Global Automotive HVAC Market to Register 7.5% Growth During 2018-2027 – KSU
Automotive HVAC Market Records 7.5% Growth in 2018-2027 – Fact.MR . Reveals
The advancement of air conditioning systems in passenger cars, light commercial vehicles and heavy commercial vehicles is one of the notable developments of the 20th century. It is estimated that more than 85% of new passenger cars sold around the world currently have air conditioning systems, and that number is expected to increase by 2027. Growing vehicle sales and the tendency towards safety and luxury are the main factors those are the driving force behind the global automotive HVAC market.
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Heating, ventilation and air conditioning (HVAC) in a vehicle is used to control the interior temperature of the vehicle cabin. The HVAC system is mainly composed of three subsystems, namely heating, cooling and air conditioning, which work together to bring decontaminated air to the cabin of the vehicle, providing drivers and passengers with thermal coziness. HVAC system regulates the air temperature, controls the moisture content in the air and removes unnecessary humidity from the circulating air. Established companies, such as Audi, Mercedes, Ford and BMW, focus primarily on custom and consumer-friendly HVAC systems. For example, the BMW 6, 7, 8 & 9 Series supports automatic air conditioning, including air distribution for driver and passengers, fog sensor and automatic climate control system.
This report evaluates trends driving the growth of each segment on a global level and offers possible takeaways that could be of significant benefit to Automotive HVAC manufacturers looking to enter the market. The key regions assessed in this report are North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan (APEJ), and the Middle East and Africa (MEA).
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The sections, by Vehicle Type, by Component, and by Technology in the Automotive HVAC Market evaluate the current scenario and the growth prospects of the Regional Automotive HVAC Market for 2018-2027. The APEJ Automotive HVAC market is estimated to dominate the automotive HVAC market in value due to growing vehicle sales, accounting for maximum revenue share of the market by the end of 2018. Europe and North America Automotive HVAC markets will is expected to account for more than 40% combined revenue share of the global automotive HVAC market by the end of 2027. Emerging markets are estimated to show the MEA automotive HVAC market a significant CAGR of more than 8.0% during the forecast period, followed by Japan at a CAGR of approximately 7.0%.
In order to provide in-depth understanding of the demand pattern for the Automotive HVAC market, the market has been segmented by Vehicle Type. It includes passenger cars, light commercial vehicles (LCV) and heavy commercial vehicles (HCV). The passenger car segment is expected to dominate the automotive HVAC market over the forecast period in terms of value, which accounted for more than 40% value share in 2027.
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The section – Automotive HVAC Market Analysis, by Components extensively analyzes the market by components used in Automotive HVAC. The market is segmented into evaporator, compressor, condenser, receiver/dryer and expansion device. The compressor segment in an automotive HVAC market accounted for the highest market share of over 35% in 2017.
The section – Automotive HVAC Market Analysis, by Technology, extensively analyzes the market based on various technology through which the Automotive HVAC functions. The market is segmented into manual and automatic. The automatic segment accounted for the highest market share in 2017. However, the manual segment is expected to decline over the forecast period due to the increase in the use of automatic HVAC systems in the developing economies.
Also, the increasing demand for Automotive HVAC in the APEJ region is driving the prominent manufacturers to enter the APEJ market advantageously with the aim of seizing the opportunities in the region. The automotive HVAC market in the North America and Europe region is currently witnessing stagnant growth, which is why the companies are targeting emerging market markets to increase their sales revenue.
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Global Automotive HVAC Market: Competitive Dashboard
Fact.MR has profiled some of the most prominent companies operating 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 major market players in the Automotive HVAC market are focusing on product innovation and collaboration. Vendors in the automotive HVAC market focus on developing technologically advanced and innovative solutions that can meet changing customer demands. Recently, in 2018, Mercedes Benz presented its 2019 A-Class with voice-activated HVAC. The new A-Class hatchback will arrive in Europe in 2019 and eventually reach the North American market, but in a sedan variant with a rear trunk.
Read more trending and similar reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/07/29/1892956/0/en/Increasing-Manufacturer-Focus-towards-Innovative-Performance-Spurring-Sales-of-Gravators-reports- Fact-MR-study.html
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