Automotive HVAC Market 2020 Global Industry Forecast To 2023 Research Report is latest Global Automotive HVAC Industry Report published by Market Research Future. According to Market Research Future (MRFR), the global Automotive HVAC market is estimated to rise at a 9% CAGR during the forecast period (2020 to 2023).
Global Automotive HVAC Market Research Information by Technology (Manual and Automatic), by Component (Evaporator, Compressor, Condenser, Receiver/Drier and Expansion Device), by Vehicle Type (Passenger Cars, LCV, and HCV) and regions – Forecast till 2023
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Global Automotive HVAC Market
Market Research Future (MRFR), in its recently published research report, asserts that the global automotive HVAC market is thriving and slated to grow exponentially over the review period, registering a substantial market valuation and a moderate 9% CAGR in the forecast period.
Drivers and Restraints
There are several factors accountable for the growth of the global automotive HVAC market. Primarily, there is an increasing demand for thermal systems and automatic climate control features in automobiles. Furthermore, people travel in their personal automobiles for long distances in the urban sector, and hence the need for HVAC is higher. Moreover, due to global warming and climate change, global temperatures are rising, which leads to a higher demand for ambient temperatures inside the automobile. Additionally, the awareness regarding the use of environment-friendly refrigerants and automotive coolants in the HVAC system leads to the need for advanced and technically evolved HVAC systems, thus increasing their sales.
Segmental Analysis
Based on technology, the market is bifurcated into manual and automatic. Budget vehicles generally install manual HVAC. These systems involve all the functional mechanisms of the HVAC system, which needs being switched on manually. The system thus needs the physical effort of kick-starting the HVAC system in motion and does not detect the external temperature. Therefore, the temperature inside the automobile is needed to be set manually, according to the individual requirement of the passengers or the driver. The automatic HVAC system detects the outside ambient temperature and is set in motion automatically. The external temperature is measured by a sensor, which feeds this data to a central electronic unit (CEU). The CEU is also provided with data covering the temperature readings of the automobile interiors. The CEU associates the two temperatures and mechanically starts the HVAC and brings the required temperature inside the automobile to a level where the passengers would be at ease. The system also begins when the automobile engine is started and requires constant real-time temperature data of the exterior and interior of the automobile.
Among the components, the HVAC system is made up of components such as the Receiver/Drier, Compressor, Evaporator, Condenser, and the Expansion Device. Air from the external atmosphere is sucked into the compressor with the help of rotating fans, which are motorized by an electric motor. This air is therefore sucked into the compressor, whose main responsibility is to compress the coolant liquid inflowing into the compressor from the evaporator at ambient temperature. The compressor compresses the coolant liquid at a high pressure, successively raising the temperature of the liquid in the process. This high-pressure high-temperature liquid is passed into the condenser, where the vapor coolant changes to a liquid state. This unit condenses the vapor causing a reduction in temperature. This low-temperature liquid coolant goes through an expansion valve, where it experiences additional temperature and pressure drop. This low-temperature liquid cools the air, which then blows inside the automobile, therefore getting heated in the process. Therefore, hot air is again sucked in by the compressor, and the process continues.
Regional Landscape
The geographic analysis of the global market has been conducted in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East and Africa). The Asia Pacific market is slated to duel the growth of this market. India and China are expected to have healthy growing economies, which will drive the automotive market in this region. Japan is driving the Asia Pacific market in automotive innovation. Significant sales of automobiles are expected in this region due to the large population, growing demand for passenger vehicles, rising per capita income of the middle class, and a higher standard of living. In addition to sizable humidity, the temperature over this region is relatively high, which demands the deployment of HVAC systems for a pleasurable driving experience. The European region has quite a high demand for the HVAC systems due to extreme low-temperature conditions persisting almost throughout the year.
Competitive Dynamics
The major market players operating in the global market as identified by MRFR are Sensata Technologies (U.S.), Johnson Electric Holdings Limited (Hong Kong), The Keihin Corporation (Japan), Calsonic Kansei Corporation (Japan), Valeo (France), and Denso Corporation (Japan). Hanon Systems (South Korea), Sanden Corporation (Japan), MAHLE GmbH (Germany), and Japan Climate Systems Corporation (Japan), are among the other players fueling the growth in this market.
Major Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Researc
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
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