Automotive AC Compressor Market Size, Share, Growth Report 2030

Automotive AC Compressor Market

Automotive AC Compressor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Automotive Report Format : PDF Report Code: ZMR-5903 Status : Upcoming

The compressor of the car is the power unit of the air conditioning system. Before the compressor pumps the refrigerant into the condenser, it puts it under high pressure and changes it into the liquid from the gas. For the air conditioning system, a fully functioning compressor is essential to provide peak performance. Air conditioning systems have not only been essential for cars but also for buses and other passenger cars.

Automotive AC Compressor Market

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Global Automotive AC Compressor Market: Overview

The compressor of the car is the power unit of the air conditioning system. Before the compressor pumps the refrigerant into the condenser, it puts it under high pressure and changes it into the liquid from the gas. For the air conditioning system, a fully functioning compressor is essential to provide peak performance. Air conditioning systems have not only been essential for cars but also for buses and other passenger cars.

Global Automotive AC Compressor Market: Growth Factors

The global automotive AC compressor market is growing at a rapid rate. Factors such as the rapidly growing automotive sector, increase in conversion of passenger vehicles & buses into AC vehicles in developing countries like India, and growing demand for HVAC systems in the vehicles for better & comfortable experience during a commute are fostering the growth of the global automotive AC compressor market. Since the early days of automotive assembly, on the countless front, air compressors have made people's life much easier. With the advancement in technologies, the production of cars became easy and cheap. This led to a rise in the sales of the vehicles which in turn is boosting the growth of the market. In addition to this, the rise in disposable income, increase in purchasing power, and growing economic values in the developing countries are also some of the factors that are contributing to the rise in demand for vehicles thereby driving the growth of the global market. Furthermore, the emergence of electric & hybrid vehicles and the rise in technological advancements may lead to ample opportunities for the growth of the global automotive AC compressor market during the forecast period. However, high cost and maintenance issues are some of the factors that may hinder the growth of the global automotive AC compressor market.

The automotive sector is been severely hit by the Covid-19 pandemic. The sudden decision of complete lockdown and strict restrictions on movement by the government to control the spread of the disease enforced the automotive sector to shut down all their operations. This hampered the production of the vehicles. In addition to this, the disruption in the supply chain led to a scarcity of raw materials. This hampered the production of the vehicles. Moreover, a decline in the sales of the vehicles is been observed due to a change in consumer behavior and their spending towards the essential goods during the pandemic. Owing to all such factors with the decrease in demand for vehicles, the demand for automotive AC compressors also decreased. This affected the growth of the global automotive AC compressor market amid the Covid-19 pandemic.

Global Automotive AC Compressor Market: Segmentation

The global automotive AC compressor market is classified based on product type, vehicle type, design, sales channel, drive, and region. Based on the product type, the global automotive AC compressor market is categorized into the electric compressor, fixed displacement, and variable displacement. Based on the vehicle type, the global market is bifurcated into heavy commercial vehicles, light commercial vehicles, and passenger cars. The design segment is split into rotary and reciprocating. The sales channel is divided into aftermarket and OEMs. Based on the drive, the market is fragmented into electric driven and belt-driven.

Global Automotive AC Compressor Market: Regional Analysis

Geographically, Asia Pacific region is estimated to dominate the global automotive AC compressor market. The presence of automotive key players in countries like India & China, rise in sales of the vehicles, rapid installation of AC systems in the passenger vehicles, growing purchasing power, and rise in economies are some of the key features that are spurring the growth of the market in this region. North America is anticipated to contribute to a significant share in the market due to the presence of advanced technologies, increase in adoption of hybrid & electric vehicles, and growing demand for AC systems for luxurious & comfortable interior. The market in Europe is also expected to account for a significant share of the market growth.

Global Automotive AC Compressor Market: Competitive Players

Some of the major players operating in the global automotive AC compressor market are Aotecar New Energy Technology Co., Ltd., Hanon Systems, Nissens, Denso Corporation, Standard Motor Product Inc., SANDEN, Automotive Thermal Systems Co., Ltd., Toyota Industries, MAHLE, and Mitsubishi Heavy Industries, among others.

Global Automotive AC Compressor Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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Factors such as the rapidly growing automotive sector, increase in conversion of passenger vehicles & buses into AC vehicles in developing countries like India, and growing demand for HVAC systems in the vehicles for better & comfortable experience during a commute are fostering the growth of the global automotive AC compressor market. Furthermore, the emergence of electric & hybrid vehicles and the rise in technological advancements may lead to ample opportunities for the growth of the global automotive AC compressor market during the forecast period.

Some of the major players operating in the global automotive AC compressor market are Aotecar New Energy Technology Co., Ltd., Hanon Systems, Nissens, Denso Corporation, Standard Motor Product Inc., SANDEN, Automotive Thermal Systems Co., Ltd., Toyota Industries, MAHLE, and Mitsubishi Heavy Industries, among others.

Geographically, Asia Pacific region is estimated to dominate the global automotive AC compressor market. The presence of automotive key players in countries like India & China, rise in sales of the vehicles, rapid installation of AC systems in the passenger vehicles, growing purchasing power, and rise in economies are some of the key features that are spurring the growth of the market in this region.

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