USD 17.95 billion
Automotive HVAC System Market Size, Share, Growth Analysis, By Technology(Automatic, Manual), By Vehicle type(Passenger Car, Commercial Vehicle, Electric Vehicle), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2061 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
62
|Figures:
77
Automotive HVAC System Market Insights
Global Automotive HVAC System Market size was valued at USD 17.95 billion in 2022 and is poised to grow from USD 19.15 billion in 2023 to USD 32.18 billion by 2031, growing at a CAGR of 6.70% in the forecast period (2024-2031).
The Global Automotive HVAC (Heating, Ventilation, and Air Conditioning) System Market has been a critical component of the automotive industry, ensuring passenger comfort and safety. This market encompasses the production and sales of HVAC systems for various types of vehicles, including passenger cars, commercial vehicles, and trucks. The automotive HVAC system market has experienced significant growth over the years, driven by factors such as increasing consumer demand for enhanced driving experiences, rising awareness of cabin air quality, and advancements in technology. These systems not only provide comfortable interior temperatures but also contribute to defogging and defrosting functions, improving visibility and safety. One key trend within this market is the move towards more eco-friendly and energy-efficient HVAC solutions. Manufacturers are incorporating innovative technologies like automatic temperature controls, multi-zone climate settings, and smart sensors to optimize energy consumption and reduce environmental impact. Moreover, the integration of these systems with vehicle connectivity and infotainment systems has become more prevalent, offering users greater control and customization options.
US Automotive HVAC System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger Car
Fastest Growth
Electric Vehicle
Growth Rate
6.70% CAGR
Global Automotive HVAC System Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive HVAC System Market Segmental Analysis
The Global Automotive HVAC System Market is segmented on the basis of Technology, Vehicle type, Component and region. By Technology, the market is segmented into Automatic, Manual. By Vehicle type, the market is segmented into Passenger Car, Commercial Vehicle, Electric Vehicle. By Component, the market is segmented into Evaporator, Compressor, Condenser, Receiver-drier, Expansion Valve, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Automotive HVAC System Market Analysis By Technology
In the Global Automotive HVAC System Market, Automatic HVAC systems dominate the market. These systems are designed to regulate the temperature, air distribution, and air quality within a vehicle automatically, without requiring constant manual adjustments from the driver or passengers. These systems typically feature sensors that detect interior and exterior conditions and adjust the HVAC settings accordingly. Automatic systems provide convenience and comfort for occupants and are often a standard feature in many modern vehicles.
On the other hand, Manual HVAC systems are the fastest growing segment. These systems allow drivers and passengers to manually control the temperature, fan speed, and air distribution within the vehicle. These systems are typically operated through physical knobs, buttons, or switches on the dashboard. While automatic systems have become more prevalent, especially in higher-end vehicles, there is still a market for manual systems, especially in entry-level or budget-conscious vehicles.
Automotive HVAC System Market Analysis By Vehicle type
Passenger cars have been a dominant segment in the global automotive HVAC system market. This is due to the widespread use of HVAC systems in personal vehicles to provide comfort for both drivers and passengers. Consumers often prioritize air conditioning and heating features when choosing a passenger car, especially in regions with extreme climates.
On the other hand, Electric vehicles have been one of the fastest-growing segments in the automotive industry as a whole, and this trend is likely to extend to the automotive HVAC system market. As the adoption of electric vehicles continues to increase, so does the demand for efficient HVAC systems in these vehicles. Proper heating and cooling are crucial for maintaining battery performance and maximizing driving range in EVs. Manufacturers are also focusing on developing HVAC systems that minimize energy consumption, contributing to the overall efficiency of electric vehicles.
Global Automotive HVAC System Market By Vehicle Type ($ Bn)
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Automotive HVAC System Market Regional Insights
The global Automotive HVAC System Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The APAC region has been a dominant player in the automotive industry for years, including the HVAC system market. This can be attributed to several factors, including the large population, increasing urbanization, rising disposable income, and the presence of major automotive manufacturing hubs in countries like China, Japan, South Korea, and India. These countries have a high demand for vehicles, including passenger cars and commercial vehicles, which drives the demand for automotive HVAC systems. Additionally, extreme weather conditions in some parts of APAC, such as hot summers, contribute to the importance of effective HVAC systems in vehicles.
On the other hand, Europe represents the fastest growing segment. Europe has been a significant market for automotive technologies, including HVAC systems. While the APAC region might have been more dominant due to sheer market size, Europe has been known for its technological innovation, stringent emissions regulations, and focus on sustainable transportation solutions. European countries have been increasingly adopting electric vehicles and implementing regulations that promote energy-efficient and environmentally friendly technologies, which includes HVAC systems that optimize energy consumption. This emphasis on sustainable transportation has likely contributed to the growth of the automotive HVAC market in Europe.
Global Automotive HVAC System Market By Region
- Largest
- Fastest
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Automotive HVAC System Market Dynamics
Automotive HVAC System Market Drivers
Increasing Demand for Comfort and Convenience:
- As consumer expectations rise, there is a growing demand for comfortable driving experiences. Automotive HVAC systems play a crucial role in enhancing passenger comfort by providing temperature control, ventilation, and air purification inside the vehicle cabin.
Stringent Environmental Regulations:
- Global efforts to reduce greenhouse gas emissions and improve fuel efficiency have led to the development of more energy-efficient HVAC systems. Manufacturers are driven to create systems that use less energy, which can lead to better fuel economy and compliance with environmental regulations.
