Automotive Compressor Market
Growth Factors of Automotive Compressor Market
The Automotive Compressor Market size was valued at USD 12.56 billion in 2022. The market is projected to grow from USD 13.34 billion in 2023 to USD 23.56 billion by 2030, exhibiting a CAGR of 8.47% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted worldwide supply chains, main to manufacturing delays and decreased vehicle call for, drastically affecting the car compressor market. Lockdowns and restrictions on production sports led to declining sales for automakers, impacting the call for for compressors. However, the slow restoration of the automobile region in 2021, pushed by way of the easing of restrictions, inspired a resurgence in manufacturing. Additionally, the shift towards private mobility submit-pandemic caused accelerated demand for passenger motors, helping the healing of the compressor marketplace.
A key trend inside the automotive compressor market is the shift closer to electric compressors, pushed by means of the developing reputation of electric automobiles (EVs). Unlike traditional belt-driven compressors, electric powered compressors operate independently of the engine, improving strength performance and enabling enhanced weather manipulate for EVs. As automakers attention on sustainability and EV adoption hurries up, the call for for electric powered compressors is rising, making them a pivotal factor in modern motors.
The growing call for for cars with advanced air con systems is a primary driving thing for the car compressor market. Consumers increasingly are trying to find snug using studies, particularly in regions with intense climates. Automakers are equipping motors with excessive-overall performance aircon structures to enhance customer pleasure. Additionally, the upward thrust of top rate and luxury motors with dual-region or multi-region weather control structures similarly fuels the demand for green compressors, boosting market boom.
Comprehensive Analysis of Automotive Compressor Market
The Automotive Compressor Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by drive type,by type, by vehicle type. By Drive Type include Electric, Conventional. By Type include Swash-Plate Compressor, Rotary Compresso,r Scroll Compressor. By Vehicle Type include Passenger Cars, Commercial Vehicles.
The Asia Pacific location lead the Automotive Compressor Market share percentage via benefitting a marketplace size of USD 5.32 billion It is a global hub for plastic production and processing.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
June 2023: Garrett Motion Inc. Is a main technology innovator within the automobile region and helps the BMW Group's efforts to broaden zero-emission hydrogen fuel cellular vehicles. This help came within the shape of an innovative electric powered fuel mobile compressor (FCC) designed and evolved via Garrett's experienced research and improvement group.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 8.47% from 2023 to 2030
Unit Value (USD Billion) and Volume (Units)
Segmentation By Drive Type
Electric
Conventional
By Type
Swash-Plate Compressor
Rotary Compressor
Scroll Compressor
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Geography
North America (By Drive Type, By Vehicle Type, By Type, By Country)
- U.S. (By Drive Type, By Vehicle Type, By Type)
- Canada (By Drive Type, By Vehicle Type, By Type)
- Mexico (By Drive Type, By Vehicle Type, By Type)
Europe (By Drive Type, By Vehicle Type, By Type, By Country)
- U.K. (By Drive Type, By Vehicle Type, By Type)
- Germany (By Drive Type, By Vehicle Type, By Type)
- France (By Drive Type, By Vehicle Type, By Type)
- RoEU (By Drive Type, By Vehicle Type, By Type)
Asia Pacific (By Drive Type, By Vehicle Type, By Type, By Country)
- China (By Drive Type, By Vehicle Type, By Type)
- Japan (By Drive Type, By Vehicle Type, By Type)
- India (By Drive Type, By Vehicle Type, By Type)
- South Korea (By Drive Type, By Vehicle Type, By Type)
- RoAPAC (By Drive Type, By Vehicle Type, By Type)
Rest of the world ( By Drive Type, By Vehicle Type, By Type)
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