The augmenting demand for value for money in respect of luxury automobiles and fuel efficiency are envisaged to emerge as prominent growth factors for the global automotive HVAC market.
Albany, NY -- (SBWIRE) -- 02/10/2017 -- Global Automotive HVAC: General Outline
The global automotive heating ventilation and air conditioning (HVAC) market was formerly driven by the premium feature of having an air conditioning and heating system inside cars. However, with the advancement of automobile technology and demand for high-end cars, the HVAC system became a more standard equipment already provided by automobile manufacturers. Introduced to the market in the 1960s, the HVAC systems are installed to take control of the temperature inside a car cabin, although they are also used indoors. The automatic climatic control provided by an HVAC system caters to the demand of automobile owners for luxury and comfort during the cool and hot weathers.
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Global Automotive HVAC: Key Segments
With regard to components, the international automotive HVAC market is classified into expansion device, receiver or drier, heat exchanging equipment, and compressor. By vehicle type, the segmentation follows as heavy commercial vehicles (HVCs), light commercial vehicles (LCVs), and passenger cars. Manual and automatic are the two important segments that the market is divided into in terms of technology. Geographically, the market can be segregated into Asia Pacific, North America, Europe, and Rest of the World.
Global Automotive HVAC: Significant Growth Factors and Few Challenges
The augmenting demand for value for money in respect of luxury automobiles and fuel efficiency are envisaged to emerge as prominent growth factors for the global automotive HVAC market. On similar lines, the inflating adoption of premium cars and demand for unprecedented comfort are expected to further the growth rate of the market. Moreover, the increasing amount of time spent by owners inside their automobiles and the swelling traction gained by private vehicles compared to those used for public transportation have added to the market growth level.
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On the other hand, the complexity associated with the technology of HVAC systems and transformations in technology have checked the growth of the global automotive HVAC market to some extent.
However, an expanding population base worldwide is becoming familiar with HVAC systems through increasing awareness about technology. This will significantly help the automotive HVAC market to rise above its restrictions.
Global Automotive HVAC: Geographical Outlook
The Asia Pacific region is foreseen to be the land of opportunity for vendors in the automobile sector, owing to the colossal levels of vehicle production in China, India, Japan, and other nations. In fact, Asia Pacific is anticipated to develop as the largest region of the global automotive HVAC market. With fastest growing segments such as India and South Korea and leading countries such as China and Japan in terms of automobile manufacture, Asia Pacific is foretold to secure its numero uno position in the market for the coming years. While Asia Pacific is predicted to grow at a towering CAGR, North America will show a stable growth on account of increasing income levels of consumers and speedy recovery from economic crisis.
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Global Automotive HVAC: Company Profiling
New entrants in the global automotive HVAC market have elevated the curiosity and interest of end consumers, although there were only a few players dominating previously. Some of the crucial companies expected to lead the market are Calsonic Kansei Corporation, Inalfa Roof Systems Group B.V., Eberspacher Climate Control Systems Gmbh & Co. Kg, Toyota Industries Corporation, Johnson Electric Holdings Ltd., Air International Thermal Systems, Keihin Corporation, Japan Climate Systems Corporation, Brose Fahrzeugteile Gmbh & Co. Kg, Delphi Automotive Plc, Denso Corporation, Sanden Corporation, Gentherm Inc., Behr Gmbh. & Co. Kg., and Imasen Electric Industrial Co., Ltd.
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