The global Automotive AC Compressor market gathered revenue around USD 28.3 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 2% during the prediction period 2021 to 2027. Disposable income of the global population is rising at a steady pace. For instance, according to the statistics of the World Bank Group, the GDP of the global population, which is measured in terms of purchasing power parity, has tripled over the past few decades. This increase in purchasing power of the global population has led to rise in sale of vehicles across the globe. This increase in sales of vehicles is a major factor driving the global automotive AC compressor market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive AC Compressor market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive AC Compressor market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Automotive AC Compressor market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Scope of the Report:
The global Automotive AC Compressor market offers an exhaustive research analysis of the global market's growth prospects. The report's scope includes a global industry overview, a global industry description with comprehensive research analysis, and an Automotive AC Compressor industry summary of various countries and their regions. This research study evaluation of present market revenue, market forecast, and market share investigation of the foremost suppliers of the industry. It also covers the competitive landscape, market size, marker trends, Automotive AC Compressor industry future innovations, and a range of existing market business strategies. Stakeholders will be able to design and align their business plans using current and future market trends.
Drivers of Automotive AC Compressor Market
Rise in disposable income of the global population has led to a surge in the sale of passenger as well as domestic vehicles. Customers, while purchasing new vehicles, are more concerned about the amenities the vehicle has to offer, its safety level, ride comfort level, and other such aspects. The vehicle’s cabin temperature has a strong impact on the ride experience and driver comfort. Optimal cabin temperatures reduce fatigue while driving, which lowers the probability of accidents and hence increases safety. These benefits have prompted HVAC systems to become a standard feature in most vehicles sold across the globe. The AC compressor is utilized to pressurize the AC unit and keep R134a flowing so that it can work properly. Thus, rise in sale of vehicles and changing customer expectations are driving the automotive AC compressor market across the globe.
Global warming has led to an increase in the Earth’s atmospheric temperature by approximately 1-2 degrees Celsius per year. This rise in global warming is propelling the consumer demand for air conditioning in vehicles for better vehicle interior environment during commute, considering the extensive time spent in vehicles during commute.
Electric vehicles are gaining popularity in several countries. These vehicles have huge battery pack and other electronic components that generate tremendous heat during the vehicle’s operation, which needs to be dissipated for the safety of passengers and optimal functioning of the components. Therefore, ACs are a vital component of electric vehicles and the rising popularity of electric vehicles is propelling the automotive AC compressor market across the globe.
Challenges for Automotive AC Compressor Market
Design, manufacture, and assembly of an AC compressor needs considerable precision, advanced R&D facilities, and more advanced technology. Furthermore, it requires technical expertise and high investment. Advancements in material, components, and systems boost the price of AC compressor compared to that of other types of compressors. Consequently, the price of a vehicle equipped with an AC compressor is higher, due to the high price of the automotive AC compressor. Maintenance issues, technical restraints, and high prices of luxury vehicles are expected to act as minor restraints for the market during the forecast period.
The recent outbreak of COVID-19 hampered majority of businesses across the globe, owing to the forced lockdown, which led people to stay at home. This pandemic hindered the sale of vehicles and their components, which disrupted the automotive supply chain across the world and hampered the automotive AC compressor market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Automotive AC Compressor Market are:
The global automotive AC compressor market include Behr Hella Service GmbH, Calsonic Kansei Corporation, Continental AG, Hanon Systems, Keihin Corporation, Michigan Automotive Compressor, Inc., SANDEN, Subros Limited, MAHLE Group, BorgWarner Inc., Robert Bosch GmbH, DENSO CORPORATION, TD Automotive Compressor Georgia Toyota Industries Corporation, and Valeo SA.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Automotive AC Compressor Market: Segmentation
- Automotive AC Compressor Market, by Design
- Reciprocating Type
- Rotary Type
- Automotive AC Compressor Market, by Drive Type
- Electric
- Conventional (Belt Driven)
- Automotive AC Compressor Market, by Vehicle
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Duty Truck
- Bus & Coaches
- Automotive AC Compressor Market, by Sales Channel
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the Automotive AC Compressor market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2027 to enable stakeholders to capitalize on the prevailing Automotive AC Compressor market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the Automotive AC Compressor market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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