Automotive HVAC Market: Global Industry Analysis and Forecast (2024-2030)

Automotive HVAC Market was valued at US$ 61.24 Bn. in 2023 and is expected to reach at US$ 95.48 Bn. in 2030. Global Automotive HVAC Market size is expected to grow at a CAGR of 6.55% through the forecast period.
Automotive HVAC Market Overview:
An automotive heating, ventilation, and air conditioning (HVAC) system is a vehicle which is used to control the internal temperature of the vehicle cabin. It includes three subsystems, namely, heating, cooling, and air conditioning, that work together to provide purified air to the vehicle cabin, ensuring thermal comfort for drivers and passengers. It controls the air temperature, inspects the moisture content in the air, and eliminates excessive humidity from the circulating air. Well-established companies, such as Audi, Mercedes, and BMW, focus on customized and consumer-friendly HVAC systems.To know about the Research Methodology :- Request Free Sample Report

For instance, the BMW 6 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system. Automotive HVAC systems are used for controlling the climate and temperature of the cabin of the vehicle. Heating, ventilation, and air conditioning professionals must stay up-to-date on all industry standards, certifications, and advancements.

Each time a new interior climate control feature becomes standardized across the automotive sector, for example, the technicians who service and maintain those systems in cars, trucks, and vans must reskill and become experts on those updates. As automotive HVAC systems grow increasingly more complex, so too will the set of skills and know-how required to repair and care for them.

The report explores the Global Automotive HVAC Market segments (By Technology, By Application, By Component and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors.

Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2023. The report investigates the Global Automotive HVAC Market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Global Automotive HVAC Market contemporary competitive scenario.
Automotive HVAC Market Dynamics:
The installation of eco-friendly refrigerants such as R744/CO2 in automobiles would not only foster the growth of the automotive HVAC system market but also help in saving the environment. Substitute refrigerants such as R744 and CO2 would increase fuel efficiency and reduce pollution from vehicles, which would benefit the environment. Thus, adoption of eco-friendly refrigerants in automobiles holds a remarkable growth opportunity for the key players operating in the market.

The increasing sales of vehicles and the growing requirement for air conditioning systems under extreme weather conditions across the globe leads to the growth of the Global Automotive HVAC Market. Automotive HVAC systems are widely used due to the increasing demand for enhanced performance, air quality and environmental issues. The rising demand for remote access control systems that assist in enhancing the efficiency of air conditioning and reducing fuel consumption are the factors which leads to the growth of the market during the forecast period. In addition to this, various technological innovations, such as the introduction of energy-efficient and eco-friendly automotive HVAC systems due to the increasing environmental consciousness among the masses, are providing a thrust to the market growth.

HVAC system unit is highly costly to integrate and expensive to repair in case of a failure which is the major restrain which declines the growth of the Global Automotive HVAC Market during the forecast period. The increase in the overall cost of the automobile leads to the installation of HVAC unit in a vehicle. An automobile HVAC unit consists of compressor, condensers, evaporators, and other components.

To keep these components in good working condition, regular maintenance is required, which is significantly expensive. Compressor is the costliest component in the systems and requires proper refrigerant and lubrication levels to reduce the risk of premature compression failure. Thus, high maintenance cost of the overall components of HVAC system is anticipated to hinder the growth of the global automotive HVAC market.

The launch of new HVAC systems with advanced features that assist in demisting windshields, defrosting windows and dehumidifying air, and providing improved comfort to the passengers is boosting the market growth. Other factors which include the increasing demand for electric vehicles (EVs), rising expenditure capacities of consumers and the implementation of various government initiatives to promote energy-efficient systems, are the opportunities which leads to the growth of the Global Automotive HVAC Market during the forecast period.

The augmenting research and developments in the automotive sector across the world are set to enhance the technological capabilities of the market players. These market players are introducing advanced technologies in automotive HVAC to develop new products that impart a competitive edge in the market. Energy efficacy is the other parameter which is driving the growth of the market during the forecast period. Another opportunity which leads to the growth of the market is manufacturers which are using green technologies to develop eco-friendly and energy-efficient automotive HVAC systems are increasing. New emerging markets, emerging consumer demographics, and stringent government regulations would provide growth opportunities for Automotive HVAC market in the coming years.

