Automotive HVAC Market by Component (Compressor, Expansion Device, Heat Exchanging Equipment), Technology (Automatic HVAC System, Manual HVAC System), Vehicle, Distribution Channel - Global Forecast 2024-2030
Description
Automotive HVAC Market by Component (Compressor, Expansion Device, Heat Exchanging Equipment), Technology (Automatic HVAC System, Manual HVAC System), Vehicle, Distribution Channel - Global Forecast 2024-2030
The Automotive HVAC Market size was estimated at USD 31.52 billion in 2023 and expected to reach USD 33.83 billion in 2024, at a CAGR 7.56% to reach USD 52.53 billion by 2030.
Automotive heating, ventilation, and air conditioning (HVAC) is the system that circulates cooled or heated air while lowering humidity to meet the passengers' and drivers' optimum temperature requirements. The system also controls the air quality and quantity inside vehicle cabins. The HVAC systems help maintain thermal comfort inside the vehicles by mainly using the principles of convection, radiation, and conduction. The automotive HVAC systems are gaining more traction with increased demand for private & passenger cars, rising disposable income, growing spending on premium and luxurious vehicles, and regulations applicable to climate control for low-emission vehicles. Although maintenance and replacement of HVAC systems are cost-intensive and lead to environmental issues, the improvements in design and technologies used in automotive HVAC increases their usage. Moreover, increasing demand for electric and autonomous vehicles is also expected to support future utilization and R&D efforts in automotive HVAC systems in the coming years.
Regional Insights
The demand and usage of automotive HVAC systems are increasing in the EU, the U.S., and developed parts of Asia-Pacific regions, with consumer spending on passenger cars and a strong presence of market players developing advanced HVAC systems. China, the US, Japan, India, South Korea, Germany, Mexico, and Brazil are the leading automotive manufacturers worldwide with a highly competitive automotive sector. Automakers’ investments towards improving consumer satisfaction while complying with cabin air quality regulations and reducing the weight of vehicles to meet fuel consumption and emission standards provide considerable scope for the market players. In both developed and developing economies, the automotive sector enormously contributes to the economy, necessitating efficient automotive HVAC systems. Moreover, with sustainability becoming the prime focus of countries, HVAC systems are becoming increasingly advanced as new technologies get integrated to make the system more efficient. The significant importance given to the electrification of the automotive sector, encouraging the adoption of electric vehicles, is anticipated to further expand the use of automotive HVAC in the upcoming years.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Automotive HVAC Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing production and sales of automobiles worldwide
- Inclination towards climate control systems in automobiles
- Market Restraints
- Capital intensive installation, replacement and maintenance
- Market Opportunities
- Technological advancements in automotive HVACs
- Potential demand for electric and autonomous vehicles worldwide
- Market Challenges
- Technical issues and environmental concerns associated with automotive HVAC
- Market Segmentation Analysis
- Component: innovations in heat exchanger for enhancing energy efficiency, and improving durability
- Technology: Significant adoption of manual HVAC system as a cost-effective alternative
- Vehicle: Rising usage of HVAC system in the passenger vehicles
- Distribution Channel: Widening availability of automotive HVAC solution through OEM
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive HVAC Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive HVAC Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Nitin Gadkari Approves Draft Notification for AC Truck Cabins
The draft notification for equipping trucks of categories N2 and N3 with air-conditioned cabins has been approved by the esteemed Ministry of Road Transport and Highways of India. This decision is a major step forward in ensuring the well-being and comfort of truck drivers, who play a crucial role in maintaining road safety.
Samvardhana Motherson eyes demand from off-highway vehicles, acquires cabin-making JV
Samvardhana Motherson Group, an automotive component manufacturer, is investing strategically to tap the rising demand for aftermarket HVAC systems from Off-Highway Vehicles (OHV). The company recently acquired a 50 percent stake in Kairali Autocomp Components Pvt Ltd., its joint venture with M/s. Kairali Auto Components for the manufacturing of cabins for OHV applications. The acquisition aims to strengthen the company's presence and market penetration in India's outdoor vehicle segment.
