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Automotive HVAC Market worth $52.53 billion by 2030, growing at a CAGR of 7.52%


automotive hvac market

Automotive HVAC Market – Exclusive Report by 360iResearch

The Global Automotive HVAC Market to grow from USD 29.40 billion in 2022 to USD 52.53 billion by 2030, at a CAGR of 7.52%.

PUNE, MAHARASHTRA, INDIA, November 10, 2023 /EINPresswire.com/ — The “Automotive HVAC Market by Component (Compressor, Expansion Device, Heat Exchanging Equipment), Technology (Automatic HVAC System, Manual HVAC System), Vehicle, Distribution Channel – Global Forecast 2023-2030″ report has been added to 360iResearch.com’s offering.

The Global Automotive HVAC Market to grow from USD 29.40 billion in 2022 to USD 52.53 billion by 2030, at a CAGR of 7.52%.

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Automotive heating, ventilation, and air conditioning (HVAC) is the system that circulates cooled or heated air while lowering humidity to meet the passengers’ and drivers’ optimum temperature requirements. The system also controls the air quality and quantity inside vehicle cabins. The HVAC systems help maintain thermal comfort inside the vehicles by mainly using the principles of convection, radiation, and conduction. The automotive HVAC systems are gaining more traction with increased demand for private & passenger cars, rising disposable income, growing spending on premium and luxurious vehicles, and regulations applicable to climate control for low-emission vehicles. Although maintenance and replacement of HVAC systems are cost-intensive and lead to environmental issues, the improvements in design and technologies used in automotive HVAC increases their usage. Moreover, increasing demand for electric and autonomous vehicles is also expected to support future utilization and R&D efforts in automotive HVAC systems in the coming years.

Distribution Channel: Widening availability of automotive HVAC solution through OEM

The aftermarket is the secondary market, consisting of manufacturing, distribution, retailing, and installation of heating, ventilation, and air conditioning (HVAC) systems in automobiles by OEM to the consumer. Aftermarket manufacturers provide easy-to-install and affordable HVAC systems, allowing installation into older vehicles. OEM allows selling products to another company for relabelling as their own, enabling a manufacturer to boost sales without investing in infrastructure.

Vehicle: Rising usage of HVAC system in the passenger vehicles

The automotive HVAC system is installed in heavy and light commercial vehicles to control air, temperature, humidity, and thermal environment. Passenger cars are equipped with an HVAC system, providing comfort features with thermal controls such as automatic temperature control, fan speed, and fog sensors.

Technology: Significant adoption of manual HVAC system as a cost-effective alternative

The automatic HVAC system regulates automotive cabins’ temperature and moisture through sensors. The sensors collect information and regulate HVAC system operations under different times and climatic conditions. The manual HVAC system provides a cost-effective alternative, offering similar features to budget vehicles’ automatic HVAC systems. The semi-automatic system provides a combination of automatic and manual HVAC systems, offering automatic control over certain operations such as fan speed.

Component: innovations in heat exchanger for enhancing energy efficiency, and improving durability

The automotive compressor is utilized for maintaining refrigerant pressure in the HVAC system by compression of refrigerant gas. The condenser acts as heat-exchanging equipment that removes heat from compressed gas, condensing gas into liquid form. The expansion device restricts refrigerant flow, converting it into a low-pressure mist before transferring it to the evaporator system. The receiver/drier helps to absorb moisture inside the automotive cabin, ensuring that the air entering the vehicle has low humidity levels.

Regional Insights:

The demand and usage of automotive HVAC systems are increasing in the EU, the U.S., and developed parts of Asia-Pacific regions, with consumer spending on passenger cars and a strong presence of market players developing advanced HVAC systems. China, the US, Japan, India, South Korea, Germany, Mexico, and Brazil are the leading automotive manufacturers worldwide with a highly competitive automotive sector. Automakers’ investments towards improving consumer satisfaction while complying with cabin air quality regulations and reducing the weight of vehicles to meet fuel consumption and emission standards provide considerable scope for the market players. In both developed and developing economies, the automotive sector enormously contributes to the economy, necessitating efficient automotive HVAC systems. Moreover, with sustainability becoming the prime focus of countries, HVAC systems are becoming increasingly advanced as new technologies get integrated to make the system more efficient. The significant importance given to the electrification of the automotive sector, encouraging the adoption of electric vehicles, is anticipated to further expand the use of automotive HVAC in the upcoming years.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Automotive HVAC Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive HVAC Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Automotive HVAC Market, highlighting leading vendors and their innovative profiles. These include Air International Thermal Systems, Inc., ASPINA Group, Bergstrom Inc., BorgWarner Inc., Brose Fahrzeugteile SE & Co. KG, Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, ELKE S.r.l., ESTRA Automotive Systems Co., Ltd., Gentherm Incorporated, Global Air, Hanon Systems Co., Ltd., Hitachi Astemo, Ltd., LU-VE Group, MAHLE GmbH, Marelli Holdings Co., Ltd., Mitsubishi Heavy Industries Ltd., OMEGA Environmental Technologies, Red Dot Corporation, Samvardhana Motherson International Limited, Sanden Corporation, SEA Italy, Sensata Technologies, Inc., STMicroelectronics N.V., Subros Limited, Texas Instruments Incorporated, Valeo Group, and Webasto Group.

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Market Segmentation & Coverage:

This research report categorizes the Automotive HVAC Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Compressor, Expansion Device, Heat Exchanging Equipment, and Receiver/Drier. The Heat Exchanging Equipment commanded largest market share of 31.43% in 2022, followed by Compressor.

Based on Technology, market is studied across Automatic HVAC System and Manual HVAC System. The Manual HVAC System commanded largest market share of 59.43% in 2022, followed by Automatic HVAC System.

Based on Vehicle, market is studied across Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Car. The Passenger Car commanded largest market share of 41.59% in 2022, followed by Heavy Commercial Vehicle.

Based on Distribution Channel, market is studied across Aftermarket and OEM. The OEM commanded largest market share of 71.58% in 2022, followed by Aftermarket.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.69% in 2022, followed by Asia-Pacific.

Key Topics Covered:

1. Preface

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Market Insights

6. Automotive HVAC Market, by Component

7. Automotive HVAC Market, by Technology

8. Automotive HVAC Market, by Vehicle

9. Automotive HVAC Market, by Distribution Channel

10. Americas Automotive HVAC Market

11. Asia-Pacific Automotive HVAC Market

12. Europe, Middle East & Africa Automotive HVAC Market

13. Competitive Landscape

14. Competitive Portfolio

15. Appendix

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Automotive HVAC Market?

2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive HVAC Market?

3. What is the competitive strategic window for opportunities in the Automotive HVAC Market?

4. What are the technology trends and regulatory frameworks in the Automotive HVAC Market?

5. What is the market share of the leading vendors in the Automotive HVAC Market?

6. What modes and strategic moves are considered suitable for entering the Automotive HVAC Market?

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Mr. Ketan Rohom
360iResearch
+ +1 530-264-8485
ketan@360iresearch.com

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