Automotive HVAC Market Worth $23.19 Billion By 2023

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Automotive HVAC Market Size, Share and Forecast,
2016 - 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Automotive HVAC Market

• The future of automotive heating, ventilation,
  and AC (HVAC) market is witnessing a positive
  change, with the upgraded living standards of
  consumers, exponentially influencing the growth
  of automobile industry.
• The rising concern of the catastrophic
  environmental effects from car carbon emissions
  is also pushing the automakers to incorporate
  highly customized HVAC systems in the vehicle,
  thereby propelling the market growth.
• Automatic HVAC systems covered more than 60 of
  the overall industry in 2015 and is expected to
  register the highest annual growth rate of 9.4
  over the forecast span.
• The growth prospect can be credited to lower fuel
  consumption and high level of comfort that these
  automated systems provide. Manual systems market
  will exhibit moderate growth owing to their cost
  effectivity.

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Continued

• Passenger cars is the one of the most prominent
  application sectors driving the overall
  automotive HVAC industry. Rapid urbanization
  leading to increasing consumer demand for
  luxurious vehicles such as hybrid or electric
  cars is stimulating the overall market dynamics.
• Passenger cars applications led the global
  revenue in 2015, with a coverage of 60 of the
  total volume. Light commercial vehicles (LCVs)
  are also integrating HVAC systems. It is
  estimated that HVAC market from LCV application
  will grow substantially at a CAGR of 7.9 over
  2016-2023.
• Based on global trends, Europe automotive HVAC
  industry is set to consume 20 of the total
  market over the forecast timeframe, driven by the
  large-scale vehicle production in this region and
  favorable regulatory initiatives to control
  energy consumption.
• Some of the prominent industry participants
  include Denso, Mahle Group, Hanon Systems, and
  Valeo.

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