The automotive HVAC market will grow 7.5% over the 2018-2027 period – shows Fact.MR
The advancement of air conditioning in passenger cars, light commercial vehicles, and heavy commercial vehicles was one of the notable advances of the 20th century. It is estimated that more than 85% of new passenger cars sold worldwide currently have air conditioning, and the number is expected to increase by 2027. The growing sales of vehicles and the propensity for safety and luxury are the main drivers that are driving the global automotive HVAC market.
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The heating, ventilation and air conditioning (HVAC) system in a vehicle is used to control the interior temperature of the vehicle cabin. The HVAC system mainly consists of three sub-systems, namely heating, cooling and air conditioning, which work together to provide decontaminated air to the vehicle cabin, thus ensuring thermal comfort for the driver and passengers. The HVAC system regulates the air temperature, checks the moisture content of the air and removes unnecessary moisture from the circulating air. Established companies such as Audi, Mercedes, Ford and BMW focus primarily on tailor-made and consumer-friendly HVAC systems. For example, the BMW 6, 7, 8 and 9 series support automatic air conditioning, including air distribution for driver and passengers, fog sensor and automatic air conditioning system.
This report assesses trends that are driving the growth of each segment on a global scale and suggests potential takeaways that could prove materially useful for automotive HVAC manufacturers looking to enter the market. The main regions assessed in this report include North America, Latin America, Europe, Japan, Asia Pacific ex Japan (APEJ), and the Middle East and Africa (MEA).
The sections by vehicle type, component, and technology in the Automotive HVAC Market assess the current scenario as well as the growth prospects of the regional Automotive HVAC market for the period 2018-2027. It has been estimated that the APEJ Automotive HVAC market will dominate the Automotive HVAC market in terms of value due to growing vehicle sales and will account for a maximum share of sales in the market by the end of 2018. The European and North American automotive HVAC markets are projected to account for a combined revenue share of over 40% of the global automotive HVAC market by the end of 2027. Among the emerging markets, the HVAC automotive MEA market is estimated to have a significant CAGR of greater than 8.0% over the forecast period, followed by Japan with a CAGR of around 7.0%.
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In order to gain detailed insights into the demand pattern for the Automotive HVAC market, the market is segmented by vehicle types. It includes passenger cars, light commercial vehicles (LCV) and heavy commercial vehicles (HCV). The passenger car segment is expected to dominate the automotive HVAC market over the forecast period in terms of value, which accounted for more than 40% value share in 2027.
The section – Automotive HVAC Market Analysis by Components comprehensively analyzes the market by components used in Automotive HVAC. The market is divided into evaporator, compressor, condenser, receiver / dryer, and expansion device. The compressor segment in an automotive HVAC market had the highest market share in 2017 at more than 35%.
The section – Automotive HVAC Market Analysis by Technology comprehensively analyzes the market by various technologies with which automotive HVAC works. The market is divided into manual and automatic. The automatic segment had the highest market share in 2017. However, the manual segment is expected to decline over the forecast period as the use of automatic HVAC systems increases in developing countries.
The increasing demand for automotive HVAC in the APEJ region is also prompting leading manufacturers to take advantage of the APEJ market in order to take advantage of opportunities in the region. The automotive HVAC market in North America and Europe is currently experiencing stagnant growth. As a result, companies are targeting emerging markets to grow their revenues.
APEJ region critical in automotive HVAC market
The APEJ region is estimated to have a market share of more than 25% of the global automotive HVAC market in 2018. This share is expected to grow massively, so that the APEJ market will reach a market share of more than 30% by the end, Growing car sales and an increase in disposable income combined with luxury aspects are among the main features that subsidize regional growth. In addition, it is expected that the positive government initiatives to revive the automotive industry will continue to drive regional dominance in the forecast period.
Global Automotive HVAC Market: Competitive Dashboard
Fact.MR has introduced some of the famous companies operating in the global automotive HVAC market, such as Sensata Technologies, Keihin Corporation, Calsonic Kansei Corporation, Sanden Corporation, Valeo, Denso Corporation, Hanon Systems, MAHLE GmbH and Johnson Electric Holdings Limited and Japan Climate Systems Corporation. The key players in the automotive HVAC market are focused on product innovation and collaboration. Vendors in the automotive HVAC market are focused on developing technologically advanced and innovative solutions that can meet changing customer needs. Recently, in 2018, Mercedes Benz presented its A-Class 2019 with voice-controlled air conditioning. The new A-Class hatchback will arrive in Europe in 2019 and will eventually hit the North American market, but in a sedan variant with a trunk at the rear.
Global Automotive HVAC Market: Key Findings
The automotive HVAC market has grown consistently at a CAGR of 7.5% and the market has grown phenomenally. The vendors in the Automotive HVAC market are focused on product innovation to gain a competitive advantage in the market by providing diversified product categories. Top market players held a marginal market share in 2017 and are expected to continue their dominance in the forecast period. However, the threat from new entrants to the automotive HVAC market is relatively minor due to the high cost of manufacturing the HVAC system and the need for technological advancement machinery for manufacturing purposes.
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