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Classified in: Transportation, Covid-19 virus
Subject: MRR

Automotive HVAC Compressor Market: 4.79% Y-O-Y Growth Rate in 2021 | Market Size by Application Growth Potential, Geography, COVID-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2021 - 2025


NEW YORK, July 1, 2022 /PRNewswire/ -- The Automotive HVAC Compressor Market is segmented by Geography (APAC, Europe, North America, South America, and MEA). 55% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive heating, ventilation, and air conditioning (HVAC) compressor market in APAC. Market growth in this region will be faster than the growth of the European and Middle East African markets. The increasing penetration rate of HVAC systems in the commercial vehicles segment will facilitate the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth in APAC over the forecast period. 

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The Automotive HVAC Compressor Market value is set to grow by 33.23 million units, progressing at a CAGR of 7.49% from 2020 to 2025, as per the latest report by Technavio.

Automotive HVAC Compressor Market 2021-2025: Increasing Adoption of Automotive HVAC Electric Compressors to Drive the Market Growth

An automotive HVAC compressor is generally powered by a drive belt which increases the engine load resulting in increased fuel consumption and exhaust gas emissions. To overcome this drawback, automotive HVAC compressor manufacturers developed compressors that are powered independently by a motor without the need for an automotive engine to be switched on. The built-in motor in the automotive HVAC electric compressor powers it without the need for an engine to be switched on. Therefore, automotive HVAC electric compressors use electric heaters or heat pumps, which are powered by vehicle batteries to generate heat. Moreover, HVAC electric compressors are produced in lower volumes than belt-driven HVAC compressors. Therefore, the increased production cost is pushed to automotive HVAC manufacturers and vehicle manufacturers, resulting in increased revenue for automotive HVAC compressor manufacturers. Therefore, the increasing adoption of automotive HVAC electric compressors is expected to drive the global automotive HVAC compressor market in terms of revenue during the forecast period.

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Automotive HVAC Compressor Market 2021-2025: Segmentation

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Automotive HVAC Compressor Market 2021-2025: Vehicle Recalls Due to Potential HVAC Compressor Failure will Challenge the Market Growth

Defective products or potential failures of systems in vehicles result in product recall by vehicle manufacturers. Earlier, vehicle manufacturers had to bear the complete cost of a product recall. However, the improvement in vendor relationships and collaborative work with suppliers across the upstream of the value chain have encouraged suppliers and manufacturers to share the recall cost. Although this has reduced the cost burden on vehicle manufacturers, tier-1 suppliers, and other stakeholders in the value chain, it is still adding a certain cost for these stakeholders, thereby leading to a reduced profit margin. Therefore, vehicle recalls due to defective products or potential system failures constitute a challenge for all the stakeholders related to the products.

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Automotive HVAC Compressor Market 2021-2025: Scope

Our market report covers the following areas:

Automotive HVAC Compressor Market 2021-2025: Vendor Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

The automotive heating, ventilation, and air conditioning (HVAC) compressor market is fragmented and the vendors are deploying growth strategies such as investing in R&D to introduce better products into the market and expand their customer base to compete in the market.

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Automotive HVAC Compressor Market 2021-2025: Key Highlights

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Automotive Refrigerant Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026: The automotive refrigerant market share is expected to surge by 486.36 thousand units by 2026 at a progressive CAGR of 5.57%. Key companies like - AGC Inc. offers an HFC type of refrigerant named Asahiklin AK 134a with a high level of stability, primarily used in applications such as automobile air conditioners and centrifugal refrigerators. Find More Key Market Data Here

Automotive HVAC Compressor Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.49%

Market growth 2021-2025

33.23 mn units

Market structure

Fragmented

YoY growth (%)

4.79

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 55%

Key consumer countries

China, US, Japan, Germany, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

DENSO Corp., ESTRA Automotive Systems Co. Ltd., Hanon Systems, HELLA GmbH and Co. KGaA, MAHLE GmbH, Marelli Holdings Co. Ltd., Mitsubishi Heavy Industries Ltd., Subros Ltd., Toyota Industries Corp., and Valeo SA

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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