Coronavirus's Impact On Automotive Multi-domain HVAC System Market

Automotive multi-domain HVAC system market: Introduction

Adoption of sensors, such as proximity sensors, photon sensors, and temperature sensors, has increased in a vehicle. This is attributed to a rise in automation of vehicles for enhanced performance and efficiency and comfort and convenience of passengers, which has led to continuous improvement of HVAC systems in vehicles. This, in turn, is expected to fuel the automotive multi-domain HVAC systems market.

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HVAC represents heating, ventilation, and air conditioning in vehicles. HVAC system regulates temperature, ventilation, and dehumidification in the vehicle in order to enhance driving comfort. The automotive multi-domain HVAC system regulates temperature and humidity of the vehicle cabin automatically with the help of sensors and is a luxury feature added to vehicles in order to attract consumers.

Key drivers of global automotive multi-domain HVAC system market

Increasing demand for sun-sensitive HVAC system, which ensures comfortable cabin environment for all occupants, is propelling the automotive multi-domain HVAC system market. For instance, implementation of photon sensors, which are able to sense solar radiations, coupled with temperature sensors in an intelligent HVAC system enable a vehicle to sense the position of the sun and the temperature of the surrounding, respectively. This enables the HVAC system to automatically regulate the cabin temperature in the vehicle, thereby increasing the efficiency of HVAC system to regulate vehicle cabin temperature.

Rise in demand for increased performance of vehicle systems, such as HVAC, and technological advances are driving the multi-domain HVAC system market. Furthermore, increased demand for multi-function electronic components is paving the road for innovation in the semiconductor industry, which in turn is boosting the automotive multi-domain HVAC system. For instance, STMicroelectronics has developed a wide range of thermal sensors for several applications including sensors for monitoring rise in temperature in engine and the vehicle cabin. The applications mentioned above have increased the complexity of technology incorporated in the vehicle; however, it is projected to drive the multi-domain HVAC system market.

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Rise in trend toward advanced automatic control systems and willingness of consumers to pay more for comfort and luxury have led to an increase in the demand for vehicles incorporated with HVAC systems. Moreover, stringent government regulations pertaining to vehicle emissions and fuel economy call for more advanced and efficient vehicles. HVAC system in a vehicle derives power from the vehicle engine.

Therefore, the need for fuel efficient multi-domain HVAC system is rising. For instance, Corporate Average Fuel Economy regulations enacted by National Highway Traffic Safety Administration in U.S. mandate all automakers to increase fuel economy of their passenger cars and light trucks.
Sales of vehicles have declined globally; however, rise in penetration of SUVs and electric vehicles indicate optimistic growth of the overall automotive market.

Rise in demand for sport utility vehicles, which offer more cabin space and advanced HVAC system, is fueling the multi-domain HVAC market. For instance, in 2018, in terms of volume, SUV sales stood at 29.77 million units, which indicated a 6.8% increase, as compared to 27.88 million SUV units sold in 2017. Furthermore, countries including Russia, U.S., Canada, and China were major contributors to total global SUV sales in 2018.
Asia Pacific to be highly lucrative market for automotive multi-domain HVAC systems
Asia Pacific is witnessing rapid technological advancements. For instance, China is a key country in terms of research and development of electric vehicles.

Furthermore, China is witnessing rapid adoption of electric vehicles for both public and personal transport. Strategic partnership between OEMs to increase the production capacity of vehicles in counties, such India, is expected to boost vehicle production. For instance, in May 2018, Toyota Motors and Suzuki Motor Corporation signed a contract to share and expand the manufacturing facility owned by Toyota, at Bengaluru, India, to increase vehicle production. The factors mentioned above offer lucrative opportunities to manufacturers of multi-domain HVAC system in Asia Pacific.

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This release was published on openPR.