According To Cmi Global Automotive HVAC Market Size, Forecast & Share Surpass US$ 32.10 Bn By 2030, At 6.75% CAGR

(MENAFN- EIN Presswire)

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Automotive HVAC Market was at US$ 16.35 Billion in 2021 and is growing to approx US$ 32.10 Billion by 2030, with a CAGR growth of 6.75% between 2022 and 2030.

The Global Automotive HVAC Market was estimated at USD 16.35 Billion in 2021 and is anticipated to reach around USD 32.10 Billion by 2030, growing at a CAGR of roughly 6.75% between 2022 and 2030. ” - Custom Market InsightsSANDY, UTAH, UNITED STATES, February 20, 2023 /einpresswire.com / -- According to the study, The global automotive hvac market was estimated at USD 16.35 Billion in 2021 and is anticipated to reach around USD 32.10 Billion by 2030, growing at a CAGR of roughly 6.75% between 2022 and 2030.

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automotive hvac market : Overview

The HVAC is a small, versatile system that enables air circulation in car cabins by using a number of parts including fans, thermal exchangers, filters, etc. Due to rising passenger demand for comfort features including high-quality air conditioners, infotainment systems, noise-free systems, etc., the market will expand at a modest rate in the next years. As passenger cars have evolved, producers of light commercial vehicles and big trucks are increasingly integrating HVAC systems into their products. According to the interior components of the vehicle, various HVAC providers offer various system designs, which will determine the effect of prospective design modifications on system performance.

Automotive HVAC Market: Growth Drivers

The global need for air conditioning systems in adverse weather conditions and rising auto sales both contribute to the expansion of the global Automotive HVAC market. Due to the rising need for better performance, air quality, and environmental concerns, automotive HVAC systems are increasingly used.

The factors driving the market expansion during the projected period include the increased demand for remote access control systems that aid in improving air conditioning efficiency and lowering fuel usage. A further factor driving market expansion is the adoption of energy-saving and environmentally friendly car HVAC systems in response to rising environmental consciousness among the general public.

The market is expanding as a result of the introduction of new HVAC systems with cutting-edge technologies that help demist windshields, defrost windows, and dehumidify air while improving passenger comfort. Other factors that contribute to the expansion of the global automotive HVAC market over the course of the projected period include increased consumer spending power, expanding demand for Electric Vehicles (EVs), and the adoption of several government programs to support energy-efficient systems.

Additionally, it is anticipated that the global expansion of research and development in the automotive industry would strengthen the technological expertise of the market's competitors. In order to create new goods that provide them a competitive edge in the industry, these market players are implementing cutting-edge technology in automotive HVAC. Another factor fueling the market's expansion throughout the projection period is energy efficacy.

Manufacturers who use green technologies to create eco-friendly and energy-efficient vehicle HVAC systems are growing, which is another potential driving the market's expansion. In the upcoming years, the Automotive HVAC industry will have development prospects due to new expanding markets, changing customer demographics, and strict regulatory restrictions.

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Key Insights:

A) As per the analysis shared by our research analyst, the Automotive HVAC market is estimated to grow annually at a CAGR of around 6.75% over the forecast period (2022-2030).
B) In terms of revenue, the Automotive HVAC market size was valued at around USD 16.35 Billion in 2021 and is projected to reach USD 32.10 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on technology segmentation, the automatic segment is estimated to hold the largest market share during the forecast period.
D) Based on vehicle segmentation, the passenger cars segment is the leading revenue-generating category during the forecast period and the commercial vehicles segment is expected to grow at a significant rate.
E) On the basis of geography/region, the Asia-Pacific region was the leading revenue generator in 2021.

Press Release For Automotive HVAC Market :

Regional Landscape

The biggest market share of the total market was held by the Asia-Pacific in the automotive HVAC industry. A considerable portion of the demand for these systems comes from China, one of the biggest markets. Governmental efforts and support to revitalize the automobile sector in nations like China and India also contribute to the expansion of the industry. A further factor in the expansion of the industry in the area is the rising demand for passenger cars coming from India as a result of rising living standards. High-end automobiles with comparable comfort amenities are more popular with consumers. Additionally, nations like Thailand and Malaysia are experiencing an increase in the manufacture of vehicles by multinational firms.

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Key Players

DENSO Corporation
MAHLE GmbH
Valeo Group
Johnson Electric Holdings Ltd
Sanden Holdings Corporation
Japan Climate System Corporation
Brose Fahrzeugteile GmbH & Co. Kg
Air International Thermal Systems
Hanon Systems Corp.
Marelli Corporation
Valeo
Calsonic Kansei Corporation
Keihin Corporation
Calsonic Kansei
Engineered Plastic Components
DelStar Technologies
Sanden Holdings Corporation
Behr GmbH

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The Automotive HVAC Market is segmented as follows:

By Technology

Automatic
Manual

By Vehicle type

Passengers Cars
Commercial Vehicles
Electric Vehicles

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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