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Automotive HVAC Market - Growth, Trends, and Forecast (2020 - 2025)

The Automotive HVAC Market is segmented by Technology Type (Manual/Semi-Automatic and Automatic), Vehicle Type (Passenger Vehicles and Commercial Vehicles), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

6.46 %

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Market Overview

The automotive HVAC market is expected to register a CAGR of over 6.46%, during the forecast period, 2020-2025.

  • Some of the major factors driving the growth of the market studied are the higher adoption rate of automatic climate control features, an increase in the demand for thermal systems, and the usage of more eco-friendly refrigerants have been driving the studied market’s growth.
  • The Asia-Pacific region dominated the automotive HVAC market, followed by North America and Europe, and it is expected to witness a fast growth rate during the forecast period.
  • The future of HVAC is expected to witness significant developments, which include electronics and compressor designs. DuPont has developed a new technology in HVAC, which has been helping in eliminating the temperature-related problems in vehicles. The concern over refrigerant leakage into the atmosphere, which causes hazardous environmental effects, has laid roots for innovations to counter leakages.
  • The established players have been dominating the automotive HVAC market. Some of the major companies operating in the automotive HVAC market are Delphi Automotive, Denso Corporation, Mitsubishi, and Hanon Systems.

Scope of the Report

The automotive HVAC market has been segmented by technology type, vehicle type, and geography.

Technology Type
Manual/Semi-automatic
Automatic
Vehicle Type
Passenger Vehicles
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
United Arab Emirates
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Increasing Use of Eco -friendly Refrigerants

Growing concerns about global warming have slightly impacted the automotive HVAC market. Consequently, many nations worldwide, have started taking measures to reduce their carbon footprints.

According to the guidelines imposed by the European Union in 2013, vehicle refrigerants with a global warming potential greater than 150 in new passenger and commercial vehicles have been banned beginning January 1, 2017. Hence, the European automobile manufacturers were legally required to use an eco-friendly refrigerant in HVAC systems installed in the cars.

Not only Europe but also countries, such as Japan, China, and India, have supply agreements with manufacturers producing green refrigerants. Nations, like South Korea and Turkey, may witness a rapid increase in the application of eco-friendly refrigerants, owing to their inclination toward the average fuel economy standards of the EU.

Improving road infrastructure and rising disposable income of the middle-class group have been driving the automotive market in some developing countries.

The governments across the world have been taking initiatives to boost the passenger car sales by revising the tax rates, managing the inventory, etc., which may further contribute toward the growth of the HVAC market over the forecast period.

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High Growth Anticipated in the Asia-Pacific Region

Owing to the considerable growth in population, as well as economic development in countries like China, India, Japan, and ASEAN countries, the automotive industry in Asia-Pacific is projected to record growth at a faster pace.

According to a recent study by the International Energy Agency (IEA), passenger car ownership in India is expected to grow by 775% from 2016 to 2040. The Indian government has been aiming to make automobile manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026. Thus, the growing demand for cars, as well as a conducive environment for the automobile industry, is expected to boost the ancillary industries, which include HVAC systems.

Also, owing to the increasing luxury car market share, foreign luxury carmakers, such as Volkswagen, Volvo, and Audi, have been planning new investments in different Asia-Pacific countries, thereby, driving the advanced HVAC systems required for high-end cars. A surge in demand is expected for refrigerated vans, as cold supply chain management is also likely to witness a boost in demand.

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Competitive Landscape

The automotive HVAC market is consolidated, with the top global players accounting for most of the market share. The major companies in the air-conditioning market include MAHLE GmbH, DENSO Corporation, Mitsubishi Heavy Industries Ltd, and Hanon Systems. Mergers and acquisitions, partnership with regional HVAC equipment manufacturers, as well as establishing and ensuring tie-ups with car manufacturers are some of the dynamics shaping the competitive landscape of the market studied.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology Type

      1. 5.1.1 Manual/Semi-automatic

      2. 5.1.2 Automatic

    2. 5.2 Vehicle Type

      1. 5.2.1 Passenger Vehicles

      2. 5.2.2 Commercial Vehicles

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Saudi Arabia

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Valeo Group

      2. 6.2.2 Denso Corporation

      3. 6.2.3 MAHLE GmbH

      4. 6.2.4 Marelli Corporation

      5. 6.2.5 Sanden Corporation

      6. 6.2.6 Keihin Corporation

      7. 6.2.7 Japan Climate Systems Corporation

      8. 6.2.8 Mitsubishi Heavy Industries Ltd

      9. 6.2.9 Hanon Systems Corp.

      10. 6.2.10 Samvardhana Motherson Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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