According to the recently released report by Bekryl, ‘Global Air Conditioning Compressor Market’ is set to register 3.3% CAGR to create 1.3X higher revenue opportunity in 2028 than that in 2019. Higher sales of automotive vehicles and installation of value added and comfort features across all range of cars. Demand for AC compressors in car is registering upward trajectory growth since 2010. As a result, large scale enterprises are actively strengthening their market reach and increasing production capacity. The trend was noticed across major players. Furthermore, the industry is expected to be hypercompetitive with rise in automotive production.
Key Trends and Factors Driving the Global Automotive Air Conditioning Compressor Market Revenue
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According to the Bekryl, Asia Pacific Automotive Air Conditioning Compressor market accounted for 42% of global sales in 2018. Sales in Asia Pacific is expected to dominate the global sales owing to higher sales of automotive vehicles in the region. China, Japan and India are the major market that registered highest sales of automotive AC compressors. China is the leading manufacturer of cars worldwide. This has led automotive AC compressors market to consolidate in the OEM China. Moreover, major manufacturers have their production plant in the region to minimize the operational cost and generate higher return on investment (ROI).
Some key Automotive Air Conditioning Compressor market players are:
Industry Segmentation
By Vehicle Type:
By Product Type:
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