Automotive HVAC Market: Industry Growth & Business Statistics Report, 2021-2025

By Ronak Bora

The size of automotive HVAC market was registered at USD 16 billion in the year 2018 and is anticipated to cross USD 25 billion by 2025. Between the period 2019-2025, the market is expected to register a CAGR of 6%
Rising customer expectations and the subsequent surge in demand for comfortable and sophisticated vehicles are boosting automotive HVAC market share. HVAC systems have gained immense popularity over the years, leading to their integration in even entry-level vehicles.
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HVAC systems are used to monitor and control cabin temperatures to suit user preferences. The efficiency of these systems can be attributed to certain parameters like low energy consumption, reduced acoustic noise and sufficient flow delivery, among others.
According to the International Council on Clean Transportation (ICCT), by 2016, vehicle sales in the European Union had completely recovered from the economic crisis that the region had experienced in previous years. in 2017, new vehicle registrations across the EU increased to about 15.2 million units, from the 14.6 million mark in 2016. Similar to previous years, the segment that showed the strongest growth was the sport utility vehicles (SUVs), which sold approximately 4.3 million units – a major factor that may have helped push the regional automotive HVAC market trends.
While the automobile industry did recover significantly over the previous few years, the future growth prospects of the industry appear to be uncertain, due to the looming threat of the UK leaving the EU in a no-deal or hard Brexit, in the event of which the continent’s automobile industry would have to face an extremely volatile consequence. However, a recent assessment by the European Securities and Markets Authority found that overall automobile sales across the continent would remain stable during 2019.
As environmental concerns like global warming and ozone layer depletion become alarmingly prevalent, several economies have initiated stringent regulations and policies regarding fuel-efficiency and sustainability in automobile production. This paradigm shift towards mitigation of CO2 emissions is contributing heavily to automotive HVAC market growth across the globe.
The purpose of these mandates is to increase public awareness regarding these environmental issues and encourage the use of sustainable, low emission and fuel-efficient vehicles, which will in turn lead automotive suppliers to augment variable and fixed displacement type compressors.
The automotive HVAC industry landscape in Europe is set to witness a commendable growth trajectory owing to proliferating premium passenger vehicle production in the region. In Germany, the automotive sector is the most prominent contributor to the nation’s GDP. As a matter of fact, Germany accounted for over 20% of the global passenger car production in 2017, surpassing over 16 million units.
Escalating production of LCVs and passenger cars has brought about a sizeable upsurge in automotive HVAC market demand in South Africa. Key manufacturers in the region comprise myriad European, Asian and American automotive companies including Volkswagen, Toyota, Nissan, Ford, Mercedes and more. Exports to the United States are among the pivotal operations in the region including left-hand drive vehicles such as BMW 3-Series and Ford Ranger, among others.
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Some Point from Table of Contents:
Chapter 4.   Automotive HVAC Market, By Technology
4.1.  Key trends in automotive HVAC industry, by technology
4.2.  Automatic
4.2.1. Market estimates and forecast, 2015 - 2025
4.3.  Manual
4.3.1. Market estimates and forecast, 2015 - 2025
Chapter 5.   Automotive HVAC Market, By Vehicle Type
5.1.  Key trends in automotive HVAC market, by vehicle type
5.2.  Passenger cars
5.2.1. Market estimates and forecast, 2015 - 2025
5.3.  LCVs
5.3.1. Market estimates and forecast, 2015 - 2025
5.4.  HCVs
5.4.1. Market estimates and forecast, 2015 - 2025
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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