Automotive AC Compressor Market is Dominated by the Conventional Drive Type Until 2028.
Global Automotive AC
Compressor Market is generating new opportunity as the consumer demand for
comfortable interior ambience is growing.
According
to TechSci Research report, “Automotive
AC Compressor Market - Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028” Global automotive AC compressor market is growing as the
increased automobile production & sales and increased car ownership globally
have resulted in market growth. Furthermore, the growing consumer demand for
vehicle comfort, the increasing number of on-road cars globally, and the rise
in demand for additional comfort features, are expected to accelerate market
growth. The rising demand for electric cars in various sectors throughout the
world helps to buffer the market's expansion during the anticipated period.
However, factors such as maintenance issues and other technical constraints
will limit the market's potential for growth. Similarly, government subsidies
and incentives are promoting the adoption of electric vehicles. At the same time,
the increase in the demand of the premium features by the consumers is
influencing the market growth in the forecast period.
Most
automotive AC compressors are consumed by the passenger car application sector.
The rising demand for cars with high-tech comfort amenities, such air
conditioning systems, is what propels this market sector. To keep drivers and
passengers comfortable even in harsh weather, passenger vehicles are outfitted
with air conditioning systems. The automotive AC compressors found in passenger
cars are made to deliver effective cooling performance while enhancing fuel
economy. Buses, vans, and other big commercial vehicles utilise refrigeration,
air conditioning, and other temperature control systems.
The Asia Pacific region is leading in the Global Automotive
AC Compressor Market. The presence of automotive key players in countries like
India and China, increases in vehicle sales, quick installation of AC systems
in passenger vehicles, rising buying power, and economic expansion are some of
the important factors driving market growth in this area. The existence of
innovative technologies, the increased use of hybrid and electric cars in north
America and Europe, and the rising demand for AC systems for luxury and
comfortable interiors is expected to make drive the market in North America and
Europe.
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The Global Automotive
AC Compressor Market can be segmented based on vehicle type, drive type, sales channel, design
type, region, and company.
Based on vehicle type, the market is further segmented
into passenger cars, light commercial vehicle (LCV), medium and heavy
commercial vehicles (M&HCV). The passenger car segment is expected to have
the major market share globally due to the higher demand in this category.
Based on Drive Type, the market is segmented into electric and conventional. Currently, the
conventional drive type has most of the market share and in the forecast period
the electric category is expected to have the highest CAGR because the demand
and adoption of the electric vehicles is expected to rise. Similarly, by sales
channel, the market is segmented into OEM and Replacement. The OEM category is
expected to have the highest growth rate as the production of automobiles is
increasing globally. Similarly, by design type, the market is segmented into reciprocating
and rotary type. Based on the region the market is segmented into North
America, Asia Pacific, Europe & CIS, South America, and Middle East & Africa,
the Asia-pacific is the dominating globally, followed by North America, Europe.
Some of the major companies operating in the Global
Automotive AC Compressor Market include:
- Behr Hella Service GmbH
- Calsonic Kansei Corporation
- Continental AG
- Delphi Technologies
- Denso Corporation
- Hahn & Co Auto Holdings Co Ltd.
- Subros Limited
- Robert Bosch Gmbh
These
are the key players developing and launching new products to stay competitive
in the market. To increase the customer outreach, the companies are investing
in the research and development activities. These companies are focusing on
meeting the regulations of different regional governments to stay competitive
in the global market.
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“The
rising penetration of electric vehicles globally and the change in the consumer
behavior towards safety and features in the vehicles is expected to drive the
market in the coming year. Similarly, the growth of the overall automobile
industry and the technological advancement in the industry is also influencing
market growth in the Global
Automotive AC Compressor Market. The growth in the market is linked with the
growth of the automobile industry.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Automotive AC Compressor Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F. Segmented By
Vehicle Type (Passenger Cars, Light Commercial Vehicle (LCV), Medium and Heavy
Commercial Vehicles (M&HCV)), By Drive Type (Electric and Conventional), By
Sales Channel (OEM and Replacement), By Design Type (Reciprocating Type and
Rotary Type), and By Region” has evaluated the future growth
potential of Global Automotive AC Compressor Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Automotive AC Compressor Market.
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