Automotive HVAC Market to Propel Growth Based on Initiatives Taken by Government to Revive Auto Industry Till 2022 | Million Insights

FELTON, California, May 23, 2018 /PRNewswire/ --

The global Automotive HVAC Market was valued at USD 11.68 billion in 2014 owing to increasing income level and growing middle class population. Moreover, with the rise of private car rental players such as Uber, Ola, sidecar and Lyft, air conditioning system in the car have become a basic requirement to enhance customer value proposition. The industry is highly competitive and hence investment on Research and Development is a key to enhance product and add value to the companies offering. Companies also invest heavily to develop technological ability to develop energy efficient system that can improve vehicle performance. These systems require considerable amount of power to function and has a negative effect on fuel economy. Reduction of system size and weight is expected to spur industry growth over the forecast period. Initiatives taken by the government to curb global warming is expected to lead to introduction energy efficient systems.

Currently, the users have to select the temperature and blower setting. This is expected to decline over the years owing to low efficiency and complexity. The technology accounted for over 35% market share in 2014. The automatic system is a major technology segment and is expected to continue dominance over the next seven years. Automatic systems accounted for over 55% market share and is expected to grow at a CAGR of over 8.5% during the forecast period. Rising disposable income and availability of various finance schemes is expected to spur growth for the market over the forecast period. Passenger car HVAC market accounted for over 60% overall market by revenue in 2014 and is expected to grow substantially over the forecast period. HVAC system in LCVs are also expected to grow at a CAGR of over 7% due to rising demand from rural areas and availability of better financing schemes.

Asia Pacific automotive HVAC market is expected to witness substantial growth. This growth can be attributed to the presence of major automobile manufacturers and high demand for vehicles in developing nations such as China and India. Asia Pacific accounted for over 40% of overall revenue share in 2014. Initiatives taken by the government to revive the auto industry is expected to propel industry growth over the forecast period. The Indian government has allowed 100% FDI through automatic route in the automobile sector. Increasing production and rising population are expected to make India and China key regions for growth over the forecast period.

Browse 99 page research report with TOC on "Global Automotive HVAC Market" at: https://www.millioninsights.com/industry-reports/automotive-heating-ventilation-air-conditioning-hvac-market

The North American HVAC market is expected to experience substantial growth owing to the improving macroeconomic condition and increasing vehicle production in the region. North America is expected to grow at a rate of over 7% during the forecast period. In addition, increase in disposable income in the U.S is projected to boost regional growth over the forecast period.

The global HVAC industry report is a professional and in depth study on the current state of the global HVAC industry. The report offers an overview about the classification, definition, industry chain structure and applications. The analysis of the HVAC Industry is provided by looking at the trends of industry. Development policies and plans are also discussed and manufacturing processes and cost structures analyzed. HVAC industry export/import consumption, demand & supply figures, cost price and production value gross margins are also provided. The report also talks about the various factors driving the growth for the industry.

The report also focuses on key players of the industry players providing information such as capacity production, product picture & specification, price, cost, contact information and production value. Downstream raw materials and equipment and upstream demand analysis is also carried out. Global HVAC industry development marketing channels and trends are also analyzed. Finally the viability of new investment projects are assessed and overall research conclusions offered.

Some of the key questions answered by the report are market size and its growth rate. It talks about the key market trends and major growth driving forces of the industry. The report also talks about the key challenges faced by the industry. Some of the major industry players include Air International Thermal Systems, Brose Fahrzeugteile GmbH & Co. Kg, Calsonic Kansei, DelStar Technologies, Denso Corporation, Engineered Plastic Components, and Hanon Systems. Other prominent vendors include Japan Climate Systems Corporation, Johnson Electric, Mahle Behr GmbH, Sanden Holdings Corporation, Sensata Technologies, and Valeo Group.

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