- In the light of urbanization, industrialization in emerging economies demand upsurge in demand for passenger, commercial vehicles underscores growth
- Significant investments by OEMS to support economic interest of governments to increase vehicle production expands growth vistas in Latin America
ALBANY, N.Y., April 6, 2021 /PRNewswire/ -- Automotive AC Compressor Market – Overview
For its critical function in the working of an air conditioner, the compressor is aptly known as its heart, in automobiles too. For automobiles, irrespective of the type, the compressor compresses the refrigerant to absorb heat from the cabin air. However, electrical AC compressors for automobiles are advanced as they help to reduce vehicular emissions. In addition, electrical type AC compressors are suitable for premium vehicles, and newly introduced electric vehicles that are increasingly gaining traction.
In fact, electrical AC compressors are gaining the attention of governments and environment conservation departments in their role to reduce vehicular emissions, which mainly comprises greenhouse gases such as CO2 and methane. Since greenhouse gas emissions is a global subject discussed among political, social, and technical circles, in a bid to reduce the emissions emanating from all possible sources of everyday functioning, the automotive sector is under scrutiny. To address this, automotive manufacturers are striving for design innovations, along with focus on upgrade of automotive AC compressor. This, in turn, is creating opportunities in the automotive AC compressor market, as a result of which is predicted to be worth US$32.39 bn by 2026.
Automotive AC Compressor Market –Key Findings of the Report
Demand for light vehicles in light of urbanization, privatization spells Growth
The phenomenon of globalization and liberalization that has paved the way for urbanization and industrialization in several emerging economies of the world has fueled the demand for light vehicles in turn, considerably. However, the climatic conditions requires commercial and passenger vehicles to be equipped with HVAC systems to control cabin temperature of automobiles for the comfort of passengers. HVAC systems comprise a number of components, of which automotive AC compressor is integral. This indirectly translates into gains for the automotive AC compressor market.
Exponential Rise in Production of Commercial, Passenger Vehicles underscores Growth
Economic growth, rising disposable incomes, and drop in loan rates have led to a surge in vehicle ownership, including premium and electric vehicles. In fact, to serve the comfort quotient of the new-age consumers most vehicles are equipped with HVAC systems to control inside temperatures of vehicles. HVAC systems are mostly compatible across all class of automobiles, and are mostly essential component of automobiles for the demand of comfort and easy rides. As a result, the individual elements of HVAC systems, of which AC compressor is integral is witnessing an uptick in demand. The automotive AC compressor market gain, in turn.
Explore 460 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive AC Compressor Market (Design Type - Reciprocating Type (Swash, Wobble), Rotary Type (Scroll, Vane, Screw); Drive Type - Electric, Conventional (Belt Driven); Vehicle Type - Passenger Vehicles, Commercial Vehicles; Sales Channel - OEMs, Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/automotive-ac-compressor-market.html
Electric Product type Automotive AC Compressors at gains over conventional counterpart
Electric automotive AC compressors have an edge over their conventional counterpart as they help to reduce vehicular emissions, of which greenhouses gases is a major constituent. With the increasing concerns to reduce vehicular emissions, with the larger target being zero vehicular emissions, electric automotive AC compressors is witnessing increasing adoption.
Automotive AC Compressor Market – Growth Drivers
Advent of globalization, liberalization leading to urbanization and industrialization in emerging economies spelling demand for light commercial and passenger vehicles indirectly creating opportunities in automotive AC compressor market.
Significant investments by OEMs and governments of countries in Latin America to boost vehicle production in the interest of economic growth is benefitting several ancillary industries in the region. This includes automotive AC compressor segment within HVAC industrial sector.
Analyze global Automotive Ac Compressor Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
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