HVAC system is a basic equipment needed to control and maintain the internal temperature of the vehicle cabin. It comprises components such as compressor, condenser, expansion valve, and orifice tube. It helps in demisting, defrosting of windows, and eliminating dampness within the vehicle. The automotive HVAC system market is segmented on the basis of technology, vehicle type, component and region.
It includes three subsystems, namely, heating, cooling, and air conditioning, that work together to provide purified air to the vehicle cabin, ensuring thermal comfort to drivers and passengers. It controls the air temperature, inspects the moisture content in the air, and eliminates excessive humidity from the circulating air. Well-established companies, such as Audi, Mercedes, and BMW, focus on customized and consumer-friendly HVAC systems. For instance, the BMW 6 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the global automotive HVAC system market in 2019, whereas India is expected to grow at a significant rate in Asia pacific during the forecast period.
The global automotive HVAC system market is segmented based on technology, vehicle type, components and region. Automatic HVAC and manual HVAC are studied under the technology segment. Passenger car, commercial vehicles and electric vehicles are categorized under vehicle type. And evaporators, compressor, condenser, receiver-drier, expansion valve, and others are studied under the component type segment. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as Denso Corporation, Valeo services, Hanon Systems (HVCC), Calsonic Kansei Corporation, Sanden Holdings Corporation, Mahle GmbH, Johnson Electric, Sensata Technologies, Inc, Keihin corporation and Air International Thermal Systems are also provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Technology
By Vehicle Type
By Component
By Region
It includes three subsystems, namely, heating, cooling, and air conditioning, that work together to provide purified air to the vehicle cabin, ensuring thermal comfort to drivers and passengers. It controls the air temperature, inspects the moisture content in the air, and eliminates excessive humidity from the circulating air. Well-established companies, such as Audi, Mercedes, and BMW, focus on customized and consumer-friendly HVAC systems. For instance, the BMW 6 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the global automotive HVAC system market in 2019, whereas India is expected to grow at a significant rate in Asia pacific during the forecast period.
The global automotive HVAC system market is segmented based on technology, vehicle type, components and region. Automatic HVAC and manual HVAC are studied under the technology segment. Passenger car, commercial vehicles and electric vehicles are categorized under vehicle type. And evaporators, compressor, condenser, receiver-drier, expansion valve, and others are studied under the component type segment. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as Denso Corporation, Valeo services, Hanon Systems (HVCC), Calsonic Kansei Corporation, Sanden Holdings Corporation, Mahle GmbH, Johnson Electric, Sensata Technologies, Inc, Keihin corporation and Air International Thermal Systems are also provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the automotive HVAC system marketalong with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Technology
- Automatic
- Manual
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Electric Vehicle
By Component
- Evaporator
- Compressor
- Condenser
- Receiver-drier
- Expansion Valve
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE HVAC SYSTEM MARKET, BY TECHNOLOGY
CHAPTER 5: AUTOMOTIVE HVAC SYSTEM MARKET, BY VEHICLE TYPE
CHAPTER 6: AUTOMOTIVE HVAC SYSTEM MARKET, BY COMPONENT
CHAPTER 7: AUTOMOTIVE HVAC SYSTEM MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
Executive Summary
According to the report titled, 'Automotive HVAC System Market by Technology, Vehicle Type and Component: Global Opportunity Analysis and Industry Forecast, 2020-2027.' the global automotive HVAC system market was valued at $43.370 billion in 2019, and is projected to reach $68.188 billion by 2027, registering a CAGR of 5.8% from 2020 to 2027. By technology, the automatic technology segment was the highest revenue contributor in 2019, accounting for $24,623.57 million, and is estimated to reach $39,545.37 million by 2027, registering a CAGR of 6.1% during the forecast period. In 2019, Asia-Pacific was anticipated to account for major market share.The Asia-Pacific region is dominating the market in term of revenue, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the automotive HVAC system market in 2019, whereas India is expected to grow at a significant rate during the forecast period.
HVAC is the technology that is used for automotive cabin comfort for maintaining a pleasant temperature an ambient indoor condition in the vehicle. It is used to facilitate and manage the favorable and pleasant conditions inside the cabin by controlling the degree of the temperature. The basic operation of the HVAC system is convection and conduction. Heat is transferred from the region of low-temperature to the region of high-temperature in the vehicle due to pressure difference. Evaporator, condenser, compressor, and others are the major components of the HVAC system.
Consumers are increasingly spending on more comfort and luxury features in vehicles, propelling OEMs to integrate high-quality climate control systems. Manufacturers are investing in R&D to offer product differentiation in their products such as compact and lightweight HVAC systems. For instance, Denso has developed a novel COA HVAC based on a new blower structure that offers a reduction in heat required by the system by 30%, reducing size and power consumption by 20%. This will enable the company to offer HVAC systems to its clients, providing both environmental performance and energy efficiency. In addition, the growing concerns in consumers regarding indoor air quality are further creating several growth prospects for the automotive HVAC system market.
The automotive HVAC system market is driven by factors such as increase in vehicle production, rise in disposable income, and surge in sales of luxurious vehicles in developing countries. Moreover, increasing demand for thermal system and automatic climate control features in automobile is also propelling to the growth of automotive HVAC system market. However, high maintenance cost of HVAC system restrains the growth of the market. Furthermore, adoption of eco-friendly refrigerants and production of cheaper HVAC systems provides lucrative growth opportunity for the player operating in the automotive HVAC market.
According to Pranav Padalkar, Lead Analyst, Automotive and Transportation, “By technology, the automatic segment is dominating the market, in terms of revenue. In addition, by vehicle type segment, the electric vehicle segment dominated the automotive HVAC system market in 2019. Furthermore, by component type, compressor segment is expected to dominate the market in terms of revenue. Region-wise, Asia-Pacific is anticipated to be the highest revenue contributor, and the same region is expected to lead in the future, followed by Europe, North America and LAMEA.”
KEY FINDINGS OF THE STUDY
- In 2019, by technology, the automatic type segment generated the highest revenue.
- In 2019, by vehicle type, the electric vehicle segment was the highest revenue contributor.
- In 2019, by component, the compressor segment was the highest revenue contributor.
- In 2019,region-wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.
The key players analyzed in thereport include Denso Corporation, Valeo services, Hanon Systems (HVCC), Calsonic Kansei Corporation, S anden Holdings Corporation, Mahle GmbH, Johnson Electric, Sensata Technologies, Inc, Keihin corporation and Air International Thermal Systems.
Companies Mentioned
- Denso Corporation
- Valeo services
- Hanon Systems (HVCC)
- Calsonic Kansei Corporation
- Sanden Holdings Corporation
- Mahle GmbH
- Johnson Electric
- Sensata Technologies Inc
- Keihin corporation
- Air International Thermal Systems
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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