Global Automotive HVAC Market

Posted by pallavi on August 30th, 2019

Global Automotive HVAC Market is expected to reach 37.7 Billion by 2026 from 17.7 Billion in 2017 at CAGR of 8.76%. Global Automotive HVAC Market The Automotive HVAC market is segmented based on technology, application, and geography. By technology segment, the market is segmented into manual and automatic. By applications, the market is segmented as heavy commercial vehicles (HCVs), light commercial vehicles (LCVs) and passenger cars. Passenger cars automotive HVAC dominates the market in 2017. This is mainly driven by rising passenger vehicle demand coupled with increasing luxury vehicle sales on an international scale. Acceptance of electric or hybrid vehicle is also anticipated to drive the segment over the forecast period. Refining road infrastructure and growing personnel mobility need considering growing urbanization are also among key growth drivers. The growing throwaway income levels and rising vehicle production is expected to drive the automotive HVAC market size in the forecast period. Customers demand more ease, luxury, and features in the standard car due to the substantial quantity of time spent on personal vehicles. This is also expected to drive the HVAC system demand. Automotive HVAC market share growth is extremely reliant on vehicle sales. R&D is expected to improve players’ product contribution and increase technological capabilities such as reduction in size and weight. 

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