Press release
Automotive HVAC System Market is Expected to Reach $22.8 Billion By Top Leading Companies Sensata Technologies, Inc., Calsonic Kansei Corporation, Denso Corporation Hanon Systems, Johnson Electric Holdings Ltd, Sanden Holdings Corporation, Valeo, Japan Cl
Automotive HVAC Market
Automotive HVAC System Market is expected to garner $22.8 billion by 2022, registering a CAGR of 8.9% during the forecast period 2016-2022. Heating, ventilation, and air conditioning (HVAC) system in a vehicle is used for controlling the internal temperature of the vehicle cabin. It includes three subsystems, namely, heating, cooling, and air conditioning, that work together to provide purified air to the vehicle cabin, ensuring thermal comfort to drivers and passengers. It controls the air temperature, inspects the moisture content in the air, and eliminates excessive humidity from the circulating air. Well-established companies, such as Audi, Mercedes, and BMW, focus on customized and consumer-friendly HVAC systems. For instance, the BMW 6 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system.
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The automotive HVAC system market growth is driven by automatic climate control feature, increasing demand for thermal systems, rising safety concerns, and adoption of eco-friendly refrigerants. On the other hand, the use of polluting refrigerants is expected to hinder the adoption of this system. Use of environment-saving refrigerants and adoption of geothermal pumps are anticipated to foster the growth of the automotive HVAC system market.
The world automotive HVAC system market is segmented on the basis of technology, vehicle type, and geography. On the basis of technology, it is categorized into manual and automatic; whereas by vehicle type, it is categorized into passenger cars, and commercial vehicles, including light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). On the basis of geography, it is segmented into North America, Europe, Asia-Pacific, and LAMEA. However, Asia-Pacific, specifically countries including China, Japan, South Korea, and India, is expected to show a significant growth during the analysis period.
Key players operating in the world Automotive Hvac System Market are, Sensata Technologies Inc., Calsonic Kansei Corporation, Denso Corporation, Hanon Systems, Keihin Corporation, Johnson Electric Holdings Ltd, Sanden Holdings Corporation, Valeo, Japan Climate Systems Corporation and MAHLE GmbH.
Analyst Review:
Heating, ventilation, and air conditioning (HVAC) systems are installed in vehicles to maintain the internal climate of the vehicle cabins. The HVAC systems can be operated manually or automatically thereby allowing individuals to retain desired temperature inside the vehicle cabin. In addition, the system helps in defrosting and demisting the windows, even at low temperature, assuring thermal comfort to all the commuters. Asia-Pacific has shown a prominent growth in the automotive HVAC market owing to increased automobile manufacturing in the region. The increasing per capita income and growing preferences of customers towards automatic HVAC system would boost the market growth in APAC.
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The use of polluting refrigerants, such as R134a with a GWP of 1430, is prohibited in various regions and the adoption of CO2 refrigerants with GWP of one, such as R1234yF, contributes to the growth of the world automotive HVAC system market, ensuring improved fuel efficiency. Automatic climate control, increasing demand for thermal systems, safety concerns, and use of eco-friendly refrigerants are factors that strengthen the overall market. However, high maintenance cost and inefficient fuel economy are still restraining the market growth.
DENSO Corporation is one of the largest HVAC system suppliers, offering rotary type compressors to OEMs. Such type of compressors ensures additional cooling and heating performances within the vehicle. Companies, such as Sanden Holdings Corporation and Johnson Controls, offer HVAC system not only to cars but to trucks as well. The HVAC unit is designed in such a way that it is lightweight, thereby achieving high-end performance.
Key Benefits
• The report includes an in-depth analysis of the world automotive HVAC system market, including current trends, drivers, restraints, and growth opportunities.
• Porter’s Five Forces model illustrates the potency of buyers and sellers, which is expected to help market players to adopt effective strategies.
• Value chain analysis provides a clear understanding of the key intermediaries involved and their respective roles at every stage.
• Key market players are profiled to provide an understanding of the strategies adopted by them.
• Quantitative analysis of current market trends and future estimations for 2016-2022 are provided to indicate the financial competency.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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