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Automotive HVAC Market Share, Size,Growth, Key Players,
Research and Forecasts to 2024 | Hexa Research
“ Automotive HVAC Market To Witness Growth At 8% CAGR Till 2024”
29 November 2018
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 impact 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
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-hvac-market
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
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