Automotive HVAC Controllers Market Growth, Demand & Opportunities

1. 2022 Automotive HVAC Controllers Market Opportunities, Growth, Challenges, Business Trends and Forecast 2030

2. Before plunging severely in 2020 due to the COVID-induced lockdowns and the ensuing financial distress, automotive sales had been increasing steadily across the globe. But, since the lifting of the lockdowns and resumption of manufacturing in the third quarter of 2020, as the first COVID wave waned, vehicle sales have started rising again. Though the 2021 sales might be nowhere near the 2019 numbers, automotive and associated components and parts manufacturers can expect good business. As per P&S Intelligence, the slow but steady surge in vehicle sales will keep propelling the automotive heating, ventilation, and air conditioning (HVAC) controllers market across the world. This is because HVAC systems have become integral to all four-wheelers, be it cars, trucks or buses (mostly luxury ones). With people’s burgeoning disposable income, especially in emerging economies, they have been able to afford cars with added features, such as HVAC systems, power steering and windows, and entertainment units, for quite a while now. Moreover, with the increasing competition in the auto world, vehicle manufacturers are targeting customers with the prospect of more comfort and convenience, with HVAC systems. In temperate regions, including much of North America and Europe, the cold winters create the necessity for heaters, heated windshields, and seats. Similarly, in tropical regions, including South Asia, much of Latin America (LATAM) and all of Africa and Australia, air conditioning inside the vehicle is vital. Thus, with the increasing automotive sales around the world, the demand for HVAC controllers is rising too.

3. Of the two types of such controllers — automatic and manual — the demand for automatic variants is rising fast. Because they are a newer technology, automakers are trying to distinguish themselves by offering advanced systems in their vehicles. Moreover, though these are more expensive compared to manual ones, the rising demand for luxury vehicles is propelling the integration rate of automatic variants. Many people in developing countries purchase luxury vehicles as a show of their social status, thereby driving the demand for automatic automotive HVAC controllers. Such components are integrated in higher numbers in passenger cars than commercial vehicles because in any year, almost 70% of the automobiles produced are passenger cars. Moreover, in the coming years, almost 80% of the cars manufactured will have HVAC systems, which would create a high demand for their controllers. Similarly, the integration rate of such components is also increasing in commercial vehicles. With the growing logistics sector, the sales of trucks are surging. In developed countries, most of the trucks have HVAC systems, a trend that is now also emerging in emerging economies. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/automotive-hvac-controllers-market/report-sample

4. Similarly, with the growing demand for inter- and intra-city transport, luxury buses are being procured by transport agencies in developing and developed countries both. On long journeys, especially in unfavorable weather conditions, HVAC systems become important, which is why an increasing number of luxury buses have them. Even for urban transportation within cities, state and city transportation authorities are deploying air-conditioned buses. For instance, Delhi Transport Corporation will induct the first batch of 1,000 low-floor AC buses in June this year. Thus, as a result of the growing auto sales, Asia-Pacific (APAC) is expected to be the most-lucrative automotive HVAC controllers market in the coming years. Already, APAC accounts for the highest automotive production and sales, which have been pushing the demand for various associated components up. As per the International Energy Agency (IEA), compared to 5 million in 2005, 25 million cars were sold in China in 2009. Similarly, car sales in India grew from 1 million to 4 million during the same period. Thus, as vehicle sales boom, so will the installation rate of automotive HVAC controllers. Get Business Report on Automotive HVAC Controllers Market

5. This study covers 1. Historical and the present size of the Automotive HVAC Controllers Market 2. Historical and the present size of the market segments and understand their comparative future potential 3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 4. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders 5. Major players operating in the market and their service offerings Get more related reports by P&S Intelligence Automotive Gears Market Opportunities & Forecast To 2030 HVAC Market Statistics, Development and Growth 2030

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