Automotive Air Conditioning Compressor Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The automotive air conditioning compressor market is expected to register a CAGR of 4.0% during 2023–2031. The increasing awareness regarding environmental protection and growing fuel costs is likely to remain a key trend in the market.

Automotive Air Conditioning Compressor Market Analysis

• Increasing sales of automotive air conditioning compressor is playing a vital role in global market. The automotive air conditioning sector is estimated to undergo swift expansion over the forthcoming era due to numerous factors. Worldwide, the APAC region is projected to be the largest market as demand for air conditioners is likely to rise further as developed Asian economies show rising levels of vehicle sales. Continuing technological advancements such as reduced power consumption and smaller compressor dimensions, are triggering automotive air conditioner compressors demand along with rise in vehicle sales, changing customer expectations and environmental consciousness.
• According to the report, the automotive air conditioner compressor sector is going in a higher growth with increasing volumes of vehicles sold across economies. The market for automotive air conditioning compressors is going to expand mainly due to the significant increase in car manufacturing activities in major economies.

Automotive Air Conditioning Compressor Market Overview

• The global automotive air conditioning compressor market is forecasted to grow with a healthy growth rate during the forecast period. The main driving factor for market growth is increasing automotive air conditioning demand due to the growing consumer demand for comfort while driving a vehicle and thus creating a need for automotive A/C systems and ultimately the requirement for automotive AC compressor.
• The growing trend of aftermarket installation of AC by consumers in developed as well as developing economies is one of the key factors for the market growth in developing economies over the coming years. The rising trend of cars on roads worldwide and driving affordable comfort features in economy cars are some other factors projected to drive the market.

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Automotive Air Conditioning Compressor Market: Strategic Insights

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Automotive Air Conditioning Compressor Market Drivers and Opportunities

Increase in Automobile Production and Sales of Personal, Commercial and Passenger Vehicles to Favor the Market

• Increase in the production and sales of personal, commercial and passenger vehicles: Automatic air conditioning market is an integral part of the Automotive industry and it is always going hand in hand with that of personal, commercial and passenger vehicles.
• Rise in the global population across the developing countries and human migration which is known as urbanisation has primarily led to a tremendous demand for vehicles and eventually lead to its production in most of the developing countries due to availability of cheap labour.

Increasing Demand for Private Car Rental Services

• The growing demand for private taxi-cab rental services like Uber, Ola and Lyft are predicted to increase the demand for the innovated products like automotive air conditioning that can differentiate the customer experience and are probable to dramatically contribute to the industry growth.
• Additionally, the increasing competition among different taxi services is going to contribute to the application of the innovated differentiation in service, thus stimulating the customer’s loyalty.

Automotive Air Conditioning Compressor Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive air conditioning compressor market analysis are type, vehicle type, and distribution channel.

• Based on type, the automotive air conditioning compressor market is divided into swash plate, scroll, and rotary vane.
• On the basis of vehicle type, the market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles.
• Based on distribution channel, the automotive air conditioning compressor market is divided into OEMs and aftermarket.

Automotive Air Conditioning Compressor Market Share Analysis by Geography

• Automotive air conditioning compressor market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive air conditioning compressor market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive air conditioning compressor market in these regions.

Automotive Air Conditioning Compressor Market Regional Insights

The regional trends and factors influencing the Automotive Air Conditioning Compressor Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Air Conditioning Compressor Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automotive Air Conditioning Compressor Market Report Scope

Automotive Air Conditioning Compressor Market Players Density: Understanding Its Impact on Business Dynamics

The Automotive Air Conditioning Compressor Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automotive Air Conditioning Compressor Market are:

1. Continental AG
2. Hanon Systems
3. Keihin Corporation
4. Michigan Automotive Compressor, Inc.
5. SANDEN
6. MAHLE Group

Disclaimer: The companies listed above are not ranked in any particular order.

Automotive Air Conditioning Compressor Market News and Recent Developments

The automotive air conditioning compressor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive air conditioning compressor market are listed below:

• MAHLE introduced the most powerful e-compressor currently available on the market with a peak power of 18 kW. E-compressors are the heart of thermal management in electric vehicles. The most recently presented e-compressor with 18 kW is currently the most powerful electric A/C compressor on the market. (Source: MAHLE Group, Company Website, November 2022)
• Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, is supporting BMW Group’s commitment to developing zero-emission hydrogen fuel cell vehicles with an advanced electric fuel cell compressor (FCC) developed by Garrett’s R&D team. BMW Group recently announced that it will pilot the second generation of its hydrogen fuel cell drive train in a small series of the BMW iX5 Hydrogen, boosted by Garrett’s new generation, modular fuel cell compressor for hydrogen fuel cell electric vehicles. (Source: Garrett Motion Inc., Company Website, June 2023)

Automotive Air Conditioning Compressor Market Report Coverage and Deliverables

The “Automotive air conditioning compressor market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive air conditioning compressor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive air conditioning compressor market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive air conditioning compressor market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive air conditioning compressor market
• Detailed company profiles