Automotive AC Compressor Market Analysis Over 2021-2026 | Growth Forecast & Industry Share Report
Asia-pacific automotive AC compressor market is expected to witness strong growth over the coming years. The projected growth is ascribed to the region’s large automotive production. APAC is home to a number of prominent local as well as international vehicle manufacturers. The regional market is also likely to be driven by increasing penetration of air condition systems in the heavy commercial vehicle segment, especially in countries like India and ASEAN nations.
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With respect to drive, the belt driven segment is likely to experience around 3.5% CAGR through the analysis time period. The anticipated growth is ascribed to cost-effectiveness and higher IC engine vehicle production across the globe. These types of compressors operate with the help of engine and does not need an additional source of power. This further leads to higher product penetration.
The automotive AC compressor market is anticipated to grow at a rapid pace owing to the increasing adoption of air conditioning systems in passenger cars across emerging economies. In addition, owing to tightening environmental regulations, vehicle manufacturers are frequently innovating ways to enhance fuel efficiency of their compressors to reduce emissions and help prevent global warming. These initiatives would also play a major role in fostering market outlook.
At present, automotive manufacturers have also been adopting strategies such as partnerships, acquisitions, and novel product development and launches to strengthen their global position. Citing an instance, in November 2019, Pierburg GmbH, a global leader in the design, development and production of automobile components, reportedly introduced a new electric a/c compressor especially designed for EVs.
Market players are increasingly focusing on developing more lightweight and compact automotive AC compressors to effectively enhance fuel efficiency, and cut down on carbon emissions. Taking June 2020 for instance, DENSO, a renowned Japanese automotive manufacturer, reportedly opened a new Electrification Innovation Center at the company’s Anjo, Aichi plant in Japan. This move backs the firm’s aggressive push towards developing and manufacturing electrified automotive products, technologies, and systems.
Meanwhile, industry participants are focusing on acquisition of other market players to increase their market presence and product portfolio. Citing an instance, in April 2019, Standard Motor Products, Inc., a leading automotive replacement parts distributor and manufacturer, reportedly announced its acquisition of certain liabilities and assets of the Pollak business of Stoneridge, Inc. for nearly $40 million, liable to post-closing adjustments.
SANDEN, Automotive Thermal Systems Co., Ltd, Aotecar New Energy Technology Co., Ltd., Nissens, Denso Corporation, Standard Motor Product Inc., Subros, Toyota Industries, MAHLE, Mitsubishi Heavy Industries, and Hanon Systems among many others are some of the key players operating in the automotive AC compressor market.
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Partial Chapter of the Table of Content
Chapter 5 Automotive AC Compressor Market, By Type
5.1 Global market insights, by Type
5.2 Variable Displacement
5.2.1 Global market estimates and forecasts, 2016 - 2026
5.2.2 Market estimates and forecast, by region, 2016 - 2026
5.3 Fixed Displacement
5.3.1 Global automotive AC compressor market estimates and forecasts, 2016 – 2026
5.3.2 Market estimates and forecast, by region, 2016 – 2026
5.4 Electric Compressor
5.4.1 Global market estimates and forecasts, 2016 – 2026
5.4.2 Market estimates and forecast, by region, 2016 - 2026
Chapter 6 Automotive AC Compressor Market, By Drive
6.1 Global market insights, by Drive
6.2 Belt Driven
6.2.1 Global market estimates and forecasts, 2016 - 2026
6.2.2 Market estimates and forecast, by region, 2016 - 2026
6.3 Electric Driven
6.3.1 Global market estimates and forecasts, 2016 - 2026
6.3.2 Market estimates and forecast, by region, 2016 – 2026
Chapter 7 Automotive AC Compressor Market, By Sales Channel
7.1 Global market insights, by sales channel
7.2 OEM
7.2.1 Global market estimates and forecasts, 2016 - 2026
7.2.2 Market estimates and forecast, by region, 2016 - 2026
7.3 Aftermarket
7.3.1 Global automotive AC compressor market estimates and forecasts, 2016 – 2026
7.3.2 Market estimates and forecast, by region, 2016 – 2026
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