Automotive HVAC Market to Register 7.5% Growth during 2018-2027

Rockville, USA, 2019-Apr-23 — /EPR Network/ — Fact.MR offers a 10-year forecast for the automotive HVAC between 2018 and 2027. In terms of value, the automotive HVAC market is expected to register a CAGR of 7.5% during the forecast period (2018–2027). The study offers key trends that are currently influencing the growth of the automotive HVAC market. This newly published and insightful report shed light on key dynamics, which are expected to transform future of the automotive HVAC market, in turn, creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of automotive HVAC.

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The progression of the air conditioning systems in passenger cars, light commercial vehicles and heavy commercial vehicles has been one of the noteworthy advances in the 20th century. It is assessed that more than 85% of the new passenger cars sold across the globe currently have an air-conditioning system, and the number is expected to increase by 2027. Growing sale of vehicles and inclination toward safety and luxury are the main factors which are driving the automotive HVAC market.

This report assesses trends that are driving the growth of each segment on the global level and offers potential takeaways that could prove substantially useful to Automotive HVAC manufacturers looking to enter the market. Main regions assessed in this report include North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA).

Global Automotive HVAC industry is currently witnessing complete change in manufacturing concept. There are numerous aspects accountable for the growth of the global automotive HVAC market. Primarily, there is a growing demand for thermal systems and automatic climate control features in all automobiles. Also, individuals travel in their personal automobiles for long distances in the urban sector, and henceforth the requirement for HVAC system is higher.

On the basis of vehicle type, the market can be categorized as passenger cars, light commercial vehicle (LCV) and heavy commercial vehicles (HCV). Passenger cars segment is expected to dominate the automotive HVAC market over the forecast period, regarding value, which accounted for more than 40% value share in 2027.

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On the basis of component, the market is segmented into Evaporator, Compressor, Condenser, Receiver/Drier, and Expansion Device.  The segment, compressor in an automotive HVAC market accounted for the highest market share of more than 35% in 2017.

On the basis of technology, the market is segmented into manual and automatic. Automatic segment accounted for the highest market share in 2017. However, the manual segment is expected to register a decline over the forecast period due to the increase in deployment of automatic HVAC system across the developing economies.

Fact.MR has profiled some of the most prominent company’s active in the global Automotive HVAC market such as Sensata Technologies., The Keihin Corporation, Calsonic Kansei Corporation, Sanden Corporation, Valeo, Denso Corporation, Hanon Systems, MAHLE GmbH, Johnson Electric Holdings Limited, and Japan Climate Systems Corporation. The key market players in the automotive HVAC market are focusing on product innovation and collaboration. Vendors in the automotive HVAC market are focusing on developing technological advanced and innovative solutions which can meet the changing customer requirements. Recently, in 2018, Mercedes Benz showcased its 2019 A-class with voice-controlled HVAC, The new A-Class hatchback will arrive in Europe by 2019 and eventually come to North American market too but in sedan variant with a trunk at the rear.

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