Global Automotive HVAC global market 2024, Forecast To 2033
24 Jan, 2024
The automotive HVAC market, having demonstrated robust growth, is set to escalate from $51.88 billion in 2023 to $56.29 billion in 2024, showcasing a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period is attributed to global automotive production, concerns about global warming, a rise in demand for energy efficacy, and an increase in demand for commercial vehicles. Anticipating sustained growth, the market is poised to reach $77.05 billion in 2028, maintaining a strong CAGR of 8.2%. Drivers for this growth include the rise of electric and hybrid vehicles, the proliferation of autonomous vehicles, growth in emerging markets, increasing research and development activities, and a rise in disposable income. Noteworthy trends in the forecast period encompass smart and connected HVAC systems, thermal comfort solutions, cabin sensing and AI, multi-zone HVAC, and green and eco-friendly HVAC technologies.
Global Automotive HVAC Market Key Driver
The automotive HVAC market is set to grow with the increasing demand for luxury vehicles. In April 2022, Lamborghini reported a 142% increase in sales, delivering 63 luxury vehicles in India. Luxury vehicles, known for superior performance and advanced features, rely on efficient HVAC systems to provide a comfortable environment for passengers. The market expansion is closely tied to the escalating demand for high-end luxury vehicles in the automotive industry.
Get A Free Sample Of The Global Automotive HVAC Market ReportGlobal Automotive HVAC Market Segments
The global 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
By Geography: The regions covered in the Automotive HVAC market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas 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.
Major Automotive HVAC Industry Players
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
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Automotive HVAC Market Overview
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.
Automotive HVAC Global Market Report 2023 provides data on the global automotive hvac market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive hvac market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.