Global Automotive Air Conditioning Market

Automotive Air Conditioning Market Size, Share, Growth Analysis, By Technology (Manual, Automatic), By Vehicle Type(Passenger Vehicle, Commercial Vehicle), By Component(Compressor, Evaporator), By Distribution Channel(Original Equipment Manufacturer (OEMs), Aftermarket) - Industry Forecast 2024-2031

Report ID: SQMIG25A2248 | Region: Global | Published Date: April, 2024
Pages: 221 | Tables: 115 | Figures: 73

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Automotive Air Conditioning Market size was valued at USD 32.2 Billion in 2022 and is poised to grow from USD 34.2 Billion in 2023 to USD 55.05 Billion by 2031, growing at a CAGR of 6.14% in the forecast period (2024-2031).

The automotive air conditioning market is highly competitive, with key players competing for market share through product differentiation, technological innovation and strategic partnerships Key companies operating in the market so include Denso Corporation, Valeo SA, Hanon Systems, MAHLE GmbH and Sanden Holdings Corporation. These players are aggressively investing in R&D to achieve advanced air conditioning solutions that meet regulatory requirements and meet the evolving needs of customers. Furthermore, working with automakers and their supplier production is critical to expanding market position and securing long-term growth opportunities. 'Air International Thermal Systems (U.S.)', 'Axetris AG (Switzerland)', 'CabinAir (Sweden)', 'Continental AG (Germany)', 'DENSO CORPORATION (Japan)', 'Freudenberg (Germany)', 'Hanon Systems (South Korea)', 'Magneti Marelli S.p.A. (Italy)', 'MAHLE GmbH (Germany)', 'MANN+HUMMEL (Germany)', 'Mitsubishi Electric Corporation (Japan)', 'PURAFIL, Inc. (U.S.)', 'Renesas Electronics Corporation (Japan)', 'Robert Bosch GmbH (Germany)', 'Eberspacher (Germany)', 'Valeo (France)'

Continuous expansion of the automobile industry, especially in developing economies, continues to drive demand for automotive air conditioners. Increasing disposable income and cities moving into larger sizes favors comfort and convenience more in air-conditioned vehicles. Experience seekers and Original Equipment Manufacturers (OEMs) are urged to include advanced air conditioning in their vehicles, thereby boosting the market.

Integration of Smart Connected Features: Integration of smart connected features into automotive air conditioning systems is leading the market to new heights. The major trend driving market innovation is the advancement in sensor technology, IoT connectivity, predictive analytics and real-time room temperature, air quality and at the discretion of the user. Provides control, thereby increasing the overall comfort and convenience of vehicle occupants. As connectivity becomes more ubiquitous in modern vehicles, it is expected that the demand for intelligent manufacturing solutions will increase, furthering market growth and differentiation.

The North America region is dominating the market significantly. Besides, the US. automotive air conditioning market held the largest market share, and the Canadian automotive air conditioning market is the fastest growing market in the North America region. North America has a strong auto industry, and the United States is one of the largest auto markets in the world. The presence of leading automotive manufacturers and suppliers drives the demand for air conditioners in the vehicles manufactured and sold in the region.

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Global Automotive Air Conditioning Market

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