The global automotive HVAC system market reached a value of US$ 38.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 54.7 Billion by 2027, exhibiting a CAGR of 6.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology and vehicle type.
Breakup by Component:
Breakup by Technology:
Breakup by Vehicle Type:
Breakup by Region:
Middle East and Africa
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:
How has the global automotive HVAC system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive HVAC system market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive HVAC system market and who are the key players?
What is the degree of competition in the industry?