Technological advancements for lowering fuel consumption and economical comfort features are expected to provide new opportunities for the automotive HVAC market.
San Francisco, California (PRWEB) January 26, 2015
Globally, private vehicles are more popular than public vehicles and the increasing amount of time spent on travel will drive the global automotive HVAC market. Automotive HVAC systems allow automobile manufacturers to differentiate their products and increase the luxury quotient by offering greater cabin comfort. Rising demand for comfort during travel will be a key driving force in the market. However, automotive HVACs adversely impact fuel economy and require high maintenance. Environmental and medical concerns also adversely impact market growth.
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Technological advancements for lowering fuel consumption and economical comfort features will offer new opportunities for the automotive HVAC market over the forecast period. The market is segmented on the basis of vehicles, technology and components used. Light commercial vehicles, heavy commercial vehicles and passenger cars are the key vehicle segments. Passenger cars will serve as a key market segment owing to their rising demand. Technologies used in Automotive HVAC systems are automatic and manual. Automatic systems will dominate the market over the coming years. Components used in automotive HVAC systems include: dryers, heat exchangers and compressors.
Asia-Pacific will be the leading market over the next six years due to the presence of a large number of automobile manufacturers in the region, especially in India, Japan and China. However, Asia-Pacific is a price sensitive market as a result of which manufactures opt for Economical Models. Key players in the Automotive HVAC market include Calsonic Kansei Corporation, Denso Corporation, Delphi Automotive PLC and Valeo SA.
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