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Global automotive thermal systems market: 6% CAGR forecast between 2012-16
Global Automotive Thermal Systems Market 2012-2016 - a new market research report on 2014-04-17 06:59:01
The Global Automotive Thermal Systems market is to grow at a CAGR of 6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for automotive heating, ventilation, and air conditioning systems. The Global Automotive Thermal Systems market has also been witnessing an increasing demand for lightweight automotive thermal systems. However, the increase in cost-cutting measures taken by various automobile manufacturers could pose a challenge to the growth of this market.

The increasing use of natural refrigerants is another major trends being witnessed in the Global Automotive Thermal Systems market. Over the past few years, the demand for eco-friendly refrigerants has increased as a result of the increasing awareness of the harmful effects of traditional refrigerants on the environment. Traditional R-134A refrigerant has an average atmospheric life of 13 years. On the other hand, the next-generation eco-friendly refrigerant HFO-1234yf has an average atmospheric life of 11 days, making it less harmful for the environment. Increasing pressure from governments across the globe is another factor that contributes to the demand for eco-friendly refrigerants.

One of the major drivers in this market is the increasing demand for automotive HVAC systems. The demand for automotive HVAC systems has a direct and immediate positive effect on the growth of the Global Automotive Thermal Systems market.

One of the main challenges in this market is the increasing adoption of cost-cutting measures by automobile manufacturers to offset the negative impact of the increased wage rates of laborers.

The key vendors dominating this space include Behr GmbH & Co. KG, Denso Corp., Valeo SA, and Visteon Corp.

The other vendors mentioned are Calsonic Kansei Corp., Delphi Automotive plc, Keihin Corp., Modine Manufacturing Co., and Sanden Corp.

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