Press release
Automotive HVAC Market to Hit USD 95.48 Bn by 2030, Growing at 6.55% CAG
Automotive HVAC Market
The global automotive heating, ventilation, and air conditioning (HVAC) market is experiencing significant growth, driven by increasing vehicle sales and a rising demand for enhanced passenger comfort. As of 2023, the market was valued at approximately USD 61.24 billion and is projected to reach USD 95.48 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.55% during the forecast period.
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
๐น๐๐๐๐๐ ๐ฝ๐๐๐๐๐๐ ๐บ๐๐๐๐: The surge in global vehicle sales has led to a higher demand for HVAC systems, as consumers prioritize comfort and air quality.
๐ป๐๐๐๐๐๐๐๐๐๐๐๐ ๐จ๐ ๐๐๐๐๐๐๐๐๐๐: Innovations such as automatic climate control and eco-friendly refrigerants are propelling market growth.
๐ฌ๐๐๐๐๐๐ ๐พ๐๐๐๐๐๐ ๐ช๐๐๐ ๐๐๐๐๐๐: The need for effective climate control in vehicles across diverse geographies is further boosting the adoption of advanced HVAC systems.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/13181/
๐๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐๐๐จ ๐๐ฃ ๐๐๐๐ฉ๐ฃ๐๐ข
Vietnam's automotive sector is witnessing increased interest from foreign investors, particularly from Japan, South Korea, and Singapore. The country's growing middle class and rising disposable incomes are driving the demand for vehicles equipped with advanced HVAC systems. Notably, ๐๐ข๐ง๐ ๐ซ๐จ๐ฎ๐ฉ ๐๐ง๐ ๐๐ข๐ญ๐ฌ๐ฎ๐๐ข๐ฌ๐ก๐ข ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง have signed a Memorandum of Understanding for comprehensive strategic cooperation, aiming to enhance automotive technologies in the region.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ฃ ๐๐๐๐๐ก๐๐ฃ๐
Thailand serves as a significant hub for automotive manufacturing in Southeast Asia. The country's well-established automotive industry is focusing on integrating advanced HVAC systems to meet both domestic and international demand. The acquisition of ๐๐๐ข๐ก๐ข๐ง ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง's air conditioning business in Thailand by ๐๐๐๐๐ ๐๐ฆ๐๐ underscores the strategic importance of the Thai market in the global HVAC landscape.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐๐ฃ๐๐จ ๐๐ฃ ๐ ๐๐ฅ๐๐ฃ
Japan remains at the forefront of automotive innovation, with a strong emphasis on energy-efficient and eco-friendly HVAC systems. Leading companies like๐๐๐๐๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง and ๐๐๐๐๐ ๐๐ฆ๐๐ are investing heavily in research and development to introduce cutting-edge HVAC technologies. The potential merger discussions between ๐๐ข๐ฌ๐ฌ๐๐ง ๐๐ง๐ ๐๐จ๐ง๐๐ highlight a trend towards consolidation to enhance competitiveness in the global market.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐พ๐ค๐ฃ๐จ๐ค๐ก๐๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐๐ค๐ช๐ฉ๐ ๐๐ค๐ง๐๐
South Korea's automotive industry is characterized by significant investments in HVAC technologies. Companies such as ๐๐๐ง๐จ๐ง ๐๐ฒ๐ฌ๐ญ๐๐ฆ๐ฌ are leading the charge in developing advanced climate control solutions. The acquisition of ๐๐๐ข๐ก๐ข๐ง ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง's air conditioning business in South Korea by ๐๐๐๐๐ ๐๐ฆ๐๐ further emphasizes the ongoing consolidation in the sector.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐๐๐ฃ๐๐๐ฅ๐ค๐ง๐
Singapore, while not a major automotive manufacturer, plays a crucial role as a technology and innovation hub in Southeast Asia. The city-state is focusing on updating its automotive technologies, including HVAC systems, to align with global standards. Collaborations between local research institutions and international automotive companies are fostering advancements in energy-efficient HVAC solutions.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐๐๐จ ๐๐ฃ ๐ฉ๐๐ ๐๐
The United States automotive market is experiencing a growing demand for vehicles equipped with advanced HVAC systems, driven by consumer preferences for comfort and stringent environmental regulations. Companies like ๐๐๐ซ๐ซ๐ข๐๐ซ ๐๐ฅ๐จ๐๐๐ฅ are making strategic acquisitions, such as the $13 billion deal to buy ๐๐ข๐๐ฌ๐ฌ๐ฆ๐๐ง๐ง ๐๐ฅ๐ข๐ฆ๐๐ญ๐ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ, to enhance their HVAC offerings and capitalize on the burgeoning market.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ฃ ๐พ๐๐๐ฃ๐
China's rapid urbanization and increasing vehicle ownership are propelling the demand for sophisticated HVAC systems. Domestic companies are investing in research and development to produce energy-efficient and eco-friendly HVAC solutions, catering to both local and international markets. The country's focus on electric vehicles also presents opportunities for specialized HVAC systems tailored for EVs.
