LeapZipBlog: Steve Blade's blog: Automotive Compressors Market Register a Healthy CAGR Over the Forecast Period 2018-2028

Automotive Compressors Market Register a Healthy CAGR Over the Forecast Period 2018-2028

July 3, 2019 by Steve Blade  

Automotive compressors have become one of the basic products in all the vehicles in the current scenario. Automotive compressors are used to power a vehicle based air conditioning system. They are mechanical pumping devices and their main function is to compress and transfer the cooled air through vehicle A/C system and vents. There are different types of automotive compressors used in the market, the most commonly used Automotive Compressors are scroll, variable displacement and rotary piston.

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Being considered as one of the most historic inventions in the automotive components, Automotive compressors have changed the dynamics of the automotive industry over the past few years as the end users have an increased driving comfort via A/C cooling & ventilation aids in offsetting the heat generated in the interior space. Now-a-days, the air conditioning system has become of the standard feature of any vehicle sold across the global market. Hence, is it estimated that the automotive air compressors market will grow with a healthy growth rate over the coming years in the global market.

Automotive Compressors Market: Dynamics

The growth of vehicle production and increasing attractiveness of efficient and seamless air conditioning systems among the consumers is estimated to fuel the demand for the automotive compressors over the forthcoming years. The extreme and tropical climatic conditions have acted as a catalyst to boost the sales of automotive compressors in the global as well as the regions. The use of automotive compressors has made driving an easy and comfortable for the consumers among the globe and this factors is projected to create lucrative growth opportunities for all the market participants across the market value chain.

The commercial vehicle segment is estimated to hold prominent market share in the global automotive compressors market. Commercial vehicles travel long distances and are continuously used, hence it’s very essential for them have a comfortable environment for the drivers, which can be achieved by the use of automotive compressors for cabin cooling and heating. Thus the growth of commercial vehicles is expected create excellent growth opportunities for the global automotive compressors market over the forthcoming years.

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The growth of logistics, trade and bus transport by the use of commercial vehicles is also one of the prominent driving factors which will enable the automotive compressors market to register a healthy CAGR over the forecast period. The growing passenger transport through buses and coaches for long distances is forcing the travel operators to install more efficient and powerful automotive compressors, this factor is anticipated to drive the market for automotive compressors in the near future.

Automotive compressors are one of the significant HVAC component in the global market, which makes the product profitable, owing to the greater dependability, safety and luxury offered by manufacturers. Dependability is a concern for all industries, owing to the need for better outcomes and higher productivity. Another step towards development of automotive compressors by OEMs has been greater emphasis on fuel efficient models. The demand for safety is constantly increasing, due to the increasing consumer inclination towards hassle-free and comfortable driving. Consumers are keen on opting for automotive compressors with excellent material strength and cooling capacity. Comfort and safety of drivers, along with the ease in driving, are considered to be the significant drivers attracting consumers towards automotive compressors in the global market.

Automotive Compressors Market: Regional Outlook

The increasing vehicle production in Regions such as East Asia, South Asia, Latin America and Eastern Europe is estimated to propel the demand for auto-parts such as the automotive compressors in the near future. Whereas, the regions such North America and Europe is anticipated to have good opportunities for the aftermarket owing to the increasing fleet size. In most of the emerging economies such as India, China, Brazil, Russia, Mexico, etc. the increasing vehicle production is estimated to augment the demand for automotive compressors over the forecast period. Additionally, owing to the aforementioned factors the global automotive compressors market is estimated to experience a healthy CAGR throughout the forecast period.

Automotive Compressors Market: Market Participants

Examples of some of the market participants in the global automotive compressors market are Robert Bosch GmbH, Continental AG, Delphi Technologies, Behr Hella Service GmbH, Calsonic Kansei Corporation, Hanon Systems, Michigan Automotive Compressor, Inc. Keihin Corporation, MAHLE GmbH, DENSO Corporation, Subros Limited, Valeo SA, Toyota Industries Corporation

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