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Passenger Vehicle HVAC Market Size, Share Global Analysis Report, 2020–2026
Passenger Vehicle HVAC Market By Type (Manual and Automatic) and By Application (SUV, Sedan, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
According to the report published by Facts & Factors, the global Passenger Vehicle HVAC market size was worth around USD 10,045 million in 2019 and is predicted to grow around USD 17745 million by 2026 with a compound annual growth rate (CAGR) of roughly 9% between 2020 and 2026. The report analyzes the global Passenger Vehicle HVAC market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Passenger Vehicle HVAC market.
The Passenger Vehicle HVAC market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire passenger Vehicle HVAC market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (K Units) and value (USD Million) from FY 2016 – 2026.
This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the Passenger Vehicle HVAC industry. The report analyzes and declares the historical and current trends analysis of the Passenger Vehicle HVAC industry and subsequently recommends the projected trends anticipated to be observed in the Passenger Vehicle HVAC market during the upcoming years.
Key Insights from Primary Research
- According to an interview with industry participants, these HVAC systems are used to provide cooling and heating services to passenger vehicles. This factor has driven the target market’s growth
- Asia Pacific was the leading region in 2018, generating revenue of around USD 5,520 Million
- The target market generated revenue of around USD 9,785 Million in 2018
- Automatic and sedan categories of type and application segments respectively were leading revenue generators in 2018
- The growing demand for taxi and cab services in developing countries such as Asia Pacific region has majorly developed the target market growth
Key Recommendations from Analysts
- As per our analyst, several beneficial factors of HVAC systems such as these systems inspect the moisture content in the air, control the air temperature, as well as eliminate excessive humidity from the circulating air. This has augmented the target market growth
- Target market is anticipated to generate revenue of around USD 17,745 Million in 2026
- Asia Pacific is expected to be the dominant region, generating revenue of around USD 10,395 Million in 2026
- Target market is expected to grow at a CAGR of around 9%
- Automatic and sedan categories of type and application segments are expected to continue their dominance in 2026 as well
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Passenger Vehicle HVAC industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Passenger Vehicle HVAC industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the Passenger Vehicle HVAC market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Passenger Vehicle HVAC industry. The Passenger Vehicle HVAC market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Passenger Vehicle HVAC sector. Key strategic developments in the Passenger Vehicle HVAC market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Passenger Vehicle HVAC market are appropriately highlighted in the report.
Passenger vehicle HVAC systems provide automatic climate control features that have propelled the target market growth. In addition, several other factors such as rising safety concerns as well as increasing demand for thermal systems have boosted the target market growth.
Moreover, the adoption of eco-friendly refrigerants has led to the development of the target market. Nevertheless, the rapid growth of the passenger vehicle market in emerging economies is anticipated to create lucrative growth opportunities for the target market over the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 10,045 Million |
Projected Market Size in 2026 |
USD 17,745 Million |
CAGR Growth Rate |
9% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Hanon Systems, Denso, Valeo, MAHLE Behr, Sanden, Calsonic Kansei, SONGZ Automobile, Keihin, Air International Thermal Systems, Xiezhong International, and others. |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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The Passenger Vehicle HVAC market research report delivers an acute valuation and taxonomy of the Passenger Vehicle HVAC industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Passenger Vehicle HVAC industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Passenger Vehicle HVAC industry is provided for the leading economies of the world.
The Passenger Vehicle HVAC market is segmented based on Type and Application. On the basis of type segmentation, the market is classified into manual and automatic. In terms of Application segmentation, the market is bifurcated into SUV, sedan, and others.
Some of the essential players operating in the Passenger Vehicle HVAC market include
- Hanon Systems
- Denso
- Valeo
- MAHLE Behr
- Sanden
- Calsonic Kansei
- SONGZ Automobile
- Keihin
- Air International Thermal Systems
- Xiezhong International, and others
The taxonomy of the Passenger Vehicle HVAC Market by its scope and segmentation is as follows:
By Type Segmentation Analysis (Customizable)
- Manual
- Automatic
By Application Segmentation Analysis (Customizable)
- SUV
- Sedan
- Others
Regional Segmentation Analysis (Customizable)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table of Content
Industry Major Market Players
- Hanon Systems
- Denso
- Valeo
- MAHLE Behr
- Sanden
- Calsonic Kansei
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