According to Custom Market Insights (CMI), The Global Automotive HVAC Market size was estimated at USD 16.35 Billion in 2021 and is expected to reach USD 18.10 billion in 2022 and is expected to hit around USD 32.10 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 6.75% from 2022 to 2030.
Our recently published report, “Automotive HVAC Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.
Automotive HVAC Market: Overview
The HVAC is a small, versatile system that enables air circulation in car cabins by using a number of parts including fans, thermal exchangers, filters, etc. Due to rising passenger demand for comfort features including high-quality air conditioners, infotainment systems, noise-free systems, etc., the market will expand at a modest rate in the next years. As passenger cars have evolved, producers of light commercial vehicles and big trucks are increasingly integrating HVAC systems into their products. According to the interior components of the vehicle, various HVAC providers offer various system designs, which will determine the effect of prospective design modifications on system performance.
Browse the full “Automotive HVAC Market Size, Trends and Insights By Technology (Automatic, Manual), By Vehicle Type (Passengers Cars, Commercial Vehicles, Electric Vehicles), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/automotive-hvac-market/
Growth Factors
The global need for air conditioning systems in adverse weather conditions and rising auto sales both contribute to the expansion of the global Automotive HVAC market. Due to the rising need for better performance, air quality, and environmental concerns, automotive HVAC systems are increasingly used.
The factors driving the market expansion during the projected period include the increased demand for remote access control systems that aid in improving air conditioning efficiency and lowering fuel usage. A further factor driving market expansion is the adoption of energy-saving and environmentally friendly car HVAC systems in response to rising environmental consciousness among the general public.
The market is expanding as a result of the introduction of new HVAC systems with cutting-edge technologies that help demist windshields, defrost windows, and dehumidify air while improving passenger comfort. Other factors that contribute to the expansion of the global automotive HVAC market over the course of the projected period include increased consumer spending power, expanding demand for Electric Vehicles (EVs), and the adoption of several government programs to support energy-efficient systems.
Additionally, it is anticipated that the global expansion of research and development in the automotive industry would strengthen the technological expertise of the market’s competitors. In order to create new goods that provide them a competitive edge in the industry, these market players are implementing cutting-edge technology in automotive HVAC. Another factor fueling the market’s expansion throughout the projection period is energy efficacy.
Manufacturers who use green technologies to create eco-friendly and energy-efficient vehicle HVAC systems are growing, which is another potential driving the market’s expansion. In the upcoming years, the Automotive HVAC industry will have development prospects due to new expanding markets, changing customer demographics, and strict regulatory restrictions.
Segmental Overview
The market for automotive HVAC is segmented into technology and vehicle type. According to the technology, the automatic category is expected to increase at the quickest rate. Due to the rising demand for automated automotive HVAC systems, which is a result of changing customer tastes and a rise in the popularity of premium automobiles, the automatic category is leading the global automotive HVAC market. The development of HVAC technologies like automated air recirculation, automatic temperature controls, and fogging sensors, among others, is a contributing element to the global automotive HVAC market’s expansion.
The global market is divided into passenger cars, commercial vehicles, and electric vehicles depending on the manner of vehicle. The primary drivers of the expansion of the global automotive HVAC market in the passenger segment are the rising disposable income and the accessibility of various financing options. Moreover, Swashplate compressors are popular for usage in passenger automobiles due to their low cost and high efficiency. These options are often chosen by HVAC system makers, which broadens the market.
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Regional Overview
The biggest market share of the total market was held by the Asia-Pacific in the automotive HVAC industry. A considerable portion of the demand for these systems comes from China, one of the biggest markets. Governmental efforts and support to revitalize the automobile sector in nations like China and India also contribute to the expansion of the industry. A further factor in the expansion of the industry in the area is the rising demand for passenger cars coming from India as a result of rising living standards. High-end automobiles with comparable comfort amenities are more popular with consumers. Additionally, nations like Thailand and Malaysia are experiencing an increase in the manufacture of vehicles by multinational firms.
Competitive Landscape
The players have implemented various strategies to expand in the global automotive HVAC market. The study contains a thorough competitive analysis of the major automotive HVAC market participants and information on their company overviews, recent developments, and vital business strategies.
Prominent Players
- DENSO Corporation
- MAHLE GmbH
- Valeo Group
- Johnson Electric Holdings Ltd
- Sanden Holdings Corporation
- Japan Climate System Corporation
- Brose Fahrzeugteile GmbH & Co. Kg
- Air International Thermal Systems
- Hanon Systems Corp.
- Marelli Corporation
- Valeo
- Calsonic Kansei Corporation
- Keihin Corporation
- Calsonic Kansei
- Engineered Plastic Components
- DelStar Technologies
- Sanden Holdings Corporation
- Behr GmbH
Table of Contents: https://www.custommarketinsights.com/report/automotive-hvac-market/#table-of-contents
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