The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Automotive AC Compressor Global Market Report 2024, the automotive AC compressor market is expected to show significant growth in the forecast period.

Steady Growth and Projections

• Market size grew steadily from $8.79 billion in 2023 to $9.16 billion in 2024, with a CAGR of 4.1%.
• Expected to reach $10.86 billion in 2028, with a projected CAGR of 4.4%.

Factors Influencing Growth

• Rise in automotive ownership.
• Consumer preferences for comfort.
• Economic growth and disposable income.
• Climate conditions and temperature extremes.
• Regulatory standards and emission norms.

Future Growth Dynamics

• Global urbanization trends.
• Shift toward electric and hybrid vehicles.
• Consumer demand for energy-efficient solutions.
• Climate change and temperature variability.
• Government initiatives for environmental sustainability.

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Anticipated Trends

• Focus on noise reduction.
• Global supply chain challenges.
• Rise of electric and hybrid vehicles.
• Innovation in materials.
• Strategic collaborations and partnerships.

Surging Automotive Production Fuels Growth

Impact of Automotive Production

• Automotive compressors are crucial for air conditioning systems.
• Increase in automotive production drives demand for AC compressors.
• In 2021, around 79.1 million vehicles were produced globally.

Key Players

• Continental AG
• Toyota Industries Corporation
• Hanon Systems Co. Ltd.
• Calsonic Kansei Corporation
• Subros Limited
• DENSO Corporation
• Delphi Technologies Inc.
• Hitachi Automotive Systems
• Johnson Controls Services Inc.
• Panasonic Corporation

Technological Advancements Propel Market

Focus on Advanced Technology

• Companies investing in technologically advanced products.
• Mahle introduced an e-compressor based on high voltage technology.
• Features include temperature control for e-drive and noise optimization.

Hisense Home Appliances Group Acquisition

• Hisense Home Appliances Group acquired controlling stake in Sanden Holdings Corporation.
• Expanded presence in automotive air conditioning market, particularly in Japan.

Segmentation of the Market

1. By Compressor Type
   • Variable Displacement
   • Fixed Displacement
   • Electric Compressor
2. By Vehicle Type
   • Passenger Cars
   • Light Commercial Vehicles
   • Heavy Commercial Vehicles
3. By Drive Type
   • Electric
   • Conventional
4. By Sales Channel
   • Original Equipment Manufacturer (OEM)
   • Replacement

Regional Analysis

Asia-Pacific Leading the Market

• Asia-Pacific was the largest region in 2023.
• Expected to be the fastest-growing region during the forecast period.

In conclusion, the automotive AC compressor market is witnessing substantial growth driven by various factors such as technological advancements, surging automotive production, and shifting consumer preferences towards comfort and energy efficiency. With innovative solutions and strategic partnerships, key players are poised to capitalize on this growth trajectory, especially in regions like Asia-Pacific where demand is rapidly expanding. As the automotive industry evolves, so too will the landscape of AC compressor technologies, paving the way for a more sustainable and comfortable driving experience.

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The Automotive AC Compressor Global Market Report 2024  provides an in-depth analysis on the automotive AC compressor market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive AC compressor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
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