11 June 2019, Global automotive HVAC controllers market is expected to grow at a CAGR of 4.89% in the upcoming period as the scope and its applications are rising enormously across the globe. HVAC is abbreviated as heating ventilation and air conditioning is an equipment for indoor and automotive ambient ease. Automotive HVAC controllers operate a heating and/or air conditioning system. The system manages the nice environment inside the cabin by monitoring the degree of coolness or hotness. It ensures the comfort of the passengers and drivers and maintains the right amount of conditioned air at a specific temperature.
The factors that are playing a major role in the growth of the market are rising demand for passenger vehicles, rising acceptance of luxury vehicles, and growing requirement of safety, fuel efficiency, and comfort level in the vehicles. However, the complex design of devices may restrain overall market growth in the years to come. Automotive HVAC controller market is segmented based on product type, vehicle type, technology, and region.
LCD interface, IR receiver, BDM interface, touch interface, motor driver, and CAN transceiver are the product types that could be explored in automotive HVAC controllers in the forecast period. Commercial vehicle and a passenger vehicle are the product types that could be explored in automotive HVAC controllers in the forecast period. Passenger vehicle sector accounted for the substantial market share of automotive HVAC controllers and is estimated to continue its dominance in the years to come. The reason behind the growth could be the presence of faster cooling and fuel efficient HVAC systems.
Based on technology, manual and automatic could classify automotive HVAC controllers in the forecast period. Automatic HVAC controller sector accounted for the significant market share of automotive HVAC controllers and is estimated to lead the overall market in the years to come. The reason could be the presence of automatic climate control HVAC system.
Globally, Asia Pacific accounted for the substantial market share of automotive HVAC controllers and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be rising disposable income, the presence of key manufacturers in this region, and the growing demand for passenger vehicles. The developing countries like Inia and China are the major consumers of automotive HVAC controllers in this region.
Europe and North America are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. The key players of the automotive HVAC controllers market are Sensata Technologies, ACDelco, NXP Semiconductors, Microchip Technology, Hanon Systems, and DENSO. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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