Global Automotive HVAC Market is expected to reach 37.7 Billion by 2026 from 17.7 Billion in 2017 at CAGR of 8.76%.

The Automotive HVAC market is segmented based on technology, application, and geography. By technology segment, the market is segmented into manual and automatic. By applications, the market is segmented as heavy commercial vehicles (HCVs), light commercial vehicles (LCVs) and passenger cars. Passenger cars automotive HVAC dominates the market in 2017. This is mainly driven by rising passenger vehicle demand coupled with increasing luxury vehicle sales on an international scale. Acceptance of electric or hybrid vehicle is also anticipated to drive the segment over the forecast period. Refining road infrastructure and growing personnel mobility need considering growing urbanization are also among key growth drivers.

The growing throwaway income levels and rising vehicle production is expected to drive the automotive HVAC market size in the forecast period. Customers demand more ease, luxury, and features in the standard car due to the substantial quantity of time spent on personal vehicles. This is also expected to drive the HVAC system demand.

Automotive HVAC market share growth is extremely reliant on vehicle sales. R&D is expected to improve players’ product contribution and increase technological capabilities such as reduction in size and weight. An enhanced standard of living and rising demand for energy proficiency is also expected to drive the demand. This can be attributed to the substantial amount of hard work undertaken by companies and regulatory authorities.
Geographically, the Automotive HVAC market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America automotive HVAC market share witnessed the highest rate in 2017. This is mainly attributed to rising automotive production coupled with increasing penetration of premium vehicles in the region. Government initiatives to control energy consumption are expected to drive eco-friendly technology demand in the U.S. over the forecast period.

Key player across the Automotive HVAC industry are Denso Corporation, Mahle Group, Valeo, Calsonic Kansei Corporation, Keihin Corporation, Johnson Electric Holdings Ltd, Sanden Holdings Corporation, Japan Climate System Corporation, MAHLE GmbH, and Hanon Systems. Competitors in the industry exercise high degree of revolution to provide single solutions to present and potential customers. Automakers continuously assess suppliers based on design capability, price, timeliness of delivery, customer service, product quality, financial viability, innovation, and overall management.

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