Automotive Air Conditioner Compressor Market Overview
The global automotive air conditioner compressor market is anticipated to observe extensive growth in the coming years mainly due to the swift rise in the production of automobiles across major economies and the increasing installation of advanced comfort features in economy cars. Additionally, rise in disposable income, increase in urbanization, and growing trend of automation in automobiles are expected to boost the market growth in the near future. Automotive air conditioner compressors have witnessed various technological advancements, such as less power consumption and reduced size, in recent years. This has further increased their demand in the automotive industry and supported their market growth, globally.
On the basis of vehicle, the automotive air conditioner compressor market is categorized into passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. During the forecast period, the market is anticipated to witness the fastest growth in the category of passenger cars, mainly due to growing car sales in countries such as China and India. Passenger cars account for about 80% of the total automobile production, globally. Besides, the category is expected to continue leading the market during the forecast period.
Geographically, Asia-Pacific (APAC) is expected to continue being the largest market for automotive air conditioner compressors in the coming years, owing to the increasing sales of automobiles in developing economies such as China and India. In addition, the growing infrastructure and rising disposable income in these countries are expected to support the growth of the automotive air conditioner compressor market in the APAC region.
Automotive Air Conditioner Compressor Market Dynamics
Trend
Space constraint in passenger cars is one of the major factors affecting the installation of air conditioning systems in automobiles. Various original equipment manufacturers (OEMs) are, therefore, engaged in the development of lighter, more efficient, and smaller air conditioning systems for vehicles. These features also help in reducing the noise and vibration levels in automobiles. Hence, improvement in the design of compressors, resulting in their reduced size and power consumption, is a major trend observed in the automotive air conditioner compressor market, globally.
Drivers
The increasing production of automobiles in several countries is a major factor propelling the demand for air conditioner compressors in the industry. In addition, the growing demand for comfort features in automobiles has led to the increased use of air conditioning systems in four-wheelers. Besides, technological advancements in terms of efficiency and performance have made air conditioning systems economical in recent years, further supporting their adoption in the automotive market. Thus, the aforementioned factors are expected to continue supporting the growth of the automotive air conditioner compressor market during the forecast period.
Restraint
Refrigerants are potent greenhouse gases (in the liquid form), and their leakage has a strong adverse impact on the climate and the environment at large. Since refrigerants are required for the functioning of compressors, various countries across the world have established regulations as an effort to reduce the pollution caused by these refrigerants. Strict implementation of these regulations could pose a challenge to the growth of the automotive air conditioner compressor market. In addition, the use of inferior quality refrigerants and associated leakage issues can negatively affect the growth of the market. However, automakers are working toward eliminating such issues by incorporating sophisticated and advanced technologies in air conditioning systems.
Automotive Air Conditioner Compressor Market Competitive Landscape
The competition among the key players in the global automotive air conditioner compressor market is fierce. This competition is expected to intensify in the coming years owing to the rapid technological advancements taking place in the industry. Major players in the market are increasing their investments in research and development to offer more efficient and economical products to the customers. Some of the key players operating in the industry are DENSO Corporation, Valeo SA, Delphi Technologies PLC, and Johnson Electric Holdings Ltd.
Other important market players include Sanden Corporation, OMEGA Environmental Technologies, Yantai Shougang TD Automotive Compressor Co. Ltd., Hella KGaA Hueck & Co., Zhejiang Santian Auto Air Conditioning Compressor Co. Ltd., Calsonic Kansei Corporation, and Dunair Smiths Manufacturing Pty. Ltd.
The report also includes country-wise analysis on the market. Some of the major countries covered in the report are the U.S., Canada, Mexico, Germany, the U.K., France, Italy, Spain, Netherlands, China, Japan, India, South Korea, Brazil, and Russia.
