Asia Pacific Automotive Climate Control Systems Market

Asia Pacific Automotive Climate Control Systems Market Size, Share & Trends Analysis Report By Technology, By Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Electric Vehicle), By Distribution, By Component, By Country and Growth Forecast, 2024 - 2031

Report Id: KBV-23345 Publication Date: July-2024 Number of Pages: 135
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Market Report Description

The Asia Pacific Automotive Climate Control Systems Market would witness market growth of 10.8% CAGR during the forecast period (2024-2031).

The China market dominated the Asia Pacific Automotive Climate Control Systems Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,352.2 million by 2031. The Japan market is registering a CAGR of 10% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 11.5% during (2024 - 2031).

Asia Pacific Automotive Climate Control Systems Market

The market is not without its challenges. Cost is one of the most significant barriers to the widespread adoption of advanced climate control systems. These systems are expensive to develop and produce, incorporating high-tech components and requiring sophisticated manufacturing processes. The high price of advanced climate control systems can be prohibitive for mid-range and economy vehicles, where cost is critical.

Additionally, the complexity of maintaining and repairing advanced climate control systems poses a challenge. Maintenance and repair of these systems necessitate specialized knowledge and tools, which may incur high costs and be less accessible in certain regions. The availability of skilled technicians and service centres that can handle these advanced systems is limited, making it difficult for consumers to get the necessary support.

China boasts the world’s largest luxury car market. In June 2023, according to the China Association of Automobile Manufacturers (CAAM), automobile production and sales reached 2.561 million and 2.622 million units, respectively. This marked a month-on-month increase of 9.8% and 10.1% and a year-on-year increase of 2.5% and 4.8%. Luxury vehicles cater to discerning consumers who prioritize comfort and convenience. As a result, they are equipped with sophisticated HVAC systems featuring advanced technologies such as multi-zone climate control, air purification, and personalized settings. This drives the adoption of high-end climate control systems in luxury vehicle segments. The increasing sales of luxury vehicles expand the demand for automotive climate control systems in China. OEMs prioritize integrating premium HVAC systems into new luxury vehicle models, while aftermarket sales also thrive as vehicle ownership grows. Therefore, high demand for luxury vehicles and increasing aftermarket sales in the region drive the market's growth.

Free Valuable Insights: The Global Automotive Climate Control Systems Market is Predict to reach USD 16.3 Billion by 2031, at a CAGR of 10.4%

Based on Technology, the market is segmented into Automatic and Manual. Based on Vehicle Type, the market is segmented into Passenger Vehicle, Commercial Vehicle, and Electric Vehicle. Based on Distribution, the market is segmented into Aftermarket and OEM. Based on Component, the market is segmented into Compressor, Control & Sensor, HVAC, Evaporator, Condensor, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.

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List of Key Companies Profiled

  • Mahle GmbH (Mahle Stiftung GmbH)
  • Johnson Electric Holdings Limited
  • Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
  • Denso Corporation
  • Mitsubishi Heavy Industries Ltd.
  • OMEGA Environmental Technologies
  • Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
  • Valeo SA
  • Hitachi, Ltd.

Asia Pacific Automotive Climate Control Systems Market Report Segmentation

By Technology

  • Automatic
  • Manual

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle
  • Electric Vehicle

By Distribution

  • Aftermarket
  • OEM

By Component

  • Compressor
  • Control & Sensor
  • HVAC
  • Evaporator
  • Condensor
  • Others

By Country

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
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