The global automotive HVAC market is segmented into vehicle type, technology and region. The global automotive HVAC market segmentation on the basis of vehicle type is further divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The global automotive HVAC market is bifurcated into automatic and manual on the basis of technology. Region based segmentation of the global automotive HVAC market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
In the recent times there has been a marked improvement in technology coupled with interests in R&D activities which have upgraded offering and innovative capabilities of the players operating in this market. Furthermore, there has been an increase in the adoption of HVAC units in passenger vehicles owing to the coordination of hardware, sensors, and computerized atmosphere control highlights at a lesser expense. It has turned into a basic piece of passenger vehicles offering different solace highlights to buyers, subsequently impacting their purchasing inclinations. It keeps up inward temperature of vehicle lodge and offers an assortment of warm control highlights, for example, misting sensors, programmed temperature control and fan speed, among others.
In all the changing lifestyle and spending patterns due to expanding salaries along with the transitions in the ecological conditions will push the development of the market during the coming time. There is a growing need for passenger vehicles and so is the requirement for progressively sumptuous and comfort travel alternatives. Considering these factors, it is expected that the global automotive HVAC market will reach a market size of USD 16.5 billion by 2026, expanding at a CAGR of 8.5% during the forecast period.
Here are some more points to help explain about the global automotive HVAC market:
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