Automotive HVAC Market Research Report 2018 – Global Forecast to 2023 is latest report on Global Automotive HVAC Market Size, Share, Growth, Statistics and Trends Analysis. Automotive HVAC Market is segmented by Component (Compressor, HVAC, Powertrain Cooling, and Fluid Transport), System (Motor, Battery, Cabinet Area), Vehicle Type, Electric Vehicle Type (BEV, PHEV, HEV). The Automotive HVAC market is expected to expand at the CAGR of around 9% during the period 2018 to 2023.

Automotive HVAC Market Key Players Analyzed In Report 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.

Automotive HVAC Market Highlights:

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.

On the other hand, the use of polluting refrigerants is expected to undermine the adoption of HVAC systems. However, use of environment-saving refrigerants and adoption of geothermal pumps are anticipated to foster the growth of the automotive HVAC system market.

Automotive HVAC Market Segmentation:

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.

Regional Analysis

Geographically, the automotive HVAC market is segmented into North America, Asia Pacific, Europe, and Rest-of-the-World. The Asia Pacific market is projected to experience high growth thanks to healthy growing economies of India and China. Japan has the upper hand in the Asia Pacific market in terms of automotive innovation. Large sales of automobiles are manufactured in this region due to increasing demand for passenger vehicles, large population, growing per capita income of the middle class, and steadily improving standard of living. Along with extreme humidity, the temperature in this region is quite high, which demands the use of HVAC systems for a pleasurable driving experience. Furthermore, growing government support to the automotive industry can be a plus for the market in the coming years.

Apart from Asia Pacific, the Europe region has quite a high demand for HVAC systems due to extreme low-temperature conditions persisting throughout the year. Moreover, owing to high industrialization, per capita income, and purchasing power of citizens, the demand for cars is expected to rise. 

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