European Automotive AC Compressor Market size is expected to cross USD 3.17 billion by 2028, according to a latest forecast report by Graphical Research.
The market growth is owing to growing sales of EVs in the region. The western Europe observed the roll out of more than 300,000 models of battery powered electric vehicles during the first quarter of 2022.
The penetration of electric vehicles is supported by the rising stringent government regulations pertaining to the CO2 emissions for the automotive industry. For instance, the EU presented its plan to reduce GHG emissions by 55% through 2030. Under this initiative, European automakers would be prompted to follow stringent pollution standards and push reduction of approximately 50% of carbon emissions per kilometer for passenger vehicles through 2030.
These factors would potentially bolster the EV sales in the coming years across the European economies.
The Europe automotive AC compressor market share from the electric driven segment will exceed USD 110 million by 2028, owing to increased efficiency and low noise operation. The market is expected to garner lucrative gains from the belt driven segment. The growth can be reasoned to the rising deployment of these compressors across different vehicles. Belt-driven compressors make use of engine power to fuel the refrigerant via a closed-cycle system of heat exchangers and valves. Another important factor driving the dynamics for belt-driven AC compressors market is the damage limitation offered by these in case of liquid entry into the refrigeration compressor of automobiles, in line with the flexibility of the belt material.
The light commercial vehicles segment would expand at a commendable pace over the coming years. The penetrating sales of LCVs across different European countries would add to the industry growth. According to ACEA statistics, the EU light commercial vehicle sales was around 329,606 units during the period of January 2022 to March 2022. Furthermore, the growing prevalence of e-commerce and retail operations in the region would escalate the transportation of goods, enabling faster and timely deliveries. This is anticipated to generate a strong demand for LCVs, in turn propelling the market prospects for automotive AC compressors in the forthcoming years.
Fixed displacement compressors segment, across the overall Europe automotive AC compressor market, would surge considerably over the foreseeable time frame. This can be supported by the elevating popularity of these compressors on grounds of their effective operational characteristics and reliable nature. Fixed displacement compressors are also known for their low weight and compact size, thus being highly preferred in different vehicle models.
Browse detailed statistical insights from the report, “Europe Automotive AC Compressor Market Forecast 2028 By Vehicle (Passenger Cars, LCV, HCV), By Type (Variable Displacement, Fixed Displacement, Electric Compressor), By Drive (Belt Driven, Electric Driven), By Sales Channel (OEM, Aftermarket), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The aftermarket segment is touted to secure a prominent share in the overall market. This can be attributed to the many advantages aftermarket has to offer. These include wider availability for automotive AC compressor parts, lower cost, superior quality, and increased availability.
Germany automotive AC compressor market will surpass USD 730 million by 2028, owing to the expanding automotive sector in the country and subsidies offered by the government to bolster the vehicle sales amidst the COVID-19 pandemic revival. Moreover, the government is investing some amount in supporting the country’s automotive sector to become more environmentally friendly. The German government, in 2021, introduced a support program worth USD 1.55 billion (approx. 1.5 billion euros) to help the car industry in the country become digitalized. The move forms Germany’s economic stimulus program to subside the effects of pandemic and is planned through 2024.
The European automotive AC compressor market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
Europe Market, By Vehicle Type
Europe Market, By Type
- Variable Displacement
- Fixed Displacement
- Electric Compressor
Europe Market, By Drive
Europe Market, By Sales Channel
The above information has been provided for the following countries: