SELBYVILLE, Del., July 4, 2019 /PRNewswire/ — Revenue for the Automotive HVAC Market is poised to surpass a valuation of USD 25 billion by 2025, says the latest study report from Global Market Insights, Inc. Automatic HVAC systems have a high demand in passenger cars as these systems can monitor numerous cabin air parameters such as humidity and temperature set by driver or system specifications. These systems limit the fresh air inlet to the minimum by recirculating air through the air conditioning unit back to the cabin.
An HVAC system fuel consumption ranges up to three litres for every hundred kilometers depending on driving cycles and climatic conditions. Automatic HVAC systems have been recorded to reduce fuel consumption by 35%, driving the growth of the automotive HVAC market.
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Continuous R&D investments by companies involved in the automotive HVAC market have resulted in the development of eco-friendly systems. Compressors need high power of up to a thousand Watts for their operation. Efforts are being focused on reducing the energy consumption and active time to improve the efficiency of compressors, augmenting technological innovations in the automotive HVAC market. In addition, measures such as replacement of the mechanical expansion valve by an electrochemical valve controlled using a linear stepper motor and decreasing the temperature of airflow running over the evaporator to gain better control over the flow of refrigerant have been proposed. This is projected to contribute towards the market’s growth.
Governments’ efforts and initiatives to control global warming is a major factor fueling the automotive HVAC market. Government regulations laid on fuel emissions are compelling OEMs to integrate eco-friendly systems that decrease the load on the engine, thus reducing emissions. Variable-speed air movers and variable-speed electric compressors will play a significant role in implementing low emission strategies that minimize the time spent in the reheat mode where heat is introduced into the AC system for dehumidification. Moreover, OEMs are switching to CO2 refrigerants as a potential solution to address the increasing environmental impacts of these refrigerants. This will create the need for additional sensors to be mounted in the cabin.
Browse key industry insights spread across 150 pages with 175 market data tables & 23 figures & charts from the report, “Automotive HVAC Market Size By Technology (Automatic, Manual), By Vehicle (Passenger vehicles, LCVs, HCVs), By Component (Compressor, Heat Exchanging Equipment, Expansion Device, Receiver/Drier), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Netherlands, Sweden, Poland, China, India, Japan, Taiwan, South Korea, Thailand, Brazil, Mexico, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025″ in detail along with the table of contents:
Europe is projected to be one of the prominent regions for the growth of the automotive HVAC market owing to the growing production of premium passenger vehicles in the region. The automotive industry in Germany is the most significant contributor to the country’s GDP. In 2017, over 20% of global passenger cars were produced in Germany accounting for over 16 million units. The German automotive industry caters to demands globally and produces the largest number of premium cars. Audi, Mercedes, and BMW are some of the well-established premium brands among automotive OEMs. German OEMs sells over 60% of all premium passenger cars across the world. AC automotive, Audi, BMW, Ford, Iveco, MAN, Mercedes, Neoplan, Volkswagen, Porsche are the most innovative OEM suppliers that strengthen their R&D. This will create a significant demand for thermal management systems, propelling automotive HVAC market growth.
Companies in the automotive HVAC market landscape include Hanon Systems, Mahle Group, DuPont Automotive Systems, Denso Corporation, Johnson Electric, and Valeo, among others. The market is highly consolidated with companies focusing extensively on product differentiation. For instance, Hanon Systems has been investing heavily in expanding its thermal comfort portfolio by integrating innovative solutions with its HVAC systems, including CO2 sensor and high-efficiency blower scrolls, for reduced noise and power consumption. The ultraviolet LED photocatalyst eliminates odor-causing bacteria from the evaporator and absorbed gases from outside the vehicle. In addition, the company offers customized omnifarious HVAC designs to automakers that allow them to enhance the interior cabin design, driving the automotive HVAC market. There are OEMs that are progressively working on improving the acoustic efficiency of components and subsystems.
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Global Automotive HVAC Market Size to exceed $25bn by 2025
The automotive HVAC market is highly consolidated with companies focusing extensively on product differentiation.
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SOURCE Global Market Insights, Inc.