Press release
Automotive HVAC Market Expands: Size and Share Surge (2022-2030)
● The global automotive HVAC market size is projected to expand to USD 86,075 million by 2030, growing at a CAGR of 6.1% from 2022 to 2030.
● The Asia-Pacific region accounted for over 44.8% of the market share in 2021.
● North America is expected to witness the fastest CAGR during the forecast period.
● Passenger vehicles segment dominated the market with over 60% share in 2021.
● The automatic technology category engaged more than 64.2% of the total market share.
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Automotive HVAC Market Overview and Analysis:
Automotive HVAC systems are evolving with the integration of advanced technologies and eco-friendly refrigerants. The market is driven by the rising demand for passenger vehicles, increasing disposable income, and a growing preference for luxurious and comfortable travel. The development of innovative and eco-friendly HVAC solutions is also propelling the market growth.
Latest Automotive HVAC Market Trends and Innovations
The automotive HVAC market is witnessing a number of trends and innovations, driven by the increasing demand for comfort and safety in vehicles, the growth of the electric vehicle market, and the adoption of environmentally friendly HVAC systems.
● Surge in electric vehicle sales: Electric vehicles are becoming increasingly popular, and this is driving the demand for automotive HVAC systems. Electric vehicles do not have a traditional internal combustion engine, so they rely on an HVAC system to provide heat and air conditioning. As a result, electric vehicle HVAC systems must be more efficient and compact than traditional HVAC systems.
● Technological advancements: Technological advancements are leading to the development of more efficient, compact, and eco-friendly HVAC systems. For example, new technologies such as variable refrigerant flow (VRF) systems and heat pump technology are making it possible to create HVAC systems that are more efficient and use less energy.
● Adoption of automatic temperature control features and autonomous control functionalities: Automatic temperature control features and autonomous control functionalities are trending in the automotive HVAC market. These features allow drivers to set a desired temperature and the HVAC system will automatically adjust to maintain that temperature. This can help to improve comfort and convenience for drivers and passengers.
Major Growth Drivers of the Automotive HVAC Market
The growth of the automotive HVAC market is being driven by a number of factors, including:
● Rising need for comfort and safety in vehicles: Drivers and passengers are increasingly demanding comfortable and safe vehicles. HVAC systems play an important role in providing comfort and safety by regulating the temperature and air quality in the cabin.
● Increase in automobile production: The global automobile production is expected to grow from 97.2 million units in 2021 to 110.5 million units in 2026. This growth is expected to drive the demand for automotive HVAC systems.
● Growing demand for luxury automobiles: Luxury automobiles typically have more advanced HVAC systems than non-luxury automobiles. The growing demand for luxury automobiles is expected to drive the demand for automotive HVAC systems.
● Expansion of the electric vehicle market: The electric vehicle market is growing rapidly, and this is expected to drive the demand for automotive HVAC systems. Electric vehicles do not have a traditional internal combustion engine, so they rely on an HVAC system to provide heat and air conditioning.
● Adoption of environmentally friendly HVAC systems: Consumers are increasingly demanding environmentally friendly products. This is driving the adoption of environmentally friendly HVAC systems in vehicles.
Key Challenges Facing the Automotive HVAC Industry
The automotive HVAC industry faces a number of challenges, including:
● High maintenance costs: Automotive HVAC systems can be expensive to maintain. This is due to the fact that HVAC systems typically contain a number of complex components that can wear out over time.
● Discomfort caused by excessive noise: Automotive HVAC systems can sometimes produce excessive noise. This can be a problem for drivers and passengers, especially on long road trips.
● Environmental impact of refrigerants: Refrigerants are used in automotive HVAC systems to cool the air. Some refrigerants can have a negative impact on the environment.
● Regulatory hurdles: The automotive HVAC industry is subject to a number of regulatory hurdles. These hurdles can make it difficult for companies to bring new products to market.
● Need for continuous innovation: The automotive HVAC industry is constantly evolving. Companies need to continuously innovate in order to stay competitive.
Market Segmentation Insights:
● By Vehicle Type:
○ Passenger Vehicles
○ Light Commercial Vehicles
○ Heavy Commercial Vehicles
● By Technology:
○ Automatic
○ Manual
Overview by Region of the Automotive HVAC Market:
Asia-Pacific dominates the market, attributed to the presence of key automotive manufacturers and a large consumer base. North America and Europe are also significant markets, driven by technological advancements and stringent climate-control regulations.
Automotive HVAC Market Table of Content:
CHAPTER 1. Industry Overview of Automotive HVAC Market
CHAPTER 2. Research Approach
CHAPTER 3. Market Dynamics And Competition Analysis
CHAPTER 4. Automotive HVAC Market By Vehicle Type
CHAPTER 5. Automotive HVAC Market By Technology
CHAPTER 6. North America Automotive HVAC Market By Country
CHAPTER 7. Europe Automotive HVAC Market By Country
CHAPTER 8. Asia Pacific Automotive HVAC Market By Country
CHAPTER 9. Latin America Automotive HVAC Market By Country
CHAPTER 10. Middle East & Africa Automotive HVAC Market By Country
CHAPTER 11. Player Analysis Of Automotive HVAC Market
CHAPTER 12. Company Profile
Key Players
Valeo Group, Hanon Systems, Brose Fahrzeugteile GmbH & Co. Kg, Air International Thermal Systems, Sanden Holdings Corporation, Calsonic Kansei, DelStar Technologies, Engineered Plastic Components, Denso Corporation, Mahle Behr GmbH, Sensata Technologies, Japan Climate Systems Corporation, and Johnson Electric.
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