Global Air Conditioner Market for Transportation Sector 2017-2021
About Air Conditioner for Transportation Sector
Air conditioners are used in the transportation sector primarily to cool down the air inside the vehicle and provide comfort to passengers. The main components of an air conditioner are compressors, condensers, evaporators, and thermal expansion valves. It is applicable in the automotive, railways, and aerospace sector.
Technavio’s analysts forecast the global air conditioner market for transportation sector to grow at a CAGR of 4.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global air conditioner market for transportation sector for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Air Conditioner Market for Transportation Sector 2017-2021
Technavio recognizes the following companies as the key players in the global air conditioner market for transportation sector: CALSONIC KANSEI, DENSO, Hanon Systems, Keihin, and Valeo.
Other Prominent Vendors in the market are: Bergstrom Climate Control Systems, Delphi Automotive, Gentherm, Johnson Electric, MAHLE, Samvardhana Motherson Group, SANDEN HOLDINGS, Sensata Technologies, Shanghai Velle Automobile Air Conditioner, Subros, and Xiezhong International Holdings.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is innovation in air conditioners for transportation sector. Manufacturers are constantly involved in developing technologically advanced products to meet the expectations of consumers and sustain in the competitive market. Companies, such as Valeo, Hanon Systems, and others, have developed advanced a/c units for transport vehicles.”
According to the report, one driver in the market is growth in railway sector. The adoption of air conditioners in rail transport is a key driver for the growth of the global air conditioner market for transportation sector. Since most developed regions, such as the Americas and Europe, have metros and railways that incorporate a/c systems in their network, the demand for air conditioners is expected to increase. In addition, countries such as India and China are planning to invest to develop their railway infrastructure and improve the connectivity and provide ease to passengers.
Further, the report states that one challenge in the market is fluctuations in raw material prices. The main raw materials used for manufacturing air conditioners are aluminum and steel. The cost of raw materials depends on economic conditions and inflationary pressures. Due to the volatility in raw material prices, the productivity of manufacturers is affected with respect to the number of units required to be produced. When the price increases, vendors bear the excess cost of ownership. However, due to the presence of many vendors in the market, manufacturers cannot afford to pass on the price to consumers, thereby affecting their profit margins.
CALSONIC KANSEI, DENSO, Hanon Systems, Keihin, Valeo, Bergstrom Climate Control Systems, Delphi Automotive, Gentherm, Johnson Electric, MAHLE, Samvardhana Motherson Group, SANDEN HOLDINGS, Sensata Technologies, Shanghai Velle Automobile Air Conditioner, Subros, and Xiezhong International Holdings.
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