Global Automotive HVAC Market to Witness Rapid Growth by 2028

The global automotive HVAC market is anticipated to grow at a CAGR of 5.2% during the forecast period (2022-2028). The automotive HVAC market is predicted to grow due to an increase in demand for thermal comfort and increased safety as a result of the adoption of HVAC systems. One of the most crucial elements to consider when choosing a car is thermal comfort. The HVAC system ensures that the driver and passengers are in a comfortable temperature environment. The HVAC system not only enhances the thermal environment but also improves air conditioning efficiency, lowering fuel usage. With the incorporation of electronics, sensors, and automatic climate control features at a lower cost, HVAC units in passenger vehicles are becoming more popular. Air conditioning has become a basic necessity for private automobile rental companies such as Uber, Ola, Lyft, and Sidecar in order to improve client value proposition, which is expected to drive the global industry.

The automatic HVAC systems are gaining popularity that is boosting the market growth. The automatic HVAC system detects the outside ambient temperature and immediately turns on. A sensor measures the outdoor temperature and sends the information to a central electrical unit (CEU). The data containing the temperature readings of the automotive interiors is also sent to the CEU. The CEU compares the two temperatures and activates the HVAC system to bring the required temperature inside the vehicle to a level that is comfortable for the occupants. The system is also activated when the vehicle’s engine is started, and it necessitates continuous real-time temperature data from both the exterior and inside of the vehicle. Furthermore, rising income levels combined with a wide range of private financing options have made it easier for customers to spend more on private vehicles rather than public transportation. This could add to the growing need for vehicle HVAC technology, particularly in emerging countries such as India and China.

Prominent players’ products and technological capabilities will be enhanced by technology advancements and significant investments in R&D projects. Due to, the adoption of environmentally friendly refrigerants and the development of less expensive HVAC systems create profitable growth prospects for the automotive HVAC market’s participants. In 2019, Valeo Group Launched CO2 HVAC Unit for Electric Buses . It’s a roof-mounted, all-electric, zero-emission R744 (CO2) HVAC unit with a heat pump function, designed for buses with alternative motors (electric buses).

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Technology Type
  • By Vehicle Type
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- DENSO CORP., Hanon Systems, MAHLE GmbH, Marelli Holdings Co., Ltd., Valeo Group, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive HVAC Market Report by Segment

By Technology Type

• Manual/Semi-Automatic
• Automatic

By Vehicle Type

• Passenger Cars
• Commercial Vehicles