India Automotive HVAC Market Report and Forecast 2023-2028

India Automotive HVAC Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the India automotive HVAC market is projected to grow at a CAGR of 10.30% between 2023 and 2028. Aided by the growing demand for capable HVAC systems and rising sales of automotives, the market is expected to grow significantly by 2028.

Automotive Heating, Ventilation, and Air Conditioning (HVAC) systems play a critical role in maintaining the cabin's temperature and air quality, ensuring comfort and safety for the passengers. Besides their essential climate control functions, automotive HVAC systems are increasingly incorporated with advanced technologies, making them a valuable component in modern vehicles. These technologies include automatic climate control, multi-zone control, and sensors, adding to the enhanced driving experience and safety.

The rising consumer preference for vehicular comfort and convenience features is driving the India automotive HVAC market growth. As customers' income levels and living standards increase, there is a significant shift towards premium and luxury vehicles that offer high-end HVAC systems. The rise in temperature variations due to global warming has led to a surge in demand for efficient HVAC systems. Additionally, the growing trend of electric and hybrid vehicles further contributes to the increasing popularity of automotive HVAC, given their critical role in these vehicle types to manage battery temperature and enhance performance.

The expanding applications of automotive HVAC in various vehicle segments also play a significant role in propelling the India automotive HVAC market development. In passenger cars, HVAC systems are an essential feature contributing to the passenger's comfort. The commercial vehicles segment, including buses and trucks, also utilises HVAC systems to ensure driver comfort and reduce fatigue during long journeys.

Moreover, the development of advanced HVAC systems has led to an increased focus on incorporating these systems in vehicles. For example, thermal comfort systems for electric vehicles, integrated starter generator systems for engine cooling, and energy-efficient HVAC systems have emerged as key trends in the automotive HVAC market. The adoption of these advanced systems is expected to further fuel India automotive HVAC market demand.

Further, the growing focus on improving vehicle efficiency and reducing greenhouse gas emissions has resulted in stricter regulations, prompting automakers to incorporate energy-efficient HVAC systems in their vehicles. This shift towards eco-friendly automotive solutions has made HVAC systems a crucial component in the formulation of future vehicle designs, thereby boosting the India automotive HVAC market expansion.

Market Segmentation

The market can be divided based on technology, component, propulsion type, vehicle type, and region.

Market Breakup by Technology

• Manual
• Automatic

Market Breakup by Component

• Evaporator
• Compressor
• Condenser
• Expansion Valve
• Receiver-drier
• Others

Market Breakup by Propulsion Type

• IC Engine
• Electric Powered

Market Breakup by Vehicle Type

• Passenger Cars
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Market Breakup by Region

• North India
• East and Central India
• South India
• West India

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the India automotive HVAC companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Subros Limited
• Denso Corporation
• Sanden Vikas (India) Ltd.
• MAHLE GmbH
• Valeo
• Hanon Systems
• Delphi Technologies
• Samvardhana Motherson Group
• Air International Thermal Systems
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.