Automotive HVAC Market 2023 – By Growth Rate, Sales, Production, Consumption Manufacturers, Shares And Outlook By 2032

The Automotive HVAC Global Market Report 2023 by The Business Research Company, provides automotive hvac market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Automotive HVAC Global Market Report 2023, the market size is expected to grow from$47.23 billion in 2022 to $51.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the automotive hvac is expected to grow to $72.51 billion in 2027 at a CAGR of 8.8%.

The increasing demand for luxury vehicles is expected to propel the growth of the automotive HVAC market going forward. A luxury vehicle is defined as a vehicle equipped with better performance capabilities, lavish interiors, and all the latest safety and technology features. In high-end luxury vehicles, the automotive HVAC system is essential to deliver a thermally comfortable environment for every passenger as per their requirements.

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The automotive hvac market is segmented:

1) By Component: Evaporator, Compressor, Condenser, Receiver/Drier, Expansion Device

2) By Technology: Manual, Automatic

3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Light Commercial Vehicle, Heavy Commercial Vehicle

Top Major Players
Denso Corporation
Air International Thermal Systems
Valeo
Hanon Systems
Calsonic Kansei Corporation

Product innovations are a key trend gaining popularity in the automotive HVAC market. Major market players are concentrating their efforts on creating innovative products with advanced technologies such as the introduction of automatic climate control that controls the temperature of the car; using green technologies to develop eco-friendly and energy-efficient automotive HVAC systems; and the adoption of eco-friendly refrigerants, among others. For instance, in July 2020, Hyundai Motor Group, a South Korea-based automotive manufacturing company, introduced new air-conditioning technologies known as After-Blow, Multi-Air Mode, and Fine Dust Indicator to create a more pleasant indoor environment in vehicle cabins by improving the quality of internal air. In automobiles, After-Blow Technology is used to prevent mold growth in the air-conditioning system, which can produce an odor in warm weather and dries the condensate on the evaporator. Whereas, in Multi-Air Mode Technology is used to produce a more comfortable indoor climate with a gentle wind with Multi-Air Mode uses numerous vents for air conditioning and heating. Moreover, the driver can better control the air quality using Fine Dust Indicator Technology, which measures the air within the car in real time and offers digitized information.

The automotive hvac market report table of contents includes:
1. Executive Summary
2. Automotive HVAC Market Characteristics
3. Automotive HVAC Market Trends And Strategies
4. Automotive HVAC Market – Macro Economic Scenario
5. Automotive HVAC Market Size And Growth
………………….
26. Africa Automotive HVAC Market
27. Automotive HVAC Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive HVAC Market
29. Automotive HVAC Market Future Outlook and Potential Analysis
30. Appendix

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