LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the automotive HVAC system market in the Americas is expected to generate 26.54 million units by 2021, growing at a CAGR of nearly 4%.
This research report titled ‘Automotive HVAC System Market in the Americas 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
In 2016, the US accounted for the largest market volume for the automotive HVAC system market in the Americas followed by Canada, Brazil, and then Mexico. The US will continue to lead the market during the forecast period.
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Technavio’s analysts categorize the automotive HVAC system market in the Americas into three major segments by application. They are:
- Passenger cars
Automotive HVAC system market in the Americas by passenger cars
The sales of the automotive HVAC system market in the Americas in the passenger cars segment is positively correlated with the number of passenger cars sold in the Americas. The increasing focus of OEMs on improving the fuel efficiency, lowering the weight of HVAC systems to reduce the overall weight of the vehicles, and reducing the environmental effects have led to an increase in the demand for HVAC systems.
According to Praveen Kumar, a lead automotive electronics research analyst from Technavio, “There has been an increased trend in the Americas where more passenger cars are now being equipped with automatic HVAC systems. An automatic HVAC system monitors the cabin temperature and automatically selects heating, cooling, or a blend of both.”
Automotive HVAC system market in the Americas by LCVs
The major growth driver for the automotive HVAC systems in the Americas in the LCV segment is the increase in the sales of LCVs and the growing penetration of HVAC systems in the LCV segment across key American countries. In the LCV segment, the penetration of HVAC systems was lower in Brazil and Mexico as compared to the US and Canada in 2016.
“The wider application of LCVs has led to their increased popularity. LCVs such as minivans and panel vans are now widely used for business purposes like mobile canteens and intercity transportation, leading to their increased sales,” says Praveen.
Automotive HVAC system market in the Americas by M&HCVs
The rise in the preference for transporting freight and carrying the diesel through roadways in the Americas is driving the sales of M&HCVs. In addition, an increase in the requirement for efficient logistics in the Americas has driven the sales in the M&HCV segment.
An increase in the sales of M&HCVs in the Americas directly leads to an increase in the market for HVAC systems. In the Americas, there are primarily seven major truck manufacturers of Class 7 and 8 trucks. They are Freightliner/Western Star, International, Hino, Kenworth, Peterbilt, Mack, and Volvo.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Hanon Systems
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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