Overview and Scope
Automotive HVAC refers to the technology for indoor and automotive ambient comfort, which is known as heating, ventilation, and air conditioning (HVAC). The three subsystems, such as heating, cooling, and air conditioning, work together to ensure that users are provided with clean air through ventilation. It also regulates the temperature of the air, inspects the moisture content of the air, and removes excess humidity from the circulating air. It is used to regulate the temperature and climate of the vehicle.
Sizing and Forecast
The automotive hvac market size has grown strongly in recent years. It will grow from $51.88 billion in 2023 to $56.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to global automotive production, global warming concerns, rise in demand for energy efficacy, rise in demand for commercial vehicles.
The automotive hvac market size is expected to see strong growth in the next few years. It will grow to $77.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising electric and hybrid vehicles, growing autonomous vehicles, emerging markets growth, increasing research and development activities, rising disposable income. Major trends in the forecast period include smart and connected hvac, thermal comfort solutions, cabin sensing and ai, multi-zone hvac, green and eco-friendly hvac:.
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Segmentation & Regional Insights
The automotive hvac market covered in this report is segmented –
1) By Component: Evaporator, Compressor, Condenser, Receiver/Drier, Expansion Device
2) By Technology: Manual, Automatic
3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Light Commercial Vehicle, Heavy Commercial Vehicle
Top Major Players
Denso Manufacturing Tennessee Inc.
Air International Thermal System
Valeo Thermal Systems
Hanon Climate Control Corp
Calsonic Kansei North America Inc.
Asia-Pacific was the largest region in the automotive HVAC market in 2023. The regions covered in the automotive hvac market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for luxury vehicles is expected to propel the growth of the automotive HVAC market going forward. A luxury vehicle is defined as a vehicle equipped with better performance capabilities, lavish interiors, and all the latest safety and technology features. In high-end luxury vehicles, the automotive HVAC system is essential to deliver a thermally comfortable environment for every passenger as per their requirements. For instance, in April 2022, according to the Deccan Herald, an Indian English-language daily newspaper, Lamborghini, an Italy-based manufacturer of luxury sports cars and SUVs, saw a 142% increase in sales from the previous year. As opposed to 26 in 2020–21, the company delivered 63 luxury and sport utility vehicles (SUVs) on Indian roads. Therefore, the increasing demand for luxury vehicles is driving the growth of the automotive HVAC market.
Key Industry Players
Major companies operating in the automotive hvac market include Denso Manufacturing Tennessee Inc., Air International Thermal Systems, Valeo Thermal Systems, Hanon Climate Control Corp., Calsonic Kansei North America Inc., Johnson Electric Holdings Ltd., Sanden Holdings Corporation, Sensata Technologies Inc., Marelli Corporation, OMEGA Environmental Technologies, Delphi Automotive LLP., Visteon Corp., Trans/Air Manufacturing Corp., Toyota Industries Corporation, Xiezhong International Holdings Limited., Mitsubishi Heavy Industries Ltd, Behr GmbH & Co. KG, Subros Limited, Webasto SE, Red Dot Corporation, Eberspaecher Climate Control Systems GmbH & Co. KG, DelStar Technologies Inc., Nippon Seiki Co. Ltd., Keihin North America Inc., Modine Manufacturing Company, Zhejiang Yinlun Machinery Co. Ltd., Bergstrom Inc., MAHLE Behr GmbH & Co. KG, The Keihin Corporation, Eberspächer Group, Gentherm
The automotive hvac market report table of contents includes:
1. Executive Summary
2. Automotive HVAC Market Characteristics
3. Automotive HVAC Market Trends And Strategies
4. Automotive HVAC Market – Macro Economic Scenario
5. Global Automotive HVAC Market Size and Growth
……………………..
31. Global Automotive HVAC Market Competitive Benchmarking
32. Global Automotive HVAC Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive HVAC Market
34. Automotive HVAC Market Future Outlook and Potential Analysis
35. Appendix
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