The global automotive HVAC market size is estimated to reach USD 79.59 billion by 2030, expanding at a CAGR of 6.7% during the forecast period. The market is driven by increasing development of innovative, fuel-efficient, and eco-friendly HVAC solutions coupled with surging global demand for passenger vehicles. Rising disposable income and growing inclination towards more luxurious and comfortable travel are anticipated to foster the growth of the automotive HVAC market.
In the current scenario, an automotive HVAC unit has become an integral part of passenger vehicles, offering comfort features that influence consumer buying behavior. Rising concerns regarding global warming are leading to an increase in temperature levels, which in turn is resulting in increased demand for enhanced interior environment and comfort. Technological innovations and substantial investments in R&D activities are leading to the innovation of fuel-efficient and eco-friendly HVAC units coupled with innovative designs to lower the weight and size of systems for better adaptability.
Spiraling demand for private vehicles owing to the flourishing car rental industry and rising average time spent on vehicles is expected to boost the growth of the market. Additionally, affordable automobile finance schemes and increasing preference to use private vehicles rather than public transport can also favor the growth of the automotive HVAC market. Asia Pacific is anticipated to dominate the global market throughout the forecast horizon owing to the presence of key automobile manufacturers coupled with a broader consumer base boosting vehicle demand. Rising concerns about the environmental effects of refrigerants and high maintenance costs can hinder the growth of the automotive HVAC market.
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In the current scenario, an automotive HVAC unit has become an integral part of passenger vehicles, offering comfort features that influence consumer buying behavior. Rising concerns regarding global warming are leading to an increase in temperature levels, which in turn is resulting in increased demand for enhanced interior environment and comfort. Technological innovations and substantial investments in R&D activities are leading to the innovation of fuel-efficient and eco-friendly HVAC units coupled with innovative designs to lower the weight and size of systems for better adaptability.
Spiraling demand for private vehicles owing to the flourishing car rental industry and rising average time spent on vehicles is expected to boost the growth of the market. Additionally, affordable automobile finance schemes and increasing preference to use private vehicles rather than public transport can also favor the growth of the automotive HVAC market. Asia Pacific is anticipated to dominate the global market throughout the forecast horizon owing to the presence of key automobile manufacturers coupled with a broader consumer base boosting vehicle demand. Rising concerns about the environmental effects of refrigerants and high maintenance costs can hinder the growth of the automotive HVAC market.
Automotive HVAC Market Report Highlights
- Passenger car is likely to dominate the market through 2030. Increasing personnel mobility needs and growing urbanization will contribute to the growth of the segment
- Macroeconomic conditions and regulations such as the mining ban in India may affect the demand for Heavy Commercial Vehicle (HCV). Increasing demand for LCVs, particularly in rural areas, is projected to supplement the growth of the segment
- The burgeoning popularity of electric or hybrid vehicles can also positively influence the growth of the market. Increasing adoption of premium automobile brands in countries such as India and China are estimated to bolster the growth of the market
- Asia Pacific automotive HVAC market registered the largest market revenue share of 49.0% in 2023. The expanding middle class in countries such as China, India, and Japan is boosting the demand for cars with modern features, including HVAC systems
The leading players in the Automotive HVAC market include:
- Denso Corporation
- Valeo
- MAHLE GmbH
- Hanon Systems
- Sanden Holdings Corporation
- Calsonic Kansei Corporation
- Keihin Corporation
- Mitsubishi Heavy Industries
- Brose Fahrzeugteile
- Eberspächer Gruppe
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive HVAC Market Variables, Trends, & Scope
Chapter 4. Automotive HVAC Market: Technology Estimates & Trend Analysis
Chapter 5. Automotive HVAC Market: Vehicle Estimates & Trend Analysis
Chapter 6. Automotive HVAC Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
The leading players in the Automotive HVAC market include:- Denso Corporation
- Valeo
- MAHLE GmbH
- Hanon Systems
- Sanden Holdings Corporation
- Calsonic Kansei Corporation
- Keihin Corporation
- Mitsubishi Heavy Industries
- Brose Fahrzeugteile
- Eberspächer Gruppe
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 51.16 Billion |
| Forecasted Market Value ( USD | $ 79.59 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
