Press release
Automotive Climate Control Market Size To Hit US$ 14.3 Billion by 2028 | CAGR 5.9%
Automotive Climate Control Market
Report Highlights
How big is the automotive climate control market?
The global automotive climate control market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What is automotive climate control?
Automotive climate control is an incorporated heating, ventilation, and air conditioning (HVAC) system that maintains the internal temperature of an automobile. It consists of a compressor that circulates the refrigerant and compresses the vapors, an evaporator to boil the refrigerant and absorb the heat, and a condenser to liquefy the refrigerant and reduce the temperature of the ambient air. Automotive climate control functions manually or automatically to maintain a comfortable temperature inside the cabin and provide thermal comfort through adequate ventilation. As a result, these systems are frequently used in passenger vehicles as well as various commercial vehicles.
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What are the growth prospects and trends in the automotive climate control industry?
The expanding automotive industry has primarily augmented the growth of the market. The escalating demand for luxury vehicles with efficient automotive climate control systems and the growing installation of manual products variants in medium- and low-budget vehicles are driving the market for automotive climate control systems.
Furthermore, the rapid development of environment-friendly refrigerants to minimize carbon emission levels has also bolstered product demand in the hybrid and electric vehicle (H/EV) sector. Additionally, the rising integration of novel automobile sensors that automatically modify the cabin temperature, demystify windshields, and dehumidify the airis expected to further drive the global market for automotive climate control systems in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
Automatic
Manual
Breakup by Component:
Condenser
Compressor
Relays and Control Valves
Evaporators and Thermostats
Drier/Receiver
Others
Breakup by Vehicle Type:
Passenger Cars
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Breakup by Distribution Channel:
OEMs
Aftermarket
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Air International Thermal Systems
Calsonic Kansei Corporation
Denso Corporation
Eberspächer Group
Hanon Systems
Japanese Climate Systems Corporation
Keihin Corporation, Mahle GmbH
Sanden Holdings Corporation
Subros Limited
Valeo SA Ltd.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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