What’s driving the Automotive HVAC Market gowth? Brose Group, Delphi, Denso, Johnson Electric, MAHLE, Sensata Technologies, Valeo
Manually adjusted systems are expected to lose share to the automatic car HVAC market segment. The industry has witnessed a shift towards these systems, and product development includes fully automatic dual zone solutions for front and rear passengers as well.
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HVAC systems have become a standard feature across passenger cars; growing automotive industry is estimated to be a major growth driver. Increase in private vehicle demand and average time spent in cars is anticipated to boost automotive HVAC market size over the forecast period. According to the United States Department of Transportation (DoT), average daily distance traveled on urban highways in January 2015 showed a rise of 4.3% on yearly basis.
Automotive HVAC market size forecast pegs USD 23.19 billion revenue by 2023; as per a new research report by Global Market Insights, Inc. The ecosystem comprises component suppliers, system suppliers, and automakers.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Air International Thermal Systems
2. Brose Group
3. Calsonic Kansei Corporation
5. Delstar Engineering
6. Denso Corporation
7. Engineered Plastic Components
8. Hanon Systems
9. Japan Climate Systems Corporation
10. Johnson Electric
12. Sanden International
13. Sensata Technologies
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Downsizing the system is an area of considerable R&D among major industry players of. Lower fuel consumption and increase level of comfort and ease of operation will drive automatic segment demand through the forecast timeframe.
EV and HEV manufacturers have adopted small lightweight compressor technology in order to reduce power consumption.
Steady consumer demand for high comfort level, increasing functionality in vehicles, as well as efforts to enable product differentiation will be responsible for Asia Pacific automotive HVAC market growth.
The presence of energy-efficient solutions equipped with technology to maximize vehicle performance will assist automotive HVAC market growth from 2016 to 2023.
Incorrect adjustment of the HVAC controls results in decreased fuel efficiency, which may restrain growth. Low demand across the LCV and HCV segments as compared to passenger cars may limit industry potential.
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Localized/spot systems provide energy saving and better customer experience; however, cost may act as a challenge to adoption. Automotive HVAC market share is consolidated in nature; key companies include Denso, Hanon Systems, Mahle Group, and Valeo.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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