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Automotive HVAC Market Segmentation by Component (Compressor, Condenser, Expansion Valve and Evaporator); by Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

·    September, 2019: Calsonic Kansei Corporation, the manufacturer of compressor merged with Magneti Marelli to form ‘Marelli’ Brand.

Global Automotive HVAC Market Highlights over 2022 – 2030

The global automotive HVAC market is estimated to grow at CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for automobiles, along with rising need for comfortable and well-ventilated vehicles. In 2020, more than 75 million cars were produced around the world. With the expansion of area of cities, people are spending more time in their vehicles for commuting to their work place, which is also one of the major factors pushing the sales of personal vehicles. Moreover, increasing preference for personal transport, instead of, public transport, is also contributing to the rise in sales of personal vehicles worldwide. With the increasing sales of vehicles and the growing focus on passenger safety and comfort, the demand for HVAC systems in vehicles is anticipated to increase significantly, and in turn drive the market growth.

Automotive HVAC Market

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The market is segmented by vehicle type into passenger vehicle, commercial vehicle, and others, out of which, the passenger vehicle segment is anticipated to hold the largest share in the global automotive HVAC market over the forecast period on account of growing share of passenger vehicles in the total vehicles being manufactured. In 2020, the sales of passenger cars contributed to over 75% of the total sale of vehicles. According to the data by the International Organization of Motor Vehicle Manufacturers, around 77.97 million units of cars were sold in 2020, out of which, over 53.598 million were passenger cars. CLICK TO DOWNLOAD SAMPLE REPORT

Global Automotive HVAC Market Regional Synopsis

On the basis of geographical analysis, the global automotive HVAC market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing sale of cars, backed by the growing population in the country. According to the data by India Brand Equity Foundation (IBEF), in 2019-20, the total passenger vehicles sales in India crossed 2.8 million units. Moreover, owing to the presence of major automobile manufacturers in countries, such as, Japan, India, and others, there is an increase in the demand for HVAC systems in the region. This is estimated to boost the market growth.

Automotive HVAC Market

The global automotive HVAC market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global automotive HVAC market includes the following segments:

By Components

  • Compressor
  • Condenser
  • Expansion Valve
  • Evaporator

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

Growth Drivers

  • Rising Sale of Passenger Cars
  • Growing Demand for Comfortable Ventilation in Cars

Challenges

  • Rising Adoption of Public Transport Owing to Climate Awareness amongst People

Top Featured Companies Dominating the Market

  • Sanden Holdings Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Visteon Corporation
  • Marelli Holdings Co., Ltd.
  • BorgWarner Inc.
  • Halla Climate Control Corp.
  • MAHLE Behr GmbH & Co. KG
  • Robert Bosch GmbH
  • Continental AG
  • VALEO
  • Denso Corporation

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