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Automotive HVAC Market Trends That Will Shape the Next Decade: Insights from Innovative Products Expand Automotive Hvac Market Growth
Automotive HVAC
How Large Will the Automotive HVAC Market Size By 2025?
The size of the automotive HVAC market has seen significant expansion in the past few years. It's expected to rise from $55.35 billion in 2024 to $58.65 billion in 2025, at a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this robust growth during the historic period include an increase in global automotive production, concerns about global warming, a surge in demand for energy efficiency, and an increase in commercial vehicle demand.
How Big Is the Automotive HVAC Market Size Expected to Grow by 2029?
Strong expansion is anticipated in the automotive HVAC market in the upcoming years, with a rise to $78.27 billion by 2029 at a CAGR of 7.5%. Factors contributing to this growth in the predicted period include an increase in electric and hybrid vehicles, a boost in autonomous vehicle production, emerging market growth, a rise in research and development initiatives, and an uptick in disposable income. Key trends to look out for in the projected period involve smart and connected HVAC systems, thermal comfort solutions, AI and cabin sensing, multi-zone HVAC, and eco-friendly and green HVAC systems.
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Which Key Market Drivers Powering Automotive HVAC Market Expansion and Growth?
The automotive HVAC market is projected to expand due to rising demand for luxury automobiles. Luxury vehicles are characterized by superior performance, extravagant interiors, and cutting-edge safety and technology features. In these premium cars, the automotive HVAC system plays a crucial role in providing each passenger with their desired thermal comfort. For example, as reported by the Germany-based manufacturing company, BMW Group, in January 2024, there was a 34% increase in the registration of all-electric BMW vehicles in 2023, with a total of 28,723 registrations compared to 2022. Consequently, the growing demand for luxury vehicles is fuelling the expansion of the automotive HVAC market.
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What Long-Term Trends Will Define the Future of the Automotive HVAC Market?
Advancements in products have become a significant trend in the automotive HVAC market. Prominent market players are focusing on creating groundbreaking products using cutting-edge technologies such as automatic climate control to regulate vehicle temperature, eco-friendly techniques to make energy-efficient automotive HVAC systems, and the use of eco-friendly refrigerants among others. For instance, in July 2024, Modine, a USA based manufacturing firm, unveiled the EVantage cabin climate system which is an advanced climate control measure tailored to electric vehicles (EVs) to maximize comfort and energy efficiency. This system employs intelligent sensors and algorithms to observe and modify the cabin temperature and airflow according to real-time data such as passenger preferences, external weather conditions, and vehicle performance. The EVantage system manages HVAC functions effectively, reducing energy use and increasing the vehicle's range while offering a comfortable ride. The inventive features of this system, like pre-conditioning features and personalized climate zones, highlight the contemporary standards of sustainability and user-focused design in modern electric vehicles.
What Are the Emerging Segments in the Automotive HVAC Market?
The 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
Subsegments:
1) By Evaporator: Tube and Fin Evaporator, Plate Evaporator
2) By Compressor: Fixed Displacement Compressor, Variable Displacement Compressor, Electric Compressor
3) By Condenser: Air-Cooled Condenser, Water-Cooled Condenser
4) By Receiver/Drier: Standard Receiver/Drier, Desiccant Receiver/Drier
5) By Expansion Device: Thermal Expansion Valve (TXV), Capillary Tube, Electronic Expansion Valve (EEV)
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Who Are the Global Leaders in the Automotive HVAC Market?
Major companies operating in the automotive hvac market include 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
Which are the Top Profitable Regional Markets for the Automotive HVAC Industry?
Asia-Pacific was the largest region in the automotive HVAC market in 2024. The regions covered in the automotive hvac market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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