Automotive AC Compressor Market to hit $11 billion by 2028, Says Global Market Insights Inc.April 11, 2022
Major automotive AC compressor market participants include MAHLE, Denso Corporation, Nissens, Automotive Thermal Systems Co., Ltd., Subros, Toyota Industries, SANDEN, Hanon Systems, Mitsubishi Heavy Industries, Aotecar New Energy Technology Co., Ltd., and Standard Motor Product Inc., among others.
Selbyville, Delaware, April 11, 2022 (GLOBE NEWSWIRE) —
The automotive AC compressor market is expected to surpass USD 11 billion by 2028, as reported in a research study by Global Market Insights Inc. The upsurge in demand of air condition systems in LCVs and HCVs in emerging countries will drive the industry statistics.
To reduce air pollution and minimize global warming, car AC compressor producer are constantly improving the energy efficiency of their compressors. As design improves, a greater demand for lightweight and compact solutions is created. Various manufacturers are producing compressors to meet the above-mentioned demand with advancements in the variable output displacement based on external variables such as vehicle speed, sunlight, and ambient temperature.
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To expand their market presence and product portfolio, automotive AC compressor market participants are focusing on acquiring regional players. In February 2021, MAHLE GmbH acquired the air conditioning business from Keihin Corporation in Japan, Thailand, and the U.S. Due to this acquisition, MAHLE was able to boost its position in the air conditioning system sector.
The belt-driven type is estimated to attain around 4% CAGR through 2028 impelled by surge in production of IC engine vehicle worldwide. The versatility of belt-driven air compressors has the most significant advantage owing to their practicality, which is as simple as adjusting or replacing the pulleys to change the pressure or speed. As a result, belt-drive systems provide the necessary flexibility for sites that demand rapid pressure changes from their air compressors, resulting in the further penetration of the product. Cost-effectiveness is a key benefit, which is anticipated to improve the industry growth.
North America will hold over 15% market share in automotive AC compressor market by 2028. The rising use of automotive AC compressors in this region is related to an increase in the number of automobiles on the road and individual purchasing power in the U.S. and Canada.
The leading manufacturers s are investing in acquisitions, new technologies, and joint ventures, to increase their global footprints or acquire advanced technologies to cater to the increasing demand. For instance, in 2018, the AC Compressor business of Baker Hughes, a GE Company was acquired by Rotating Machinery Services.
Some major findings in the Automotive AC Compressor market report include:
Asia Pacific is poised to dominate the global market owing to increasing air condition adoption in the HCV segment mainly in India & ASEAN countries and large automotive production.
Market players are focusing on developing compact & lightweight automotive AC compressors to improve fuel efficiency since they help in reducing the load on the automotive engine.
The fixed displacement compressor segment is predicted to observe notable growth across emerging economies due to its lower price of its counterparts.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global automotive AC compressor market 360° synopsis, 2018 – 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Vehicle type trends
2.1.4 Type trends
2.1.5 Drive trends
2.1.6 Sales Channel trends
Chapter 3 Global Automotive AC Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 – 2028
3.3 Industry ecosystem analysis
3.4 Pricing analysis (including COVID-19 impact)
3.5 Innovation & sustainability
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Automotive industry overview
3.9 Growth potential analysis, 2021
3.10 Porter’s analysis
3.11 PESTLE analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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