Automotive AC Compressor Market To Gain Massive Proceeds By 2026
Global automotive AC compressor market is slated to observe a period of respectable growth in coming years owing to the rapidly increasing adoption of air conditioning solutions in passenger vehicles across developing economies. Additionally, technological advancements, growing investments, and surging research and development activities in the automotive AC compressors should positively outline the overall market expansion.
Market players are increasingly focusing on developing more lightweight and compact automotive AC compressors to effectively enhance fuel efficiency, and cut down on carbon emissions. Taking June 2020 for instance, DENSO, a renowned Japanese automotive manufacturer, reportedly opened a new Electrification Innovation Center at the company’s Anjo, Aichi plant in Japan. This move backs the firm’s aggressive push towards developing and manufacturing electrified automotive products, technologies, and systems.
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On the regional front, the North America automotive AC compressor market is projected to observe significant growth led by the U.S. In 2019, the region held a crucial 15% share of the overall market. An upsurge in automotive manufacturing as well as growing electric vehicle product sales are the prime factors augmenting regional market expansion. Likewise, the growing penetration of AC systems in heavy commercial vehicles should impel the AC compressor demand further over the coming years.
Meanwhile, growing automotive production is slated to augment the Asia Pacific automotive AC compressor market over the coming years. Similar to North America, rapidly rising penetration of air conditioning systems in heavy commercial vehicles across several APAC countries is stimulating the regional market share.
With respect to drive, the belt-driven segment is forecast to witness momentous business growth owing to the higher production of IC engine vehicles globally. In fact, the segment is projected to expand at a CAGR of more than 3.5% through the forthcoming timeframe. Belt driven compressors require the engine’s help for their operations instead of relying on an additional power source, which results in increased product adoption. In addition, these compressors are also highly cost effective, which further impels their adoption across automobiles and drives segment revenues.
Steadily growing vehicle sales across the globe would be one of the major determinants responsible for fostering the demand for automotive AC compressors over the coming years. The automotive industry is suffering immense losses due to the COVID-19 fueled national lockdowns. However, with hopes of an early vaccine entering the market by 2021, the industry is projected to bounce back in the coming future.
The competitive landscape of the automotive AC compressor market is inclusive of players such as Valeo, Marelli Corporation, Aotecar New Energy Technology Co., Ltd, Standard Motor Product Inc., MAHLE, Hanon Systems, SANDEN, Subros, Nissens, Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd., Denso Corporation, and Toyota Industries among others.
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Partial Chapter of the Table of Content
Chapter 5 Automotive AC Compressor Market, By Type
5.1 Global market insights, by Type
5.2 Variable Displacement
5.2.1 Global market estimates and forecasts, 2016 - 2026
5.2.2 Market estimates and forecast, by region, 2016 - 2026
5.3 Fixed Displacement
5.3.1 Global automotive AC compressor market estimates and forecasts, 2016 – 2026
5.3.2 Market estimates and forecast, by region, 2016 – 2026
5.4 Electric Compressor
5.4.1 Global market estimates and forecasts, 2016 – 2026
5.4.2 Market estimates and forecast, by region, 2016 - 2026
Chapter 6 Automotive AC Compressor Market, By Drive
6.1 Global market insights, by Drive
6.2 Belt Driven
6.2.1 Global market estimates and forecasts, 2016 - 2026
6.2.2 Market estimates and forecast, by region, 2016 - 2026
6.3 Electric Driven
6.3.1 Global market estimates and forecasts, 2016 - 2026
6.3.2 Market estimates and forecast, by region, 2016 – 2026
Chapter 7 Automotive AC Compressor Market, By Sales Channel
7.1 Global market insights, by sales channel
7.2 OEM
7.2.1 Global market estimates and forecasts, 2016 - 2026
7.2.2 Market estimates and forecast, by region, 2016 - 2026
7.3 Aftermarket
7.3.1 Global automotive AC compressor market estimates and forecasts, 2016 – 2026
7.3.2 Market estimates and forecast, by region, 2016 – 2026
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