India Automotive Air Conditioning & Refrigeration Market to Grow at 10% through 2021
Increasing
passenger and commercial vehicle fleet, favorable government policies, and
expanding food processing industry to drive India automotive air conditioning
& refrigeration market through 2021
According to TechSci Research report, “India
Automotive Air Conditioning & Refrigeration Market By Vehicle Type, By Tonnage Capacity, By
Application, Competition Forecast & Opportunities, 2011 - 2021”, the India automotive air conditioning
& refrigeration market is projected to register growth at a CAGR of 10%, during
2016 - 2021. The anticipated market growth can be attributed to increasing demand
for passenger cars and commercial vehicles in the country. In addition,
government focus has also shifted towards effectively managing transportation
of perishable goods, in
conjugation with rapidly growing demand for processed & frozen food, and changing
consumption habits of consumers. With cold chain market in India standing at $ 6.84
billion in 2015 and the country’s food processing market also growing at a
robust pace, during the same year, huge growth in sales of automotive air conditioning and automotive
refrigeration units is anticipated during the forecast period.
Browse 13 market data
Tables and 34 Figures spread through 105 Pages and an in-depth TOC on "India Automotive
Air Conditioning and Refrigeration Market "
https://www.techsciresearch.com/report/india-automotive-air-conditioning-refrigeration-market-by-vehicle-type-pc-lcv-bus-hcv-by-tonnage-capacity-18k-btu-18k-40k-btu-40k-btu-by-application-dairy-products-meat-fish-etc-competition-forecast-opportunities/893.html
Booming food service & food processing industry, coupled with increasing
consumption of ready to eat/cook products, dairy products and frozen foods by
consumers, is anticipated to propel demand for automotive air conditioning
& refrigeration in India during the forecast period. Subros, Visteon
Automotive Systems, Sanden Vikas, and Trans ACNR are few of the leading players
operating in India automotive air conditioning & refrigeration market in 2015. Major players offering automotive refrigeration
solutions include Carrier Transicold and Thermoking, which are majorly engaged
in the business of supplying truck refrigerators to truck manufacturers in
India.
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“Rising
medium & heavy commercial vehicle production in India, advancement in technology used in medium and heavy
commercial vehicle air conditioners, rising demand for temperature controlled transportation
solutions i.e. hybrid reefer trucks, etc., is expected to propel growth in
market for automotive air conditioning and refrigeration in India, during
2016-2021. In addition, Government of India is taking various initiatives to
increase the fleet of AC buses so as to provide comfortable and efficient means
of transportation to a larger number of people across the country. This
is expected to fuel automotive air conditioners and refrigerator sales across India
in the coming years, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Automotive
Air Conditioning & Refrigeration Market By Vehicle Type, By Tonnage
Capacity, By Application, Competition Forecast & Opportunities, 2011 - 2021” has
evaluated the future growth potential of automotive air conditioning &
refrigeration market in India and provides statistics and information on market
structure, size, share and future growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges and opportunities present in India
automotive air conditioning & refrigeration market.
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