One of the factors that challenges the automotive HVAC market is the noise generated by these systems inside the car cabin, inducing passenger discomfort. Clattering noises by these systems are produced due to the interactions between HVAC components and airflow. Passive absorbers on HVAC body and ducts are being used by HVAC suppliers on current designs to reduce system noises during its operation, providing comfort inside the car cabin.
Automotive HVAC Market Segment Analysis:
Based on Component, The segment compressor is dominating the market with the highest market share in the year 2023. It is a belt driven pump, which is attached to the engine. The compressor helps in compressing and transferring of refrigerant gas. When the hot compressed gases are introduced on the top of a condenser, they are cooled instantly and after the cooling is complete, they condense and exit from the bottom of the condenser as a high-pressure fluid. The main purpose of an evaporator is to remove the heat from inside the vehicle and dehumidify the environment within it. Pressure regulating devices are meant for controlling the evaporator temperature by regulating the refrigerant pressure and flow into the evaporator. These are the factors which leads to the growth of the Global Automotive HVAC Market.

Based on the Application, The passenger cars segment are expected to grow with the highest CAGR of xx% during the forecast period. The increasing disposable income and the availability of various finance schemes are the main factors which is responsible for the growth of the Global Automotive HVAC Market in passenger segment. Due to better financial schemes and rural demand, there is a rise at healthy pace for the demand of automotive HVAC systems in LCVs. Booming e-commerce and logistics sectors and soaring need for fleets to support last-mile connectivity are also boosting up the growth of the Global Automotive HVAC Market.

Based on Technology, The segment automatic is growing with the highest market share in the year 2023. Because of the low efficiency and complexity, the size of the manual systems segment where users must select temperature and blower settings is also affected which declines over the past years. Burgeoning demand for automatic automotive HVAC systems can be attributed to evolving consumer preferences and increasing demand for luxury vehicles which leads to the growth of the Global Automotive HVAC Market. In addition, technological advancements in HVAC technologies such as automatic air recirculation, automatic temperature controls, and fogging sensors are the factors which boost up the growth of the Global Automotive HVAC Market.
Automotive HVAC Market Regional Insights:
The North America region is expected to witness significant growth at a CAGR of XX% through the forecast period. The rising automotive production coupled with increasing penetration of premium vehicles in the region is the main which boost up the growth of the Global Automotive HVAC Market. Government initiatives to control energy consumption are expected to drive eco-friendly technology demand in the U.S. over the forecast period. Due to improving macroeconomic conditions and increasing vehicle production, leads to the growth of the Global Automotive HVAC Market in this region.

The objective of the report is to present a comprehensive analysis of the Automotive HVAC Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Automotive HVAC Market dynamic, structure by analyzing the market segments and projecting the Automotive HVAC Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive HVAC Market make the report investor’s guide.
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Global Automotive HVAC Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US$ 61.24 Bn.


Forecast Period 2024 to 2030 CAGR:
6.55%
Market Size in 2030:
US$ 95.48 Bn.


 Segments Covered:
by Technology
Manual
Automatic


by Application
Passenger Cars
Heavy Commercial Vehicles (HCVs)
Light Commercial Vehicles (LCVs)


by Component
Evaporator
Compressor
Condenser
Receiver-drier
Expansion Valve
Others



Automotive HVAC Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Automotive HVAC Market, Key Players are
1. Denso Corporation
2. Mahle Group
3. Valeo
4. Hanon Systems
5. Calsonic Kansei Corporation
6. Keihin Corporation
7. Johnson Electric Holdings Ltd
8. Sanden Holdings Corporation
9. Japan Climate System Corporation
10. MAHLE GmbH
11. Brose Fahrzeugteile GmbH & Co. Kg
12. Air International Thermal Systems
13. Hanon Systems
14. Calsonic Kansei
15. Engineered Plastic Components
16. DelStar Technologies
17. Sanden Holdings Corporation
18. Behr GmbH
19. Halla Climate Control Corp.
20. Delphi Automotive
21. Calsonic Kansei
22. Visteon Corp.
23. Sanden Corp.

Frequently Asked Questions:

1] What segments are covered in the Global Automotive HVAC Market report?
Ans. The segments covered in the Global Automotive HVAC Market report are based on Technology, Application and Component.

2] Which region is expected to hold the highest share in the Global Automotive HVAC Market?
Ans. North America region is expected to hold the highest share in the Global Automotive HVAC Market.

3] What is the market size of the Global Automotive HVAC Market by 2030?
Ans. The market size of the Global Automotive HVAC Market by 2030 is expected to reach US$ 95.48 Bn.

4] What is the forecast period for the Global Market?
Ans. The forecast period for the Global  Market is 2024-2030.

5] What was the market size of the Global  Market in 2023?
Ans. The market size of the Global  Market in 2023 was valued at US$ 61.24 Bn.