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Asia Pacific Automotive AC Compressor Market Size By Type (Variable Displacement, Fixed Displacement, Electric Compressor), By Vehicle (Passenger Cars, LCV, HCV), By Drive (Belt Driven, Electric Driven), By Sales Channel (OEM, Aftermarket), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Published Date: December 2020 | Publisher: Graphical Research Report ID: GR1560 | Delivery : PDF  Request Free Sample

Industry Trends

Asia Pacific Automotive AC Compressor Market Value was USD 3.98 billion in 2019 and will grow at a CAGR of 4.4% up to 2026.
 

Asia Pacific Automotive AC Compressor Market

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Asia Pacific holds pole position in global automotive industry and displays promising growth potential in future. There has been rapid growth in region’s automotive sector owing to rising population, urbanization and significant GDP growth. Rising middle class population, high disposable income levels and demographic shifts are driving vehicle sales within the region. Affordable luxury, a growing phenomenon can be seen within Asian consumers as owning a car is seen as a symbol of success. These aforementioned trends are likely to continue in medium and long run leading to soaring demand of vehicles thereby propelling Asia Pacific automotive AC compressor growth.

According to The Organisation Internationale des Constructeurs d'Automobiles (OICA), Asia Pacific automotive production increased by nearly 20% between 2020 to 2019. In future, Asia Pacific region is expected to witness strong growth trajectory in future in terms of automotive production. The region is a breeding ground for many automotive start-ups especially electric vehicle startups. Rapid adoption of electric vehicles by china will potentially create many opportunities for electric vehicle startups. Many governments in Asia Pacific are formulating policies to boost the growth of automotive sector. This in turn will spur the sales of automotive air conditioning over the next few years.

In Asia Pacific market, heavy commercial vehicle will grow with a CAGR more than 5% by 2026. Rising sales of heavy commercial vehicles owing to replacement of ageing fleet and increasing demand from construction, mining, automotive and transportation sectors will contribute this segment’s growth in future. Changing landscape of logistics sector will result into fleet additions thereby further supporting segment’s growth.

Variable displacement segment will capture approximately 40% share in Asia Pacific market. Variable displacement AC compressors have unique compression mechanism, it automatically alters displacement volume depending on vehicle air conditioning requirements. It effectively controls the pressure differential between the cylinder inlet and crankcase while using pistons as actuators to change compressor displacement. These compressors offer excellent drivability, superior fuel economy and comfortable environment to passengers.

Electric driven segment will grow over 4% CAGR in market growth. The primary reasons behind rapid growth of these compressors are engine intendency and small size requirements. These compressors can modify their speed requirement and are easy to install. In addition, servicing of these compressors is less problematic. One of the major limitations of these compressors is their high power requirement thereby needing high capacity batteries. However, there is a plenty of scope for development for these compressors in future and many product manufacturers are continuously investing in research & development activities to develop the operational performance of these compressors. Aftermarket segment will capture less market share during the forecast period owing to inferior quality and lack of warranty.

Malaysia will witness around 4% CAGR in Asia Pacific automotive AC compressor industry by 2026. Political stability coupled with increasing consumer interests will boost the vehicle sales in upcoming years. Malaysian government developed Malaysian Automotive Policy to safeguard country’s automotive sector from competition of imported vehicles. In June 2020, it completely waived the sales tax for locally assembled vehicles and 50 percent reduction for imported cars to help automotive sector recover form coronavirus crisis.

The key manufacturers in Asia Pacific market are Toyota Industries Corporation, Denso Corporation, Mitsubishi Heavy Industries Thermal Systems, Ltd., Subros, Sanden Corporation, Hanon Systems and MAHLE Group.
 

Frequently Asked Question(FAQ) :

The market size of Asia Pacific Automotive AC Compressor was valued USD 3.98 billion in 2019.
The industry share of Asia Pacific Automotive AC Compressor is projected to witness more than 4.4% growth rate during 2020 to 2026.
Malaysia will witness around 4% CAGR in Asia Pacific automotive AC compressor industry by 2026. Political stability coupled with increasing consumer interests will boost the vehicle sales in upcoming years.

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