Automotive HVAC Market Share, Size, Trends, Industry Analysis Report, By Type (Manual HVAC, Automatic HVAC); By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 118
- Format: PDF
- Report ID: PM1437
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global automotive HVAC market was valued at USD 60.01 billion in 2023 and is expected to grow at a CAGR of 6.4% during the forecast period.
Automotive HVAC systems are the air conditioning systems integrated into vehicles, including passenger cars, pickup trucks, and heavy-duty trucks. Similar to conventional air conditioning setups, automotive HVAC functions by cooling air through the conversion of refrigerant into either liquid or gas. The heating aspect of automotive HVAC is distinctive, utilizing the engine-generated heat for the warming process.
Several factors are driving the growth of the automotive HVAC market. The growing need for improved performance, air quality, and environmental considerations drives the automotive HVAC market. The increasing desire for remote access control systems, which contribute to enhanced air conditioning efficiency and reduced fuel consumption, is a key factor fueling market growth in the forecast period.
- For instance, in October 2022, Polestar launched three electric SUV models in the global market. The SUV has an advanced climate control system to keep passengers comfortable on long journeys.
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The rise in R&D investments for developing advanced technological components for automobiles, combined with an escalating desire for luxurious vehicles featuring advanced HVAC systems, is a key driver facilitating growth opportunities for the automotive HVAC market. Furthermore, the automotive sector is increasingly embracing technology-centric approaches, introducing innovations in the production of air conditioning compressors and refrigeration systems, which is anticipated to drive the market during the forecast period.
The Covid-19 has a significant impact on automotive HVAC market. The automotive industry experienced a significant drop in both vehicle production and sales during the COVID-19 pandemic. Lockdowns implemented in response to the pandemic were critical in impeding global economic growth. These restrictions also had a significant impact on the supply chains of components and raw materials used in the automotive HVAC industry.
Major industry players, including automotive manufacturers in the United States, India, and Japan, as well as regions such as Europe, had to suspend operations. This suspension significantly slowed production rates in the automotive industry. Several original equipment manufacturers (OEMs) have been actively implementing various strategies to mitigate the impact of COVID-19 on their revenue generation in response to these challenges.
The continued research and advancements in the automotive sector are poised to promote the technological skills of industry participants. These entities are incorporating advanced technologies into automotive HVAC systems to create innovative products that offer a competitive advantage in the market. Additionally, energy efficiency stands out as an essential factor driving the growth of HVAC systems.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Automotive HVAC Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
Industry Dynamics
- Growth Drivers
- Rise in the automotive production will drive the growth of the automotive HVAC market
Increase in the automobile production will facilitate the growth of the automotive HVAC market. As global vehicle demand rises, particularly in emerging markets, automotive manufacturers are increasingly incorporating advanced HVAC systems into their vehicles to improve driver and passenger comfort. Enhancing automotive production not only increases the number of vehicles on the road but also increases the demand for advanced climate control solutions.
Consumers are becoming more cautious, seeking enhanced comfort and customized climate settings in their vehicles. This development is driving innovation in the automotive HVAC sector as manufacturers strive to develop energy-efficient and technologically advanced systems, fueling market growth. The surge in automotive production is a driving force behind the automotive HVAC market's robust expansion.
Report Segmentation
The market is primarily segmented based on type, end-user, and region.
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By Type |
By End-Use |
By Region |
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By Type Analysis
- The automatic HVAC segment accounted for the largest revenue share in 2022
In 2022, the automatic HVAC segment accounted for the largest revenue share. The growing interest in automated automotive HVAC systems is being driven by changing consumer preferences and a growing desire for luxury vehicles, which is fueling the growth of the market. Furthermore, advancements in HVAC technologies, such as fogging sensors, automatic temperature controls, and automatic air recirculation driving the growth of the Automotive HVAC Market.
Manual HVAC systems allow users to adjust temperature settings, fan speeds, and airflow direction based on their personal preferences and comfort levels. This system is for those who prefer direct control over the interior climate of their vehicle, allowing them to fine-tune the thermal comfort inside.
By End-Use Analysis
- The passenger cars segment accounted for the highest market share during the forecast period
The passenger cars segment accounted for the highest market share during the forecast period. Because of rising disposable income and the availability of various financing options. Automotive HVAC system demand in Light Commercial Vehicles (LCVs) is increasing significantly, owing to improved financial options and increased demand in rural areas.
These systems play a crucial role in controlling the interior temperature, ensuring proper air circulation, and regulating the humidity in the passenger compartment. Manufacturers in the automotive HVAC market aim to improve the efficiency, energy sustainability, and convenience of these systems to change consumer demands in the passenger car segment.
Regional Insights
- Asia Pacific is accounted for the largest market share in 2022
Asia Pacific is accounted for the largest market share in the automotive HVAC market. Because of the presence of major automotive manufacturers, extensive vehicle production, and rising demand for vehicles in emerging economies such as India, South Korea, and China, the Asia-Pacific market is poised for significant growth. Government initiatives to revitalize the automotive industry are expected to drive market growth in the forecast period.
North America is anticipated for the fastest growth in the automotive HVAC market, owing to enhanced macroeconomic conditions and a surge in automobile production within the region. Furthermore, rising disposable income in the United States and rising demand for luxury vehicles are expected to drive the expansion of the market during the forecast period.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- Air International Thermal Systems
- Brose Fahrzeugteile GmbH & Co. Kg
- Delphi Automotive Plc
- Johnson Electric Holdings Ltd.
- Mahle Behr GmbH
- Sanden Corporation
- Sensata Technologies, Inc.
- Valeo S.A.
- Visteon Corporation
- Xiezhong International Holdings Ltd.
Recent Developments
- In November 2021, Hanon System recently launched two new facilities in Hungary an advanced greenfield production plant in Pécs and an expanded building in Retags. The Pécs facility boasts 22,464 square meters of manufacturing space, housing advanced equipment such as forming, brazing, welding, and bending machinery. It also features assembly lines and testing facilities dedicated to automotive air conditioning (A/C) lines.
- In August 2021, Valeo has introduced an innovative heat pump that derives two-thirds of its energy from the surrounding air, minimizing reliance on onboard batteries. This system, utilizing a natural refrigerant, enables electric vehicles (EVs) equipped with the technology to extend their range by up to 30% at temperatures as low as -15°C, surpassing the performance of traditional heating systems.
Automotive HVAC Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 63.79 billion |
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Revenue forecast in 2032 |
USD 105.05 billion |
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CAGR |
6.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Type, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation |
Quality Assured
We strive to offer our clients the finest in market research with the most reliable and accurate research findings. We use industry-standard methodologies to offer a comprehensive and authentic analysis of the Automotive HVAC Market. Besides, we have stringent data-quality checks in place to enable data-driven decision-making for you.
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FAQ's
The key companies in Automotive HVAC Market are Air International Thermal Systems, Brose Fahrzeugteile GmbH & Co. Kg, Delphi Automotive Plc
Automotive HVAC Market is expected to grow at a CAGR of 6.4% during the forecast period.
The key segments covered type, end-user, and region.
The key driving factors in Automotive HVAC Market are Rise in the automotive production will drive the growth of the automotive HVAC market
The global coronary stent market size is expected to reach USD 12.25 billion by 2032
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