Automotive Air Conditioners Market Is Likely to Experience a Tremendous Growth in Near Future | Market Opportunities and Forecast, 2018-2023 | Major Companies: LG Electronics, Mitsubishi, Panasonic, Samsung, Voltas, and Toshiba

According to OMR analysis, the global air conditioning market is expected to grow significantly in the automotive industry during the forecast period 2018-2023. The major factors contributing to the adoption of air conditioners in the automotive industry are growing adoption of cars and other vehicles which increase the demand for air conditioning systems. As per the International Organization of Motor Vehicle Manufacturers, global automobile sales have been increased to 96.8 million in 2017 as compared to 93.8 million in 2016 with a growth rate of 3.2%. The industry has shown a growth of 4.6% in 2016. Additionally, the growing population and urbanization have been also propelling the growth of the air conditioning market in the automotive industry.

   GLOBAL AUTOMOTIVE AIR CONDITIONING MARKET FORECAST, 2017-2023 ($ MILLION)

Source: OMR Analysis

China automobile sector has shown a growth of 13.8% in 2016 in all vehicle sales. Similarly, India has shown the growth of about 7% in 2016 as compared to 2015. A country such as Iran has shown a growth rate of 18.65% in 2017 with sales of 1.71 million vehicles. Additionally, in terms of automotive sales, the Asia Pacific region has been expected to be the major consumer. China is the largest consumer of an automobile with a share of 29% globally. Additionally, most of the American and European automotive companies such as Audi, BMW, Ford, and GMC have set-up their manufacturing facilities in China and India due to affordable infrastructure at lower prices. The growth of the air conditioning market in automotive applications is majorly driven by the significant contribution of economies such as China and India.

Full report of Global Air Conditioning Market is available at Global Air Conditioning Market

Orion Market Research report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, regulations, market determinants, key company analysis, strategic analysis, market insights, company profiling, market segmentation, and geographical analysis.

Major Segments:

Market Applications

Major applications/end-user industry are residential, commercial, industrial, healthcare, institution, automotive and others.

Market Types

The study is segmented by following air conditioners Type include splits air condition, rooftop, indoor packaged, chillers, refrigerant type, variable refrigerant flow (VRF) and air handling unit & fan coil unit (AHU/FCU).

Region Covered

North America (the United States and Canada)

Europe (United Kingdom, Germany, France, Spain, and Italy)

Asia-Pacific (China, India, South Korea, and Japan)

Rest of the Word (the Middle East & Africa and Latin America)

For related reports please visit  Electrical & Electronics

 

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