Automotive HVAC System Market will reach USD 21.2 Billion by 2025
Automotive HVAC System Market: by Technology (Manual and Automatic), by Component (Evaporator, Compressor, Condenser, Receiver/Dryer, and Expansion Device), by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)
Automotive HVAC system market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the automotive HVAC system industry.
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Automotive HVAC System: Market Introduction
The automotive HVAC system market size is USD 17.8 Billion in 2019 and is expected to register a 4% CAGR during the forecast period 2020-2025. A heating, ventilation and air conditioning (HVAC) system in a vehicle is used to regulate the vehicle's temperature and ambient conditions. HVAC system controls the temperature, monitors the humidity, and removes the excess moisture. It has a broad range of thermal control functions such as fogging sensors, automatic temperature control, and fan speed alterations. In the last decades, HVAC systems' use was considered a luxury feature, and not all vehicles had an HVAC installed. However, it is now a pre-requisite feature for any vehicle because of the basic safety and comfort requirements.
Automotive HVAC System: Market Dynamics
Rising demand for passenger vehicles and the need for luxury and convenience vehicle is the preliminary drivers for the growth of automotive HVAC system market. The HVAC system's demand is rising by lowering the cost of the vehicle's electronic systems, sensors, and automatic climactic control functions, which is anticipated for the growth of the automotive HVAC market. Also, an increase in the number of private car rental companies, the sales, and the production of passenger cars has increased in developing economies, which positively affected the growth of the automotive HVAC system market.
Economies worldwide seek to reduce their carbon emission, and the introduction of eco-friendly automotive HVAC systems is gaining traction in the global market as they are energy-efficient and have renewable technology. The adoption of environmentally friendly refrigerants such as R32 and services are attracting more popularity across the globe. Production of cheaper HVAC systems would reduce the total vehicle cost and, therefore, be expected to accelerate the global automotive HVAC system market's growth. Moreover, coating antimicrobial substances will guarantee no microbial infection that is susceptible to the HVAC. Government incentives, along with lower bank loan rates, would fuel the automotive HVAC system market growth.
COVID-19 Impact on Automotive HVAC System Market
The COVID-19 pandemic has disrupted the global automotive HVAC system market, and companies have been forced to restructure their plans to cope with the pandemic. COVID-19 influences the automotive industry in three major ways: by impacting production and demand, by disturbing the supply chain and market, and by its financial effect on companies. Owing to manufacturing discrepancies and global economic issues, several companies have delayed their plans. To prevent coronavirus spread, workers have returned to their hometowns, which have significantly affected the production.
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Automotive HVAC System Market: Scope of the Report
The report outlines the automotive HVAC system market study based on technology, components, and vehicle type.
Based on technology, the automotive HVAC system market is segmented into-
- Manual
- Automatic
Based on the component, the automotive HVAC system market is segmented into-
- Evaporator
- Compressor
- Condenser
- Receiver/Dryer
- Expansion Device
Based on vehicle type, the automotive HVAC system market is segmented into-
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Automotive HVAC System Market: Regional Outlook
Asia Pacific is projected to be the leading automotive HVAC system market trailed by Europe and North America during the forecast period, due to an increase in the production of premium motor vehicles globally. North America is estimated to experience a growing CAGR owing to surging demand for luxury vehicles. In addition to considerable humidity, the temperature is high over the Asia Pacific region, including HVAC systems for pleasant driving. Due to severe low-temperature conditions that persist almost throughout the year, the European region has a high demand for automotive HVAC systems.
Automotive HVAC System Market: Competitive Analysis
Top automotive HVAC system companies in 2020 include Air International Thermal System, Brose Fahrzeugteile GmbH & Co. Kg., Calsonic Kansei Corporation, Denso Corporation, Eberspacher Climate Control System GmbH & Co. Kg.
The other companies are Gertherm Incorporation, Hanon systems, Japan climate systems Corp, Johnson Electric Holdings Ltd, Keihin Corporation, Kongsberg automotive holding Asa, MAHLE Behr GmbH, Sanden Corporation, Subros Limited, Toyota Industries Corporation, Valeo SA, DelStar Technologies, and Sensata Technologies.
- The first eco-friendly CO2 refrigerant compressor built for passenger cars was unveiled in July 2017 by Sanden Corporation. Besides, Sanden supplied these compressors to Daimler AG.
- Denso Corporation announced in October 2015 to assist Toyota in developing Prius to boost hybrid, sensor, and thermal technology for a cleaner, fuel-efficient, and greener environment.
The automotive HVAC system market report provides a thorough analysis of macro-economic factors along with the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs from industry participants and industry experts across the value chain.
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Automotive HVAC System Market Report Covers Comprehensive Analysis On:
Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter's Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Automotive HVAC System Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific(China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Automotive HVAC System: Target Audience
- Automotive HVAC system manufactures
- Automotive HVAC system distributors and raw material suppliers
- Tier 1 component suppliers
- Automotive HVAC system battery manufacturers
- Research institutions and universities
- Trade publications and magazines
- Government authorities, associations, and organizations
- Independent aftermarket players
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Key Issues Addressed
- What is the market size by various segmentation of the automotive HVAC system by region and its respective countries?
- What is the customer buying behavior, key takeaways, Porter’s 5 forces, and Supply Chain of the automotive HVAC system market?
- What are the key trends and opportunities for OEMs and tier 1 suppliers in the automotive HVAC system market?
- What are the key dynamics (drivers, restraints, opportunities, and challenges) of the market?
- What and how regulations, schemes, patents, and policies are impacting the growth of the market?
- What are the upcoming technology solutions influencing market trends? How will existing service providers adapt to the shift in technology trends?
- What will be the impact of cutting-edge autonomous technology on the automotive HVAC system market?
- What is the impact of COVID-19 on the demand and sales of the automotive HVAC system in the global market?
- Detailed analysis of the competitors and their latest launch, and what are the main startups introduced in the target market?
- Company profiles of prominent companies and startups in the market