Automotive HVAC System Market Restraints
High Manufacturing and Installation Costs:
- The design, manufacturing, and installation of advanced automotive HVAC systems can be expensive. This cost is often passed on to consumers, potentially affecting the affordability of vehicles equipped with high-end HVAC features.
Increasing Focus on Electric Vehicles (EVs):
- The automotive industry has been gradually shifting towards electric vehicles due to environmental concerns and changing consumer preferences. EVs have different heating and cooling requirements compared to internal combustion engine vehicles, which could impact the demand for traditional HVAC systems.
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Automotive HVAC System Market Competitive Landscape
The Global Automotive HVAC System Market features a dynamic competitive landscape with key players vying for prominence. Industry leaders such as Denso Corporation, Valeo SA, and Delphi Technologies are engaged in extensive research and innovation to offer advanced HVAC solutions. They emphasize energy efficiency, eco-friendliness, and enhanced user experience. Regional players like Mahle GmbH and Hanon Systems contribute to market diversity, focusing on localized requirements. Collaboration and partnerships are common strategies, enabling companies to tap into each other's expertise. The push towards electric vehicles also drives competition, with companies like Tesla integrating cutting-edge HVAC systems into their EV lineup. As regulations tighten and consumer preferences evolve, competitive differentiation hinges on product reliability, integration with vehicle electronics, and cost-effectiveness, driving ongoing innovation and intensifying rivalry within the automotive HVAC sector.
Automotive HVAC System Market Top Player’s Company Profile
- Keihin Corporation (Japan)
- Sensata Technologies Inc. (U.S.)
- SANDEN HOLDINGS CORPORATION (Japan)
- Calsonic Kansei Corporation (Japan)
- Valeo (France)
- DENSO CORPORATION (Japan)
- Johnson Electric Holdings Limited (China)
- Hanon Systems (South Korea)
- JAPAN CLIMATE SYSTEMS CORPORATION (Japan)
- MAHLE GmbH (Germany)
- MITSUBISHI HEAVY INDUSTRIES LTD. (Japan)
- OMEGA Environmental Technologies (U.S.)
- Trans/Air Manufacturing Corp. (U.S.)
- Kongsberg Automotive (Switzerland)
- Imasen Electric Industrial Co. Ltd. (Japan)
- Eberspächer (Germany)
- Air International Thermal Systems (Thailand)
- Delphi Technologies (U.K.)
- Brose Fahrzeugteile GmbH & Co. (Germany)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- Xiezhong International Holdings Limited (China)
- GENTHERM (U.S.)
Automotive HVAC System Market Recent Developments
- In January 2023, Valeo announced the launch of its new 48V electric compressor for automotive HVAC systems. The compressor is claimed to be more efficient and compact than traditional compressors, and it can help to improve fuel economy by up to 3%.
- In February 2023, Denso Corporation announced the development of a new heat pump system for automotive HVAC systems. The system is claimed to be more efficient than traditional HVAC systems, and it can help to reduce energy consumption by up to 20%.
- In March 2023, Robert Bosch GmbH announced the launch of its new eBooster technology for automotive HVAC systems. The technology is claimed to be able to reduce the load on the engine, which can help to improve fuel economy by up to 5%.
- In April 2023, Johnson Controls International PLC announced the launch of its new EcoClimate 2.0 HVAC system for electric vehicles. The system is claimed to be more efficient than traditional HVAC systems, and it can help to improve battery range by up to 10%.
Automotive HVAC System Key Market Trends
- Growing Demand for Electric and Hybrid Vehicles: One significant trend in the automotive industry was the increasing demand for electric and hybrid vehicles. As governments worldwide continued to emphasize environmental concerns and stricter emissions regulations, automakers were investing heavily in electric and hybrid vehicle technology. This shift toward greener transportation options impacted various automotive components, including HVAC systems. Electric and hybrid vehicles often require efficient HVAC systems that can manage cabin temperature while minimizing energy consumption and extending battery life. Manufacturers were focusing on developing HVAC systems specifically tailored to the requirements of electric and hybrid vehicles.
- Integration of Smart and Connected Features: The automotive industry was experiencing a rapid integration of smart and connected features into vehicles, and HVAC systems were no exception. Consumers were increasingly demanding advanced features such as remote-controlled climate settings, personalized temperature zones for different passengers, air quality monitoring, and voice-activated controls. These trends were driving HVAC system manufacturers to develop more sophisticated and interconnected systems that could be controlled through smartphone apps or integrated into the vehicle's infotainment system. The incorporation of IoT (Internet of Things) technology allowed for improved user experience, convenience, and energy efficiency in HVAC systems.
Automotive HVAC System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Automotive HVAC System Market analysis, the market is experiencing steady growth due to several factors. The increasing demand for passenger comfort and enhanced driving experience, especially in emerging economies, is driving the adoption of advanced HVAC systems in vehicles. Additionally, the growing awareness of air quality and environmental concerns is boosting the integration of eco-friendly and energy-efficient HVAC technologies. Furthermore, the trend towards electric and hybrid vehicles is influencing the market as these vehicles require efficient HVAC systems to maintain cabin temperature while optimizing battery performance. Technological advancements such as smart HVAC controls and integration with vehicle connectivity systems are also contributing to market expansion. However, challenges like the high cost of advanced systems and the global semiconductor shortage could hinder market growth. Overall, the automotive HVAC system market is anticipated to continue its upward trajectory, driven by consumer demands, regulatory pressures, and the ongoing pursuit of innovative and efficient automotive technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.95 billion |
| Market size value in 2031 | USD 32.18 billion |
| Growth Rate | 6.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive HVAC System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive HVAC System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive HVAC System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive HVAC System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive HVAC System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive HVAC System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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