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Surging Automotive Production Fuels Growth In The Automotive Ac Compressor Market: An Emerging Driver Transforming The Automotive AC Compressor Market Landscape
Automotive AC Compressor
What Is the Projected Growth of the Automotive AC Compressor Market?
In recent times, there has been a consistent escalation in the size of the automotive AC compressor market. It is anticipated to increase from a worth of $9.02 billion in 2024 to $9.34 billion in 2025, at a compound annual growth rate (CAGR) of 3.5%. The expansion during the historic era can be associated with factors such as an increase in car ownership, customer predilection for convenience, economic development, and disposable income, extreme weather conditions, as well as regulatory standards and emission norms.
In the coming years, the auto AC compressor market is predicted to experience consistent growth, increasing to a value of $11.32 billion in 2029, with a compound annual growth rate (CAGR) of 4.9%. The projected growth can be linked to worldwide urbanization trends, the move towards electric and hybrid cars, consumer interest in energy-efficient solutions, fluctuations in climate and temperature, and government efforts for environmental sustainability. The forecast period is expected to see key trends such as a focus on reducing noise, challenges in the global supply chain, the rise of electric and hybrid vehicles, material innovation, and strategic alliances and partnerships.
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What Are the Different Automotive AC Compressor Market Segments?
The automotive ac compressor market covered in this report is segmented -
1) By Compressor: Variable Displacement, Fixed Displacement, Electric Compressor
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Drive Type: Electric, Conventional
4) By Sales Channel: Original Equipment Manufacturer (OEM), Replacement
Subsegments:
1) By Variable Displacement Compressors: Swash Plate Compressors, Scroll Compressors, Vane Compressors
2) By Fixed Displacement Compressors: Reciprocating Compressors, Rotary Compressors
3) By Electric Compressors: Belt-Driven Electric Compressors, Direct-Drive Electric Compressors
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What Are the Primary Drivers Shaping the Automotive AC Compressor Market?
The growth of the automotive AC compressor market is anticipated to be driven by the surge in vehicle production. The manufacturing process of vehicles, encompassing assembly of various systems and components, is referred to as automotive production. Automotive compressors, which are instrumental in compressing and circulating refrigerant gases in the air conditioning systems of cars, are in higher demand as production rates increase. As an example, CEIC Data, a data and analytics firm based in China and a renowned provider of macroeconomic and financial data based in Singapore, reported that motor vehicle production in the US in December 2023 spiked to 10,611,555 units. This was a considerable increase from the December 2022 figure of 10,052,958 units. Consequently, the surge in automotive manufacturing is fuelling the demand for the automotive AC compressor market.
Which Companies Are Leading in the Automotive AC Compressor Market?
Major companies operating in the automotive ac compressor market include Continental AG, Toyota Industries Corporation, Hanon Systems Co. Ltd., Calsonic Kansei Corporation, Subros Limited, DENSO Corporation, Hella GmbH & Co. KGaA, MAHLE GmbH, Keihin Co. Ltd., Nissan Motor Co. Ltd., Mitsubishi Heavy Industries Ltd., Robert Bosch GmbH, BorgWarner Inc., Michigan Automotive Compressor Inc., Yantai Shougang DENSO Co. Ltd., Zhejiang Santian A/C Compressor Co. Ltd., Smiths Manufacturing Pty. Ltd., Gardner Denver Inc., General Auto Electric Corporation, Nissens Kølerfabrik A/S, Automotive Thermal Systems Co. Ltd., SANDEN Corporation, Standard Motor Products Inc., Aotecar New Energy Technology Co. Ltd., Valeo Clutch Private Limited, Behr Hella Service GmbH, Delphi Technologies Inc., Hitachi Automotive Systems, Johnson Controls Services Inc., Panasonic Corporation
What Are the Major Trends Shaping the Automotive AC Compressor Market?
Increased technological progression is a noteworthy trend gaining ground in the automobile AC compressor industry. Renowned organizations active in the automotive AC compressor sector are focusing their resources on producing technologically forward products to meet shifting demand in the automotive sector, maintaining a competitive edge in the process. For instance, Mahle, an automotive part manufacturing company based in Germany, launched an e-compressor (electric AC compressor) powered by high voltage technology in November 2022. This compressor regulates the temperature of the electric drive. This functionality is critical for the charging speed, service life, and prolonging the life of the battery. Furthermore, this is a high-voltage, noise-optimized compressor that generates minimal vibrations.
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What Are the Top Revenue-Generating Geographies in the Automotive AC Compressor Market?
Asia-Pacific was the largest region in the automotive AC compressor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the automotive AC compressor market during the forecast period. The regions covered in the automotive ac compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive AC Compressor Market?
2. What is the CAGR expected in the Automotive AC Compressor Market?
3. What Are the Key Innovations Transforming the Automotive AC Compressor Industry?
4. Which Region Is Leading the Automotive AC Compressor Market?
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