Automotive Climate Control Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The global Automotive Climate Control Market expanded to USD 9.9 billion and will register a 12.5% CAGR between 2024 and 2032, owing to the growing demand for electric vehicles (EVs) and the integration of smart, connected technologies. EVs require energy-efficient climate control systems to manage temperature without compromising battery life, boosting demand for advanced HVAC solutions. Additionally, the rise of connected technologies, such as voice-controlled climate settings and integration with smart home devices, enhances the appeal of modern climate control systems. These innovations improve passenger comfort and align with the evolving automotive tech landscape, fueling market growth.
The automotive climate control industry is fragmented on the basis of technology, fuel, component, vehicle, end-use, and region.
The passenger car segment held 70% share in 2023, fueled by increasing consumer demand for enhanced comfort and convenience. With the global production of passenger vehicles on the rise, particularly in emerging economies, there is a growing expectation for cars to come equipped with advanced climate control systems. Consumers now prioritize features like multi-zone temperature control, air purification, and automatic adjustments, making climate control a standard expectation in modern vehicles. This trend is further solidifying the passenger car segment's leading position in the automotive climate control market.
The OEM segment accumulated 64% share in 2023, spurred by its integration of advanced climate control systems directly into new vehicles. Original Equipment Manufacturers (OEMs) are increasingly incorporating sophisticated HVAC technologies, such as multi-zone climate control, air purification, and smart climate management, to meet rising consumer expectations for comfort and convenience. As vehicle manufacturers continue to innovate and enhance their offerings with state-of-the-art climate control solutions, the OEM segment's dominance in the market will grow.
North America automotive climate control industry captured 35% share in 2023, driven by strong demand for advanced climate control features in vehicles. The region’s focus on technological innovation and consumer preference for premium comfort and convenience in cars fuels the adoption of sophisticated HVAC systems. Besides, stringent emission regulations and a high rate of electric vehicle adoption contribute to this trend. The combination of these factors makes North America a key contributor to the growth and expansion of the automotive climate control market.
- Chapter 1 Methodology and Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market scope and definition
- Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Software provider
- 3.2.4 Manufacturer
- 3.2.5 Technology providers
- 3.2.6 End user
- 3.3 Profit margin analysis
- 3.4 Technology and innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Rising adoption of electric vehicles
- 3.8.1.2 Technological advancements in HVAC systems
- 3.8.1.3 Growing automotive production globally
- 3.8.1.4 Rising disposable income and vehicle ownership
- 3.8.2 Industry pitfalls and challenges
- 3.8.2.1 High development and installation costs
- 3.8.2.2 Limited adoption in low-cost vehicles
- 3.9 Growth potential analysis
- 3.10 Porter’s analysis
- 3.11 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
- Chapter 5 Market Estimates and Forecast, By Technology, 2021-2032, ($Mn)
- 5.1 Key trends
- 5.2 Automatic
- 5.3 Manual
- Chapter 6 Market Estimates and Forecast, By Vehicle, 2021-2032, ($Mn)
- 6.1 Key trends
- 6.2 Passenger cars
- 6.2.1 Hatchback
- 6.2.2 Sedan
- 6.2.3 SUV
- 6.2.4 Others
- 6.3 Commercial vehicle
- 6.3.1 Trucks
- 6.3.2 Bus
- Chapter 7 Market Estimates and Forecast, By Fuel, 2021-2032, ($Mn)
- 7.1 Key trends
- 7.2 Gasoline
- 7.3 Diesel
- 7.4 All-electric
- 7.5 PHEV
- 7.6 HEV
- Chapter 8 Market Estimates and Forecast, By Component, 2021-2032, ($Mn)
- 8.1 Key trends
- 8.2 Compressors
- 8.3 Condensers
- 8.4 Evaporators
- 8.5 Control panels
- 8.6 Sensors
- 8.7 Others
- Chapter 9 Market Estimates and Forecast, By End-Use, 2021-2032, ($Mn)
- 9.1 Key trends
- 9.2 OEM
- 9.3 Aftermarket
- Chapter 10 Market Estimates and Forecast, By Region, 2021-2032, ($Mn)
- 10.1 Key trends, by region
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Netherlands
- 10.3.7 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Southeast Asia
- 10.4.7 Rest of Asia Pacific
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
- 10.6 MEA
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
- 10.6.4 Rest of MEA
- Chapter 11 Company Profiles
- 11.1 BorgWarner Inc.
- 11.2 Sensata Technologies, Inc.
- 11.3 Continental AG
- 11.4 Denso Corporation
- 11.5 Eberspächer Group
- 11.6 Gentherm Inc.
- 11.7 Hanon Systems
- 11.8 Johnson Electric Holdings Limited
- 11.9 Keihin Corporation (Part of Hitachi Astemo)
- 11.10 Mahle GmbH
- 11.11 Marelli Corporation
- 11.12 Mitsubishi Heavy Industries Ltd.
- 11.13 Modine Manufacturing Company
- 11.14 Nippon Light Metal Holdings Co., Ltd.
- 11.15 Panasonic Corporation
- 11.16 Robert Bosch GmbH
- 11.17 Sanden Corporation
- 11.18 Toyota Industries Corporation
- 11.19 Valeo SA
- 11.20 Zhejiang Sanhua Intelligent Controls Co., Ltd.
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