Automotive HVAC Market Size Growing at 6.1% CAGR Set to Reach 86,075 Million By 2030
Acumen Research and Consulting recently published report titled “Automotive HVAC Market Forecast, 2022 – 2030”
TOKYO, Feb. 16, 2023 (GLOBE NEWSWIRE) — The Global Automotive HVAC Market Size accounted for USD 51,478 Million in 2021 and is estimated to achieve a market size of USD 86,075 Million by 2030 growing at a CAGR of 6.1% from 2022 to 2030.
Automotive HVAC Market Research Report Highlights and Statistics
- The Global Automotive HVAC Market Size in 2021 stood at USD 51.478 Billion and is set to reach USD 86.1 Billion by 2030, growing at a CAGR of 6.1%
- The demand for Automotive HVAC Systems is expected to increase significantly due to the growing need for enhanced comfort and convenience in vehicles.
- The growth of the electric vehicle market is also expected to drive the demand for HVAC systems that can effectively manage the thermal load of these vehicles.
- The Asia-Pacific region is expected to be the largest market for automotive HVAC systems, driven by the high demand for vehicles in countries such as China, India and countries in SouthEast Asia.
- Some of the key players in the automotive HVAC market include Sanden Holdings Corporation, Denso Corporation, Hanon Systems, Calsonic Kansei Corporation, and Valeo S.A.
Automotive HVAC Market Overview
The Automotive HVAC Market is a dynamic and rapidly growing industry that encompasses a diverse range of innovative technologies and applications. These systems are designed to provide climate control within vehicles, ensuring maximum comfort and convenience for passengers. With the rise in global temperatures and increased awareness of energy-efficiency, the demand for advanced HVAC solutions has surged.
Key applications of automotive HVAC systems include cabin air filtration, air distribution, thermal management, and refrigerant management. These systems employ cutting-edge technologies such as variable refrigerant flow (VRF), micro-channel heat exchangers, and electronic expansion valves to achieve optimal temperature control and energy efficiency.
The integration of advanced features such as automatic climate control, touchscreens, and smartphone connectivity has further fueled the growth of the automotive HVAC market. As the trend towards electric vehicles gathers pace, the demand for HVAC solutions that can effectively manage the thermal load of these vehicles is also increasing.
The automotive HVAC market comprises a host of prominent players, each offering unique and innovative products to meet the demands of an increasingly discerning consumer base. The market is further poised for growth as the demand for HVAC solutions continues to rise in emerging markets such as Asia-Pacific and the Middle East.
Having a diverse range of innovative applications and a commitment to energy-efficiency, the market for Automotive HVAC is set to drive the evolution of climate control systems in vehicles for years to come.
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Automotive HVAC Market Report Coverage:
|Market||Automotive HVAC Market|
|Automotive HVAC Market Size 2021||USD 51,478 Million|
|Automotive HVAC Market Forecast 2030||USD 86,075 Million|
|Automotive HVAC Market CAGR During 2022 – 2030||6.1%|
|Automotive HVAC Market Analysis Period||2018 – 2030|
|Automotive HVAC Market Base Year||2021|
|Automotive HVAC Market Forecast Data||2022 – 2030|
|Segments Covered||By Vehicle Type, By Technology, And By Geography|
|Automotive HVAC Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||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.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Trends in the Automotive HVAC Market
- Electric vehicle integration: The increasing popularity of electric vehicles is driving the demand for HVAC systems that can effectively manage the thermal load of these vehicles.
- Smart HVAC systems: The integration of smart technologies, such as touchscreens, smartphone connectivity, and artificial intelligence, is expected to drive the growth of the HVAC market.
- Increased focus on energy-efficiency: The focus on reducing carbon emissions and improving energy-efficiency is driving the development of advanced HVAC systems that are more energy-efficient.
- Demand for cabin air filtration: The growing awareness of air pollution is driving the demand for advanced cabin air filtration systems.
