Automotive HVAC Market Global Size, Share, Trends Forecast To 2023
Posted by abhi0210 on June 11th, 2018
Automotive HVAC Market Analysis 2018 to 2023 is latest Global Automotive HVAC Industry Research Report added by “Market Research Future”, provides information on Automotive HVAC Market Size, Share, Growth, Trends, And Regional Analysis with Forecast To 2023. Automotive HVAC Market Segmented by Technology (Manual and Automatic), by Component (Evaporator, Compressor, Condenser, Receiver/Drier and Expansion Device), by Vehicle Type (Passenger Cars, LCV, and HCV) and regions.
Global Automotive HVAC Market Highlights:
Automotive HVAC Market is growing at growth rate of 9% by 2023. This growth is boosted by factors such as increasing demand for thermal systems and automatic climate control features in the automobiles. Secondly, people travel in their personal automobiles for long distances in the urban sector, and hence the need for HVAC is higher. Thirdly, due to the global warming and climate change, global temperatures are rising, which leads to greater demand for ambient temperatures inside the automobile.
Automotive HVAC Market Companies Analyzed in report are:
Sensata Technologies (U.S.), The Keihin Corporation (Japan), Calsonic Kansei Corporation (Japan), Sanden Corporation (Japan), Valeo (France) and Denso Corporation (Japan). Hanon Systems (South Korea), MAHLE GmbH (Germany), Johnson Electric Holdings Limited (Hong Kong) and Japan Climate Systems Corporation (Japan) are among the other players in this market.
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The Automotive HVAC Market appears to be competitive with the presence of several large and small players operating in the Market. These Key players compete based upon pricing, quality, Technology and reputation. Automotive HVAC Market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the Market strive to respond to the growing demand for HVAC in automotive applications. They ensure to deliver the best quality products based on innovative technologies, and best practices. Additionally, the awareness regarding the use of environment friendly refrigerants and automotive coolants in HVAC system leads to the demand for advanced and technically evolved HVAC systems, thus increasing their sales.
North America and European region dominates the global automotive Heating, Ventilation & Air Conditioning (HVAC) market. North America region is mainly backed by the U.S. having strong penetration of HVAC systems in automotive industry. The original equipment manufacturers in the region are focusing on efforts for improvement of the production quality for delivering quality product.
The Asia-Pacific region is expected to be the fastest growing region for the automotive HVAC owing to the presence of the developing countries such as India and China where the automotive industry is growing at a faster pace. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. Additionally, supportive government regulation also boost the growth of the market.4
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