Automotive HVAC System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive HVAC System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global automotive HVAC system market size reached US$ 40.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.

An automotive heating, ventilation and air conditioning (HVAC) system refers to an automated mechanism used to sustain the internal temperature of a vehicle. They consist of a condenser, evaporator, compressor, expansion valves, sensors, expansion tube, receiver and dryer. They are commonly available in automatic, manual and semi-automatic variants. Automotive HVAC systems are widely used for regulating operations of heating, cooling and air conditioning, while ensuring proper ventilation within a vehicle. They also assist in controlling the air temperature, providing good air quality, ensuring thermal comfort for drivers and passengers, inspecting the moisture content in the vehicle, and emanating the excessive humidity from the circulating air.

Automotive HVAC Systems Market Trends:

The increasing sales of vehicles and the growing requirement for air conditioning systems under extreme weather conditions across the globe is creating a positive outlook for the market. Automotive HVAC systems are widely used due to the increasing demand for enhanced performance, air quality and environmental issues. In line with this, the rising demand for remote access control systems that assist in enhancing the efficiency of air conditioning and reducing fuel consumption is favoring the market growth. Apart from this, various technological innovations, such as the introduction of energy-efficient and eco-friendly automotive HVAC systems due to the increasing environmental consciousness among the masses, are providing a thrust to the market growth. Furthermore, the launch of new HVAC systems with advanced features that assist in demisting windshields, defrosting windows and dehumidifying air, and providing improved comfort to the passengers is positively impacting the market growth. Other factors, including the increasing demand for electric vehicles (EVs), rising expenditure capacities of consumers and the implementation of various government initiatives to promote energy-efficient systems, are anticipated to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive HVAC system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology and vehicle type.

Breakup by Component:

Evaporator

Compressor

Condensor

Receiver-drier

Expansion Valve

Others

Breakup by Technology:

Automatic

Manual

Breakup by Vehicle Type:

Passenger Car

Commercial Vehicle

Electric Vehicle

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Denso Corporation, Hanon Systems, Highly Marelli, Japan Climate Systems Corporation, Johnson Electric Holdings Limited, Mahle GmbH, Mitsubishi Heavy Industries Ltd, Sanden Corporation, Sensata Technologies Inc and Valeo.

Key Questions Answered in This Report

1. What was the size of the global automotive HVAC system market in 2022?

2. What is the expected growth rate of the global automotive HVAC system market during 2023-2028?

3. What has been the impact of COVID-19 on the global automotive HVAC system market?

4. What are the key factors driving the global automotive HVAC system market?

5. What is the breakup of the global automotive HVAC system market based on the component?

6. What is the breakup of the global automotive HVAC system market based on the technology?

7. What is the breakup of the global automotive HVAC system market based on the vehicle type?

8. What are the key regions in the global automotive HVAC system market?

9. Who are the key players/companies in the global automotive HVAC system market?