The global automotive AC compressor market is projected to grow at a CAGR of 3.9% over the forecast period, reaching an estimated value of USD 14.1 billion by 2033, up from USD 9.6 billion in 2023 due to rising demand.
Key Trends in the Market
- Electrification: With a strong emphasis on reducing greenhouse gas emissions, electric and hybrid vehicle adoption is rising. Electric compressors are becoming popular for their energy efficiency and enhanced vehicle performance.
- Sustainable Focus: Both consumers and automakers are prioritizing eco-friendly AC compressors to minimize environmental impact and reduce global warming potential.
- Smart Technology Integration: Automation and sensor integration in AC compressors offer real-time performance data, improve energy use, and optimize cooling efficiency, supporting market growth.
- Lightweight, Compact Designs: To boost fuel efficiency, the automotive industry is designing lighter, compact AC compressors without sacrificing performance.
- Advanced HVAC Systems: Rising demand for vehicle comfort drives the development of high-capacity HVAC systems, featuring faster cooling and advanced filtration, contributing to market expansion.
- Regulatory Compliance: Manufacturers are implementing advanced technologies to meet government-imposed regulations, enhance fuel efficiency, and lower vehicle carbon footprints.
In-Depth Market Analysis: A Complete Report
Key Takeaways
- The automotive AC compressor market is expected to reach USD 14.1 billion at a 3.9% CAGR by 2033.
- The United States is projected to secure a 19.0% share of the global market by 2033.
- Germany is forecasted to hold a 6.5% market share during the forecast period.
- Japan is anticipated to drive the market with a 5.2% share by 2033.
- Australia is estimated to capture 0.8% of the global market over the forecast period.
How are Key Companies Adding Value to the Global Market?
The present prominent players in the globe highly fragment the global market. These players are focused on innovating unique and improved products by investing heavily in research and development activities. These players are adopting various advanced technologies to provide high-quality, sustainable, and better-performance AC compressors to satisfy consumers’ desires.
They design light weighted and compact compressors without lacking their performance. Key players adopt various commonly used marketing strategies to expand the global market to another height. These marketing tactics are mergers, acquisitions, collaborations, product launches, and partnerships.
Key Companies Profiled
Toyota Industries, TD Automotive Compressor, Gardner Denver, Delphi PLC., SANDEN USA, Denso Auto Corporation, Michigan Automotive Compressor Inc., General Auto, OMEGA Environmental Technologies, Yantai Shougang TD Automotive Compressor Co. Ltd., HELLA KGaA Hueck & Co., Zhejiang 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., etc.
Recent Developments in the Global Market are:
- In 2019, Hanon Systems announced its newly launched product, automotive thermal and energy management solutions. The company develops electric compressors integrated with HVAC systems for electric vehicles.
- In 2019, Mitsubishi Heavy Industries Thermal Systems Ltd invested in AC compressors by exploring new technologies and refrigerants to attract consumers demand.
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
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe.
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