Qualitative and quantitative insights were obtained by interviewing supply-side and demand-side stakeholders during the primary research process. The supply-side sources consist of CEOs, CTOs, VPs of Engineering, global leaders of Thermal Systems, and directors of Product Development from Tier 1 HVAC manufacturers, compressor suppliers, and automotive thermal management solution providers. Demand-side sources included the heads of Procurement and HVAC commodity buyers from major OEMs (Original Equipment Manufacturers), fleet managers from commercial vehicle operators, directors of Aftermarket Services, and engineering leaders from electric vehicle manufacturers. The primary research validated market segmentation across fuel types and vehicle categories, confirmed technology roadmap timelines, and gathered insights on the adoption patterns of heat pump systems in EVs, refrigerant transition strategies (R-1234yf, CO2, R-744), pricing dynamics for compressors and heat exchangers, and supply chain strategies for thermal management components.
Primary Respondent Breakdown:
By Company Tier: Tier 1 (38%), Tier 2 (35%), Tier 3 (27%)
By Designation: C-level Primaries (40%), Director Level (32%), Others (28%)
By Region: North America (32%), Europe (30%), Asia-Pacific (28%), Rest of World (10%)
[Note: Tier 1 = >USD 10B revenue; Tier 2 = USD 1B-10B; Tier 3 =
Global market valuation was derived through revenue mapping and vehicle production volume analysis. The methodology included:
Identification of over 50 critical Tier 1 and Tier 2 suppliers in North America, Europe, Asia-Pacific, and Latin America
Product mapping across conventional HVAC systems, heat pump technologies, ventilation systems, and thermal management systems for electric vehicles
Component-level analysis covering compressors, evaporators, condenser units, expansion valves, and electronic control modules
Analysis of reported and modeled annual revenues specific to automotive HVAC and thermal management portfolios
Coverage of manufacturers representing 75-80% of global market share in 2024
Extrapolation using bottom-up (vehicle production volume × HVAC system ASP by region and fuel type) and top-down (supplier revenue validation) approaches to derive segment-specific valuations across passenger vehicles, commercial vehicles, and heavy-duty applications