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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-marketThe application sector involves Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and passenger cars.
This is mainly because of the increasing demands for passenger vehicles along with the rising sales of luxury vehicles globally.
