The global Automotive HVAC Ducts market is expected to witness a market value of US$ 61.19 Billion in 2023 and is expected to accumulate a market value of US$ 114.86 Billion by registering a CAGR of 6.5% in the forecast period 2023 to 2033. The market for Automotive HVAC Ducts market registered a CAGR of 3.1% in the historical period 2018 to 2022. Factors such as required fitment of AC’s in trucks, as well as growing demand for vehicles globally are expected to fuel the growth of the Automotive HVAC Ducts market over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Automotive HVAC Ducts has been flourished. Increasing demand for passenger cars and commercial vehicles in developing countries is one of the major factors that is expected to boost the growth of the automotive HVAC ducts market over the analysis period. Moreover, stringent emission norms are being implemented globally, which in turn is expected to stimulate the market growth during the forecast period.
Additionally, the continuous expansion of automobile industries at a rapid pace globally is a major factor that is escalated the growth of the automotive HVAC market, attributed to the urbanization. The HVAC systems enhances the efficiency of air conditioner that provides comfort to driver as well as passenger. Also, the surge in the automobile production highly demands for the production of automotive HVAC systems, which in turn are likely to fuel the market growth in the near future.
Factors such as an increase in the demand for luxurious vehicles equipped with HVAC systems globally, coupled with the growing investment in research and technological development are expected to accelerate the growth of the automotive HVAC ducts market over the analysis period. In addition, rapid growth in automotive sector highly demands for automotive HVAC systems for comfort, hence, the market players have been focusing on reducing costs for production of automotive HVAC systems with new advanced technologies. These factors are likely to fuel the market demand.
Moreover, the automotive industries have been increasingly becoming technology-oriented with new innovations, in order to produce refrigeration as well as air conditioning compressors, which is also expected to boost the market expansion in the coming time.
Factors including the continually increasing demand for eco-friendly refrigerants, as well as production of cheaper HVAC systems are expected to create lucrative avenues for the market growth. Also, the eco-friendly refrigerants reduce pollution from vehicles, and increase the fuel efficiency. Therefore, the unaffordability of low-income people to buy vehicles equipped with HVAC system demands for the cheap HVAC systems, which in turn is projected to propel the sales of the automotive HVAC ducts in the forthcoming years. Also, the market players have been focusing to use green technologies for developing energy efficient systems, in order to reduce its maintenance cost, which is likely to boost the market growth.
On the regional end, the Automotive HVAC Ducts market in Asia Pacific is expected to account for the maximum share during the analysis period, owing to the factors such as increasing demand for passenger cars and commercial vehicles, and upsurge in disposable income levels, coupled with rapid urbanization. The presence of luxurious cars and growing automotive industry in the region, increasing urbanization and vast population, as well as hot temperature in the region are the major factors that are expected to fuel the regional market growth in the near future. For instance, the Indian government is encouraging investments by foreign investors with programmed courses to enable innovation and development.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the development of Automotive HVAC Ducts are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, Hanon Systems, the supplier of automotive thermal and energy management solutions in March 2022, announced the launch of a new plant in Hubei and China. The company is expected to commence with manufacturing of heating, ventilation, and air conditioning (HVAC) modules for electric vehicles that support automakers.
According to latest research by Future Market Insights, automotive HVAC Ducts market is set to a sound growth during 2023 to 2033. The rising automotive production and HVAC sales are the prominent factors driving the demand for automotive HVAC ducts.
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The changing climate conditions in terms of surge in temperature, pollution level and air quality can be considered as the real mover for the expansion of demand for Automotive HVAC Ducts market. Customers need best quality material in the HVAC systems which is pushing the requirement for efficient ducts with better material.
The upcoming requirement from the customers is guiding the producers to bring customization in the features of ducts for HVAC systems.
Increase in the automobile production, growing urbanization and increasing sales of passenger cars are driving factor for Automotive HVAC Ducts. The wide application of plastic ducts instead of metal ducts is also a foremost factor driving the growth of ducts in the automotive industry.
New introduction of automatic climate control systems in the automobiles and rising customer preference for comfort and safety is driving the growth of automotive HVAC Ducts.
Automotive sales and production around the globe have been impacted by COVID-19-pandemic. This has negatively impacted Automotive HVAC Ducts sales in 2020. However, it is estimated that the market will steadily grow from 2021 onwards.
Passenger car is expected to augment the sales of automotive HVAC Ducts in the coming years. There has been an increase in the trend for the production of passenger cars across the regions which is driving the sales of HVAC Ducts as manufacturers are bringing new technological innovations in the manufacturing of automotive HVAC Ducts systems.
Moreover, there is significant demand of hatchbacks and SUVs which requires lighter ducts. Thus, new SUVs and hatchbacks are driving the demand and sales of HVAC Ducts in the passenger cars segment.
Principal Consultant
East Asia is one of the largest market for the demand of automotive HVAC Ducts. East Asia comprises of leading countries like China where there is increase in the production and sales of motor vehicle in the region. North America is expected to be among the prominent region for due to extensive use of light commercial vehicles.
Latin America is anticipated to have a steady growth due to rising number of manufacturing facilities for the production of passenger and commercial vehicles.
Some of the leading manufacturers of automotive HVAC Ducts include
The leading manufacturers possess a strong manufacturing capabilities and skilled workforce to produce automotive HVAC Duct systems. The companies such as Bolton Plastic Component Ltd strive for innovation through manufacturing techniques and development of cost effective solutions.
Manufacturers do commit for continuous improvement in the products which is the driving factor for growth in their business. Sogefi Group is one of the leading manufacturer in the automotive HVAC ducts systems who primarily focuses excellent product design and development expertise and innovation through its R&D centers as well as production sites across the world.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Automotive HVAC Ducts Market
