Automotive HVAC Market to make Great Impact in Near Future by 2019-2027
Posted by Preet on September 27th, 2019
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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The sections, by vehicle type, by component, and by the technology in the automotive HVAC market evaluate the present scenario as well as growth prospects of the regional automotive HVAC market for 2018–2027. The APEJ Automotive HVAC market has been estimated to dominate the automotive HVAC market by value owing to the growing sales of vehicles, accounting for a maximum revenue share of the market by 2018 end. Europe and North America Automotive HVAC markets are expected to account for over 40% collaborative revenue share, of the global automotive HVAC market by 2027 end. Among the emerging markets, the MEA automotive HVAC market is estimated to exhibit a significant CAGR of more than 8.0% over the forecast period, followed by Japan with a CAGR of about 7.0%.
To provide in-depth insights into the pattern of demand for the automotive HVAC market, the market is segmented by vehicle type. It includes passenger cars, light commercial vehicle (LCV) and heavy commercial vehicles (HCV). Passenger cars segment is expected to dominate the automotive HVAC market over the forecast period, regarding value, which accounted for more than 40% value share in 2027.