Automotive HVAC System Market - Growth & Industry Revenue By Top Key Players Sensata Technologies, Inc., Calsonic Kansei Corporation, Denso Corporation Hanon Systems, Johnson Electric Holdings Ltd, Sanden Holdings Corporation, Valeo, Japan Climate Systems

Vehicle manufacturers provide HVAC systems that allow individuals to control cabin temperatures as per their comfort. Automakers aim at adopting environment-friendly refrigerants such as R1234yf, in their HVAC systems, as an effort to provide fuel efficiency with improved performance and with mitigating hazardous risks.

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Automotive HVAC System Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $22.8 billion, registering a CAGR of 8.9% during the forecast period 2016-2022. Asia-Pacific is expected to dominate the market throughout the analysis period, growing at the highest CAGR of 10.2% during the forecast period. Factors such as automatic climate control feature, adoption of eco-friendly refrigerant and use of geothermal heat pumps have resulted in the overall increase in demand for automotive HVAC systems. However, high maintenance cost and low fuel economy are likely to affect the market growth.

On the basis of vehicle type, passenger cars generated higher revenue in comparison to commercial vehicles, accounting for over 67% of the market revenue in 2015. Automakers tend to provide passenger cars and commercial vehicles with faster cooling and fuel efficient HVAC systems. As per European Union regulations, all the vehicles in Europe should have HVAC systems with non-polluting refrigerants, with a GWP (global warming potential) lesser than 150, effective from January 2017.

Automotive HVAC systems can be operated manually or automatically. Automatic HVAC system dominated the market in 2015, contributing around 59% of the total revenue. Automatic climate control system inside the vehicle cabin is to be set for once and the HVAC system adjusts the temperature automatically depending on the outside temperature of the vehicle. Such factors would drive the adoption of automatic HVAC system, particularly in passenger cars.

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Based on geography, Asia-Pacific was the highest revenue-generating region, accounting for over 46% share in 2015, in terms of revenue, owing to high vehicle production in China, Japan, South Korea, and India. Asia-Pacific is estimated to dominate the market witnessing a CAGR of 10.2% during the forecast period, owing to increasing adoption of eco-friendly refrigerants and large-scale production of commercial and passenger vehicles.

Leading players in the automotive HVAC system market have adopted strategies such as collaborations, product launches, and acquisitions to expand their market presence. Key players include Sensata Technologies, Inc., Calsonic Kansei Corporation, Denso Corporation Hanon Systems, Johnson Electric Holdings Ltd, Sanden Holdings Corporation, Valeo, Japan Climate Systems Corporation, Keihin Corporation and Mahle GmbH.

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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.

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.

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