Developments in emerging markets of the world have offered additional freedom to various industrial verticals. Automotive sector of the world marketplace is gaining a lot of attention with the upward ratio of growth in the emerging markets, especially the BRICS countries (Brazil, Russia, India, China and South Africa). This progress is visible in the addition of numerous exiting features in today’s vehicles. Cars and other vehicles today are manufactured by keeping functionality and user comfort in mind. Both these factors are pushing the limits of innovation farther, which is leading to technological advancements across the automotive sector. Automotive HVAC system is a prime example of these changes. Vehicular heating, ventilation and air conditioning (HVAC) plays the key role in determining driver comfort and supports other features of the vehicles.
Automotive HVAC Market Overview
Global automotive HVAC market is expected to thrive in the competition and move ahead at a steady pace. Present generation automobile manufacturers are making special efforts to add advanced features in the vehicles that are capable of performing various functions with different prices and applications. HVAC systems and power windows are now a regular feature in today’s vehicles. These features are supported with additional systems including sunroofs, heated seats and power seats. For easy analysis, researchers have segmented the types of systems in this market into two, namely, HVAC systems and cabin comfort systems. While HVAC systems contain heating, ventilation and air conditioning; cabin comfort systems include power seats, power windows, heated windows and sunroofs.
Apart from types of systems, the global automotive HVAC systems market is further segmented based on the types of vehicles, technologies and demand patterns across different geographical regions. Based on geography, the industry is segmented into Asia, America, Europe and rest of the world. The types of vehicles mostly include HCVs, LCVs and passenger cars. Technologies in the industry are divided into two types, namely, automatic and manual technologies. The market is further divided based on the types of components, including heat exchange equipment, receiver, compressor and expansion devices. Based on the segmentation, experts claim the industry to be driven by automatic HVAC systems. Cabin comfort systems segment is expected to be driven by heated seats and sunroofs.
Thanks to increasing demands for HVAC systems and cabin comfort technologies, the automotive HVAC market is expected to grow at a steady compound annual growth rate. Based on the recent market research reports, the industry is expected to become worth more than $35.69 billion by the end of 2018. Cabin comfort systems market on the other hand is expected to become worth $32.87 billion by the same time.