Due to the rising demand throughout the course of the forecast period, a CAGR of 3.90% is predicted for the worldwide automotive AC compressor market. It is projected to increase in value from US$ 9,342.1 Mn in 2022 to US$ 13,696.2 Mn in 2032.
Cabin space in automobiles has become more sophisticated, advanced, aesthetic and comfort driven in the recent past. Air conditioning systems have evolved from comfort feature to necessary feature these days.
Automakers and component manufacturers have made advancements in technology relating to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical for installing in low budget and compact cars without compromising on overall performance of vehicle.
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Compressors play an important role in smooth and efficient functioning of air conditioning systems in automobiles. The contemporary heating ventilation and air conditioning (HVAC) systems ensure thermal comfort for vehicle occupants across wide range of temperature right from hot-humid to cooler ones.
Compressors maintain necessary flow and pressure of refrigerant in the system in order to facilitate heat rejection from the confined space. These requirements are met by using variable speed ranges and capacity of the system.
With varied requirements, compressors are designed to support cabin heating function as well, for automobiles operating in cold climatic conditions. Automobile manufacturers, providing such efficient automotive air conditioning system, are using it as an important tool for marketing their vehicles.
Automotive AC Compressor Market Dynamics:
Various new technologies are penetrating the global market, making Automotive AC Compressors more efficient in functioning with low production and operational costs. Installation of lightweight and compact size compressors are gaining prevalence recently across all the vehicle segments. These features also aid in reducing noise and vibration levels of vehicle and help in achieving fuel economy targets.
Over the years, air conditioning systems have become an integral part of all types of vehicles including passenger cars, light commercial vehicles (LCV) and heavy commercial vehicles (HCV). In developing economies significant opportunity exists for aftermarket installation of air conditioning systems in vehicles and such trend is likely to prevail for next five to six years.
Increasing vehicle production, fleet on road and increasing installation of comfort features in economic segment cars is driving growth in global automotive air compressors market. Premium vehicle prices, maintenance issues and some of the technical constraints pose minor resistance towards rapid growth of automotive air compressors market globally.
Other minor issues in automotive air compressors is related with use of inferior quality refrigerant and leakage. Automakers are keen on eliminating such issues by employing sophisticated and advanced technologies.
On technological front, opportunity exists for market players to introduce more efficient system compressors at competitive prices. Continuous development in the design of system compressor to reduce its size is the major trend observed among global players.
Owing to growing overall automotive air conditioning system consumption, coupled with technological advancements to provide better equipment at competitive cost, the global market for Automotive AC Compressor is expected to register significant growth over the forecast period.
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Some of the key players identified in the market include
- Denso Auto Corporation
- Michigan Automotive Compressor Inc.
- General Auto
- OMEGA Environmental Technologies
- Yantai Shougang TD Automotive Compressor Co. Ltd.
- HELLA KGaA Hueck & Co.
- Zhajiang Santian A/C compressor Co. Ltd.
- Valeo S.A.
- Calsonic Kansei Corporation
- Mitsubishi Heavy Industries
- Highly Marelli Holdings Co. Ltd.
- Dunair Smiths Manufacturing PTY Ltd.
- Behr Hella Service GmbH
- Keihin Corporation
- Continental AG
- Robert Bosch GmbH
- SANTIAN A/C COMPRESSOR CO. LTD.
Key Segments Profiled In The Automotive AC Compressor Market Survey
By Configuration:
- Scroll Type Compressor
- Rotary Type Compressor
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Product Type:
- Fixed Displacement Type
- Continuous Variable Displacement Type
- Electrically Operated
By Sales Channel:
- Original Equipment Manufacturer
- Aftermarket
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By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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