Automotive & Transportation Industry Automotive HVAC Market

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Automotive HVAC Market Share, Size, Analysis, Growth, Trends
and Forecasts to 2024 | Hexa Research
" The global automotive HVAC market size is expected
to increase significantly by 2024 on account of
growing middle-class population and per capita
income levels."
The global Market for Automotive HVAC (Heating, Ventilating, and Air Conditioning) was estimated at USD 12
billion in 2015 and is anticipated to grow at a CAGR of over 8 % over the forecast period (from 2016 to 2024).
The growing production of the passenger vehicles along with the rising income levels is projected to augment
the global market growth over the next few years.
Improved lifestyles and rising customer awareness about the energy-efficient products are projected to
contribute towards the automotive HVAC market growth. Various technological improvements and innovations
for cost-effective and efficient products are also driving the demands extensively. Negative impac t on the
economy of automobile fuel is likely to hinder the market growth; however, the effects of this restraint are said
to decrease in the long term. The global HVAC market is categorized as applications, technologies, and regions.
The application sector involves Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and
passenger cars. The passenger cars sector dominated the market in 2015 accounting for the revenue share of
over 60 %. This is mainly because of the increasing demands for passenger vehicles along with the rising sales of
luxury vehicles globally. Demands in the LCV sector is anticipated to grow at a CAGR of 8 % during the
estimated years.
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-hvac-market
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