- VRF technology: The use of variable refrigerant flow (VRF) technology is expected to become more widespread, as this technology allows for optimal temperature control and energy efficiency.
- Increased use of electronic expansion valves: The use of electronic expansion valves is expected to increase, as these valves offer improved energy efficiency and temperature control compared to traditional mechanical valves.
Automotive HVAC Market Dynamics
- Advancements in refrigerant management: The automotive HVAC market is seeing an increase in the development of advanced refrigerant management systems that are more energy-efficient and environmentally friendly.
- Integration of climate control systems: The integration of climate control systems with other vehicle systems, such as the infotainment system, is expected to become more widespread.
- Micro-channel heat exchangers: The use of micro-channel heat exchangers is expected to become more widespread, as these systems are more compact, lighter, and more energy-efficient than traditional heat exchangers.
- Growth of the aftermarket: The aftermarket for automotive HVAC systems is expected to grow, as consumers look to upgrade or replace their existing systems.
- Growing demand for eco-friendly solutions: The demand for eco-friendly HVAC solutions, such as natural refrigerants, is expected to increase as consumers become more environmentally conscious.
- Increased focus on lightweight materials: The use of lightweight materials, such as aluminum and plastic, is expected to increase in the automotive HVAC market as companies look to reduce vehicle weight and improve fuel efficiency.
- Increasing demand for comfort and convenience: The growing demand for comfort and convenience in vehicles is driving the demand for advanced HVAC systems.
Growth Hampering Factors in for Automotive HVAC Market
- Slowdown in the Automobile Sector due to economic downturns like recession and high inflation.
- Challenges associated with natural refrigerants: The challenges associated with natural refrigerants, such as their flammability and high cost, can impact the growth of the market.
- Competition from aftermarket solutions: Competition from aftermarket solutions can limit the growth of the market, as consumers may opt for these cheaper solutions instead of purchasing advanced HVAC systems.
- Supply chain limitations: The limited supply chain for some components can impact the production of HVAC systems, hindering market growth.
- Technical limitations: Technical limitations, such as the size and weight of components, can impact the design and functionality of HVAC systems, hindering market growth.
- Slow adoption of electric vehicles: The slow adoption of electric vehicles can impact the demand for HVAC systems, as these vehicles require different types of HVAC systems compared to conventional vehicles.
- High cost of components: The high cost of HVAC components can make it difficult for consumers to afford advanced systems, which can impact market growth.
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- Passenger Vehicles
Automotive HVAC Market Overview by Region
The Asia-Pacific region’s Automotive HVAC Market share is the highest globally and is rapidly growing, driven by the growth of the automotive industry and a large consumer base in countries such as China and India. The region is also home to many emerging automakers and suppliers, who are investing in the development of advanced HVAC systems.
North America’s automotive HVAC market share is also huge and is driven by the presence of major automakers and a large consumer base. The US is a major contributor to market growth, with a well-established automotive industry and a high demand for advanced HVAC systems.
Europe is another key market for automotive HVAC, driven by the presence of leading automakers and a strong consumer base. The EU’s strict regulations regarding the use of refrigerants, such as the F-gas regulation, have led to an increased demand for alternative refrigerants, driving market growth.
The South American and MEA regions have a smaller automotive HVAC market share but we are anticipating to see significant growth in the coming years.
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Automotive HVAC Market Key Players
The Automotive HVAC Market is very competitive, with a large number of players operating in the market. Some of the key players in the market include Denso Corporation, Hanon Systems, Valeo, Sanden Holdings Corporation, Delphi Technologies, Mahle GmbH, Keihin Corporation, Johnson Controls, Calsonic Kansei North America, Inc., Panasonic Corporation, MAHLE Behr GmbH & Co. KG, Eberspächer Climate Control Systems GmbH & Co. KG, Japan Climate Systems Corporation,Air International Thermal Systems, Climaterics Engineering, BorgWarner Inc., and Delphi Automotive LLP. These companies offer a wide range of automotive HVAC products and solutions, and compete on factors such as technology, quality, and price.
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