๐ผ๐ช๐ฉ๐ค๐ข๐ค๐ฉ๐๐ซ๐ ๐๐๐ผ๐พ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐๐ฃ๐๐จ ๐๐ฃ ๐๐ช๐ง๐ค๐ฅ๐
Europe's automotive industry is emphasizing sustainability, leading to the adoption of eco-friendly refrigerants and energy-efficient HVAC systems. Companies such as ๐๐จ๐ฌ๐๐ก have made significant acquisitions, including the residential and light commercial HVAC business from ๐๐จ๐ก๐ง๐ฌ๐จ๐ง ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ๐ฌ, to strengthen their position in the market.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/13181/
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฎ ๐๐๐๐๐ฃ๐ค๐ก๐ค๐๐ฎ
Manual
Automatic
According to technology, the automatic category is expanding and will hold the largest market share in 2023. The size of the manual systems market, where users manually choose the temperature and blower settings, has decreased over the past few years due to its low efficiency and complexity. The growing demand for luxury cars and changing consumer preferences are the main causes of the rising demand for automatic automotive HVAC systems, which in turn fuels the expansion of the global automotive HVAC market. Furthermore, the global automotive HVAC market is growing due to technology improvements in HVAC systems such fogging sensors, automatic temperature controls, and automatic air recirculation.
๐๐ฎ ๐ผ๐ฅ๐ฅ๐ก๐๐๐๐ฉ๐๐ค๐ฃ
Passenger Cars
Heavy Commercial Vehicles (HCVs)
Light Commercial Vehicles (LCVs)
According to the application, the passenger car market is anticipated to expand at the fastest rate over the course of the projection year. The primary drivers of the expansion of the global automotive HVAC market in the passenger segment are rising disposable income and the accessibility of different financing options. The demand for automotive HVAC systems in LCVs is growing at a healthy rate as a result of improved financial plans and rural demand. The global automotive HVAC market is expanding because to the booming e-commerce and logistics industries as well as the growing demand for fleets to support last-mile connectivity.
๐๐ฎ ๐พ๐ค๐ข๐ฅ๐ค๐ฃ๐๐ฃ๐ฉ
Evaporator
Compressor
Condenser
Receiver-drier
Expansion Valve
Others
Component-wise, in 2023, the compressor segment is leading the market with the largest market share. The pump is belt-driven and connected to the engine. Refrigerant gas is compressed and transferred with the aid of the compressor. Hot compressed gases are immediately cooled when they are introduced on top of a condenser. Once the cooling process is finished, the gases condense and emerge as a high-pressure fluid from the condenser's bottom. An evaporator's primary function is to remove heat from the car's interior and dehumidify its surroundings. By adjusting the refrigerant pressure and flow into the evaporator, pressure regulating devices are designed to control the evaporator's temperature.
๐๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ฎ๐ซ๐ญ๐ก๐๐ซ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ ๐จ ๐ญ๐จ: https://www.maximizemarketresearch.com/request-sample/13181/
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Denso Corporation
2. Mahle Group
3. Valeo
4. Hanon Systems
5. Calsonic Kansei Corporation
6. Keihin Corporation
7. Johnson Electric Holdings Ltd
8. Sanden Holdings Corporation
9. Japan Climate System Corporation
10. MAHLE GmbH
11. Brose Fahrzeugteile GmbH & Co. Kg
12. Air International Thermal Systems
13. Hanon Systems
14. Calsonic Kansei
15. Engineered Plastic Components
16. DelStar Technologies
17. Sanden Holdings Corporation
18. Behr GmbH
19. Halla Climate Control Corp.
20. Delphi Automotive
21. Calsonic Kansei
22. Visteon Corp.
23. Sanden Corp.
๐ ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐ฎ๐ณ๐ณ:
India Two Wheeler Fuel Injection Systems Market https://www.maximizemarketresearch.com/market-report/india-two-wheeler-fuel-injection-systems-market/20086/
Malaysia Electric Vehicle Market https://www.maximizemarketresearch.com/market-report/malaysia-electric-vehicle-market/65822/
Global Automotive Perimeter Monitoring System Market https://www.maximizemarketresearch.com/market-report/global-automotive-perimeter-monitoring-system-market/74021/
Global Dissolved Gas Analyzer (DGA) Market https://www.maximizemarketresearch.com/market-report/global-dissolved-gas-analyzer-dga-market/35283/
Global Motorcycle Handlebar Control Switch Market https://www.maximizemarketresearch.com/market-report/global-motorcycle-handlebar-control-switch-market/112866/
Global Robot Cars and Trucks Market https://www.maximizemarketresearch.com/market-report/global-robot-cars-and-trucks-market/19646/
Global Undercarriage Components Market https://www.maximizemarketresearch.com/market-report/global-undercarriage-components-market/79380/
Car Safety Market https://www.maximizemarketresearch.com/market-report/global-car-safety-market/34303/
Global Automotive Engine Management System Market https://www.maximizemarketresearch.com/market-report/automotive-engine-management-system-market/42972/
Automotive Wiper Market https://www.maximizemarketresearch.com/market-report/automotive-wiper-market/42504/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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