Published Date : Dec 13, 2016
ALBANY, NY, Dec 13, 2016: An HVAC system is comprised of three subsystems, namely cooling, heating, and air conditioning, which work together to supply purified air in the vehicle cabin and ensure comfort. It is tasked with maintaining the temperature and an optimal amount of moisture inside the vehicle cabin. Big names in the car industry such as BMW, Mercedes, and Audi provide sophisticated customized HVAC systems with cutting-edge technologies.
According to the research report, the global market for automotive HVAC will likely tread along a healthy growth path by clocking an 8.81% CAGR during the period 2016 to 2020.
The market study, titled “Global Automotive HVAC Market 2016-2020” finds that the market has reached a stage of maturity at present. Hence, HVAC systems are fixed mainly in new vehicles. However, further progress in automotive HVAC technologies leading to innovative additions to components such as materials and refrigerants would likely bring about a continued healthy demand in the global market for HVAC systems. In fact, luxury vehicles are increasingly integrating HVAC with safety systems such as advanced driver assistance systems (ADAS). All these are precursors to the fully automated self-driving vehicles of the future.
Some of the factors driving the market are the automatic climate control feature, growing demand for thermal systems, and rising adoption of eco-friendly refrigerants. Reduction in car emissions by using automatic HVAC with MOSFET (operated in pulse width modulation mode), coupled with various regulations to use environment-friendly technology in HVAC systems, is also boosting growth. One of the factors dampening the growth is the use of polluting refrigerants.
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Depending upon the technology, the report bifurcates the market into automatic HVAC system and manual HVAC system. By application, it segments the market into passenger cars, light commercial vehicles, and heavy commercial vehicles. It forecasts the market from 2015 to 2020 by technology and by application. Geography-wise, it divides the market into the Americas, Asia Pacific, and Europe, the Middle East, and Africa. Among them, Asia Pacific, powered by India, China, and Japan, is forecast to majorly contribute to the revenue in the upcoming years. This would be mainly on account of the burgeoning passenger cars plying on the roads in the region and increasing preference for advanced features over fuel efficiency.
The global market for automotive HVAC is teeming with international vendors and the competition is stiff. Eventually this would lead to swift technological innovations and put a downward pressure on prices, thereby benefiting the consumers. Some of the key vendors operating in the market that have been profiled in the report are MAHLE, Hanon Systems, Valeo, and Denso.
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