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Automotive AC Compressor Global Market Report 2023

Mar 10, 2023

Major players in the automotive ac compressor market are Continental AG, Toyota Industries Corporation, Hanon Systems, Calsonic Kansei Corporation, Subros Limited, DENSO Corporation, Hella Gmbh Co KGaA, MAHLE GmbH, Keihin Co.

New York, June 06, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Automotive AC Compressor Global Market Report 2023" - Ltd., Nissan Motor Co. Ltd., Mitsubishi Heavy Industries Ltd., Robert Bosch GmbH, BorgWarner Inc., Michigan Automotive Compressor Inc., Yantai Shougang DENSO Co. Ltd., HELLA GmbH & Co KGaA, Zhejiang Santian A/C Compressor Co. Ltd., Smiths Manufacturing Pty. Ltd., Gardner Denver, and General Auto Electric Corporation.The global automotive AC compressor market is expected to grow from $8.54 billion in 2022 to $8.89 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive AC compressor market is expected to reach $10.26 billion in 2027 at a CAGR of 3.7%.The automotive AC compressor market consists of sales of reciprocating compressors, rotary vane compressors, scroll compressors, screw compressors and centrifugal compressors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.An automotive AC compressor is a mechanical device that pressurizes and circulates refrigerant in the air conditioning system of a vehicle to cool the interior of the vehicle. It is used to condition the air inside the vehicle from hot to cold and vice versa.Asia-Pacific was the largest region in the automotive AC compressor market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.The main compressors of automotive AC compressors are variable displacement, fixed displacement, and electric compressors.A variable displacement compressor refers to a type of compressor that can adjust the amount of refrigerant it pumps based on the cooling load, resulting in improved efficiency and reduced energy consumption.The various electric and conventional vehicle types involved are passenger cars, light commercial vehicles and heavy commercial vehicles. The automotive AC compressors are distributed through various sales channel such as original equipment manufacturer (OEM) and replacement.The increasing automotive production is expected to propel the growth of the automotive AC compressor market going forward.Automotive production refers to the process of manufacturing automobiles, including the assembly of various components and systems to create a finished vehicle.Automotive compressors are used in automotive for compressing and circulating refrigerant gases in the air conditioning systems of vehicles.Hence, the increase in automotive production will rise the demand for automotive AC compressors.For instance, according to the European Automobile Manufacturer Association, a Belgium-based lobbying and standards group of the automobile industry in the European Union, around 79.1 million vehicles were produced in 2021 around the world, up from 1.3% in 2020. Therefore, increasing automotive production is driving demand for the automotive AC compressor market.Technological advancement is a key trend gaining popularity in the automotive AC compressor market.Major companies operating in the automotive AC compressor market are concentrating their efforts on creating technologically advanced products to meet the evolving demand from the automotive industry and to stay competitive in the market.For instance, in November 2022, Mahle, a Germany-based automotive parts manufacturer introduced an e-compressor (electric AC compressor) based on high voltage technology.This compressor controls the temperature of the e-drive, which is important for charging speed, servicing life, and increasing the life of the battery.It is a high-voltage noise optimized compressor which produces light vibrations.In March 2021, the Hisense Home Appliances Group, a China-based white goods manufacturer acquired a controlling stake in Sanden Holdings Corporation for an amount of $200 million.With this acquisition, Hisense Home Appliances Group expanded its presence in the Japanese market, particularly in the area of automotive air conditioning.Sanden Holdings Corporation is a Japan-based manufacturer of automotive air conditioning systems and components.The countries covered in the automotive AC compressor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The automotive AC compressor market research report is one of a series of new reports that provides automotive AC compressor market statistics, including automotive AC compressor industry global market size, regional shares, competitors with automotive AC compressor market share, detailed automotive AC compressor market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive AC compressor industry. This automotive AC compressor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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