Automotive Air Conditioner Compressor Market Overview by Key Growth Drivers and Current Industry Trends, 2024

Automotive Air Conditioner Compressor Market Automotive Air Conditioner Compressor Market

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.

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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.

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.

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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.

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