PUNE, INDIA, INDIA, April 1, 2020 /EINPresswire.com/ —
AUTOMOTIVE DEPENDENT HVAC Market – 2019-2025
The Automotive Dependent HVAC market is expected to register a CAGR of around 6%, during the forecast period, 2019-2025.
Some of the major factors driving the growth of the market are higher adoption rate of automatic climate control feature, increase in the demand for thermal systems, and usage of eco-friendlier refrigerants are driving the market’s growth.
Asia-Pacific region dominated the Automotive Dependent HVAC market, followed by North America and Europe, and is expected to witness fast growth rate during the forecast period.
The future of HVAC is expected to witness significant developments, which include electronics and compressor designs. DuPont has developed a new technology in HVAC, which helps in eliminating the temperature-related problems in vehicles. The concern over refrigerant leakage into the atmosphere, which causes hazardous environmental effects, has laid roots for innovations to counter leakages.
The Automotive Dependent HVAC market is mainly dominated by established players. Some of the major companies operating in the Automotive Dependent HVAC market are Delphi Automotive, Denso Corporation, Mitsubishi, and Hanon Systems
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The following manufacturers are covered:
South Air International
Segment by Type
Segment by Application
This report provides comprehensive analysis of
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Opportunity mapping in terms of technological breakthroughs
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Key Market Trends
Increasing Production of Automobiles
Passenger car sales have been increasing across the world. In 2017, global passenger cars production accounted for 97,302,534 units. China has the largest share for passenger cars, followed by the United States, Japan, Germany, South Korea, and India. Improving road infrastructure and rising disposable income of the middle-class group are driving the passenger car market in the developing countries. Competitive pricing of vehicles by auto manufacturers also has created a huge demand for passenger cars in developing countries.
This spike in the automotive industry resulted in growing automobile production and the subsequent demand for features such as the air-conditioner, automatic climate control, dual-zone temperature control, etc. Also, the industry is witnessing a consumer preference toward SUVs and MPVs, which generally have an extra AC setup or vents for the convenience of rear passengers. As a whole, the progressing automotive industry is acting as a major driver for the Automotive Dependent HVAC industry.
High growth anticipated in the Asia-Pacific region
Owing to a huge growth in population, as well as economic development in countries, like China, India, Japan, and ASEAN countries, etc., the automotive industry in Asia-Pacific is projected to record growth at a faster pace.
According to a recent study by the International Energy Agency (IEA), passenger car ownership in India is expected to grow by 775%, from 2016 to 2040. The Indian government aims to make automobile manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026. Thus, the growing demand for cars, as well as a conducive environment for the automobile industry is expected to boost the ancillary industries, which include HVAC systems.
Also, owing to the increasing luxury car market share, foreign luxury carmakers, such as Volkswagen, Volvo, and Audi are planning to step up new investments in different countries of the Asia-Pacific region, thereby driving the advanced HVAC systems, which are required for high-end cars. A surge in the demand is expected for refrigerated vans, as cold supply chain management is also expected to witness a boost in demand.
The Automotive Dependent HVAC market is a consolidated market. The top global players account for most of the market share. The major companies in the air-conditioning market include Delphi Automotive, Denso Corporation, Mitsubishi, and Hanon Systems. Mergers and acquisitions, partnership with regional HVAC equipment manufacturers, as well as establishing and ensuring tie-ups with car manufacturers are some of the dynamics shaping the competitive landscape of this market.
Customization of the Report
Value chain analysis
Consumer behavior analysis at country level
The report includes six parts, dealing with:
1.) basic information;
2.) the Asia AUTOMOTIVE DEPENDENT HVAC Speaker Market;
3.) the North American AUTOMOTIVE DEPENDENT HVAC Speaker Market;
4.) the European AUTOMOTIVE DEPENDENT HVAC Speaker Market;
5.) market entry and investment feasibility;
6.) the report conclusion.
Table of Content:
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
The key insights of The report Research:
1.The report Research provides key statistics on the market status of the AUTOMOTIVE DEPENDENT HVAC manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report Research provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report Research presents the company profile, product specifications, capacity, production value, and 2019-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report Research estimates 2019-2025 market development trends of AUTOMOTIVE DEPENDENT HVAC industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report Research makes some important proposals for a new project of AUTOMOTIVE DEPENDENT HVAC Industry before evaluating its feasibility.
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Source: EIN Presswire