Automotive HVAC Market size was valued at USD 57.29 billion in 2024 and is expected to reach USD 134.74 billion by 2037, registering around 6.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive HVAC is assessed at USD 60.6 billion.
The growth of the market can be attributed to the growing demand for automobiles, along with rising need for comfortable and well-ventilated vehicles. In 2020, more than 75 million cars were produced around the world. With the expansion of area of cities, people are spending more time in their vehicles for commuting to their work place, which is also one of the major factors pushing the sales of personal vehicles. Moreover, increasing preference for personal transport, instead of, public transport, is also contributing to the rise in sales of personal vehicles worldwide. With the increasing sales of vehicles and the growing focus on passenger safety and comfort, the demand for HVAC systems in vehicles is anticipated to increase significantly, and in turn drive the market growth.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.8% |
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Base Year Market Size (2024) |
USD 57.29 billion |
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Forecast Year Market Size (2037) |
USD 134.74 billion |
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Regional Scope |
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The market is segmented by vehicle type into passenger vehicle, commercial vehicle, and others, out of which, the passenger vehicle segment is anticipated to hold the largest share in the global automotive HVAC market over the forecast period on account of growing share of passenger vehicles in the total vehicles being manufactured. In 2020, the sales of passenger cars contributed to over 75% of the total sale of vehicles. According to the data by the International Organization of Motor Vehicle Manufacturers, around 77.97 million units of cars were sold in 2020, out of which, over 53.598 million were passenger cars.
Our in-depth analysis of the global automotive HVAC market includes the following segments
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By Components
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By Vehicle Type |
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On the basis of geographical analysis, the global automotive HVAC market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to account for largest revenue share by 2037, on the back of increasing sale of cars, backed by the growing population in the country. According to the data by India Brand Equity Foundation (IBEF), in 2019-20, the total passenger vehicles sales in India crossed 2.8 million units. Moreover, owing to the presence of major automobile manufacturers in countries, such as, Japan, India, and others, there is an increase in the demand for HVAC systems in the region. This is estimated to boost the market growth.
Author Credits: Saima Khursheed
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