Automotive HVAC - Global Market Insights and Sales Trends 2024

What is Automotive HVAC - Global Market?

Automotive HVAC, or Heating, Ventilation, and Air Conditioning, is a technology that is integral to the automotive industry. It is a system that provides comfort to passengers by maintaining the desired temperature inside the vehicle. The global market for Automotive HVAC was valued at a significant US$ 25770 million in 2022. This market is expected to grow and reach a value of US$ 31120 million by 2029. This growth is projected at a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period of 2023-2029. The market concentration for Automotive HVAC is relatively high, with the top four manufacturers, namely Denso, Hanon Systems, Valeo, and MAHLE Behr, occupying more than 50% of the market share.

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Manual HVAC, Automatic HVAC in the Automotive HVAC - Global Market:

The Automotive HVAC market can be segmented into Manual HVAC and Automatic HVAC. Manual HVAC systems are those where the user manually adjusts the temperature settings, while Automatic HVAC systems adjust the temperature automatically based on the input provided by the sensors. The Automatic HVAC systems are gaining popularity due to their ease of use and advanced features. However, the Manual HVAC systems still hold a significant market share due to their cost-effectiveness and wide usage in budget vehicles.

Passenger Vehicle, Commercial Vehicle in the Automotive HVAC - Global Market:

The Automotive HVAC systems find their usage in both Passenger Vehicles and Commercial Vehicles. In Passenger Vehicles, the HVAC system is used to provide a comfortable and pleasant environment for the passengers. The demand for HVAC systems in Passenger Vehicles is high due to the increasing demand for comfort and luxury features in vehicles. On the other hand, in Commercial Vehicles, the HVAC system is used to provide a comfortable working environment for the driver. The demand for HVAC systems in Commercial Vehicles is driven by the increasing need for driver comfort and safety.

Automotive HVAC - Global Market Outlook:

To rephrase the market outlook for the Automotive HVAC - Global Market, it can be said that the market was valued at a substantial US$ 25770 million in 2022. It is projected to grow and reach a value of US$ 31120 million by 2029, growing at a CAGR of 2.7% during the forecast period of 2023-2029. The market is dominated by the top four manufacturers, Denso, Hanon Systems, Valeo, and MAHLE Behr, who collectively hold more than 50% of the market share.

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Report Metric	Details
Report Name	Automotive HVAC - Market
Forecasted market size in 2029	US$ 31120 million
CAGR	2.7%
Forecasted years	2023 - 2029
Global Automotive HVAC market, by region:	North America (U.S., Canada, Mexico) Europe (Germany, France, UK, Italy, etc.) Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.) South America (Brazil, etc.) Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Automotive HVAC market, Segment by Type:	Manual HVAC Automatic HVAC
Global Automotive HVAC market, by Application	Passenger Vehicle Commercial Vehicle
Forecast units	USD million in value
Report coverage	Revenue and volume forecast, company share, competitive landscape, growth factors and trends