Portland, OR -- (SBWIRE) -- 03/14/2018 -- Increasing vehicle production and demand for optimum comfort during driving are some of the factors driving growth of the market. However, concerns over mechanical failure and high maintenance cost have hindered the growth of the market to a greater extent. Technological advancements are creating greater opportunities in the market.

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The global air conditioning market is segmented based on technology, component, vehicle type, and geography. The technology segment includes manual/semi-automatic and automatic. The component segment covered in the report focus on compressor, evaporator, drier/receiver, and condenser. Based on vehicle type, the market is categorized into PC, LCV, HCV, off-highway, and locomotive. Regions, such as North America, Asia-Pacific, Europe, and Rest of the World (RoW) would experience tremendous growth.

The leading manufacturers operating in the market are Denso Corporation, Eberspaecher Holding GmbH & Co. KG, MAHLE GmBH, Hanon Systems, Calsonic Kansei Corporation, Keihin Corporation, Sanden Holdings Corporation, Mitsubishi Heavy Industries Ltd., Valeo SA, and Subros Limited. Various strategies adopted by leading manufacturers are partnerships, mergers & acquisitions, joint ventures, and others to sustain in the market.

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