Automatic environmental control market comprises of sales of automatic environmental control devices as well as related services. This market comprises establishments primarily engaged in manufacturing automatic controls & regulators for applications. Automatic environmental control devices include air conditioning & refrigeration, airflow controllers, heating and cooling system controls, and heating regulators.
Automotive environmental control system refers to an integrated heating, ventilation and air conditioning (HVAC) system, which is used for maintaining the internal temperature of an automobile. It consists of an evaporator to boil the refrigerant & absorbing the heat, a compressor circulating the refrigerant or compressing the vapors, and a condenser is used to reduce the temperature of the ambient air & liquefy the refrigerant. Automotive environmental control system can be operated automatically or manually for maintaining a comfortable temperature inside the cabin & deliver the thermal comfort through adequate ventilation and provide most comfort to the passengers. As a result, the climate control system is widely used in passenger cars and light, medium and heavy commercial vehicles.
According to study, “Automatic Environmental Control Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global automatic environmental control market are United Technologies Corporation, Honeywell International Inc., Johnson Controls, Inc., Schneider Electric, and Ingersoll Rand. Leading companies are involved in several growth & expansion strategies to gain the competitive advantage. Industry participants also follow the value chain integration with business operations in various stages of the value chain.
Based on type, automatic environmental control market is segmented as refrigeration equipment, heating equipment and air conditioning equipment. Based on vehicle type, market is segmented as Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV) and passenger cars. In addition, based on distribution channel, market is segmented as Original Equipment Manufacturer (OEMs) and aftermarket.
The automatic environmental control market is driven by rise in demand of electric vehicle worldwide, followed by growth in automotive industry and change in consumer preference. However, alienating geographies and capital intensive market may impact the market. Moreover, growth in shift towards automation is major opportunity for market. Furthermore, smart thermostat is a key trend for market. Smart thermostat uses smart technology that can be operated using laptops, mobile phones, smart speakers or other computers connected to the internet that allows arrangement preferred temperature settings, and they can also be integrated into residence automation systems.
Based on geography, the Asian-Pacific region holds major share in global automatic environmental control market owing to rapid industrialization and increase in population in the region. The European and North-American regions are anticipated to witness higher growth rate due to aggressive expansion of manufacturing sector over the forecast period. It is predicted that future of global market will be bright as a result of growth in demand for automotive climate control during the forecast period. The global automatic environmental control market was valued at US $95.39 billion in 2019 and it is likely to grow at a compound annual growth rate (CAGR) of 8.94% and reach US $134.33 billion by 2023.
For More Information, Click on the Link Below:-
Ankur Gupta, Head Marketing & Communications