Press release
Automotive HVAC Market Global Competition and Business Outlook 2021 to 2025 - DENSO Corporation, Delphi Automotive PLC, MAHLE GmbH, Valeo SA, Hanon Systems
The “Automotive HVAC Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.The automotive HVAC market is expected to register a CAGR of over 5.5%, during the forecast period, 2020 - 2025.
The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Automotive HVAC market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Automotive HVAC Market: - 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, and Other.
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Key Market Trend:
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.
High growth anticipated in the Asia-Pacific region
Owing to a huge growth in population, as well as economic development in countries, like China, India, Japan, and ASEAN countries, etc., the automotive industry in Asia-Pacific is projected to record growth at a faster pace.
According to a recent study by the International Energy Agency (IEA), passenger car ownership in India is expected to grow by 775%, from 2016 to 2040. The Indian government aims to make automobile manufacturing the main driver of Make in India initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026. Thus, the growing demand for cars, as well as a conducive environment for the automobile industry is expected to boost the ancillary industries, which include HVAC systems.
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Influence of the Automotive HVAC market report:
-Comprehensive assessment of all opportunities and risks 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.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Automotive HVAC Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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