According to a new report published by UnivDatos Markets Insights, the Automotive HVAC Market was valued at USD 49.12 billion in 2022 & is expected to grow at a CAGR of 6 % from 2022-2030. The analysis has been segmented into Emphasis on Technology Type (Manual, and Automatic); Vehicle Type (Passenger Cars, and Commercial Vehicles); Region/Country.

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The automotive HVAC market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive HVAC market. The automotive HVAC market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive HVAC market at the global and regional levels.

Key Market Dynamics

Rising vehicle sales and growing demand for extreme weather air conditioning systems globally are driving the growth of the global automotive HVAC market. Automotive HVAC systems are widely used due to the growing demand for improved performance, air quality, and environmental concerns. Growing demand for remote access control systems that improve air conditioning efficiency and reduce fuel consumption are the factors driving the market growth during the forecast period. In addition, various technological innovations, such as the introduction of energy-efficient and environmentally friendly automotive HVAC systems thanks to the increasing environmental awareness of the masses, are providing impetus for market development.

Moreover, major players in the market are developing eco-friendly products to comply with strict government emissions regulations. Energy efficiency is another growth driver for HVAC systems. Manufacturers are increasingly using green technologies to develop environmentally friendly and energy efficient automotive HVAC systems.

For instance, in November 2021, the Marelli Corporation developed an indoor air quality (IAQ) filtration system that kills bacteria and viruses in vehicles and indoor environments. This system uses UV-A and UV-C light combined with a titanium dioxide (TiO2) filter to remove airborne bacteria and viruses, including COVID-19, with an efficiency of 99.9 in 15 minutes. Market participants engage in mergers, acquisitions, and combinations to expand their presence in the market. For instance, in 2016, Denso partnered with Toyota to invent the Prius, a hybrid technology that promotes safety, fuel economy, and green technology in vehicles.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the automotive HVAC market. Sales of passenger cars and commercial vehicles fell in 2020. Moreover, there was a temporary closure of vehicle and component factories due to strict containment measures imposed by regional governments.

The global automotive HVAC market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on the technology type, the market is segmented into manual and automatic. The automatic category is expected to grow at a substantial CAGR during the forecasted period (2023-2030.

·        Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The passenger car category held a significant share of the market in 2022.

Automotive HVAC Market Geographical Segmentation Includes:

·        North America (U.S., Canada, and the Rest of North America)

·        Europe (Germany, U.K., France, Italy, Spain Rest of Europe)

·        Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific)

·        Rest of the World

The Asia-Pacific market is likely to witness tremendous growth due to the proximity of major automakers, large-scale vehicle generation, and growing demand for vehicles. in producing countries, such as India, Korea and China. Government auto business recovery is needed to stimulate the market next year. For instance, China’s Dual credit policy, which is set to replace the subsidized policy, is expected to be the key factor in the future of EV sales in China. Electric vehicles (EVs) in China are expected to account for around 25% of new vehicle sales in 2025.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the automotive HVAC market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

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Recent Developments:

·        In March 2022, Hanon Systems announced plans to build a new factory in Hubei, China, where the company will begin manufacturing HVAC modules and other electric vehicle (EV) products in early 2023.

·        In January 2022, Infineon Technologies introduced a complete system solution for the MOTIX Motor Control Unit. The pre-assembled kit provides everything needed to start the engine in seconds, a market-proven chipset combined with pre-flash sampling software as well as a BLDC motor. These kits have applications in auxiliary pumps, cooling fans, HVAC blowers, or any other application using three-phase low-voltage BLDC motors.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the automotive HVAC market?

• Which factors are influencing the automotive HVAC market over the forecast period?

• What are the global challenges, threats, and risks in the automotive HVAC market?

• Which factors are propelling and restraining the automotive HVAC market?

• What are the demanding global regions of the automotive HVAC market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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Target Audience:

·        Automotive HVAC Manufacturers

·        Automotive HVAC Service providers

·        Market-related associations, organizations, forums, and alliances

·        Government bodies, such as regulating authorities and policymakers

·        Venture capitalists, private equity firms, and start-up companies

·        Distributors and sales firms

·        Research institutes, organizations, and consulting companies

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