According to a new report, published by KBV research, The Global Automotive Climate Control Systems Market size is expected to reach $16.3 billion by 2031, rising at a market growth of 10.4% CAGR during the forecast period.
The Automatic segment is generating the highest the Global Automotive Climate Control Systems Market by Technology in 2023; thereby, achieving a market value of $10.6 billion by 2031. Automatic climate control systems offer convenience by automatically regulating cabin temperature, airflow, and humidity based on set preferences. This enhances passenger comfort and reduces the need for manual adjustments, which is particularly appealing to modern vehicle owners.
The Passenger Vehicle segment is registering a CAGR of 10 % during the forecast period. Passenger vehicle occupants, including drivers and passengers, expect a comfortable and controlled interior environment regardless of external weather conditions. Climate control systems enhance comfort by regulating temperature, airflow, and humidity. Passenger vehicles have a higher market penetration.
The Aftermarket segment led the Global Automotive Climate Control Systems Market by Distribution in 2023; thereby, achieving a market value of $10.5 billion by 2031. The compressor is essential for the operation of vehicle air conditioning systems. It plays a central role in compressing and circulating refrigerant throughout the system, which is crucial for cooling the cabin air effectively.
The Compressor segment is growing at a CAGR of 9.2 % during the forecast period. The compressor is essential for the operation of vehicle air conditioning systems. It plays a central role in compressing and circulating refrigerant throughout the system, which is crucial for cooling the cabin air effectively.
Full Report: https://www.kbvresearch.com/automotive-climate-control-systems-market/
The North America region dominated the Global Automotive Climate Control Systems Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.8 billion by 2031. The Asia Pacific region is anticipated to grow at a CAGR of 10.8% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 10.2% during (2024 - 2031).
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