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Automotive HVAC Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4534461
  • Report
  • 70 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Delphi Automotive
  • Denso Corporation
  • Hanon Systems
  • Keihin Corporation
  • Mahle GmbH
  • Sanden
  • MORE
Market Overview

The global automotive HVAC market is expected to grow at a CAGR of around 6%, during the forecast period, 2019-2024.

Some of the major factors driving the growth of the market are higher adoption rate of automatic climate control feature, increase in demand for thermal systems, and usage of more eco-friendly refrigerants are driving the market’s growth.

Asia-Pacific region dominated the automotive HVAC market, followed by North America and Europe, and is expected to witness fast growth rate during the forecast period.

The future of HVAC is expected to witness significant developments, which include electronics and compressor designs. DuPont has developed a new technology in HVAC, which helps in eliminating the temperature-related problems in vehicles. The concern over refrigerant leakage into the atmosphere, which causes hazardous environmental effects, has laid roots for innovations to counter leakages.

The automotive HVAC market is mainly dominated by established players. Some of the major companies operating in the global automotive HVAC market are Delphi Automotive, Denso Corporation, Mitsubishi and Hanon Systems

Scope of the Report

The global automotive HVAC market has been segmented by technology type, vehicle type, and geography.

Key Market Trends

Increasing Production of Automobiles

Passenger cars sales have been increasing across the globe. In 2017, global passenger cars production accounted for 97,302,534 units. China has the largest share for passenger cars followed by the United States, Japan, Germany, South Korea, and India. Improving road infrastructure and rising disposable income of the middle-class group are driving the passenger car market in the developing countries. Competitive pricing of vehicles by auto manufacturers also has created a huge demand for passenger cars in developing countries.

This spike in the automotive industry resulted in growing automobile production and the subsequent demand for features such as the air-conditioner, automatic climate control, dual zone temperature control, etc. Also, the industry is seeing a consumer preference towards SUVs and MPVs which generally have an extra AC setup or vents for the convenience of rear passengers. As a whole, the progressing automotive industry is acting as a major driver for the global automotive HVAC industry.

High growth anticipated in the Asia-Pacific region

Owing to a huge growth in population, as well as economic development in countries, like China, India, Japan, and ASEAN countries, etc., the automotive industry in Asia-Pacific is projected to record growth at a faster pace.

According to a recent study by the International Energy Agency (IEA), passenger car ownership in India is expected to grow by 775%, from 2016 to 2040. The Indian government aims to make automobile manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026. Thus, the growing demand for cars as well as a conducive environment for the automobile industry is expected to boost the ancillary industries, which include HVAC systems.

Also, owing to the increasing luxury car market share, foreign luxury car makers, such as Volkswagen, Volvo, and Audi are planning to step up new investments in different countries of the Asia Pacific region, thereby driving the advanced HVAC systems, which are required for high-end cars. A surge in demand is expected for refrigerated vans, as cold supply chain management is also expected to witness a boost in demand.

Competitive Landscape

The automotive HVAC market is a consolidated market. The top global players account for most of the market share. The major companies in the air-conditioning market include Delphi Automotive, Denso Corporation, Mitsubishi and Hanon Systems. Mergers and acquisitions, partnership with regional HVAC equipment manufacturers as well as establishing and ensuring tie-ups with car manufacturers are some of the dynamics shaping the competitive landscape of this market.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Delphi Automotive
  • Denso Corporation
  • Hanon Systems
  • Keihin Corporation
  • Mahle GmbH
  • Sanden
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Introduction to Market Drivers and Restraints
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Technology Type
5.1.1 Manual/Semi-Automatic
5.1.2 Automatic
5.2 By Vehicle Type
5.2.1 Passenger Vehicles
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Saudi Arabia
5.3.5.4 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 Denso Corporation
6.2.2 Delphi Automotive
6.2.3 Mahle GmbH
6.2.4 Valeo Group
6.2.5 Hanon Systems
6.2.6 Mitsubishi Heavy Industries
6.2.7 Calsonic Kansei Corporation
6.2.8 Sanden
6.2.9 Keihin Corporation
6.2.10 TransAir Manufacturing

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Denso Corporation
  • Delphi Automotive
  • Mahle GmbH
  • Valeo Group
  • Hanon Systems
  • Mitsubishi Heavy Industries
  • Calsonic Kansei Corporation
  • Sanden
  • Keihin Corporation
  • TransAir Manufacturing
Note: Product cover images may vary from those shown
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