Automotive HVAC Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Automotive HVAC Market was valued at USD 61 billion in 2023 and is projected to grow at a CAGR of over 5% from 2024 to 2032. This growth is driven by the increasing demand for enhanced passenger comfort, as modern consumers prioritize comfortable driving experience, including maintaining an optimal cabin temperature regardless of external weather conditions.

In February 2024, researchers at Birmingham University announced the development of the e-Thermal bank, a microwave-based thermochemical HVAC system for electric vehicles (EVs). This system promises a range boost of up to 70% by offloading HVAC duties from the battery, significantly enhancing energy efficiency and reducing costs.

The overall industry is divided into type, vehicle type, component, propulsion type, and region.

The market is segmented by type into automatic HVAC systems and manual HVAC systems. The automatic HVAC systems segment is expected to reach a value of over USD 55 billion by 2032. Consumers increasingly expect advanced comfort features in their vehicles, including automatic climate control that adjusts temperature and airflow based on internal and external conditions. These systems, equipped with sophisticated sensors and control algorithms, enhance comfort, efficiency, and convenience, driving their adoption.

Based on vehicle type, the automotive HVAC market is divided into passenger cars, commercial vehicles, and electric vehicles (EVs). The EV segment is the fastest growing, with a CAGR of over 5% between 2024 and 2032. The rising popularity of EVs, driven by environmental concerns, government incentives, and advancements in battery technology, boosts demand for specialized HVAC systems tailored to these vehicles. Efficient HVAC systems are also crucial for managing both cabin and battery temperatures effectively, optimizing energy use, and extending the vehicle range.

North America dominated the global automotive HVAC market in 2023, accounting for a share of over 25%. The region is home to major automotive manufacturers and suppliers, fostering innovation and the adoption of advanced HVAC technologies. North America is experiencing a surge in EV adoption, necessitating specialized HVAC systems designed to manage battery and cabin temperatures effectively. The region benefits from continuous technological advancements and investments in automotive HVAC solutions, including smart and automatic systems.

Product Code: 371

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
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 Increasing demand for electric vehicles
  - 3.8.1.2 Innovative technological advancements in HVAC
  - 3.8.1.3 Stricter environmental regulations globally
  - 3.8.1.4 Rising consumer demand for comfort
  - 3.8.1.5 Energy efficiency and cost savings focus
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High initial development and production costs
  - 3.8.2.2 Technical integration and reliability concerns
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
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 Type, 2021 - 2032 (USD million)

5.1 Key trends
5.2 Automatic HVAC systems
5.3 Manual HVAC systems

Chapter 6 Market Estimates and Forecast, By Vehicle Type, 2021 - 2032 (USD million)

6.1 Key trends
6.2 Passenger cars
6.3 Commercial vehicles
- 6.3.1 LCV
- 6.3.2 HCV

Chapter 7 Market Estimates and Forecast, By Component, 2021 - 2032 (USD million)

7.1 Key trends
7.2 Sensors
- 7.2.1 Temperature sensors
- 7.2.2 Pressure sensors
- 7.2.3 Humidity sensors
- 7.2.4 Air quality sensors
- 7.2.5 Position sensors
7.3 Heat Exchangers
- 7.3.1 Condenser
- 7.3.2 Evaporator
7.4 Compressor
7.5 Expansion device
7.6 Receiver/drier
7.7 Blower motor
7.8 Others

Chapter 8 Market Estimates and Forecast, By Propulsion Type, 2021 - 2032 (USD million)

8.1 Key trends
8.2 ICE
8.3 Electric
8.4 Hybrid

Chapter 9 Market Estimates and Forecast, By Region, 2021 - 2032 (USD million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Air International Thermal Systems
10.2 Behr Hella Service GmbH
10.3 Calsonic Kansei Corporation (Marelli Corporation)
10.4 Delphi Technologies (BorgWarner Inc.)
10.5 Denso Corporation
10.6 Eberspacher Group
10.7 Fawer Automotive Parts Co., Ltd.
10.8 Gentherm Incorporated
10.9 Hanon Systems
10.10 Hella GmbH and Co. KGaA
10.11 Johnson Electric Holdings Limited
10.12 Keihin Corporation
10.13 Kongsberg Automotive
10.14 Mahle GmbH
10.15 Modine Manufacturing Company
10.16 Nissens Automotive
10.17 Sanden Holdings Corporation
10.18 Sapa Group
10.19 Shin-Etsu Chemical Co., Ltd.
10.20 Subros Limited
10.21 Sundaram Clayton Limited
10.22 Tata AutoComp Systems Limited
10.23 Thermoking Corporation
10.24 Valeo SA
10.25 Visteon Corporation