India Passenger Car Air Conditioners Market to Surpass $ 1 Billion by 2023
Increasing
automobile production in India along with rising local manufacturing due to
Make in India initiative to propel growth in India passenger car air conditioners
market through 2023
According to TechSci
Research report “India
Passenger Car Air Conditioners Market By Vehicle Type, By Technology, By
Compressor Type, Competition Forecast & Opportunities, 2023’’,
India passenger car air conditioners market is projected to cross $ 1 billion
mark by 2023 on account of growing investments in automotive and auto-ancillaries sector and easy
availability of financing options for the purchase of passenger cars. Moreover,
development
of Secondary Loop Mobile Air Conditioning System for reduction of air pollution
coupled with emergence of India as an automotive hub in Asia-Pacific region is further propelling growth in India passenger car air conditioners market. Additionally, rising domestic manufacturing in India on
account of favorable government policies and initiatives such as ‘Make in
India’ are expected to positively influence
India passenger car air conditioners market in the coming years. Subros
Limited, Hanon Automotive Systems India Private Limited, MAHLE Behr India Pvt.
Ltd., Sanden Vikas (India) Ltd., etc., are some of the leading players
operating in India passenger car air conditioners market.
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"India
Passenger Car Air Conditioners Market"
https://www.techsciresearch.com/report/india-passenger-car-air-conditioners-market/3412.html
Among
vehicle types, India passenger car air conditioner market is dominated by hatchback segment,
followed by multi & sports utility vehicle (MUV), sedan and
compact utility vehicle (CUV) segments. However, MUV and CUV segments are
likely to show strong growth in the coming years due to shifting consumer preference
towards premium cars instead of hatchbacks. In 2018, ‘Automatic’ segment accounted
for the largest technology share, in terms of value, in India
passenger car air conditioner market, followed by ‘Manual/Semi-automatic’
segment. A large demand for passenger car air conditioners emanates from Northern
and Southern India, which can be attributed to the presence of a large number
of manufacturing units in these regions.
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“‘Make in India’,
a flagship program of the Indian government, aims at making India a global
manufacturing hub. The main objective of this initiative is to increase the
contribution made by the manufacturing sector to the country’s GDP to 25% by
2025. The government is promoting establishment of National Automotive Testing
and R&D Infrastructure Project (NATRiP) centers to promote this initiative,
which would consequently fuel growth in India passenger car air conditioners
market. Moreover, global
car manufacturers are making huge investments in the states of Haryana and
Rajasthan in Northern India and Tamil Nadu in Southern India to cater to the
growing demand for passenger cars in the country which is further expected to positively influence the passenger
car air conditioners market in India in the
coming years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Passenger
Car Air Conditioners Market By Vehicle Type, By Technology, By Compressor
Type, Competition Forecast & Opportunities, 2023’’ has evaluated the future growth
potential of India passenger car air conditioners market and provides
statistics and information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India
passenger car air conditioners market.
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