Automotive AC Compressor Market Outlook by Growth Trends, Opportunities and Forecast to 2026

Asia-pacific automotive AC compressor market is expected to witness strong growth over the coming years. The projected growth is ascribed to the region’s large automotive production. APAC is home to a number of prominent local as well as international vehicle manufacturers. The regional market is also likely to be driven by increasing penetration of air condition systems in the heavy commercial vehicle segment, especially in countries like India and ASEAN nations.

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The automotive AC compressor market is anticipated to grow at a rapid pace owing to the increasing adoption of air conditioning systems in passenger cars across emerging economies. In addition, owing to tightening environmental regulations, vehicle manufacturers are frequently innovating ways to enhance fuel efficiency of their compressors to reduce emissions and help prevent global warming. These initiatives would also play a major role in fostering market outlook.

At present, automotive manufacturers have also been adopting strategies such as partnerships, acquisitions, and novel product development and launches to strengthen their global position. Citing an instance, in November 2019, Pierburg GmbH, a global leader in the design, development and production of automobile components, reportedly introduced a new  electric a/c compressor especially designed for EVs.

With respect to drive, the belt driven segment is likely to experience around 3.5% CAGR through the analysis time period. The anticipated growth is ascribed to cost-effectiveness and higher IC engine vehicle production across the globe. These types of compressors operate with the help of engine and does not need an additional source of power. This further leads to higher product penetration. 

Meanwhile, industry participants are focusing on acquisition of other market players to increase their market presence and product portfolio. Citing an instance, in April 2019, Standard Motor Products, Inc., a leading automotive replacement parts distributor and manufacturer, reportedly announced its acquisition of certain liabilities and assets of the Pollak business of Stoneridge, Inc. for nearly $40 million, liable to post-closing adjustments.

The acquisition is likely to provide new growth opportunities to the company in commercial, heavy duty, and OE/OES markets and would add SMPs existing expertise in product management, service, and aftermarket distribution. The novel market exposure would also provide business growth opportunities for their present product lines and potential for novel products to manufacture and sell.

SANDEN, Automotive Thermal Systems Co., Ltd, Aotecar New Energy Technology Co., Ltd., Nissens, Denso Corporation, Standard Motor Product Inc., Subros, Toyota Industries, MAHLE, Mitsubishi Heavy Industries, and Hanon Systems among many others are some of the key players operating in the automotive AC compressor market.

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Some Point from Table of Contents:

Chapter 6 Automotive AC Compressor Market, By Drive

6.1   Global automotive AC compressors market insights, by Drive

6.2   Belt Driven

6.2.1   Global market estimates and forecasts, 2016 - 2026

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

6.3   Electric Driven

6.3.1   Global market estimates and forecasts, 2016 - 2026

6.3.2   Market estimates and forecast, by region, 2016 – 2026

Chapter 7   Automotive AC Compressor Market, By Sales Channel

7.1   Global automotive AC compressor market insights, by sales channel

7.2   OEM

7.2.1   Global market estimates and forecasts, 2016 - 2026

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

7.3   Aftermarket

7.3.1   Global market estimates and forecasts, 2016 – 2026

7.3.2   Market estimates and forecast, by region, 2016 – 2026

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