Automotive HVAC System Market to Reach $68.18 Bn, Globally, by 2027 at 5.8% CAGR, Says Allied Market Research

PORTLAND, Oregon, July 6, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Automotive HVAC System Market by Technology (Automatic and Manual), Vehicle Type (Passenger Car, Commercial Vehicle, and Electric Vehicle), and Component (Evaporator, Compressor, Condenser, Receiver-drier, Expansion Valve, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global automotive HVAC system industry was pegged at $43.37 billion in 2019, and is projected to $68.18 billion, growing at a CAGR of 5.8% from 2020 to 2027.

Download Report Sample (275 Pages PDF with Insights, Charts, Figures) @ https://www.alliedmarketresearch.com/request-sample/115

Chief motivators for market growth

Rise in demand for thermal system and automatic climate control features in automobiles, increase in safety & comfort due to adoption of HVAC systems, and surge in vehicle production have boosted the growth of the global automotive HVAC systems market. However, high maintenance cost hampers the market growth. On the contrary, adoption of eco-friendly refrigerants and production of cheaper HVAC systems are expected to create lucrative opportunities in the near future.

Automatic segment held the largest share

The automatic segment dominated the market in 2019, accounting for more than half of the global automotive HVAC systems market, owing to increase in adoption of luxurious vehicle segment and technology shift from semi-automatic to fully automated HVAC systems and high technological advancements in North America, Europe, and some countries of Asia-Pacific. Moreover, the segment is projected to register the highest CAGR of 6.1% during the forecast period.

Get Detailed Pre & Post COVID-19 Impact Analysis on the Automotive HVAC System @ https://www.alliedmarketresearch.com/request-for-customization/115?reqfor=covid

Electric vehicle segment to portray the highest CAGR through 2027

The electric vehicle segment is expected to manifest the fastest CAGR of 11.3% during the forecast period, owing to rise in urbanization, an increase in attractive offers on electric vehicles from various governments, and growing inclination of the consumers toward e-motors. However, the passenger car segment held the largest share in 2019, contributing to nearly three-fourths of the global automotive HVAC systems market, due to rise in disposable income in countries such as India and China, higher adoption of strategies and increase in sales across the globe.

Asia-Pacific, followed by Europe and North America, held the largest share

The global automotive HVAC systems market across Asia-Pacific, followed by Europe and North America, held the largest share in 2019, accounting for more than one-third of the market. Moreover, the region is expected to register the fastest CAGR of 6.1% during the forecast period. This is due to rise in disposable income in Asian countries and the focus of manufacturers on developing new products to meet customer demands.

Interested to Procure The Data? Inquire here @ https://www.alliedmarketresearch.com/purchase-enquiry/115

Major market players

• Denso Corporation
• Hanon Systems (HVCC)
• Valeo services
• Sanden Holdings Corporation
• Calsonic Kansei Corporation
• Johnson Electric
• Mahle GmbH
• Keihin Corporation
• Sensata Technologies, Inc.
• Air International Thermal Systems

Schedule a Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/115

Similar Reports: (10% Discount)

India Automotive HVAC Market 2020-2026: The India automotive HVAC market size generated revenue worth $821.8 million in 2018 and is projected to reach $2,033.1 million by 2026, registering a CAGR of 11.6% during the forecast period.

Passenger Car Accessories Maintenance, After Sales Services Market 2020-2026: The passenger car accessories aftermarket was valued at $128.97 billion in 2018, and is projected to reach $248.41 billion by 2026, registering a CAGR of 8.5% from 2019 to 2026.

Automotive Microcontroller Market 2020-2026: The global automotive microcontroller market was valued at $9.06 billion in 2018, and is projected to reach $15.77 billion by 2026, registering a CAGR of 7.3% during the forecast year 2019-2026.

Vehicle Ignition Coil Market 2020-2026: The global vehicle ignition coil market was valued at $5.59 billion in 2018, and is projected to reach $7.55 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

Pre-book Offer 12% Discount:  

HVAC Insulation Market 2020-2030: The HVAC market is segmented into glass wool, stone wool, phenolic foam, elastomeric foam and others.

Automotive Repair and Service Market 2020-2030: The global Automotive Repair and Service Market is segmented based on part, service providers, vehicle type, and region.

Automotive Seat Climate Systems Market 2020-2023: Global Automotive Seat Climate Systems Market was valued at $9,207 million in 2016, and is projected to reach at $14,048 million by 2023, growing at a CAGR of 6.3% from 2017 to 2023.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
Allied Market Research Blog: blog.alliedmarketresearch.com

Follow Us on | Facebook | Twitter | LinkedIn |

Logo : https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research