NEW YORK, Jan. 29, 2024 /PRNewswire/ — The automotive heating, ventilation, and air conditioning (HVAC) compressor market is estimated to grow by USD 6.32 billion from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 7.68% during the forecast period. However, the growth momentum will be progressing.APAC accounts for 55% of the growth during the forecast period. In APAC, the passenger cars segment witnesses almost 100% penetration of HVAC systems. Hence, it is the major revenue-generating segment for the automotive HVAC compressor market in APAC. The increasing penetration rate of HVAC systems in the commercial vehicles segment is also supporting the growth of the automotive heating, ventilation, and air conditioning compressor market in APAC.
Technavio has announced its latest market research report titled Global Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market 2024-2028
For more insights on the historic (2018 to 2022) and forecast size (2024 to 2028) – Request a Free sample report
Technavio has segmented the market based on application (passenger cars, LCVs, and MCVs and HCVs), type (swash plate compressors, scroll compressors, rotary compressors, and reciprocating compressors), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The passenger cars segment is estimated to witness significant growth during the forecast period. The penetration of automotive HVAC compressors in the passenger cars segment is almost 100%, as almost all automakers have started equipping their passenger cars with HVAC systems.
Key Insights and Questions Addressed:
1. How big is the (HVAC) Compressor Market?
2. What are the significant trends in the (HVAC) Compressor industry?
3. Who are the key players in the global (HVAC) Compressor industry?
Insights on the contribution of various segments including, country and region wise historic data (2018 to 2022) and forecast size (2024 to 2028) – Download a Free Sample Report
Increasing adoption of HVAC systems in trucks is the key factor driving growth. The global demand for trucks is on the upswing, with a notable increase in the adoption of light-duty trucks like pickup trucks and medium- to heavy-duty trucks across regions such as China, India, the US, and various European countries. This surge in demand underscores the potential for growth and expansion in response to the evolving preferences and needs of consumers in different parts of the world.
The increasing popularity of low-noise HVAC compressors is the primary trend shaping growth
Fluctuating prices of HVAC compressor raw materials is a challenge that affects growth
Find more insights in a sample report!
Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Applications
Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor applications are integral components in maintaining optimal cabin climate and comfort. These compressors come in various types, including Variable Displacement, Fixed Displacement, Electric Compressor, Reciprocating Compressor, Rotary Compressor, and Scroll Compressor. Catering to different vehicle types such as Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV), these systems operate with different refrigerant types like R134a, R1234yf, and CO2 (R744). The market is segmented into OEM (Original Equipment Manufacturer) and Aftermarket, witnessing continuous advancements in technology for enhanced energy efficiency and smart climate control.
Key Data Covered
CAGR during the forecast period
Detailed information on factors that will drive the growth between 2023 and 2028
Precise estimation of the size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth across APAC, Europe, North America, South America, and the Middle East and Africa
A thorough analysis of the competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth ofautomotive heating, ventilation, and air conditioning (HVAC) compressor players
Gain instant access to 17,000+ research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The automotive purge valve market size is forecast to increase by USD 973.87 million, at a CAGR of 4.7% between 2023 and 2028.
The automotive fleet leasing market size is forecast to increase by USD 9.20 billion, at a CAGR of 5.98% between 2023 and 2028.
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentation by Application
7 Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio