Automotive HVAC Market Size, Share, Analysis, Trends, Growth, Forecast (2022-2028)

Automotive HVAC Market Size, Share, Analysis, Trends, Growth, Forecast (2022-2028)

According to a new report published by UnivDatos Markets Insights, the Automotive HVAC Market is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into Technology Type (Manual and Automatic); Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle); Component Type (Evaporator, Compressor, Condenser, Expansion valve and Others); and Region/Country.

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The automotive HVAC market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive HVAC market. The automotive HVAC market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive HVAC market at the global and regional levels.

Market Overview

Global Automotive HVAC Market is expected to grow at a significant rate of around 6% during the forecast period. The global automotive HVAC (heating, ventilation, and air conditioning) market is expected to grow in the coming years due to increasing demand for passenger comfort and the need to meet regulatory emissions standards. The HVAC system is an essential component in any vehicle and is responsible for maintaining the desired temperature inside the cabin. The growth of the market is driven by the increasing production of vehicles, advancements in technology, and rising consumer demand for premium and luxury vehicles. The advent of electric vehicles has also led to the development of innovative HVAC systems, which are more energy-efficient and eco-friendly. Overall, the global automotive HVAC market is expected to grow in the coming years due to the increasing demand for comfort and safety features in vehicles, as well as the need to meet emissions regulations.

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Air International Thermal Systems, DENSO CORPORATION, Hanon Systems Marelli Corporation, Johnson Electric Holdings Limited., Keihin., MAHLE GmbH, SANDEN CORPORATION, Sensata Technologies, Inc. and VALEO SERVICE are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the automotive HVAC market. The sudden outbreak of the pandemic led to a global shutdown of automotive production, resulting in a decline in demand for automotive HVAC systems. The pandemic has also accelerated the adoption of electric and hybrid vehicles, which use more advanced and efficient HVAC systems, providing growth opportunities for the automotive HVAC market. Additionally, the pandemic has led to an increased focus on in-car air quality, and many automakers have launched new HVAC systems with advanced filtration technologies to provide a safer and more comfortable in-car environment for passengers. This is likely to drive growth in the automotive HVAC market in the post-pandemic era.

·        Based on type, the market is segmented into automatic and manual. The growth rate of the automatic category in the automotive HVAC market is likely higher because automatic HVAC systems offer convenient temperature control, making the driving experience more comfortable for drivers and passengers. Additionally, automated HVAC systems have become more advanced, with features like climate control, automatic temperature adjustment, and programmable settings. These advancements have increased the popularity of the automatic category. Furthermore, automated systems are more energy-efficient, which is driving their growth in the market. The increasing demand for electric vehicles (EVs) is also contributing to the growth of the automatic category in the automotive HVAC market.

·        On the basis of vehicle type, the market is categorized into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Among these, the heavy commercial vehicle category typically has a higher growth rate in the automotive HVAC market. The automotive HVAC industry has seen significant technological advancements in recent years, which has resulted in the development of more efficient and compact HVAC systems that can be easily installed in heavy commercial vehicles. Additionally, the growing e-commerce and logistics industry has led to an increased demand for heavy commercial vehicles, which has in turn driven the growth of the automotive HVAC market.

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Automotive HVAC Market Geographical Segmentation Includes:

·        North America (United States, Canada, and Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

North America holds a significant share of the global automotive HVAC market for several reasons, which include this region being home to some of the largest automotive manufacturers in the world, such as General Motors, Ford, and Tesla, which drives demand for HVAC systems in the region. Consumers in North America have a high purchasing power, which allows them to purchase high-end vehicles equipped with advanced HVAC systems. Additionally, North American countries, particularly the United States, have strict emission regulations that have encouraged the adoption of advanced HVAC systems to control vehicle cabin temperature and improve fuel efficiency. The region has been a leader in the development of new technologies for automotive HVAC systems, and this has further fueled demand for these systems. All of these factors have contributed to the growth of the automotive HVAC market in North America, making it a significant player in the global market.

The major players targeting the market include

·        Air International Thermal Systems,

·        DENSO CORPORATION,

·        Hanon Systems

·        Marelli Corporation,

·        Johnson Electric Holdings Limited.,

·        Keihin.,

·        MAHLE GmbH,

·        SANDEN CORPORATION,

·        Sensata Technologies, Inc.

·        VALEO SERVICE

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive HVAC market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the automotive HVAC market?

• Which factors are influencing the automotive HVAC market over the forecast period?

• What are the global challenges, threats, and risks in the automotive HVAC market?

• Which factors are propelling and restraining the automotive HVAC market?

• What are the demanding global regions of the automotive HVAC market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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