Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Automotive HVAC Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest research publication analyzes the global trends and growth opportunities in the automotive heating, ventilation, and air conditioning (HVAC) market. The report provides comprehensive insights into the dynamics and future prospects of the industry, highlighting significant developments within the Asia-Pacific region, which continues to dominate the market landscape.
The comprehensive analysis indicates that the automotive HVAC industry is evolving rapidly, with a projected market size growth from $51.88 billion in 2023 to $77.05 billion by 2028, at a compound annual growth rate (CAGR) of 8.2%. This expansion reflects the industry’s response to the growing demand for vehicle climate comfort and advancements in automotive technology.
The market research delves into the main factors propelling the automotive HVAC market forward, emphasizing the escalation in luxury vehicle sales and the burgeoning demand for electric vehicles (EVs). These sectors are pivotal in driving innovation and adoption of HVAC systems designed to maintain optimal thermal comfort and air quality.
An in-depth examination of market trends reveals a growing shift towards product innovation among major industry players, with a focus on green technology and energy efficiency. Notable developments entail automatic climate control systems and the introduction of eco-friendly refrigerants. Such innovations reflect the industry’s commitment to sustainability and enhanced passenger comfort.
Noteworthy Market Trends and Observations:
- Electric Vehicles (EVs): Considerable investment and innovation in the design of HVAC systems for EVs are recognized, supporting the need for efficient climate control that conserves battery life and extends vehicle range.
- Asia-Pacific Market Leadership: Asia-Pacific's commanding hold on the global market is backed by strong automotive manufacturing outputs and technological advancements across the region.
- Luxury Vehicles Demand: As luxury vehicles continue to integrate advanced climate control features, demand for sophisticated automotive HVAC systems is projected to rise correspondingly.
- Product Enhancements: Industry leaders are investing in smart, connected HVAC systems and adopting cabin sensing and AI technologies for improved system performance and user experience.
The automotive HVAC market report covers the landscape across various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, with a focus on countries like Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
This research is designed to provide industry participants, stakeholders, and others interested in the sector with a comprehensive understanding of the current state and future directions of the global automotive HVAC market. The detailed analysis encompasses a broad range of market components, from revenue generation and regional market dominance to specific product innovations and strategic corporate developments within the sector.
Companies Profiled
- Denso Manufacturing Tennessee Inc.
- Air International Thermal Systems
- Valeo Thermal Systems
- Hanon Climate Control Corp.
- Calsonic Kansei North America Inc.
- Johnson Electric Holdings Ltd.
- Sanden Holdings Corporation
- Sensata Technologies Inc.
- Marelli Corporation
- OMEGA Environmental Technologies
- Delphi Automotive LLP.
- Visteon Corp.
- Trans/Air Manufacturing Corp.
- Toyota Industries Corporation
- Xiezhong International Holdings Limited.
- Mitsubishi Heavy Industries Ltd
- Behr GmbH & Co. KG
- Subros Limited
- Webasto SE
- Red Dot Corporation
- Eberspaecher Climate Control Systems GmbH & Co. KG
- DelStar Technologies Inc.
- Nippon Seiki Co. Ltd.
- Keihin North America Inc.
- Modine Manufacturing Company
- Zhejiang Yinlun Machinery Co. Ltd.
- Bergstrom Inc.
- MAHLE Behr GmbH & Co. KG
- The Keihin Corporation
- Eberspächer Group
- Gentherm
For more information about this report visit https://www.researchandmarkets.com/r/y0skeq
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