Industry Overview

Global automotive AC compressor market was valued at USD 23.7 Bn in 2020 and is expected to grow at a CAGR of 4.2% during 2021–2031 to reach XX Bn by the year 2031. The growing popularity of air-conditioning systems for greater thermal comfort in passenger cabins, as well as innovation in the transportation industry, which aims to increase driver comfort and convenience, is likely to provide substantial opportunities for the growth of automotive AC compressor market over the forecast period.

Introduction

The compressor is a part of the air conditioner that raises the temperature and pressure of the vapor refrigerant. It is critical that the compressor raises its temperature in order to complete the heat removal process from the condenser. The air compressor is the most important component in the operation of an air conditioner. As a result of the increased usage of air conditioning in automobiles, the automotive air conditioner compressor industry is growing.

The growing popularity of air-conditioning systems for greater thermal comfort in passenger cabins, as well as innovation in the transportation industry, which aims to increase driver comfort and convenience, is likely to provide substantial opportunities for market players. The rising popularity of next-generation cars, such as hybrid electric vehicles (HEV/PHEV) and electric vehicles (EV), is driving up the number of new electric vehicle models in Europe, North America, Japan, and China, boosting demand for automotive AC compressors.

Automotive AC Compressor Market Covid-19 Pandemic Impact & Recovery Analysis

The COVID-19 pandemic has impacted negatively on the automobile sector. It is estimated that the industry will need at least four years to completely recover and resume normal commercial operations. Stakeholders in the automotive AC compressor market are facing problems as a result of such forecasts.

Companies in the automotive AC compressor market are using plug-and-play technology to adapt to the industry’s moderate development. Because customers have grown more cautious of their spending and are seeking for long-term investments to own various goods and commodities, automobile manufacturers have been forced to expand their attention on electric cars (EVs).

Know how Covid-19 pandemic affected market growth: Order Free Sample & Covid-19 pandemics impact & recovery analysis

Automotive AC Compressor Market Dynamics

Increasing demand for vehicle comfort among passenger vehicles

Consumers are demanding more comfort in their automobiles while driving, which is driving up demand for air conditioning. Furthermore, when the temperature in the car rises, so does the discomfort experienced while travelling, leading to an increase in the need for air conditioning in automobiles. As a result, as the demand for air conditioning grows, so does the need for compressors in automobiles. Furthermore, because compressors remove heat and offer cooling inside cars, the automotive AC compressor market is expected to develop in the near future.

Growing car ownership rate among developing economies

Developing economies are investing heavily in manufacturing sector to developed strong export capabilities which is creating increasing manufacturing of automobiles. With growing number of vehicle ownership among working class the demand for automotive AC compressor is escalating at high pace.

Know how the market dynamics are projected to shift: Order Free Sample & Competition Landscape Mapping

Automotive AC Compressor Market Segment Analysis

The Automotive AC Compressor market is segmented by vehicle type, by type, by driver, by sales channel, & by region.

Insights by Vehicle Type

In 2020, the passenger cars category dominated the automotive AC compressor market in terms of revenue share. The opportunity for AC compressor sales in rising nations like as India, Indonesia, and Mexico, among others, is substantial, since the proportion of passenger automobiles equipped with air-conditioning systems is projected to rise significantly. Furthermore, as air-conditioning systems become more common in pickup trucks and vans, demand is expected to rise over the forecast period.

Insights by Type

Based on type the automotive AC compressor market is segmented into variable displacement, fixed displacement, electric compressor. From 2021 to 2031, the automotive AC compressor market for variable displacement compressors is expected to grow at high CAGR owing to development by key market players in the segment.

Variable displacement compressors are in high demand in North America and Europe because they provide outstanding acceleration while using less energy and emitting fewer carbon emissions than fixed displacement compressors. The variable displacement compressor is gaining popularity in the industry because it regulates the amount of refrigerant liquidated by varying the angle of the rotating swash plate, which is linked to vehicle driving conditions and engines, improving driving comfort while lowering compressor energy consumption and carbon emissions.

Insights by Drive

Based on drive the automotive AC compressor market is segmented into belt driven and electric driven. In the year 2020, belt drive segment accounted for XX% of market share and projected to decline in the revenue share over the forecast period owing to its application limitations. However, electric driven segment led the market and anticipated to gain larger market share in the coming years accounted for its capabilities to provide higher safety, simplification of operation, making less noise, and involves less moving parts than traditional drive.

Insights by Sales Channel

In 2031, the OEM sales channel is expected to account for approximately XX % of the automotive AC compressor market. The category penetration is expanding due to increased car manufacturing to match rising demand. The continuing Covid-19 has had a tremendous influence on automobile production in 2020, and despite forced lockdowns and production halts throughout the world, the automotive sector has seen substantial growth. According to the China Association of Automobile Manufacturers (CAAM), China alone manufactured 13.2 million passenger cars and 3.7 million commercial vehicles during January to September 2020.

Know how the key market segments are projected to drive overall growth over the forecast period: Order Free Sample Report

Automotive AC Compressor Market Regional Analysis

Through 2031, the Asia Pacific automotive AC compressor market, headed by China, is expected to increase at a pace of more than ~5%. According to the OICA, Asia Pacific accounted for more than half of worldwide automobile manufacturing in 2019. Furthermore, favorable measures by several Asian countries are projected to aid the car industry’s recovery. Due to different government initiatives such as a 50% subsidy for electric vehicles until 2022 and a comeback in consumer demand, China’s automotive manufacturing is likely to continue its recovery push in the second half of the year.

Know how MICRO & MACRO factors are impacting the regional growth: Order Free Sample Report

Competitive Insights

The market is highly competitive in nature with direct & indirect competitors focusing on leveraging growth opportunities to drive business. Major companies in the automotive AC compressor market includes Behr Hella Service GmbH, Calsonic Kansei Corporation, Continental AG, Hanon Systems, Keihin Corporation, Michigan Automotive Compressor, Inc., SANDEN, Subros Limited, MAHLE Group, BorgWarner Inc., Robert Bosch GmbH, DENSO CORPORATION, TD Automotive Compressor Georgia Toyota Industries Corporation, Valeo SA (20+ Companies are profile in the final report)

Key market players are focusing on mergers, acquisitions, partnerships, and joint ventures to gain a competitive edge in the automotive AC compressor market.

• In February, 2021: In Japan, Thailand, and the United States, MAHLE GmbH took over the air conditioning industry from Keihin Corporation. The MAHLE Group is now integrating four manufacturing locations and one development centre. MAHLE was able to strengthen its position in the sector of air conditioning systems as a result of this acquisitions.

Know-how direct & Indirect competitors are leveraging growth trends & business strategies: Order Free Competition Landscape Mapping

Automotive AC Compressor Market Report Coverage

Global Automotive AC Compressor Market, by Vehicle Type

• Passenger Cars
• LCV
• HCV

Global Automotive AC Compressor Market, by
Type

• Variable Displacement
• Fixed Displacement
• Electric Compressor

Global Automotive AC Compressor Market, by
Drive

• Belt Driven
• Electric Driven

Global Automotive AC Compressor Market, by
Sales Channel

• OEM
• Aftermarket

Global Automotive AC Compressor Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • South Korea
  • Japan
  • Australia
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa
• South America
  • Brazil
  • Argentina