North America Electric Vehicle HVAC Market Size, Share & Industry Trends Analysis Report By Technology (BEV, and PHEV), By Component (Condenser, Compressor, Heater Core, Evaporator, and Others), By Vehicle Type, By Country and Growth Forecast, 2023 - 2030
The North America Electric Vehicle HVAC Market would witness market growth of 9.6% CAGR during the forecast period (2023-2030).
The heating, ventilation, and air conditioning system offers effective cabin comfort for the vehicle's passengers. With the current limitations on charging timeframes and battery capacity, there is a growing demand for energy-efficient HVAC solutions. Therefore, manufacturers are increasing their research and development (R&D) efforts to offer more optimized solutions that offer effective thermal management without substantially impacting the electric vehicle's range. Thus, these factors will impact the market's growth.
During the forecast period, the market is anticipated to experience significant growth. As a healthier and more efficient alternative to gasoline-powered vehicles, electric vehicles are gaining popularity among consumers. Due to an expanding network of charging infrastructure, rising petroleum prices, and the introduction of supportive policies and subsidies, electric vehicles are becoming an increasingly viable option for consumers. Major manufacturers are offering technologically advanced HVAC systems for electric vehicles to provide occupants with an improved and more comfortable cabin environment.
The United States is a popular market, and the nation is witnessing an upsurge toward adopting electric mobility. This is partly due to the many technological and electric vehicle manufacturers and startups operating throughout the country, such as Tesla, Lucid Motors, Rivian, General Motors, etc. In 2018, Mexico stated a 68 percent increase in EV and hybrid vehicle sales compared to 2017, attained over 17,800 units. In 2019, electric and hybrid vehicles from January to September totaled 955,393 units. The increasing adoption of electric vehicles throughout regional nations boosts the growth possibilities for the regional market.
The US market dominated the North America Electric Vehicle HVAC Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Canada market is poised to grow at a CAGR of 12% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 11.1% during (2023 - 2030).
Based on Technology, the market is segmented into BEV, and PHEV. Based on Component, the market is segmented into Condenser, Compressor, Heater Core, Evaporator, and Others. Based on Vehicle Type, the market is segmented into Passenger Vehicle, and Commercial Vehicle. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Valeo SA, Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.), Toyota Industries Corporation, Mahle GmbH (Mahle Stiftung GmbH), Panasonic Holdings Corporation, Johnson Electric Holdings Limited, Sanden Corporation (Hisense Home Appliances Group Co., Ltd), Marelli Holdings Co., Ltd., Denso Corporation, and Brose Fahrzeugteile SE & Co. KG
Scope of the Study
Market Segments covered in the Report:
By Technology
- BEV
- PHEV
- Condenser
- Compressor
- Heater Core
- Evaporator
- Others
- Passenger Vehicle
- Commercial Vehicle
- US
- Canada
- Mexico
- Rest of North America
- Valeo SA
- Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
- Toyota Industries Corporation
- Mahle GmbH (Mahle Stiftung GmbH)
- Panasonic Holdings Corporation
- Johnson Electric Holdings Limited
- Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
- Marelli Holdings Co., Ltd.
- Denso Corporation
- Brose Fahrzeugteile SE & Co. KG
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Electric Vehicle HVAC Market, by Technology
- 1.4.2 North America Electric Vehicle HVAC Market, by Component
- 1.4.3 North America Electric Vehicle HVAC Market, by Vehicle Type
- 1.4.4 North America Electric Vehicle HVAC Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market At a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Strategies deployed in Electric Vehicle HVAC Market
- Chapter 5. North America Electric Vehicle HVAC Market by Technology
- 5.1 North America BEV Market by Country
- 5.2 North America PHEV Market by Country
- Chapter 6. North America Electric Vehicle HVAC Market by Component
- 6.1 North America Condenser Market by Country
- 6.2 North America Compressor Market by Country
- 6.3 North America Heater Core Market by Country
- 6.4 North America Evaporator Market by Country
- 6.5 North America Others Market by Country
- Chapter 7. North America Electric Vehicle HVAC Market by Vehicle Type
- 7.1 North America Passenger Vehicle Market by Country
- 7.2 North America Commercial Vehicle Market by Country
- Chapter 8. North America Electric Vehicle HVAC Market by Country
- 8.1 US Electric Vehicle HVAC Market
- 8.1.1 US Electric Vehicle HVAC Market by Technology
- 8.1.2 US Electric Vehicle HVAC Market by Component
- 8.1.3 US Electric Vehicle HVAC Market by Vehicle Type
- 8.2 Canada Electric Vehicle HVAC Market
- 8.2.1 Canada Electric Vehicle HVAC Market by Technology
- 8.2.2 Canada Electric Vehicle HVAC Market by Component
- 8.2.3 Canada Electric Vehicle HVAC Market by Vehicle Type
- 8.3 Mexico Electric Vehicle HVAC Market
- 8.3.1 Mexico Electric Vehicle HVAC Market by Technology
- 8.3.2 Mexico Electric Vehicle HVAC Market by Component
- 8.3.3 Mexico Electric Vehicle HVAC Market by Vehicle Type
- 8.4 Rest of North America Electric Vehicle HVAC Market
- 8.4.1 Rest of North America Electric Vehicle HVAC Market by Technology
- 8.4.2 Rest of North America Electric Vehicle HVAC Market by Component
- 8.4.3 Rest of North America Electric Vehicle HVAC Market by Vehicle Type
- Chapter 9. Company Profiles
- 9.1 Valeo SA
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Regional Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Geographical Expansions:
- 9.2.6 SWOT Analysis
- 9.3 Toyota Industries Corporation
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.6 SWOT Analysis
- 9.4 Mahle GmbH (Mahle Stiftung GmbH)
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Product Launches and Product Expansions:
- 9.4.5.2 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 Panasonic Holdings Corporation
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Acquisition and Mergers:
- 9.5.6 SWOT Analysis
- 9.6 Johnson Electric Holdings Limited
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Regional Analysis
- 9.6.4 Recent strategies and developments:
- 9.6.4.1 Acquisition and Mergers:
- 9.6.5 SWOT Analysis
- 9.7 Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Recent strategies and developments:
- 9.7.3.1 Partnerships, Collaborations, and Agreements:
- 9.7.4 SWOT Analysis
- 9.8 Marelli Holdings Co., Ltd.
- 9.8.1 Company Overview
- 9.8.2 Recent strategies and developments:
- 9.8.2.1 Partnerships, Collaborations, and Agreements:
- 9.8.2.2 Product Launches and Product Expansions:
- 9.8.3 SWOT Analysis
- 9.9 Denso Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional Analysis
- 9.9.4 SWOT Analysis
- 9.10. Brose Fahrzeugteile SE & Co. KG
- 9.10.1 Company Overview
- 9.10.2 SWOT Analysis
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