Global Automotive HVAC (Heating Ventilation and Air Conditioning) 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
HVAC (Heating Ventilation and Air Conditioning) is the technology used for maintaining a pleasant temperature and ambient indoor conditions in an automobile. The temperature inside the automobile is adjusted to a degree relative to the temperature of the surrounding. HVAC, thus helps maintain temperate conditions that are conducive for drivers to stay inside the automobiles comfortably for longer durations. The system is useful in case the outside temperatures are either too high or too low, causing discomfort to automotive rider. Earlier, the use of automotive HVAC systems was considered a luxury, and not all automobiles were fitted with HVAC. However, it is now a pre requisite feature in every automobile due to the basic automotive safety and comfort standards, which are accepted globally.
In its recently published research study, Market Research Future (MRFR) asserts that the global automotive HVAC market is booming and expected to expand exponentially over the review period, recording a significant market valuation and a modest 9% CAGR over the forecast period.
The major market players operating in the global market as identified by MRFR are –
The Keihin Corporation (Japan), Sensata Technologies (U.S.), Johnson Electric Holdings Limited (Hong Kong), Calsonic Kansei Corporation (Japan), Valeo (France), and Denso Corporation (Japan). Hanon Systems (South Korea), MAHLE GmbH (Germany), Sanden Corporation (Japan), and Japan Climate Systems Corporation (Japan), are among the other players fueling the growth in this market.
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Impact of COVID-19 on the Automotive HVAC Market
The automotive sector registered a severe decline in vehicle production and sales amidst the Covid-19 period due to unexceptional lockdowns resulting in slowing the growth of the economy across the globe. The lockdown measures have further affected the supply chains of components and raw materials required for the automotive HVAC industry. Several industry players Automakers in countries such as the US, India, and Japan along with regions including Europe have suspended their operational activities considerably disrupting the production rates. Several OEMs are involved in implementing multiple strategies to ease the effect of Covid-19 impact on their revenue generation. Industry players focus on reducing their inventory by targeting high sales and enhanced services in open markets that will positively influence the automotive HVAC market share over the forecast timeframe.
A major slowdown of trade among countries along with temporary closure of manufacturing facilities owing to the rising pandemic situation has substantially affected the automotive HVAC sector. The increasing COVID-19 impact has placed immense pressure coupled with rising competition among industry players across the globe. This will further compel industry players to involve in strategic mergers and acquisitions to cope with survival in the industry with the increasing pressure and deteriorating market revenue.
Industry players and contributors are engaged in taking several measures for operational safety that include regular health updates, temperature screening, and reconfiguring assembly lines for improving social distancing among employees. Moreover, few manufactures are also taking strict measures including voluntary blood testing to verify the virus exposure to reduce the pandemic impact. Moreover, Multiple OEMs in the US are planning to reinitiate the production in the coming days that will support the automotive HVAC market growth. Some industry players along with tier 2 and tier 3 suppliers in China have already started the manufacturing operations following the measures required to reduce the Covid-19 impact on the company premises. The rising awareness regarding the Covid-19 and stringent measures taken by government bodies across the globe will substantially support the automotive HVAC product growth.
Scope of Report
The report for Global Automotive HVAC Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
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 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Tables
Table 1 Global Automotive HVAC Market: By Region, 2017-2023
Table 2 North America Automotive HVAC Market: By Country, 2017-2023
Table 3 Europe Automotive HVAC Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive HVAC Market: By Country, 2017-2023
Table 5 RoW Automotive HVAC Market: By Country, 2017-2023
Table 6 Global Automotive HVAC Market, By Technology, By Regions, 017-2023
Table 7 North America Automotive HVAC Market, By Technology, By Country, 2017-2023
Table 8 Europe Automotive HVAC Market, By Technology, By Country, 2017-2023
Table 9 Asia Pacific Automotive HVAC Market By Technology, By Country, 2017-2023
Table 10 RoW Automotive HVAC Market By Technology, By Country, 2017-2023
List Of Figures
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Automotive HVAC Market Share, By Technology, 2016 (%)
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