| Label | Passenger Car | Commercial Vehicle |
|---|---|---|
| 2017 | 921.7 USD Mn | 125.4 USD Mn |
| 2018 | 944.8 USD Mn | 130.9 USD Mn |
| 2019 | 968.8 USD Mn | 136.7 USD Mn |
| 2020 | 995.5 USD Mn | 143.1 USD Mn |
| 2021 | 1024.8 USD Mn | 150.1 USD Mn |
| 2022 | 1055.8 USD Mn | 157.6 USD Mn |
| 2023 | 1092.5 USD Mn | 166.3 USD Mn |
| 2024 | 1130.5 USD Mn | 175.5 USD Mn |
| 2025 | 1169.9 USD Mn | 185.2 USD Mn |
Data Source: Wantstats Repository
passenger car segment accounted for the larger market share in 2018, this market is expected to reach USD 1169.90 Million in 2025 from USD 944.80 Million in 2018. This market is projected to grow at a CAGR of 3.19% during the forecast period from 2019 - 2025. However, commercial vehicle segment is the fastest growing market, which is expected to grow at a CAGR of 5.19% during the forecast period 2019 - 2025.
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Sales Leader, Bamberg
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Account and Business Manager, EFS-Holland BV
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Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
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