According to the latest report "Automotive HVAC Market by Technology (Manual and Automatic), by Component (Evaporator, Compressor, Condenser, Receiver/Drier and Expansion Device), by Vehicle Type (Passenger Cars, LCV, and HCV) and region with Forecast To 2023, published by Market Research Future, the Global Automotive HVAC Market to witness 9% compound annual growth rate by 2023. —
Automotive HVAC Market Highlights:
The key players in global automotive HVAC market are Sensata Technologies (U.S.), The Keihin Corporation (Japan), Calsonic Kansei Corporation (Japan), Sanden Corporation (Japan), Valeo (France) and Denso Corporation (Japan). Hanon Systems (South Korea), MAHLE GmbH (Germany), Johnson Electric Holdings Limited (Hong Kong) and Japan Climate Systems Corporation (Japan) are among the other players in this market.
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Automotive HVAC Market Drivers and Restraints:
The global automotive HVAC (heating, ventilation, and air conditioning) market is projected to expand at a 9% CAGR (2018 to 2023), as per a new report by Market Research Future (MRFR). Increasing demand for thermal systems and automatic climate control features in the automobiles, usage in personal automobiles particularly in the urban sector, and global warming and climate changes drive the automotive HVAC market. Rise in temperatures worldwide are leading to greater demand for ambient temperatures inside cars. Additionally, increasing awareness regarding the use of environment-friendly refrigerants and automotive coolants in HVAC systems can drive demand for advanced and technically evolved HVAC systems, hence increasing their sales.
There are several factors responsible for the growth of the global automotive HVAC market. Firstly, there is an increasing demand for thermal systems and automatic climate control features in the automobiles. Secondly, people travel in their personal automobiles for long distances in the urban sector, and hence the need for HVAC is higher. Thirdly, due to the global warming and climate change, global temperatures are rising, which leads to greater demand for ambient temperatures inside the automobile. Additionally, the awareness regarding the use of environment friendly refrigerants and automotive coolants in HVAC system leads to the demand for advanced and technically evolved HVAC systems, thus increasing their sales.
Automotive HVAC Market Segments Analysis:
The automotive HVAC market is segmented on the basis of technology, component, and vehicle type.
On the basis of technology, the market is segmented into manual and automatic. Budget vehicles make use of manual HVAC, which requires being switched on manually. The temperature inside the automobile is required to be set manually, according to the individual requirement of the passengers or the driver. On the other hand, the automatic HVAC system senses the outside ambient temperature and is set in motion automatically. It decreases energy use and improves occupant comfort. High demand for automatic HVAC among urban automotive users augments the popularity of this segment.
The market is segmented on the basis of components into evaporator, compressor, condenser, receiver/drier, and expansion device. The main job of a condenser is to convert the coolant into a liquid form by cooling it, whereas an automotive AC compressor is responsible for pressurizing the AC system and keeping the refrigerant flowing to ensure smooth functioning. The automotive AC compressor is considered as the principal part of the overall air conditioning system playing a crucial role in efficient performance. Simply put, increasing car ownership all over the world makes this segment highly popular in the market. Subsequently, comfort and convenience of AC in cars is creating the demand for automotive AC compressors.
Automotive HVAC Market Regional Analysis:
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific market is expected to drive the growth of this market. India and China have healthy growing economies, which will drive the automotive market in this region. Japan is leading the Asia Pacific market in the automotive innovation.
Large sales of automobiles are expected in this region due to large population, increasing demand for passenger vehicles, growing per capita income of the middle class, and a higher standard of living. In addition to considerable humidity, the temperature over this region is quite high, which demands the use of HVAC systems for a pleasurable driving experience. The Europe region has quite high demand for the HVAC systems due to extreme low-temperature conditions persisting almost throughout the year.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
LIST OF TABLES:
Table 1 Global Automotive HVAC Market: By Region, 2017-2023
Table 2 North America Automotive HVAC Market: By Country, 2017-2023
Table 3 Europe Automotive HVAC Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive HVAC Market: By Country, 2017-2023
Table 5 RoW Automotive HVAC Market: By Country, 2017-2023
Table 6 Global Automotive HVAC Market, By Technology, By Regions, 017-2023
Table 7 North America Automotive HVAC Market, By Technology, By Country, 2017-202
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Automotive HVAC Market Share, By Technology, 2016 (%)
FIGURE 9 Global Automotive HVAC Market, By Technology, 2015-2023 (USD MILLION)
FIGURE 10 Global Automotive HVAC Market Share, By Component, 2016 (%)
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