Automotive HVAC Market By Type (Passenger Cars and Commercial Vehicles (HCVs and LCVs), By Technology (HVAC and Manual HVAC), Industry Trends, Estimation & Forecast, 2016 - 2024

August 2017

 Pages: 115

 ERC 6538

Automotive HVAC Market has been estimated to garner a revenue of $13.7 billion in 2016 and is projected to reach $27.5 billion by 2024, growing at a CAGR of 9.3% from 2017 to 2024. In 2016, Passenger Car HVAC system segment generated the highest revenue share of $ 9.1 billion.

Heating Ventilation and Air Conditioning (HVAC) is a technology that provides temperature and interior environment control in vehicles and commercial & residential buildings. Ventilation is a process of exchanging outside air in any space to provide high quality fresh and purified air which comprises of removal of dust, moisture, humidity, smoke, heat, bacteria and related gases. It eliminates moist and humid air as well as circulates fresh air inside the vehicle. HVAC system is used to control the internal temperature of the vehicle and also circulating purified air inside the vehicle, ensuring comfort to the driver and onboard passengers.

Some of the factors that are driving the growth of HVAC market are the development of automobile market, the introduction of a new vehicle with advanced technologies, increasing demand for luxury cars with more comfort, extreme climatic conditions, increasing income levels and development of economic conditions. On the other hand, fuel economy, high maintenance cost and strict government regulations are some of the factors that hinder the growth of the HVAC market. Technological advancements, changing customer preferences and development in motor vehicle production creates huge opportunity in the industry.

The Automotive HVAC market is segmented based on type, technology, and geography. On the basis of the type, it is segmented into passenger cars and commercial vehicles (HCVs and LCVs). By technology, it is segregated into automatic HVAC and manual HVAC. Automotive HVAC systems are expected to attain a major growth in the near future. On the basis of geography, the market is divided into North America, Europe, APAC and Rest of the World, where Asia-Pacific leads the market growing at a CAGR of 10.5% during the forecast period. Countries such as India, Japan, Germany, and U.S. are expected to dominate the global HVAC market throughout the forecast period.

The key market players are Sensata Technologies Inc., Keihin Corporation, Calsonic Kansei Corporation, Sanden Holdings Corporation, Valeo, Denso Corporation, Hanon Systems, Johnson Electric Holdings Ltd, Japan Climate Systems Corporation, and Mahle GmbH.

Automotive HVAC Market Segmentation

The market is segmented on the basis of Type, Technology and Geography.

By Type

   • Passenger Cars

   • Commercial Vehicles

           o Heavy Commercial Vehicles (HCVs)

           o Light Commercial Vehicle (LCVs)

By Technology

   • Automatic HVAC

   • Manual HVAC

By Geography

   • North America

          o US

          o Canada

          o Mexico

   • Europe

          o Germany

          o UK

          o Spain

          o Italy

          o France

          o Rest of Europe

   • APAC

          o India

          o China

          o Japan

          o South Korea

          o Rest of APAC

   • Rest of the World

          o Latin America

          o Middle East

          o Africa

Key Market Players

   • Sensata Technologies Inc.
   • Keihin Corporation
   • Calsonic Kansei Corporation
   • Sanden Holdings Corporation
   • Valeo
   • Denso Corporation
   • Hanon Systems
   • Johnson Electric Holdings Ltd
   • Japan Climate Systems Corporation
   • Mahle GmbH

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    What Information does this report contain?

    • What was the market size of the Automotive HVAC Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Automotive HVAC Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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