Global Automotive HVAC Market, By Technology (Manual, Automatic), Component (Evaporator, Compressor, Condenser, Receiver/Drier, Expansion Device), Vehicle Type (Passenger Cars, Commercial Vehicles), Geography (North America, South America, Europe, Asia Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Automotive HVAC Market
Due to the rising demand for passenger vehicles all over the world, major car manufacturing companies are focused on increasing the comfort level of these vehicles to increase their sales even higher. This trend will drive the market to an estimated value of USD 28.85 billion by 2025 raising the initial estimated value of USD 14.16 billion in 2017, registering a CAGR of 9.1% in the forecast period of 2018-2025.
Market Definition: Global Automotive HVAC Market
The concept behind this technology is to maintain the optimum temperature and conditions inside the car for optimal comfort level of the passengers inside. The full-form of HVAC is Heating, Ventilating, and Air Conditioning. It involves elimination of unwanted elements present in the environment of the car. All three of these factors work in co-ordination with each other to reach the comfortable cabin environment.
Market Drivers:
- Innovation of technologies in the vehicle industry, with the introduction of automatic climate control, that controls the temperature of the car is driving the market growth
- Working under the specified guidelines given by the regulatory authorities has also helped to grow the market due to its effects on the reduction of global warming
Market Restraints:
- Initial installation of HVAC systems in vehicles is very expensive and this is one of the major restraint for market growth
- The guidelines set forth by the authorities regarding the materials and chemicals to be used in HVAC systems is very stringent, which leaves little room for the market to grow and acts as a restraint
Segmentation: Global Automotive HVAC Market
- By Technology
- Manual
- Automatic
- By Component
- Evaporator
- Compressor
- Condenser
- Receiver/Drier
- Expansion Device
- By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- By Geography
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Turkey
- Belgium
- Netherlands
- Switzerland
- Rest of Europe
- Asia Pacific
- Japan
- China
- South Korea
- India
- Australia
- Singapore
- Thailand
- Malaysia
- Indonesia
- Philippines
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Egypt
- Saudi Arabia
- United Arab Emirates
- Israel
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Automotive HVAC Market
The Global Automotive HVAC Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Automotive HVAC market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Automotive HVAC Market
Few of the major competitors currently working in the Global Automotive HVAC Market are Keihin Corporation, Sensata Technologies Inc., SANDEN HOLDINGS CORPORATION, Calsonic Kansei Corporation, Valeo, DENSO CORPORATION, Johnson Electric Holdings Limited, Hanon Systems, JAPAN CLIMATE SYSTEMS CORPORATION, MAHLE GmbH, MITSUBISHI HEAVY INDUSTRIES LTD., OMEGA Environmental Technologies, Trans/Air Manufacturing Corp., Kongsberg Automotive, Imasen Electric Industrial Co. Ltd., Eberspächer, Air International Thermal Systems, Delphi Technologies, Brose Fahrzeugteile GmbH & Co., TOYOTA INDUSTRIES CORPORATION, Xiezhong International Holdings Limited, and GENTHERM.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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