2014-01-24 14:38:03 - Automotive HVAC Market: Global Trends & Forecast to 2018 - a new market research report on companiesandmarkets.com
The global automotive HVAC systems market is forecast to grow to a volume of 104.6 million units and a value of $38.2 billion by the end of 2018
The present generation vehicles manufactured are equipped with many features which differ in functions performed, cost and application of the system. These features make the vehicle very comfortable for people to carry out their daily activities. This report deals with five such features - HVAC systems, power windows, power seats, heated seats and sunroofs. The HVAC systems and power windows are commonly found in most of the vehicles these days, whereas the adoption of other cabin comfort features is increasing at a slow pace due to usage of these features mainly in the
luxury vehicle segment.
If there is one region which can be called the land of opportunity for the automobile industry it is Asia. Home to some of the largest automobile producing countries in the world such as China and Japan along with the growing markets like India and South Korea, Asia has been spearheading the automotive industry for the last few years and is expected to continue to lead the path in the near future. The Asian market for automotive HVAC systems and cabin comfort systems combined together is expected to grow at a CAGR of 10.28% over the next five years.
The European region houses some of the most advanced automobile companies like Mercedes Benz, Audi and BMW, who have been employing HVAC and cabin comfort systems in most of their vehicle models, thus pushing the market for these technologies in the region. The market revenue for these two technologies in Europe is expected to reach $24.5 billion in 2018. The European market suffered strong set-backs at the end of last decade, when the economy went under depression. The automobile industry of the region suffered loss of production and sales volume and was rattled by the economic downturn, but the situation has started to improve and the industry has started to show strong vitals, resulting in a slow yet steady growth rate over the next five years. The industry is expected to reach the pre-meltdown levels over the course of these five years and also gain lead over the previous levels.
The Americas market is growing at a much faster rate than its European counterpart and is expected to take the second spot by the end of 2018. The major reason for this being the quick recovery from the economic crisis and growing income levels of people in the region. The region comprises of markets like U.S., which has been at the pinnacle of automotive technology, and Mexico, which is a developing market with demand for low-cost, value for money vehicles. The market for these technologies in the region is expected to be fuelled by various driving forces such as rising demand for luxury vehicles and demand for maximum possible value for the buyer´s money. The market for automotive HVAC systems in the region is expected to grow at a CAGR of 7.12% over the next five years.
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