Aspina Group's automotive HVAC blowers ready for growing markets
Aspina Group, launched a new product line that features state-of-the-art technology that meets the automotive industry's changing needs. This new line allows for improved performance and efficiency in HVAC systems. The launch of this new product line reinforces Aspina Group's commitment to delivering cutting-edge solutions to the automotive sector. This new product range provides superior comfort and performance in vehicles' heating, ventilation, and air conditioning systems by utilizing high-quality components and advanced technology.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive HVAC Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Automotive HVAC Market, highlighting leading vendors and their innovative profiles. These include Air International Thermal Systems, Inc., ASPINA Group, Bergstrom Inc., BorgWarner Inc., Brose Fahrzeugteile SE & Co. KG, Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, ELKE S.r.l., ESTRA Automotive Systems Co., Ltd., Gentherm Incorporated, Global Air, Hanon Systems Co., Ltd., Hitachi Astemo, Ltd., LU-VE Group, MAHLE GmbH, Marelli Holdings Co., Ltd., Mitsubishi Heavy Industries Ltd., OMEGA Environmental Technologies, Red Dot Corporation, Samvardhana Motherson International Limited, Sanden Corporation, SEA Italy, Sensata Technologies, Inc., STMicroelectronics N.V., Subros Limited, Texas Instruments Incorporated, Valeo Group, and Webasto Group.
Market Segmentation & Coverage
This research report categorizes the Automotive HVAC Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Compressor
- Expansion Device
- Heat Exchanging Equipment
- Receiver/Drier
- Technology
- Automatic HVAC System
- Manual HVAC System
- Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Car
- Distribution Channel
- Aftermarket
- OEM
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
183 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing production and sales of automobiles worldwide
- 5.1.1.2. Inclination towards climate control systems in automobiles
- 5.1.2. Restraints
- 5.1.2.1. Capital intensive installation, replacement and maintenance
- 5.1.3. Opportunities
- 5.1.3.1. Technological advancements in automotive HVACs
- 5.1.3.2. Potential demand for electric and autonomous vehicles worldwide
- 5.1.4. Challenges
- 5.1.4.1. Technical issues and environmental concerns associated with automotive HVAC
- 5.2. Market Segmentation Analysis
- 5.2.1. Component: innovations in heat exchanger for enhancing energy efficiency, and improving durability
- 5.2.2. Technology: Significant adoption of manual HVAC system as a cost-effective alternative
- 5.2.3. Vehicle: Rising usage of HVAC system in the passenger vehicles
- 5.2.4. Distribution Channel: Widening availability of automotive HVAC solution through OEM
- 5.3. Market Trend Analysis
- 5.3.1. Expansion of automotive HVAC manufacturers with availability of government standards for automotive HVAC systems in the Americas
- 5.3.2. Massive expansion of regional automotive manufacturing sector supporting the usage of automotive HVAC systems in the APAC
- 5.3.3. Growing emphasis on electrification of automotive sector developing the demand for automotive HVAC systems in the EMEA
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 6. Automotive HVAC Market, by Component
- 6.1. Introduction
- 6.2. Compressor
- 6.3. Expansion Device
- 6.4. Heat Exchanging Equipment
- 6.5. Receiver/Drier
- 7. Automotive HVAC Market, by Technology
- 7.1. Introduction
- 7.2. Automatic HVAC System
- 7.3. Manual HVAC System
- 8. Automotive HVAC Market, by Vehicle
- 8.1. Introduction
- 8.2. Heavy Commercial Vehicle
- 8.3. Light Commercial Vehicle
- 8.4. Passenger Car
- 9. Automotive HVAC Market, by Distribution Channel
- 9.1. Introduction
- 9.2. Aftermarket
- 9.3. OEM
- 10. Americas Automotive HVAC Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Automotive HVAC Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Automotive HVAC Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Nitin Gadkari Approves Draft Notification for AC Truck Cabins
- 13.3.2. Samvardhana Motherson eyes demand from off-highway vehicles, acquires cabin-making JV
- 13.3.3. Aspina Group's automotive HVAC blowers ready for growing markets
- 13.3.4. Gentherm’s ClimateSense Technology to Launch on the 2024 Cadillac Celestiq
- 13.3.5. Parity closes USD 8 million from strategic investors to expand North American reach of SaaS HVAC efficiency technology
- 13.3.6. ASPINA Completes Expansion of Its Mexico Plant
- 13.3.7. Actasys enters into collaboration with Webasto, a tier one automotive supplier
- 13.3.8. New rooftop air conditioner from Webasto
- 13.3.9. Olympus joins the Cool Kids with acquisition of Omega
- 13.3.10. Hanon Systems expands Thermal Management production to support growth in electrified vehicles
- 13.3.11. Eberspächer presents bus and coach thermal management solutions at PRAWAAS 3.0
- 13.3.12. Motherson and Valeo sign a partnership to create the automotive interior of the future
- 13.3.13. Eberspaecher’s AC Systems in São Paulo’s Buses
- 13.3.14. Hisense buys stake in Sanden
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
