Climate Control System for Commercial Vehicle Market To rise CAGR at 9.04% And reach USD 18,511.7 Mn by 2023. According to report Global Climate Control System for Commercial Vehicle, Size, Share, Technologies, Growth
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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, Global Region Forecast Till 2023. 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.
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:
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.
A steep rise in the demand for electric cars has been projected which is anticipated to have a positive impact on the proliferation of the climate control system for commercial vehicle market over the next couple of years. China is making headway in the electric cars industry and has been recorded to have sold 507,000 electric vehicles and plug-in hybrid electric vehicles in 2016, which is around 53% higher than that in 2015. The U.S. and European nations are likely to follow the trend. The exponential demand for electric vehicles is expected to complement the market for automotive climate control systems directly.
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%
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.
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.
Table Of Content
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
Continued…
List of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
Continued…
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