Global Automotive HVAC System Market to Reach USD 71.1 Billion by 2033, Impelled by Rising Vehicle Production and Sales

November 01, 2024 | Automotive Industry

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According to the latest report by IMARC Group, titled "Automotive HVAC System Market Report by Component (Evaporator, Compressor, Condensor, Receiver-drier, Expansion Valve, and Others), Technology (Automatic, Manual), Vehicle Type (Passenger Car, Commercial Vehicle, Electric Vehicle), and Region 2025-2033," the global automotive HVAC system market size reached USD 45.0 Billion in 2024. The automotive heating, ventilation, and air conditioning (HVAC) system is a crucial component of modern vehicles that provides comfort and regulates the temperature, humidity, and air quality inside the vehicle cabin. It is integrated with a heating system that is responsible for warming the air inside the vehicle cabin by utilizing the engine's coolant system to transfer heat to the HVAC system. Additionally, it comprises an air conditioning system that is accountable for cooling and dehumidifying the air inside the vehicle via using a refrigeration cycle to remove heat and moisture from the cabin air. As a result, it is gaining widespread prominence across the globe as it ensures a pleasant driving experience for occupants in various weather conditions.

Global Automotive HVAC System Market Trends:

The global market is primarily driven by the increasing vehicle production and sales. Coupled with the number of vehicles on the road is increasing, there has been a considerable rise in the demand for automotive HVAC systems, which is creating a positive market outlook. Moreover, original equipment manufacturers (OEMs) and suppliers are constantly innovating and offering advanced HVAC solutions to meet the requirements of a growing market, which, in turn, is providing an impetus to the market. Additionally, the rising consumer demand for comfortable driving experiences is impacting the overall automotive HVAC systems as they play a crucial role in providing a comfortable cabin environment by regulating temperature, humidity, and air quality. Apart from this, continual technological advancements and the emergence of dual-zone or multi-zone climate control and personalized settings are significantly supporting the market on the global level. Furthermore, various regions with extreme weather conditions, such as very hot summers or cold winters, are propelling the demand for automotive HVAC systems to maintain a comfortable cabin temperature. Other factors, including considerable improvements in the automotive sector and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of USD 71.1 Billion by 2033, exhibiting a CAGR of 4.7% during 2025-2033.

Market Summary:

On the basis of the component, the market has been categorized into evaporator, compressor, condenser, receiver-drier, expansion valve and others.
Based on the technology, the market has been segmented into automatic and manual.
On the basis of the vehicle type, the market has been bifurcated into passenger car, commercial vehicle and electric vehicle.
Region wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Technology, Vehicle Type, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Automotive HVAC System Market to Reach USD 71.1 Billion by 2033, Impelled by Rising Vehicle Production and Sales

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