and RoW) – Forecast Till 2023Market OverviewThe automotive climate control system, as the name suggests, is the climate control system in automobiles in various conditions.
The automotive industry is growing at booming speeds globally and will maintain its pace, which has directly boosted the demands for climate control systems.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/4163As the spending capacities of people are increasing, the demands for costly vehicles with advanced features increase, which is boosting the market and going to rise as time passes.
The companies are regularly working towards developing these systems for better efficiency and less environmental hazards, which has attracted hefty investments in research development programs and is among the major factors boosting this market.
These systems work efficiently in all climatic conditions, increasing the demand from the coldest to hottest regions.Apart from the uses and features involved, the global automotive climate control system market faces serious challenges from failure, high maintenance costs, and rigid regulations against the emissions, which has somehow degraded the growth of this market.
This report will shed light on the competition, opportunities, drivers restraints, and other factors affecting the local and global automotive climate control system market.
The global market is expected to register nearly a 04 % annual growth rate during the survey.Key PlayersValeo S.A. (France), Hanon system (South Korea), Sanden Corporation (Japan), Denso Corporation (Japan), and Eberspächer Group (Germany) are some of the major participants of the global automotive climate control system market expected to play crucial roles in the share analysis.
