Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Automotive Climate Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The increasingly sophisticated automotive sector has observed a remarkable surge with the advent of technological integration and the rise in luxury vehicle demand. A recent market analysis reports a substantial growth trajectory for the global automotive climate control market, which achieved a valuation of US$ 10.1 Billion in 2022. This market is anticipated to expand further, reaching an impressive US$ 14.3 Billion by 2028, flourishing at a compound annual growth rate (CAGR) of 6.0% during the forecast period of 2022-2028.
The comprehensive assessment of the automotive climate control market elucidates the integral role of HVAC systems in enhancing vehicular comfort and maintaining optimal internal temperatures. These systems encompass advanced components such as evaporators, compressors, and condensers, essential for the efficient regulation of cabin conditions in vehicles including passenger cars, light-, medium-, and heavy commercial vehicles.
Economic affluence, alongside a booming automotive industry, primarily drives the market forward. The integration of automatic climate control in upscale vehicles has underpinned market performance, while manual climate control systems continue to be featured in the mid-range and budget vehicle sectors. The push towards sustainability is evident as H/EV manufacturers emphasize the utilization of eco-friendly refrigerants to mitigate carbon footprint levels.
Key Market Segments
- Technology: Automatic and Manual
- Component: including Condensers, Compressors, Relays, Control Valves, and more
- Vehicle Type: Spanning Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV)
- Distribution Channel: OEMs and Aftermarket
The report also provides an in-depth regional analysis highlighting North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa as significant market contributors.
Advancements and Innovations Propel Market Dynamics
Innovative sensors that can autonomously adjust cabin temperatures have become a focal point of research and development efforts in the industry, propelling market growth. The robust competitive landscape includes notable industry participants dedicated to advancing climate control solutions for automotive applications. Heightened consumer purchasing power and sustained R&D endeavors are expected to fuel advancements, pushing the market to new heights.
This latest analytical effort offers a meticulous examination of market trends, classifications, and industry dynamics, shaping strategic decision-making processes. The analysis addresses fundamental questions about the current state of the market, the influence of COVID-19, market segmentation, and the competitive scenario, thus providing a coherent outlook for stakeholders and industry participants.
The emphasis on thermal comfort, passenger convenience, and sustainable practices in vehicle manufacture has made automotive climate control systems an indispensable aspect of modern automobiles, setting the stage for continued growth and innovation in the sector.
Companies Mentioned
- 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 and Valeo SA Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ku31d2
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