Automotive air conditioning is the process of removing heat from the interior of the vehicle to improve the comfort of occupants. With increase in demand for technologies to reduce carbon dioxide emissions and preserve the environment, companies are now developing more efficient and environment-friendly air conditioning systems. Manufacturers have targeted to reduce the compressor’s power consumption compared to a conventional air conditioning system. Air conditioning primarily uses integrated Heating, Ventilation, and Air Conditioning (HVAC) systems in vehicles that are expected to increase over the forecast period.
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COVID-19 scenario analysis:
- The air conditioning market has been tremendously affected by the fake allegations of the coronavirus spread with the use of air conditioners, which has led to defame the entire market.
- Manufacturing companies are trying to spread awareness about the fake allegations over the internet but the impact of viruses has led consumers to believe in fake news and disinformation in these conditions.
- Production has already been shut due to the lockdown but the pandemic’s effect is expected to eventually hamper the market in the coming days.
- The global demand has witnessed a major drop in the demand graph, and is projected to take a long time to revive.
- Many developing economies are estimated to enter the recession period, which is projected to witness a record low demand for the product.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in demand for passenger and commercial vehicles, change in consumer preferences, and government initiatives to develop advanced air conditioning systems are estimated to fuel the market. However, the automotive air conditioner systems increase the risk of certain health problems, such as skin dryness, and aggravation of respiratory problems, thereby hampering the growth of the market. Furthermore, automotive air conditioner system consumes more fuel for its operation. Innovations for the global automotive air conditioner system market involve small size and lightweight systems, which can generate lucrative opportunities for the market.
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The global automotive air conditioning market trends are as follows:
The surge in demand for passenger and commercial vehicles:
Increase in population across developing countries and urbanization has played a major role to increase the demand for vehicles. In addition, production has increased in most developing countries due to the availability of low-cost labor. With the increase in demand and availability of options for customers, comfort and luxury became trending in the market. Therefore, higher sales of vehicles lead to increase in installation of air conditioning in vehicles, which is estimated to drive the growth of the market.
Government initiatives to develop advanced air conditioning systems:
Rise in government policies about safety & security of passengers as well as of the environment has been increasing the demand for air conditioners in the automotive sector. Governments have urged automakers to develop advanced air conditioning systems, which can reduce the emission of carbon dioxide and maintain the safety of consumers. Therefore, these factors are estimated to drive the global automotive air conditioning market over the forecast period.
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