Latest News- Automotive HVAC Compressor Market: Passenger cars is expected to lead the Application segment during 2025-2029

The Automotive HVAC Compressor Market is being driven by Growing adoption of electric HVAC compressors

The Automotive HVAC Compressor Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 10088.4 million. The global automotive HVAC compressor market is experiencing robust growth, fueled by the expanding adoption of electric vehicles (EVs) in major markets such as India, Canada, the United Kingdom, and South Africa. In India, EV sales have witnessed remarkable growth, with approximately 1.6 million units sold in 2023, encompassing two-wheelers, three-wheelers, and four-wheelers. This trend continued into 2024, with sales exceeding 2 million units, bringing the cumulative total to over 5.6 million units. This surge in EV adoption is driving demand for sophisticated HVAC compressors that are energy-efficient and compatible with electric drivetrains. This market development is a significant opportunity for businesses involved in the manufacturing and supply of advanced HVAC compressors. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger cars
  • LCVs
  • MCVs and HCVs
• Type
  • Swash plate compressors
  • Scroll compressors
  • Rotary compressors
  • Reciprocating compressors
• Channel
  • OEM
  • Aftermarket
• Material
  • Belt-driven compressors
  • Electric-driven compressors
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing adoption of electric HVAC compressors
• Increasing demand for variable displacement compressors
• Increasing adoption of HVAC systems in trucks

However, the market also witnesses some limitations, which are as follows:

• High initial cost associated with automotive HVAC compressors
• Fluctuating prices of HVAC compressor raw materials
• Vehicle recalls due to potential HVAC compressor failure

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Market Scope in Automotive HVAC Compressor Market Research Report

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Research Analysis Overview

The Automotive HVAC (Heating, Ventilation, and Air Conditioning) Compressor Market encompasses components used in Passenger cars and Commercial vehicles. Notable players include Polestar, Cadillac, and manufacturers like Gentherm, Marelli Corporation, Hanon System, and Valeo. Technologies such as BLDC motors are driving innovation. The market caters to the Passenger cars segment and Commercial vehicles, including trucks, light-duty trucks, and pickup trucks. Variable Displacement and Fixed Displacement compressors are key components in HVAC systems for both vehicle types.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), and commercial vehicles (CVs). According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Key growth drivers in this sector include the escalating demand for electronic control units (ECUs) and other electronic components due to the increasing sales of PCs, EVs, and motorcycles over the past decade. This trend is particularly prominent in the automotive electronics segment, which is expected to experience significant growth in the coming years. Additionally, the increasing adoption of advanced driver-assistance systems (ADAS) and autonomous driving technologies in both PCs and CVs is expected to further fuel market expansion. Overall, the global automotive components and equipment market is poised for robust growth, driven by advancements in technology and the rising demand for more efficient and sustainable transportation solutions. Notable players in this market include Polestar, which specializes in the production of high-performance electric vehicles and related components.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/