Automotive Climate Control Market Size, Share | Growth Report 2023-28
IMARC Group, a leading market research company, has recently releases report titled “Automotive Climate Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global automotive climate control market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the automotive climate control market?
The global automotive climate control market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What is automotive climate control?
Automotive climate control is an incorporated heating, ventilation, and air conditioning (HVAC) system that maintains the internal temperature of an automobile. It consists of a compressor that circulates the refrigerant and compresses the vapors, an evaporator to boil the refrigerant and absorb the heat, and a condenser to liquefy the refrigerant and reduce the temperature of the ambient air. Automotive climate control functions manually or automatically to maintain a comfortable temperature inside the cabin and provide thermal comfort through adequate ventilation. As a result, these systems are frequently used in passenger vehicles as well as various commercial vehicles.
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What are the growth prospects and trends in the automotive climate control industry?
The market is primarily driven by various technological innovations. Advancements like touchscreen controls, voice-activated systems, and energy-efficient designs have added significant value, making these systems more appealing to consumers. These features enhance comfort and contribute to energy conservation and, consequently, fuel efficiency. In addition, the increasing consumer awareness about air quality and the direct impact it can have on health and comfort is escalating the demand for vehicles equipped with advanced climate control systems that include air purifiers or allergen reducers. Besides, the rise of electric and hybrid vehicles, which leverage more efficient and integrated climate control systems to optimize battery usage represent another major growth-inducing factor.
Additionally, the integration of artificial intelligence (AI) and the Internet of Things (IoT) is setting the stage for smart climate control systems that can adapt to environmental conditions and individual preferences automatically. These technological trends, combined with rising consumer expectations for in-vehicle comfort, are providing a robust impetus for the expansion of the global automotive climate control market. Moreover, the overall growth of the automotive market, particularly in emerging economies, directly impacts the demand for advanced climate control systems. Furthermore, governments of various countries are setting stringent regulations to improve fuel efficiency, which is encouraging the development of more energy-efficient climate control systems, thus influencing the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Automatic
- Manual
Breakup by Component:
- Condenser
- Compressor
- Relays and Control Valves
- Evaporators and Thermostats
- Drier/Receiver
- Others
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Breakup by Distribution Channel:
- OEMs
- Aftermarket
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Air International Thermal Systems
- Calsonic Kansei Corporation
- Denso Corporation
- Eberspächer Group
- Hanon Systems
- Japanese Climate Systems Corporation
- Keihin Corporation, Mahle GmbH
- Sanden Holdings Corporation
- Subros Limited
- Valeo SA Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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