Automotive HVAC System Market SWOT Analysis, Business Growth Opportunities by 2027

Description

Automotive HVAC System Market: by Technology (Manual and Automatic), by Component (Evaporator, Compressor, Condenser, Receiver/Dryer, and Expansion Device), by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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Automotive HVAC system market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the automotive HVAC system industry.

Automotive HVAC System: Market Introduction

The automotive HVAC system market size is USD 17.8 Billion in 2019 and is expected to register a 4% CAGR during the forecast period 2020-2025. A heating, ventilation and air conditioning (HVAC) system in a vehicle is used to regulate the vehicle's temperature and ambient conditions. HVAC system controls the temperature, monitors the humidity, and removes the excess moisture. It has a broad range of thermal control functions such as fogging sensors, automatic temperature control, and fan speed alterations. In the last decades, HVAC systems' use was considered a luxury feature, and not all vehicles had an HVAC installed. However, it is now a pre-requisite feature for any vehicle because of the basic safety and comfort requirements.

Automotive HVAC System: Market Dynamics

Rising demand for passenger vehicles and the need for luxury and convenience vehicle is the preliminary drivers for the growth of automotive HVAC system market. The HVAC system's demand is rising by lowering the cost of the vehicle's electronic systems, sensors, and automatic climactic control functions, which is anticipated for the growth of the automotive HVAC market. Also, an increase in the number of private car rental companies, the sales, and the production of passenger cars has increased in developing economies, which positively affected the growth of the automotive HVAC system market.

Economies worldwide seek to reduce their carbon emission, and the introduction of eco-friendly automotive HVAC systems is gaining traction in the global market as they are energy-efficient and have renewable technology. The adoption of environmentally friendly refrigerants such as R32 and services are attracting more popularity across the globe. Production of cheaper HVAC systems would reduce the total vehicle cost and, therefore, be expected to accelerate the global automotive HVAC system market's growth. Moreover, coating antimicrobial substances will guarantee no microbial infection that is susceptible to the HVAC. Government incentives, along with lower bank loan rates, would fuel the automotive HVAC system market growth.

COVID-19 Impact on Automotive HVAC System Market

The COVID-19 pandemic has disrupted the global automotive HVAC system market, and companies have been forced to restructure their plans to cope with the pandemic. COVID-19 influences the automotive industry in three major ways: by impacting production and demand, by disturbing the supply chain and market, and by its financial effect on companies. Owing to manufacturing discrepancies and global economic issues, several companies have delayed their plans. To prevent coronavirus spread, workers have returned to their hometowns, which have significantly affected the production.

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Automotive HVAC System Market: Scope of the Report

The report outlines the automotive HVAC system market study based on technology, components, and vehicle type.

Based on technology, the automotive HVAC system market is segmented into-

Manual
Automatic

Based on the component, the automotive HVAC system market is segmented into-

Evaporator
Compressor
Condenser
Receiver/Dryer
Expansion Device

Based on vehicle type, the automotive HVAC system market is segmented into-

Passenger Car
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)

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Automotive HVAC System Market: Regional Outlook

Asia Pacific is projected to be the leading automotive HVAC system market trailed by Europe and North America during the forecast period, due to an increase in the production of premium motor vehicles globally. North America is estimated to experience a growing CAGR owing to surging demand for luxury vehicles. In addition to considerable humidity, the temperature is high over the Asia Pacific region, including HVAC systems for pleasant driving. Due to severe low-temperature conditions that persist almost throughout the year, the European region has a high demand for automotive HVAC systems.

Automotive HVAC System Market: Competitive Analysis

Top automotive HVAC system companies in 2020 include Air International Thermal System, Brose Fahrzeugteile GmbH Co. Kg., Calsonic Kansei Corporation, Denso Corporation, Eberspacher Climate Control System GmbH Co. Kg.

The other companies are Gertherm Incorporation, Hanon systems, Japan climate systems Corp, Johnson Electric Holdings Ltd, Keihin Corporation, Kongsberg automotive holding Asa, MAHLE Behr GmbH, Sanden Corporation, Subros Limited, Toyota Industries Corporation, Valeo SA, DelStar Technologies, and Sensata Technologies.

The first eco-friendly CO2 refrigerant compressor built for passenger cars was unveiled in July 2017 by Sanden Corporation. Besides, Sanden supplied these compressors to Daimler AG.
Denso Corporation announced in October 2015 to assist Toyota in developing Prius to boost hybrid, sensor, and thermal technology for a cleaner, fuel-efficient, and greener environment.

The automotive HVAC system market report provides a thorough analysis of macro-economic factors along with the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs from industry participants and industry experts across the value chain.

Automotive HVAC System Market Report Covers Comprehensive Analysis On:

Market Segmentation Regional Analysis
Market Size of 10 years
Pricing Analysis
Supply Demand Analysis
Product Life Cycle Analysis
Porter's Five Forces Value Chain Analysis
Developed Emerging Economies Analysis
PEST Analysis
Market and Forecast Factor Analysis
Market Opportunities, Risks, Trends
Conclusion Recommendation
Regulatory Landscape
Patent Analysis
Competition Landscape
15+ Company Profiles

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Automotive HVAC System Market Regional Analysis Includes:

North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific(China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)