Global Automotive Hvac Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Passenger Cars, Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV).

By Component;

Evaporator, Compressor, Condenser and Receiver/Drier.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn408397380 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Hvac Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Hvac Market was valued at USD 59,880.14 million. The size of this market is expected to increase to USD 95,840.34 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 7.0%.

The Automotive HVAC Market exhibits robust growth driven by several key factors contributing to its expansion over the forecast period. One significant driver is the growing uptake of luxury cars worldwide, as consumers increasingly prioritize comfort and convenience features in their vehicles. The demand for advanced HVAC systems in luxury vehicles, equipped with sophisticated climate control capabilities, contributes to the overall market growth. Additionally, the expanding automotive industry, characterized by rising production and sales of vehicles across various regions, further fuels the demand for HVAC systems. As automakers continue to innovate and introduce new models, the need for efficient air conditioning systems becomes imperative, driving market growth.

The increasing need for air conditioning systems in vehicles emerges as a crucial driver propelling the Automotive HVAC Market forward. As temperatures rise globally and climate conditions become more extreme, the demand for HVAC systems capable of maintaining comfortable interior environments in vehicles surges. Consumers expect reliable and efficient air conditioning solutions that provide optimal cooling and heating performance, regardless of external weather conditions. Moreover, technological advancements in HVAC systems, such as the integration of smart controls and energy-efficient components, enhance their appeal and contribute to market expansion.

The expanding auto industries in emerging markets contribute significantly to the growth of the Automotive HVAC Market. Developing countries witness rapid urbanization and increasing consumer purchasing power, driving the demand for vehicles equipped with advanced features, including HVAC systems. As automakers establish manufacturing facilities and expand their presence in these regions, there is a corresponding increase in the demand for HVAC components and systems to meet production requirements. This presents opportunities for HVAC manufacturers to penetrate emerging markets and capitalize on the growing automotive industry, further driving market growth.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Component
    3. Market Snapshot, By Region
  4. Global Automotive Hvac Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Luxury car uptake
        2. Expanding auto industries
        3. Increasing need for air conditioning systems
        4. Growing demand for comfort features
      2. Restraints
        1. Cost
        2. Technological Complexity
        3. Environmental Regulations
        4. Market Saturation
      3. Opportunities
        1. Technological Advancements
        2. Expansion in Emerging Markets
        3. Rising Demand for Luxury Vehicles
        4. Climate Control Solutions
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Hvac Market, By Type, 2020 - 2030 (USD Million)
      1. Passenger Cars
      2. Light Commercial Vehicles (LCV)
      3. Heavy Commercial Vehicles (HCV)
    2. Global Automotive Hvac Market, By Component, 2020 - 2030 (USD Million)
      1. Evaporator, Compressor
      2. Condenser and Receiver/Drier
    3. Global Automotive Hvac Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Sensata Technologies (U.S.)
      2. The Keihin Corporation (Japan)
      3. Calsonic Kansei Corporation (Japan)
      4. Sanden Corporation (Japan)
      5. Valeo (France)
      6. Denso Corporation (Japan)
      7. Hanon Systems (South Korea)
      8. MAHLE GmbH (Germany)
      9. Johnson Electric Holdings Limited (Hong Kong)
      10. Japan Climate Systems Corporation (Japan)
  7. Analyst Views
  8. Future Outlook of the Market