Automotive HVAC Market in Asia Pacific to grow at CAGR of 9% over the period of 2016-2023

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Automotive HVAC Market Global Industry Analysis
Report, Share, Size, Growth, Price Trends and
Forecast 2015 2022 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Automotive HVAC Market

• HVAC systems have become a global standard for
  the passenger vehicles. Increase in vehicle
  production owing to rising consumer income as
  well as growing vehicles demand is anticipated to
  contribute towards the demand for automotive HVAC
  systems in next few years.
• Furthermore, growing requirement for luxury and
  comfort in the passenger vehicles due to large
  amount of time spent in the vehicles is predicted
  to promote the industry growth trends.
• Factors such as improvement in standards of
  living and growing consumer preference for
  energy-efficient products equipped with HVAC
  technology to improve vehicle performance are
  predicted to contribute towards the growth of the
  automotive HVAC market.
• Automatic systems, contributing about 60 of the
  market share in 2015, is predicted to dominate
  the technology segment by growing at a rapid rate
  of 9.4 over the period of 2016-2023.

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Continued

• Low fuel consumption coupled with a rise in
  comfort level of passengers are few of the
  factors projected to promote the segment growth
  over the coming few years.
• Passenger cars application segment, contributing
  about 60 of the market share, is predicted to
  witness a noticeable growth in the next few years
  due to the rise in passenger vehicles demand,
  luxury automobiles business expansion, and good
  road infrastructure.
• Furthermore, growing electric vehicles trend is
  also expected to propel the application segment
  growth. Light commercial vehicles application
  segment is predicted to grow at a CAGR of 7.9
  over the period of 2016-2023 owing to growing
  customer trend for these vehicles.
• The Europe automotive HVAC market size is
  predicted to grow substantially over the coming
  years primarily due to factors like enhanced
  automobile production and favorable government
  norms. The U.S. market is expected to record a
  CAGR of 7.9 over the period of 2016-2023 owing
  to rise in vehicle production along with
  large-scale use of premium vehicles.

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