Global Electric Vehicle HVAC Market Size study & Forecast, by Technology (Automatic, Manual), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Component Type (Electric Compressor, Heat Exchanging Equipment, Expansion Valve, Receiver-Drier) and Re

Global Electric Vehicle HVAC Market Size study & Forecast, by Technology (Automatic, Manual), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Component Type (Electric Compressor, Heat Exchanging Equipment, Expansion Valve, Receiver-Drier) and Regional Analysis, 2022-2029

Global Electric Vehicle HVAC Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The internal temperature of a vehicle's cabin is controlled by a heating, ventilation, and air conditioning (HVAC) system. It consists of three subsystems: heating, cooling, and air conditioning, all of which work together to give filtered air to the car cabin and ensure thermal comfort for drivers and passengers. It regulates the temperature of the air, checks the moisture content of the air, and removes excess humidity from the circulating air. Audi, Mercedes, and BMW, for example, place a premium on tailored and user-friendly HVAC systems. The Electric Vehicle HVAC Market is expanding because of factors such as rising electric vehicle demand and strict emissions regulations.

According to the International Energy Agency (IEA), over 2.1 million electric vehicles were sold in 2019, accounting for around 2.6% of worldwide vehicles. Additionally, they represented roughly one percent of global automotive stock in 2019, representing a 40% year-on-year rise over 2018. Furthermore, advances in technology, particularly in battery technology, are permitting the rapid electrification of trucks, buses, and other vehicles. As a result, rising demand for electric vehicles will drive demand for electric vehicle HVACs over the projection period. Moreover, technological advancement and convenient operations will create lucrative opportunities for the market. However, the high power requirements stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Electric Vehicle HVAC Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue. With 1.06 million electric vehicles sold in 2019, China accounted for a bigger share of the market. Similarly, demand for electric buses has increased in China, with many cities operating fully electrified fleets. The acquisition of electric vehicles, notably for public transportation in India, has also been accelerated under Phase 2 of the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme. As a result, these factors are boosting demand for electric vehicles, which will boost the market in this region. Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rigorous emission standards and supportive policies, which have resulted in increased EV deployment. According to the IEA, electric car sales in Europe increased by 50% in 2019 over 2018. As a result, Europe is expected to demonstrate significant market expansion in the future.

Major market players included in this report are:

Sanden Holdings Corporation (Gunma, Japan)
Hanon Systems (Daejeon, South Korea)
Denso Corporation (Munich, Germany)
Valeo S.A. (Chennai, India)
Mahle Gmbh (Stuttgart, Germany)
Brose Fahrzeugteile Se & Co. Kg (Coburg, Germany)
Panasonic Corporation (Osaka, Japan)
Marelli Holdings Co., Ltd. (Corbetta, Italy)
Johnson Electric Holdings Limited
Sensata Technologies

Recent Developments in the Market:
In October 2020, MAHLE GmbH acquired Keihin Corporation's air-conditioning business in the United States, Japan, and Thailand. The acquisition allows the company to improve its electric vehicle air conditioning technology.

Global Electric Vehicle HVAC Market Report Scope:

Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Technology, Vehicle Type, Component Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Technology:
Automatic
Manual

By Vehicle Type:
Passenger Cars
Commercial Vehicles

By Component Type:
Electric Compressor
Heat Exchanging Equipment
Expansion Valve
Receiver-Drier

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Sanden Holdings Corporation (Gunma, Japan)
Hanon Systems (Daejeon, South Korea)
Denso Corporation (Munich, Germany)
Valeo S.A. (Chennai, India)
Mahle Gmbh (Stuttgart, Germany)
Brose Fahrzeugteile Se & Co. Kg (Coburg, Germany)
Panasonic Corporation (Osaka, Japan)
Marelli Holdings Co., Ltd. (Corbetta, Italy)
Johnson Electric Holdings Limited
Sensata Technologies

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