- The key vendors in the Global Automotive HVAC Market 2015-2019 are Air International Thermal Systems, Delphi Automotive LLP, Denso Corp., Valeo SA and Visteon Corp.
London, 10 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Automotive HVAC Market 2015-2019. Increasing usage of eco-friendly refrigerants is one of the major trends in the market. HVAC system manufacturers are manufacturing eco-friendly alternatives such as HFO-1234yf for use in automotive HVAC systems because of harmful effects of the currently used refrigerants, i.e., R-134a. The Global Automotive HVAC market is expected to grow at a CAGR of 7.72 percent during the forecast period of 2014-2019.
HVAC systems play an important role in an automobile. They help in maintaining the indoor environment and automotive ambient comfort. Globally, in terms of revenue, demand for automotive HVAC systems is expected to grow at a steady pace. The market is driven by increasing demand from the APAC region and growing demand for automotive thermal systems. Also, growing demand for automobiles combined with growing demand for a comfortable ride and better driving experience is propelling the growth of the market.
“Automotive HVAC systems manufacturers are now shifting their focus from developing manual HVAC systems to automatic HVAC systems,” says Faisal Ghaus, Vice President of TechNavio Research.
“Manufacturers are striving to differentiate their products from those of their competitors by introducing compact systems, improved air quality, and sensors in HVAC systems. Such technologies decrease the operational complexities and help in achieving better customer satisfaction.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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