Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Automotive AC Compressor Market by Compressor Type, Vehicle Type, Drive Type, Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the automotive ac compressor market was valued at $8.1 billion in 2021, and is estimated to reach $11.8 billion by 2031, growing at a CAGR of 4% from 2022 to 2031.
Key Market Players
- Toyota Industries Corporation
- DENSO Corporation
- Mitsubishi Heavy Industries Thermal Systems, Ltd.
- Subros
- Nissens
- Hanon Systems
- Sanden Corporation
- MAHLE GmbH
- VALEO
- BorgWarner Inc.
The most important component of air-conditioning systems is the AC compressor. The refrigerant is pushed under intense pressure by the air conditioning system's power unit before being pumped into the condenser, where it transforms from a gas to a liquid. Most autos' air conditioning compressors are driven by an engine accessory belt. If the belt is worn out and slips, the compressor won't operate as efficiently. Compressor leaks of refrigerant might also lessen the volume of cool air entering the interior.
If internal parts break down, there might not be any cold air. Low refrigerant levels in the system do not always result in a/c problems. Some are caused by issues with system parts, such as the compressor.
The global automotive AC compressors market is being driven by the increase in automotive production, sales, and rise in car ownerships across the globe. All types of vehicles, including passenger automobiles, big commercial vehicles, and small commercial vehicles, need AC systems.
Consumers' increase in demand for comfort in vehicles is projected to drive demand for car air conditioning and ultimately automotive AC compressors. The trend of installing aftermarket AC systems in vehicles in developing countries is anticipated to continue for the next four to five years.
The automotive AC compressors market is expected to grow during the coming years due to the increase in demand for comfort amenities in economic automobiles and rise in the number of on-road vehicles worldwide. These factors are estimated to drive the market growth during the forecast period.
Air conditioning compressors are also used in hybrid and electric vehicles. The air conditioning compressors are necessary for EVs, due to their stop-start driving design. An electric vehicle lacks a belt for powering a compressor, due to which EVs use an electric Ac compressor.
An increase in the adoption of EVs across the globe is expected to drive the demand for automotive Ac compressors. Rise in demand for Ac compressors from the electric vehicles sector is expected to create numerous growth opportunities for the key players operating in the market during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive ac compressor market analysis from 2021 to 2031 to identify the prevailing automotive ac compressor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive ac compressor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive ac compressor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Compressor Type
- Variable Displacement
- Fixed Displacement
- Electric Compressor
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Drive Type
- Electric
- Conventional
By Sales Channel
- OEM
- Aftermarket
For more information about this report visit https://www.researchandmarkets.com/r/piucn5
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