Global Automotive Refrigerant Market 2018-2022 - Analysis by Application and Region with Key Vendor Profiles

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Dublin, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering.

In recent years, automotive HVAC systems have gone through numerous developments such as transformation from manual to automatic HVAC and further to multi-zone climate control systems.

Automotive HVAC systems are now standard fitments in the passenger car segment, but the commercial vehicle segment was lagging in terms of HVAC penetration. However, this is changing amid growing demand for driver comfort to mitigate risks of accidents. The commercial vehicle segment is expected to witness strong growth in the use of refrigerants during the forecast period.

One trend in the market is development of CO2 refrigerant for automotive HVAC systems. Automotive HVAC systems have become standard fitments in passenger cars, and commercial vehicles are also increasingly adopting such systems to provide driver comfort during long-distance travel. The global automotive refrigerant market has attracted the attention of regulators as refrigerants bear the brunt in terms of ozone layer depletion. The widely-used R-134a refrigerant has a GWP of 1,400, prompting automotive OEMs and HVAC suppliers to shift toward low-GWP refrigerants.According to the report, one driver in the market is higher time-spend inside vehicles pushing demand for cabin comfort features. Long distance travel and rising traffic congestion are the crucial factors leading to increased time-spend inside vehicles. Automotive HVAC systems are standard fitments in passenger cars these days, while commercial vehicles are also increasingly using them. These systems are being adopted at a rapid pace in developing countries such as India, where overall climatic conditions are hot.Further, the report states that one challenge in the market is high cost associated with redesigning automotive HVAC systems. HVAC systems are developed to cater to the need for reduced humidity, better ventilation, and controlled temperature. They are thus manufactured with increased features and functionalities, endowing them with quicker heating and cooling processes. Additionally, HVAC systems are designed to provide pollution-free air flow at preferred temperatures with lower energy consumption. The effective installation of these air conditioners also involves several alterations in the entire wiring system of automobiles.

The market appears to be fragmented and with the presence of several companies including The Linde Group, and Sinochem Group the competitive environment is quite intense. Factors such as the growing popularity of HVAC systems in commercial vehicles and development of CO2 refrigerant for automotive HVAC systems, will provide considerable growth opportunities to automotive refrigerant manufactures.

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Globe Newswire: 09:24 GMT Thursday 6th December 2018

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