Press release
Automotive HVAC Market 2020 Competitive Insights- DENSO Corporation, Delphi Automotive PLC, MAHLE GmbH, Valeo SA
Automotive HVAC Market
This report aims to provide an unbiased and a comprehensive outlook of the Global market to the readers. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the Automotive HVAC
The automotive HVAC market is expected to register a CAGR of over 5.5%, during the forecast period, 2020 - 2025.
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The Global Automotive HVAC market report chiefly includes following manufacturers-
DENSO Corporation, Delphi Automotive PLC, MAHLE GmbH, Valeo SA, Hanon Systems, Mitsubishi Heavy Industries Ltd, Calsonic Kansei Corporation (Marelli Corporation), Sanden Holdings Corp, Keihin Corporation, Trans/Air Manufacturing Corp
Market Overview
Some of the major factors driving the growth of the market are higher adoption rate of automatic climate control feature, increase in the demand for thermal systems, and usage of more eco-friendly refrigerants are driving the markets growth.
Asia-Pacific region dominated the automotive HVAC market, followed by North America and Europe, and is expected to witness fast growth rate during the forecast period.
The future of HVAC is expected to witness significant developments, which include electronics and compressor designs. DuPont has developed a new technology in HVAC, which helps in eliminating the temperature-related problems in vehicles. The concern over refrigerant leakage into the atmosphere, which causes hazardous environmental effects, has laid roots for innovations to counter leakages.
The automotive HVAC market is mainly dominated by established players. Some of the major companies operating in the automotive HVAC market are Delphi Automotive, Denso Corporation, Mitsubishi, and Hanon Systems
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Increasing Production of Automobiles
China has the largest share for passenger cars, followed by the United States, Japan, Germany, South Korea, and India. Improving road infrastructure and rising disposable income of the middle-class group are driving the passenger car market in the developing countries. Competitive pricing of vehicles by auto manufacturers also has created a huge demand for passenger cars in developing countries.
This spike in the automotive industry resulted in growing automobile production and the subsequent demand for features such as the air-conditioner, automatic climate control, dual-zone temperature control, etc. Also, the industry is witnessing a consumer preference toward SUVs and MPVs, which generally have an extra AC setup or vents for the convenience of rear passengers. As a whole, the progressing automotive industry is acting as a major driver for the automotive HVAC industry.
In 2018, total vehicle production has dropped by 1.1% to 95.63 million units as compared to the previous year. Passenger car sales have decreased by 3.25% to 70.57 million units and commercial vehicle sales have increased by 5.9% to 20.63 million as compared to the previous year. The governments across the globe are taking initiatives to boost the passenger car sales by revising the tax rates, managing the inventory, etc. which will further contribute toward the growth of HVAC market over the forecast period.
Influence of the Automotive HVAC market report:
Comprehensive assessment of all opportunities and risk in the Automotive HVAC market.
Automotive HVAC market recent innovations and major events.
Detailed study of business strategies for growth of the Automotive HVAC market-leading players.
Conclusive study about the growth plot of Automotive HVAC market for forthcoming years.
In-depth understanding of Automotive HVAC market-particular drivers, constraints and major micro markets.
Favorable impression inside vital technological and market latest trends striking the Automotive HVAC market.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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