Automotive AC Compressor Market to Cross USD 10B by 2026; Global Market Insights, Inc.

SELBYVILLE, Del., Oct. 19, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the automotive AC compressor market, which estimates the market valuation for automotive AC compressor will cross US $10 billion by 2026. The increasing penetration of air condition systems in passenger cars in the emerging countries will drive the demand for automotive AC compressors.

The automotive AC compressor manufacturers are constantly improving fuel efficiency of their compressors in an attempt to minimize air pollution and prevent global warming. Design improvement will lead to an increasing need for lightweight and compact solutions. To cater to this demand, various manufacturers are developing compressors that offer a variable output displacement as per the external variables such as driving speed, sunlight, and surrounding temperature.

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Industry participants are focusing on the acquisition of regional players to increase their market presence as well as product portfolio. In 2019, Standard Motor Products Inc. acquired a 29% share of Jiangsu Che Yijia New Energy Technology Co., which is engaged in the production of automotive AC compressors for electric vehicles in China. This strategy will enable the company to acquire the technology related to electric compressors, which is expected to observe significant growth in the foreseeable future.

The belt-driven segment will observe over a 3.5% CAGR in the automotive AC compressor market size and is attributed to higher IC engine vehicle production worldwide. A belt-driven compressor operates with the help of an engine and doesn't require an extra source of power, which results in further penetration of the product. Cost-effectiveness is a key benefit that will improve industry growth during the forecast period.

In 2019, North America held over a 15% market share in the automotive AC compressor market size. Development in the U.S. automotive AC compressor industry can be attributed to the large automotive production and increased electric vehicle production sales. Moreover, the increasing adoption of air conditioning systems in the HCV segment will induce significant growth potential in the regional landscape. The prominent manufacturers across North America are focusing on remanufacturing and repairing services of old automotive AC compressors, which can operate by using environment-friendly refrigerants to replace chlorofluorocarbons (CFCs).

Browse key industry insights spread across 220 pages with 276 market data tables & 22 figures & charts from the report, "Automotive AC Compressor Market Share & Forecast, 2020 - 2026" in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-ac-compressor-market

The key automotive AC compressor market players are focusing on investment in the new technology, joint venture, and acquisition to increase their global footprint or acquire advanced technology to cater to the increasing demand from the electric AC compressor market. For instance, in 2018, Hanon Systems had a joint venture with FAWER to establish FAWER Hanon Automotive Components Co., Ltd. (FHAC) for producing electric compressors in Changchun, China.

Some major findings of the automotive AC compressor market report include:

- Asia-Pacific is expected to lead in the global automotive AC compressor market due to its large automotive production and increasing air condition adoption in the HCV segment mainly in ASEAN and India.

- Market players are focusing on developing more compact and lightweight automotive AC compressors to improve the fuel efficiency since they help in reducing the load on the automotive engine.

- The fixed displacement compressor type is expected to observe significant growth across the emerging economics owing to its lower price compared to its counterparts.

Browse the complete report's table of contents at https://www.gminsights.com/toc/detail/automotive-ac-compressor-m,arket

Partial chapters of the report's table of contents (TOC):

Chapter 3 Global Automotive AC Compressors Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2016 - 2026

3.3 Industry ecosystem analysis

3.3.1 Raw material supply

3.3.2 Value addition at each stage

3.3.3 Vendor matrix

3.3.3.1 List of key raw material suppliers

3.3.3.2 List of key automotive AC compressors manufactures

3.3.3.3 List of key/potential customers

3.4 Pricing analysis (including COVID-19 impact)

3.4.1 Regional price trends

3.4.2 Cost structure analysis, 2019

3.5 Innovation & sustainability

3.5.1 Technology landscape

3.5.2 Future trends

3.6 Regulatory landscape

3.6.1 U.S.

3.6.2 Europe

3.6.3 Asia Pacific

3.7 Industry impact forces

3.7.1 Growth drivers

3.7.1.1 Increasing focus on light-weighting and fuel efficiency products

3.7.1.2 Growth in passenger vehicle sales

3.7.1.3 Increasing automotive production & presence of auto players

3.7.1.4 The increasing adoption of EVs is likely to surge the Industry proliferation

3.7.2 Industry pitfalls & challenges

3.7.2.1 higher operation life and ease of repair likely to curb the market

3.7.2.2 Prohibitive cost of Air-Conditioning System

3.8 Automotive Industry overview

3.8.1 Automotive production by region 2016-2019

3.8.2 Automotive sales by region 2016-2019

3.8.3 Automotive vehicle in-use by region, 2019

3.9 Growth potential analysis, 2019

3.10 Porter's analysis

3.11 Competitive landscape

3.11.1 Top player's analysis, 2019

3.11.2 Strategy dashboard

3.12 PESTLE analysis

Chapter 4 Automotive AC Compressors Market, by Vehicle

4.1 Global automotive AC compressors market insights, by vehicle

4.2 Passenger Cars

4.2.1 Global market estimates and forecasts, 2016 - 2026

4.2.2 Market estimates and forecast, by region, 2016 - 2026

4.3 LCV

4.3.1 Global market estimates and forecasts, 2016 - 2026

4.3.2 Market estimates and forecast, by region, 2016 - 2026

4.4 HCV

4.4.1 Global market estimates and forecasts, 2016 - 2026

4.4.2 Market estimates and forecast, by region, 2016 - 2026

Browse related report:

Automotive Aftermarket Size By Product (Replacement Parts [Belt, Brakes, Clutch, Electrical Parts, Lighting, Electrical & AC Parts, Exhaust, Filters, Suspensions, Transmission, Wiper Parts], Accessories [Car Exteriors, Car Interiors]), By Sales Outlet (Professional [Quick Lubes, Garages & Service Stations, Automobile Dealerships, Government, Commercial Fleets & Other Professional Outlets], DIY [Discount Department Stores, Auto Parts Stores], OEM Factory Fill ), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026

https://www.gminsights.com/industry-analysis/automotive-aftermarket

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Automotive AC Compressor Market size worth over $ 10B by 2026
Automotive AC Compressor Market size is expected to exceed USD 10 billion by the end of 2026, according to a new research report published by the Global Market Insights, Inc.

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SOURCE Global Market Insights, Inc.