Consistent Expected Growth Of The Global Automotive HVAC Market Is Expected To Expand At A 7.5% CAGR Over The Forecast Period

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 global automotive HVAC market.

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Heating, ventilation, and air conditioning (HVAC) system in a vehicle is utilized to control the interior temperature of the vehicle cabin. HVAC system primarily consist of three subsystems, namely, heating, cooling, and air conditioning, which collaboratively work to offer decontaminated air to the vehicle cabin, guaranteeing thermal coziness to drivers and passengers. HVAC system controls the air temperature, scrutinizes the moisture content in the air, and eradicates unnecessary humidity from the circulating air. Well-established companies, such as Audi, Mercedes, Ford, and BMW, primarily focus on tailored and consumer-friendly HVAC systems. For instance, the BMW 6, 7, 8 & 9 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system.

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).

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Global Automotive HVAC Market: Competition Dashboard

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.

APEJ Region Critical in the Automotive HVAC Market

The APEJ region is estimated to account for more than 25% market share in the global automotive HVAC market in 2018, and this share is expected to grow by a massive rate, causing the APEJ market to grab more than 30% market share by the end of 2027. Growing sales of passenger car and rise in disposable income coupled with luxury aspects are amongst the major features subsidizing to the regional growth. Furthermore, the positive government initiatives to revive the automotive industry is anticipated to further propel the regional dominance over the forecasted period.

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Who are the key players in the Automotive HVAC Market?

Some of the key players in global market are The Keihin Corporation, Calsonic Kansei Corporation, Sanden Corporation, Valeo, Denso Corporation, Hanon Systems and many more.

Key Segments Covered in Automotive HVAC Report:

On the basis of vehicle type, the Automotive HVAC market can be segmented into:

  • Passenger Cars
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicles (HCV)

On the basis of technology, the Automotive HVAC market can be segmented into:

  • Manual
  • Automatic

On the basis of component, the Automotive HVAC market can be segmented into:

  • Evaporator
  • Compressor
  • Condenser
  • Receiver/Drier
  • Expansion Device

On the basis of region, the Automotive HVAC market can be segmented into:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)

Global Automotive HVAC Market: Key Insights

The automotive HVAC market has grown consistently at a CAGR of 7.5%, and the market has been expanding at a phenomenal pace. The vendors in the automotive HVAC market are focusing on product innovation to gain a competitive edge in the market by providing diversified product categories.  Top market players held for a marginable market share in 2017 and are anticipated to continue their dominance over he forecast period. However, the threat of new entrants in the automotive HVAC market is relatively low due to high manufacturing cost of the HVAC system and need of technological advance machinery for manufacturing purpose.

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