According to the TechSci Research report titled “Automotive AC Compressor Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028,” the global automotive AC compressor market is experiencing growth due to increased automobile production, sales, and car ownership worldwide. The rising consumer demand for vehicle comfort, the growing number of on-road cars globally, and the increasing desire for additional comfort features are expected to drive market growth. Additionally, the rising demand for electric cars across various sectors worldwide contributes to the market’s expansion during the anticipated period. However, factors such as maintenance issues and technical constraints may limit the market’s potential for growth. Government subsidies and incentives are promoting the adoption of electric vehicles, while the increasing demand for premium features by consumers is also influencing market growth in the forecast period.
The majority of automotive AC compressors are used in the passenger car application sector. This market segment is driven by the increasing demand for cars equipped with high-tech comfort amenities, such as air conditioning systems, to ensure driver and passenger comfort even in harsh weather conditions. AC compressors in passenger cars are designed to deliver effective cooling performance while enhancing fuel economy. Buses, vans, and other large commercial vehicles utilize refrigeration, air conditioning, and other temperature control systems.
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The Asia Pacific region leads the Global Automotive AC Compressor Market. Factors such as the presence of automotive key players in countries like India and China, increasing vehicle sales, quick installation of AC systems in passenger vehicles, rising buying power, and economic expansion contribute to market growth in this area. The adoption of innovative technologies and the increased use of hybrid and electric cars in North America and Europe, along with the rising demand for AC systems for luxury and comfortable interiors, are expected to drive the market in those regions.
The Global Automotive AC Compressor Market can be segmented based on vehicle type, drive type, sales channel, design type, region, and company. In terms of vehicle type, the passenger car segment is expected to hold the major market share globally due to higher demand in this category. The market is further segmented into electric and conventional drive types, with the electric category projected to have the highest CAGR during the forecast period due to the expected rise in demand and adoption of electric vehicles. The OEM category is expected to have the highest growth rate by sales channel, driven by the increasing global production of automobiles. The market is also segmented into reciprocating and rotary types based on design. Geographically, the market is segmented into North America, Asia Pacific, Europe & CIS, South America, and the Middle East & Africa, with the Asia-Pacific region dominating globally, followed by North America and Europe.
Some of the major companies operating in the Global Automotive AC Compressor Market include:
- Behr Hella Service GmbH
- Calsonic Kansei Corporation
- Continental AG
- Delphi Technologies
- Denso Corporation
- Hahn & Co Auto Holdings Co Ltd.
- Subros Limited
- Robert Bosch Gmbh
These are the key players developing and launching new products to stay competitive in the market. To increase the customer outreach, the companies are investing in the research and development activities. These companies are focusing on meeting the regulations of different regional governments to stay competitive in the global market.
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“The rising penetration of electric vehicles globally and the change in the consumer behavior towards safety and features in the vehicles is expected to drive the market in the coming year. Similarly, the growth of the overall automobile industry and the technological advancement in the industry is also influencing market growth in the Global Automotive AC Compressor Market. The growth in the market is linked with the growth of the automobile industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Automotive AC Compressor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F. Segmented By Vehicle Type (Passenger Cars, Light Commercial Vehicle (LCV), Medium and Heavy Commercial Vehicles (M&HCV)), By Drive Type (Electric and Conventional), By Sales Channel (OEM and Replacement), By Design Type (Reciprocating Type and Rotary Type), and By Region” has evaluated the future growth potential of Global Automotive AC Compressor Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive AC Compressor Market.
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