In-vehicle Coolers: Introduction

  • Technological advancements have increased vehicle efficiency. Several devices to offer more comfort and safety while driving have been introduced in the vehicle industry. For instance, most premium vehicles manufacturers, such as Audi, BMW, Volvo, etc., offer vehicles equipped with air-conditioning on both front and rare seats, ADAS system, and IoT system powered by artificial intelligence.
  • Cost of premium vehicles equipped with advanced technologies is high and import taxes are an unwanted add-on that further decreases the number of anticipated customers. In recent years, an increase in need for comfort by passenger or driver alike with rise in disposable income. This is driving the adoption of in-vehicle coolers.

Global In-vehicle Coolers Market: Dynamics

  • Governing bodies worldwide have imposed several restrictions on further development of IC engines directing the automotive industry toward the development of electric vehicles.  Electrical vehicles are emission-free and an alternative to IC engines. Such vehicles use high capacity batteries, which eliminate the need for installing an additional external battery. Hence, in order to reduce strain on vehicle batteries, there is need to develop efficient vehicle accessories, such as in-vehicle coolers.
  • In recent years, social and economic advancement worldwide has improved standard of living. High income has led to rise in disposable income, thus driving consumers toward luxurious options. Hence, several vehicle or travelling agencies are providing services such as vehicle tracking, Wi-Fi connectivity while travelling, and portable cooling cabinet such as in-vehicle coolers. Moreover, focus on customer satisfaction is also propelling the expansion of in-vehicle cooler market at a fast pace.

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Environmental Policies Restrict Use of Cooling Agents

  • Environmental policies and government regulations, in order to counter climate change, have imposed several regulations on use of cooling agents leading to restrictions on the use greenhouse gases, such as chlorofluorocarbons (CFC) and hydro-fluorocarbons (HFC), in the refrigeration industry. CFC, HFC, and other greenhouse gases react with the ozone layer in the stratosphere resulting in thinning of the ozone layer, which is hazardous for the ecosystem. Therefore, there is a need to develop a new cooling agent, which is harmless. Therefore, the need to develop advanced and efficient greenhouse emission-free coolants is slowing the market for in-vehicle coolers.

Passenger Vehicle Type Segment to Register High Growth

  • Rise in demand of vehicles can be attributed to the increasing amount of time spent by passengers in vehicles and growing interest of private vehicles over public transport. Private vehicles with HVAC systems are preferred by customers for long journey. HVAC vehicles offer larger space as compared to other passenger vehicles which is one of the attracting features of such vehicles. This space can be used for installing various vehicle accessories. Therefore, increase in demand for HVAC vehicles is propelling the expansion of the in-vehicle coolers market.

Asia Pacific to Dominate Global In-vehicle Coolers Market

  • According to OICA, in 2018, approximately 75% of buses and coaches, and 60% of passenger vehicles were manufactured in the Asia Pacific region, indicating the largest market for vehicle production. Vehicles, for long distances and comfort, need vehicle accessories. The growth of the market for in-vehicle coolers can be attributed to high production and demand for comfort in the region.
  • In-vehicle coolers market in Europe and North America is driven by growing luxury and comfort demands and high disposable income of people

Key Players in Global In-vehicle Coolers Market

  • Dometic Group AB (PUBL)
  • Kooltron
  • Cooluli
  • Igloo Coolers
  • PepsiCo
  • Knoxgear
  • Coleman Company, Inc
  • WAGAN Tech

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Global In-vehicle Coolers Market: Research Scope

Global In-vehicle Coolers Market, by Capacity

  • 20q
  • 26q
  • 30q
  • 37q
  • 50q
  • 63q
  • 82q

Global In-vehicle Coolers Market, by Technology

  •  Cooling
  • Cooling and Warming

Global In-vehicle Coolers Market, by Vehicle Type

  • Commercial
  • Passenger

Global In-vehicle Coolers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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