According to TechSci Research report, “Automotive AC Compressor Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028” Global automotive AC compressor market is growing as the increased automobile production & sales and increased car ownership globally have resulted in market growth. Furthermore, the growing consumer demand for vehicle comfort, the increasing number of on-road cars globally, and the rise in demand for additional comfort features, are expected to accelerate market growth. The rising demand for electric cars in various sectors throughout the world helps to buffer the market’s expansion during the anticipated period. However, factors such as maintenance issues and other technical constraints will limit the market’s potential for growth. Similarly, government subsidies and incentives are promoting the adoption of electric vehicles. At the same time, the increase in the demand of the premium features by the consumers is influencing the market growth in the forecast period.
Most automotive AC compressors are consumed by the passenger car application sector. The rising demand for cars with high-tech comfort amenities, such air conditioning systems, is what propels this market sector. To keep drivers and passengers comfortable even in harsh weather, passenger vehicles are outfitted with air conditioning systems. The automotive AC compressors found in passenger cars are made to deliver effective cooling performance while enhancing fuel economy. Buses, vans, and other big commercial vehicles utilise refrigeration, air conditioning, and other temperature control systems.
The Asia Pacific region is leading in the Global Automotive AC Compressor Market. The presence of automotive key players in countries like India and China, increases in vehicle sales, quick installation of AC systems in passenger vehicles, rising buying power, and economic expansion are some of the important factors driving market growth in this area. The existence of innovative technologies, the increased use of hybrid and electric cars in north America and Europe, and the rising demand for AC systems for luxury and comfortable interiors is expected to make drive the market in North America and Europe.
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The Global Automotive AC Compressor Market can be segmented based on vehicle type, drive type, sales channel, design type, region, and company.
Based on vehicle type, the market is further segmented into passenger cars, light commercial vehicle (LCV), medium and heavy commercial vehicles (M&HCV). The passenger car segment is expected to have the major market share globally due to the higher demand in this category.
Based on Drive Type, the market is segmented into electric and conventional. Currently, the conventional drive type has most of the market share and in the forecast period the electric category is expected to have the highest CAGR because the demand and adoption of the electric vehicles is expected to rise. Similarly, by sales channel, the market is segmented into OEM and Replacement. The OEM category is expected to have the highest growth rate as the production of automobiles is increasing globally. Similarly, by design type, the market is segmented into reciprocating and rotary type. Based on the region the market is segmented into North America, Asia Pacific, Europe & CIS, South America, and Middle East & Africa, the Asia-pacific is the dominating globally, followed by North America, 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.
In this report, Global Automotive AC Compressor Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive AC Compressor Market, By Vehicle Type:
o Passenger Cars
o Light Commercial Vehicles (LCV)
o Medium and Heavy Commercial Vehicles (M&HCV)
Automotive AC Compressor Market, By Drive Type:
Automotive AC Compressor Market, By Sales Channel:
Automotive AC Compressor Market, By Design Type:
o Rotary Type
Automotive AC Compressor Market, By Region:
- South Korea
- United States
Europe & CIS
- United Kingdom
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