How big is the Automotive HVAC Market?

The Automotive HVAC Market size is expected to reach USD 64.95 billion in 2024 and grow at a CAGR of 6.46% to reach USD 88.82 billion by 2029. Read More

What is the current Automotive HVAC Market size?

In 2024, the Automotive HVAC Market size is expected to reach USD 64.95 billion. Read More

Who are the key players in Automotive HVAC Market?

DENSO Corporation, MAHLE GmbH, Valeo Group, Hanon Systems Corp. and Marelli Corporation are the major companies operating in the Automotive HVAC Market. Read More

Which is the fastest growing region in Automotive HVAC Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive HVAC Market?

In 2024, the Asia-Pacific accounts for the largest market share in Automotive HVAC Market. Read More

What years does this Automotive HVAC Market cover, and what was the market size in 2023?

In 2023, the Automotive HVAC Market size was estimated at USD 61.01 billion. The report covers the Automotive HVAC Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Automotive HVAC Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive HVAC Market Report | Industry Analysis, Size & Forecast Overview

Automotive HVAC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Automotive HVAC Manufacturers and the Market is segmented by Technology Type (Manual/Semi-Automatic and Automatic), Vehicle Type (Passenger Cars and Commercial Vehicles), and Geography (North America, Europe, Asia- Pacific, South America, and Middle-East and Africa). The report covers the market size in value (USD Billion) for all the above segments.

Automotive HVAC Industry Overview

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, partnerships with regional HVAC equipment manufacturers, and establishing and ensuring tie-ups with car manufacturers are some of the dynamics shaping the market's competitive landscape. For instance:

In November 2021, Hanon System inaugurated its two new establishments in Hungary - a new greenfield production facility in Pécs and a building expansion in Rétság. The facility provides 22,464 square meters of manufacturing space and accommodates equipment including forming, brazing, welding and bending, assembly lines and testing for automotive air conditioning (A/C) lines.
In August 2021, Valeo announced New Valeo heat pump that procures two-thirds of its energy demand from the ambient air, thereby limiting the need to draw energy from the onboard batteries, and uses a natural refrigerant. EVs equipped with the device can travel up to 30% further at -15°C than those fitted with more conventional heating systems.
In February 2021, Highly Marelli Holdings Co., Ltd., a previously announced joint venture between Highly International (Hong Kong) Limited and Marelli Corporation K.K., has been formed. Highly Marelli will concentrate on providing world-class solutions for clients and suppliers in the areas of compressor electrification, heat pump systems, heating, ventilation, and air conditioning ("HVAC") and electric driven compressor ("EDC") systems.