According to a report published by Transparency Market Research, the “Automotive AC Compressor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026”, the global market for automotive AC compressors is expected to reach $32.39 Billion by 2026. It is projected to expand at a CAGR of more than 2% between 2018 and 2026. The report sees the market influenced by a range of political, economic, social, technical, and industry-specific factors.
Highlights & Takeaways
- Transparency Market Research cites global warming as a major issue, with temperature of the environment increasing by one to two degrees every year. Vehicles are equipped with AC units to curtail these problems, which regulate the temperature of the vehicle interior. There are two broad segments of AC compressors: electrical and conventional.
- The automotive AC compressor market can be segmented based on design type, drive type, sales channel, vehicle type, and region. In terms of design type, the automotive AC compressor market can be divided into reciprocating and rotary.
- In terms of drive type, the global automotive AC compressor market can be bifurcated into electrical AC compressor and conventional AC compressor.
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- The passenger vehicles segment held 76% share of the global market in 2017.
- The OEM segment led the market, and accounted for 76.27% share of the market, in terms of revenue, in 2017.
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