Published Date : Jul 10, 2017
Albany, New York, July 10, 2017: A report on the global automotive heating, ventilation, and air conditioning (HVAC) compressor market has been recently added to the ever-expanding research report repository of MarketResearchReports.biz. This report, titled “Global Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market 2017-2021,” states that the global automotive HVAC compressor market will exhibit a nearly 5% CAGR over the period between 2017 and 2023. The vast rise in the global sales of passenger cars is expected to provide the most traction to the overall development of the global automotive HVAC compressor market over the said period.
The report states that the global sales of cars have gone up 3% in 2016 as compared to the previous year and that most of these numbers have been contributed by sales across the crossovers and SUV segments in the Europe and China passenger car markets. With such rise in demand, key car manufacturers such as Toyota have already begun to expand their production capacities of passenger cars. This is expected to have a direct impact on the global demand for automotive HVAC compressors in the next few years.
The report states that compact variable compressors (CVC) will witness a significant rise in preference over conventional compressors owing to the significant benefits in terms of higher speed and better economy that the former offer. CVCs manufactured by Delphi are already in use in General Motor vehicles such as Century, Malibu, Cavalier, and Sunfire and are projected to also be featured in vehicles made by the Volkswagen group in the Near future.
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In terms of application, the passenger car segment dominated the global automotive HVAC compressor market in 2016 and is projected to remain the leading contributor of revenue to the global market over the forecast period as well. The mounting rise in passenger car sales globally and the introduction of several government policies that are encouraging the uptake of passenger cars in China will drive the demand for HVAC compressors in passenger cars over the forecast period.
From a geographical standpoint, the market for automotive HVAC compressor has been examined for regions such as Asia Pacific (APAC), Americas, and Europe, Middle East and Africa (EMEA). Of these, the market in APAC dominated in terms of revenue contribution in 2015 and is expected to retain its lead spot over the forecast period as well. The regional market will be driven due to factors such as the vast rise in demand for effective transportation facilities to sustain the mounting population in emerging economies such as India and China, increased focus on infrastructure development, and the world’s maximum growth rate in terms of sales of passenger cars.
Some of the leading companies operating in the highly competitive global market for automotive HVAC compressors are Johnson Electric, Valeo, DENSO, Delphi, Calsonic Kansei, and Visteon.
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