Automotive AC Compressor Market Size, Share & Trends 2032

The global automotive AC compressor market was estimated to be worth USD 24.29 billion in 2023 and is expected to grow to USD 31.98 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 3.10%. The growth factors, barriers to growth, and effects on demand for the worldwide automotive AC compressor market are examined in this study for the period of forecasting. Additionally, it will support exploration and navigation of the emerging opportunities in the Automotive AC Compressor Market sector.

Global Automotive AC Compressor Market: Overview

The vehicle’s compressor serves as the air conditioning system’s power source. The compressor applies high pressure to the refrigerant and transforms it from a gas into a liquid before pumping it into the condenser. For the air conditioning system to operate at its best, the compressor must be completely operational. Not only have air conditioning systems become necessary for cars, but also for buses and other passenger vehicles.

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Global Automotive AC Compressor Market: Growth Factors

The market for automobile AC compressors is expanding quickly worldwide. The global automotive AC compressor market is expanding due to factors like the quickly expanding automotive industry, the rise in the conversion of buses and passenger cars into air-conditioned vehicles in developing nations like India, and the rising demand for HVAC systems in cars to provide a more pleasant and comfortable ride. Air compressors have greatly facilitated people’s lives on multiple fronts since the early days of automobile assembly.

The development of technologies made it easier and less expensive to produce cars. As a result, there was an increase in car sales, which further accelerated market expansion. Furthermore, rising disposable income, rising purchasing power, and rising economic values in developing nations are some of the other reasons fueling the global auto industry’s expansion via increasing demand for automobiles.

Moreover, the rise in technological developments and the introduction of electric and hybrid vehicles could present several growth prospects for the worldwide automotive AC compressor market throughout the course of the forecast year. However, a few of the challenges that can prevent the global automotive AC compressor market from growing are high cost and maintenance concerns.

The Covid-19 epidemic has had a serious negative impact on the automotive industry. The government’s abrupt decision to impose a total lockdown and severe mobility restrictions in an effort to stop the disease’s spread led the automobile industry to cease all of its activities. This made it more difficult to produce the cars. Furthermore, the interruption in the supply chain resulted in a shortage of raw materials. This made it more difficult to produce the cars.

Additionally, a decrease in car sales has been seen as a result of a shift in consumer expenditure toward necessities during the epidemic. The demand for car air conditioning compressors declined along with the decline in the demand for automobiles due to all of these issues. During the Covid-19 pandemic, this had an impact on the expansion of the worldwide automobile AC compressor industry.

Global Automotive AC Compressor Market: Segmentation

Based on product type, vehicle type, design, sales channel, driving, and geography, the worldwide automotive AC compressor market is divided into submarkets. The global automotive AC compressor market is divided into three segments based on product type: electric compressor, fixed displacement, and variable displacement. The global market is divided into three segments based on the kind of vehicle: passenger cars, light commercial vehicles, and heavy commercial vehicles. The reciprocating and rotary segments make up the design segment. Aftermarket and OEMs make up the two halves of the sales channel. The market is divided into electric powered and belt-driven products depending on the drive.

Global Automotive AC Compressor Market: Regional Analysis

According to estimates, the automotive AC compressor industry is dominated geographically by the Asia Pacific region. Some of the main factors driving the growth of the market in this area are the presence of major automotive firms in nations like China and India, an increase in vehicle sales, the quick installation of air conditioning systems in passenger cars, rising purchasing power, and expanding economies. North America is expected to hold a sizable portion of the market due to the availability of cutting-edge technology, the rising popularity of electric and hybrid cars, and the rising need for air conditioning systems for opulent and cozy interiors. A sizeable portion of the market expansion is anticipated to come from the European market as well.

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