Automotive HVAC Market Overview:
According to Grand View Research, Global automotive HVAC market size was USD 51.16 billion in 2023 and is expected to grow at a CAGR of 6.7% during 2024-2030. Increased demand for passenger comfort and safety features in cars has driven the use of sophisticated HVAC systems.
The trend among consumers is to look for cars with high-performance climate control systems, boosting the automotive HVAC market. Also, the rise in electric and hybrid cars has created a high demand for energy-efficient HVAC technology, further contributing to market expansion.
Luxury car manufacturers are investing more in premium HVAC technologies to provide customers with high levels of comfort and convenience features. These features include high-end offerings like multi-zone climate control systems, ventilated seats, and high-end air purification solutions.
The increasing consumer demand for luxury cars, based on increased disposable incomes and a need for superior experiences, fuels the market for advanced HVAC systems. Luxury car makers, in their bid to innovate and offer better products, contribute to the automotive HVAC market through the growing penetration of high-end climate control technologies.
There are now contemporary global automotive HVAC market installed in vehicles that come with HEPA filters, activated carbon filters, and ionizers that efficiently clean pollutants, allergens, and odors from the cabin air.
In addition, improvements in air quality sensors and real-time air quality monitors are becoming common features in latest models. This increased emphasis on air quality management not only benefits passenger health but also stimulates automotive HVAC market growth as companies look to integrate these technologies into their offerings.
Technology Insights
The automatic segment was the market leader and held a market revenue share of 62.1% in 2023. The growing need for convenience and comfort in contemporary vehicles has driven the integration of sophisticated HVAC systems in automatic vehicles.
Customers are looking for cars with automated climate control systems that can regulate temperature and airflow without human intervention, thereby fueling the growth of automotive HVAC in automatic vehicles.
Vehicle Insights
Passenger vehicles held the highest market revenue share of in 2023. This is due to the increasing need for convenience features in private cars. Heating, ventilation, and air conditioning systems ensure precise temperature management and better air quality, offering drivers a more comfortable driving experience.
Customers prioritize comfort by choosing features such as automatic climate control, while safety features like defogging and dehumidifying. Growth in disposable incomes fuels investment in these attributes, which translates to growth in automobile ownership in emerging markets and enhanced HVAC demand.
Regional Insights
North America global automotive HVAC market possessed a significant market 2023. North American consumers place increasingly high priorities on comfort and convenience in their cars, and HVAC systems are important to fulfill these expectations.
Today’s consumers want advanced features like dual-zone and tri-zone climate control, heated and ventilated seats, and automated systems. They increase comfort and personalization, which are much sought after in the competitive North American automotive market.
Key Automotive HVAC Company Insights
Some of the most important companies in the automotive HVAC industry Denso Corporation, Valeo, MAHLE GmbH, Hanon Systems, and Sanden Holdings Corporation. Companies are emphasizing growing their customer base in order to compete in the industry. Hence, key players are undertaking a number of strategic steps, including mergers and acquisitions, and alliances with other big companies.
Denso Corporation offers a range of passenger comfort and climate control components and systems. It provides key components including compressors, condensers, evaporators, blowers, and controls.
In addition, Denso encourages innovation through technologies like the compact COA HVAC system as well as electric heating systems tailored to electric vehicles, potentially with additional features such as air filters and control components.
MAHLE GmbH offers vital components for engine efficiency and passenger comfort. Their offerings include air intake modules with charge air cooling for efficiency and high-performance filters for clean intake air to the engine.
Additionally, they provide temperature-control components such as thermostats and air-conditioning components like condensers, evaporators, and compressors. Additionally, the firm also offers electric components like blow-by heaters and wastegate actuators that assist in improving the overall efficiency of the system.
