Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Size, Share, Growth, And Industry Analysis, By Type (Heating, Ventilation and Air Conditioning), By Application (Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles), and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global automotive heating, ventilation, and air conditioning (HVAC) compressor market size was USD 107.7 million in 2022. As per our research, the market is expected to reach USD 164.6 million in 2028, exhibiting a CAGR of 6.1% during the forecast period. The global Covid-19 pandemic has been unprecedented and staggering, with the automotive heating, ventilation, and air conditioning (HVAC) compressor market experiencing Higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The automotive heating, ventilation, and air conditioning (HVAC) compressor is a key component of the vehicle's HVAC system. It plays a crucial role in providing cool air during hot weather and heating during colder conditions. The compressor is responsible for compressing and circulating the refrigerant in the HVAC system.

The HVAC system utilizes a refrigerant, which is a specialized fluid with excellent heat transfer properties. The compressor takes low-pressure refrigerant gas from the evaporator coil, located inside the passenger compartment, and compresses it to high pressure.

COVID-19 Impact

"Pandemic Hamper the Demand of Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor to Market Growth "

The COVID-19 pandemic has had several impacts on the automotive industry, including the sector related to heating, ventilation, and air conditioning (HVAC) systems, which includes the HVAC compressor. The pandemic has caused disruptions in global supply chains, including the automotive industry. This disruption has affected the production and availability of HVAC components, including compressors. Manufacturing facilities faced shutdowns, reduced production capacities, and logistical challenges, leading to delays in the supply of automotive parts, including HVAC compressors.   

Latest Trends

"Electric HVAC Compressors Will Uplift Market Growth   "

 As electric and hybrid vehicles gain popularity, there is a growing demand for electric HVAC compressors. Unlike traditional compressors driven by an engine's belt, electric compressors run on electricity, which allows for more precise control and efficient operation. Electric compressors also eliminate the need for an engine belt, reducing engine load and improving fuel efficiency. 

Segmentation

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• By Type Analysis

According to type, the automotive heating, ventilation, and air conditioning (HVAC) compressor market can be segmented into heating, ventilation, and air conditioning.

In terms of type, heating is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the automotive heating, ventilation, and air conditioning (HVAC) compressor market can be divided into passenger cars, light commercial vehicles, medium and heavy commercial vehicles.  

In terms of application, the passenger cars market is projected to hold an automotive heating, ventilation, and air conditioning (HVAC) compressor market share through 2028.  

Driving Factors

"Energy Efficiency and Fuel Economy Will Drive Market Growth "

 Increasing energy efficiency and improving fuel economy are significant driving factors in the automotive industry. HVAC systems, including compressors, play a role in achieving these goals. Manufacturers strive to develop compressors that consume less power and minimize energy losses, ultimately contributing to improved overall vehicle fuel efficiency.

"Pandemics and Epidemics Will Fuel Market Growth  "

 Stringent environmental regulations and emissions standards drive the development of HVAC compressors. Automakers must comply with emissions standards set by regulatory bodies, which encourage the use of technologies that reduce greenhouse gas emissions and minimize environmental impact. Energy-efficient compressors contribute to reduced fuel consumption and lower emissions, aligning with these regulations.

Restraining Factors

"Cost Constraints Will Limit Market Growth "

 Cost is a significant factor in automotive manufacturing, and the cost of developing and implementing advanced HVAC compressors can be a restraining factor. The integration of new technologies, such as electric compressors or advanced filtration systems, can increase production costs, potentially impacting the affordability of vehicles.

Regional Insights

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"The North America Region will Dominate Market Due to Strong Demand of Irrigation "

In North America, the demand for HVAC compressors is driven by factors such as extreme weather conditions, consumer preferences for comfort features, and government regulations on vehicle emissions and fuel efficiency. There is a growing emphasis on energy-efficient HVAC systems, and the market is witnessing a shift towards electric compressors in hybrid and electric vehicles. Additionally, advancements in connectivity and smart HVAC technology are gaining traction in the region.

Europe has a significant focus on environmental sustainability and stringent emissions regulations. The region is witnessing increased adoption of electric and hybrid vehicles, which drives the demand for electric HVAC compressors. European automakers also prioritize advanced air quality features, such as efficient filtration systems, to address concerns about air pollution and allergens. Additionally, Europe has a strong emphasis on luxury and premium vehicles, leading to the integration of high-quality HVAC systems with advanced features.

Key Industry Players

"Adoption Recycling Services by Key Players Influencing Market Development"

The top key players in the automotive heating, ventilation, and air conditioning (HVAC) compressor market are DENSO Corp, MAHLE GmbH, Mitsubishi Heavy Industries Ltd., Toyota Industries Corp. Most of the top players hold the automotive heating, ventilation, and air conditioning (HVAC) compressor market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the automotive heating, ventilation, and air conditioning (HVAC) compressor market.  

List of Market Players Profiled

• DENSO Corp (Japan)
• MAHLE GmbH (Germany)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Toyota Industries Corp. (Japan)
• Valeo SA. (France)

Report Coverage

This report examines an understanding of the automotive heating, ventilation, and air conditioning (HVAC) compressor market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.