The global automotive
HVAC market size is anticipated to reach USD 22.12 billion by
2022, according to a new study by Grand View Research, Inc.
Price, energy efficiency, and technological
advancement are key factor affecting buying behavior. Development of
eco-friendly solutions owing to rising environmental concerns and lower the
carbon footprints is expected to provide competitive advantage to industry
players.
Industry players make huge investment in research and
development to enhance their offering and gain competitive edge for instance;
initiatives are taken to lower weight and size of system for better
adaptability Increasing demand for private vehicle owing to growing car rental
industry and rising average time spent in vehicles is anticipated to boost
industry growth. Additionally, easy automobile finance schemes may also favor
the global market.
Browse full research report on Automotive HVAC Market: https://www.grandviewresearch.com/industry-analysis/automotive-hvac-market
Further
key findings from the study suggest:
- Passenger car segment is expected to witness increase in demand
owing to improving road infrastructure worldwide and is estimated to grow
at a CAGR of around 8% over the forecast period. Increasing personnel
mobility needs and growing urbanization is expected to boost passenger
HVAC demand over the forecast period. Popularity of electric or hybrid
vehicle is also anticipated to contribute to the overall revenue growth. .
- Macroeconomic condition and regulation such as mining ban in India
may affect the demand of Heavy Commercial Vehicle (HCV). Increasing LCVs
demand particularly in rural areas is expected to open new growth
opportunities for the segment growth.
- Asia Pacific automotive HVAC market is estimated to show growth
owing to rising middle class population and increasing disposable income.
Presence of developing economies such as India and China is expected to
boost industry growth over the next seven years. Increasing adoption of
premium automobile brands in developing nation such as India and Brazil
may also provide growth opportunities for industry players.
- According to Valeo Group, number of vehicle produced in China has
doubled since 2007, with more than 23 million vehicle productions in 2014,
which accounted for 27% of global production. North America automotive
HVAC market is anticipated to grow at a CAGR of over 7.5% from 2015 to
2022.
- The key industry participants include Denso Corporation, Hanon
Systems, Mahle Behr GmbH, Valeo Group and Japan Climate Systems
Corporation. Other prominent vendors include Air International Thermal
Systems, Sanden Holdings Corporation, Calsonic Kansei, DelStar
Technologies, Brose Fahrzeugteile GmbH & Co. Kg, Engineered Plastic
Components, Johnson Electric, and Sensata Technologies.
- In October 2015, Aotecar New Energy Technology Company Ltd acquired
Air International Thermal Systems to offer integrated air-conditioning
systems to automobile manufacturers. In December 2013, Air International
Thermal Systems and Tata Toyo Radiator Limited signed a joint venture to
provide HVAC systems to the Indian automotive industry.
- In February 2015, Delphi entered into a definitive agreement with
MAHLE GmbH to sell its thermal business for USD 727 million. This
acquisition has helped Mahle Group to increase its market penetration and
enhance its technological capability.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand
View Research has segmented the automotive HVAC market on the basis of
technology, vehicle type and region:
Automotive
HVAC Technology Outlook (USD Million, 2012 - 2022)
- Automatic
- Manual
Automotive
HVAC Vehicle Type Outlook (USD Million, 2012 - 2022)
- Passenger
Cars
- Light
Commercial Vehicles (LCVs)
- Heavy
Commercial Vehicles (HCVs)
Automotive
HVAC Regional Outlook (USD Million, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
No comments:
Post a Comment