Automotive Air Conditioning Market Size, Share, Growth Analysis, By Technology (Manual, Automatic), By Vehicle Type(Passenger Vehicle, Commercial Vehicle), By Component(Compressor, Evaporator, Receiver, Condenser), By Distribution Channel(Original Equipment Manufacturer (OEMs), Aftermarket), By Region - Industry Forecast 2024-2031

Global Automotive Air Conditioning Market size was valued at USD 32.2 Billion in 2022 and is poised to grow from USD 34.2 Billion in 2023 to USD 55.05 Billion by 2031, growing at a CAGR of 6.14% in the forecast period (2024-2031).

The long-term growth of the global market is anticipated to be aided by increasing thermal comfort and safety improvements brought about using HVAC systems. It is evident that reduced system size and weight during the coming period will support the market development over the years. The use of HVAC systems in passenger vehicles is increasing due to inexpensive integration of electronics, sensors, and passive weather monitoring. Obviously, vehicle lightning increased power will lead to a greater blend of state-of-the-art comfort and safety features. Player supply chain and technological capabilities are expected to improve due to technological advancements and huge investments in R&D projects. Additionally, low-cost HVSCs are inexpensive. Major manufacturers install state-of-the-art HVAC systems to combat vehicle particles.

Rising global automotive demand, rising consumer incomes and changing lifestyles are expected to drive the global automotive air conditioning market during the forecast period. Rapid industrialization has increased air pollution in many economies. For example, wind turbines, which are of great economic importance, are the result of Beijing’s extreme air pollution. The air in the vehicles is changed with state-of-the-art cooling systems, reducing the risk of airborne pathogens. Use of the product is expected to increase with more penetration over the next seven years.