1. What is the projected Compound Annual Growth Rate (CAGR) of the Automotive Compressor Market?
The projected CAGR is approximately 8.47%.
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Automotive Compressor MarketAutomotive Compressor Market by Drive Type (Electric, Conventional), by Type (Swash-Plate Compressor, Rotary Compressor, Scroll Compressor), by Vehicle Type (Passenger Cars, Commercial Vehicles), by By Geography (North America), by Europe (U.K., Germany, France, RoEU), by Asia Pacific (China, Japan, India, South Korea, RoAPAC) Forecast 2026-2034
The Automotive Compressor Market size was valued at USD 12.56 USD Billion in 2023 and is projected to reach USD 22.19 USD Billion by 2032, exhibiting a CAGR of 8.47 % during the forecast period. Air conditioners are an important function of both cars and buses. The car's air conditioning compressor acts as the power source for the air conditioning system, pushing the refrigerant to high pressure before it is pumped into the condenser. In the condenser, the refrigerant changes from gas to liquid, which ensures the maximum performance of the air conditioning system. The car air conditioner market is expected to grow due to increasing demand for vehicle comfort and increasing number of road vehicles around the world. The market growth is also influenced by the demand for electric vehicles across the world in various industries. However, maintenance issues and technical limitations may limit the growth of the market
Drive Type
Type
Vehicle Type
This report provides in-depth analysis of the global automotive compressor market, including:
The Asia-Pacific region currently holds a dominant position in the automotive compressor market, driven by the significant automotive production capacity in countries like China and India. Europe and North America represent substantial markets characterized by a focus on advanced automotive technologies and higher adoption rates of electric vehicles.
Pricing strategies vary among manufacturers based on factors such as product type, quality, brand reputation, and competition.
DROCs (Direct Raw Material Costs) comprise a significant portion of the automotive compressor market.
The market is segmented based on drive type, type, vehicle type, and region.
A comprehensive SWOT analysis provides insights into the market's strengths, weaknesses, opportunities, and threats.
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 8.47% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 8.47%.
Key companies in the market include Brogwarner Inc (U.S.), Mahle GmbH (Germany), Subros Ltd (India), Mitsubishi Heavy Industries Thermal System Ltd. (Japan), Toyota Industries Corp (Japan), Sanden Corp (Japan), Highly Marelli Holdings (Japan), Valeo S.A (France), Denso Corp (Japan), Hanon Systems (South Korea).
The market segments include Drive Type, Type, Vehicle Type.
The market size is estimated to be USD 12.56 USD Billion as of 2022.
Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.
Rising Adoption of Automation in Manufacturing to Drive Market Growth.
High Manufacturing Cost May Hamper the Market Growth.
June 2023: Garrett Motion Inc. is a leading technology innovator in the automotive sector and supports the BMW Group's efforts to develop zero-emission hydrogen fuel cell vehicles. This support came in the form of an innovative electric fuel cell compressor (FCC) designed and developed by Garrett's experienced research and development team.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Units.
Yes, the market keyword associated with the report is "Automotive Compressor Market," which aids in identifying and referencing the specific market segment covered.
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