IMARC Group’s latest research report, titled “Automotive HVAC System Market Report: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” The global automotive HVAC system market reached a value of US$ 38.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 54.7 Billion by 2027, exhibiting a CAGR of 6.60% during 2022-2027. An automotive heating, ventilation, and air conditioning (HVAC) system is a vehicle unit that is used to maintain optimum temperature (hot or cold) for the interior atmosphere of a vehicle, thereby ensuring thermal comfort. Primarily comprising of three subsystems, primarily heating, cooling, and air conditioning, the system works to circulate purified air, regulate the air temperature, inspect the air moisture content by reducing excessive humidity. It consists of compressor, condenser, orifice tube, thermal expansion valve, receiver-drier, evaporator, pressure regulating devices, and accumulator.
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The market is primarily driven by the escalating demand for safe, comfortable, and advanced internal features in automobiles. This can be attributed to the rapid automation, along with the increasing automobile sales across the globe. In addition to this, the extensive adoption of eco-friendly refrigerants is creating a positive outlook for the market. Moreover, the rising trend of miniaturization of appliances resulting in the production of HVAC systems with reduced size and weight is also fueling the market. Some of the other factors contributing to the market include continual technological advancements, such as the integration of electronics and sensors with HVAC, the rising vehicle electrification rates and the increasing concerns regarding vehicle safety.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by component, technology and vehicle type.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Automotive HVAC System Market
- Strategies of major players and product offerings
Key Players Included in Global Automotive HVAC System Market Research Report:
- Denso Corporation
- Hanon Systems
- Highly Marelli
- Japan Climate Systems Corporation
- Johnson Electric Holdings Limited
- Mahle GmbH
- Mitsubishi Heavy Industries Ltd
- Sanden Corporation
- Sensata Technologies Inc and Valeo.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Component:
- Evaporator
- Compressor
- Condensor
- Receiver-drier
- Expansion Valve
- Others
Breakup by Technology:
- Automatic
- Manual
Breakup by Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Electric Vehicle
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Automotive HVAC Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Automotive HVAC System Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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