Learn details of the Rising Demand Of Fuel Efficient Vehicles By Consumers Require Aged Or Second Hand Vehicles
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The rise in vehicle production and need of consumer comfort supported the growth of automotive air-conditioning market. The advancement of technology in the A/C parts surge the demand for automatic air conditioning among the vehicles.
The air condition system of any vehicle becomes an integral part which sometimes influences the consumer’s purchasing behavior.
Automotive aftermarket industry and subsequently automotive a/c parts market is totally dependent on the changes in primary automotive industry.
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Low interest rates and low fuel prices is expect to surge growth of automotive industry and subsequently automotive a/c parts industry. Globally the average age of vehicles is increasing as consumers continue to use old or second hand vehicles.
Rising average age of vehicles is expected to increase the demand for automotive a/c parts. Rising demand for automotive aftermarket parts in emerging economies such as China, India among others is expected to increase demand for automotive a/c parts market.
Rising demand of fuel efficient vehicles by consumers require aged or second hand vehicles be fitted with advanced a/c parts which is anticipated to increase demand for automotive a/c parts. The major restrain faced by automotive a/c parts industry is increasingly strict government regulations due to environmental concerns which is expected to negatively affect automotive a/c parts market.
There is opportunity for growth of automotive a/c parts market in North Africa through rising investment in automotive sector. Renault and PSA Group is expected to set up manufacturing plants in Morocco to increase automotive spare parts production in the region.
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The market when segmented by technology are manual/ semi-automatic a/c, automatic a/c and others. By components the market is segmented into compressor, evaporator, drier/ receiver, condenser and others.
By type the market is segmented into OEM A/C parts and Aftermarket A/c parts. By vehicle type the market is segmented into passenger vehicles, light commercial vehicles (LCV), heavy commercial vehicles (HCV) and others.
Aftermarket A/C parts market is larger than OEM A/C parts market.
The market when segmented by geography into Asia-Pacific (APAC),Europe, North America Middle East & Africa (MEA) and Latin America. In North America the U.S. is the largest automotive a/c parts market followed by Canada and Mexico.
The growth of light vehicle sale is highest in Mexico followed by Canada and the U.S in H1 2016. Europe is another major automotive a/c market.
In Europe Germany is one of the largest automotive aftermarket and subsequently automotive a/c parts market. Germany has the largest concentration of OEM automotive manufactures throughout Europe so demand for automotive a/c parts is expected to rise in Germany.
Other major automotive a/c parts market in Europe are the U.K, France, Italyand Spain among others. Asia Pacific is another major automotive a/c parts market.
Rising demand of light vehicle sales in South Korea, China, India and Australia among others is expected to increase demand for automotive a/c parts market in Asia-Pacific. Slowing demand for light vehicle sales in Iran, South Africa among others is expected to slower the growth of automotive a/c market in Middle East & South Africa region.
Steep decline in sale of light vehicles in Brazil and Argentina is expected to shrink the automotive a/c market in Latin America region. Brazil is going through a recession and is expected to recover in 2017.
Some of the major firms in automotive a/c parts market are ACDelco (the U.S), Anchor Auto Parts (China), Calsonic Kansei Corporation (Japan), MAHLE GmBH (Germany), Keihin Corporation (Japan), Hanon Systems (South Korea), Denso Corporation (Japan), Delphi Automotive (the U.K), Sanden (Japan), OEX among others.
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