The North America Automotive AC Compressor Market should witness market growth of 3.1% CAGR during the forecast period (2022-2028).
Automotive AC Compressors are becoming more cost-effective in terms of both manufacturing and operation owing to a number of new technologies that are entering the market. Installation of small, lightweight compressors is becoming increasingly widespread across all vehicle categories. Achieving fuel economy goals and lowering vehicle noise as well as vibration levels are also made easier by these technologies.
Air conditioning systems are now a standard feature in all types of vehicles, including light commercial vehicles (LCVs) as well as heavy commercial vehicles (HCV). The aftermarket fitting of ACsystems in automobiles offers enormous opportunities in developing economies, and this trend is projected to continue for the next few years. The marketis expanding due to an increase in vehicle production, a larger fleet on the road, and increased installation of amenities andcomfort features in automobiles in the economy category.
Canada is North America's second-largest vehicle market after the United States. Imported vehicles make up about 75% of the new car market. In Canada, most foreign automakers have operations, and five of them, namely Ford, General Motors, Toyota,FCA, and Honda, also have local production lines. Both countries have similar regulatory settings for the auto sector, and more than 90% of their respective road safety laws are in sync. Better governing laws have increased the safety of vehicles manifold, which significantly attract more customers. Since the United States Mexico Canada Agreement (USMCA) was signed, the pace of electrification of passenger vehicles has increased, which has implications for the North American supply chain. The automotive AC compressor market is expanding significantly as a result of the high production ofvehicles in the region.
The US market dominated the North America Automotive AC Compressor Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,958 million by 2028. The Canada market is poised to grow at a CAGR of 5.4% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 4.5% during (2022-2028).
Based on Vehicle Type, the market is segmented into Passenger Cars, Heavy Commercial Vehicles and Light Commercial Vehicles. Based on Compressor Type, the market is segmented into Variable Displacement, Fixed Displacement and Electric Compressor. Based on Drive Type, the market is segmented into Conventional and Electric. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Hanon SYSTEMS (Hahn & Co. Auto Holdings Co., Ltd.), Toyota Industries Corporation, Mitsubishi Heavy Industries Ltd., Subros Ltd, Mahle GmbH (Mahle Stiftung GmbH), Denso Corporation, Sanden Corporation (Hisense Home Appliances Group Co., Ltd), Valeo SA, and BorgWarner Inc.
Automotive AC Compressors are becoming more cost-effective in terms of both manufacturing and operation owing to a number of new technologies that are entering the market. Installation of small, lightweight compressors is becoming increasingly widespread across all vehicle categories. Achieving fuel economy goals and lowering vehicle noise as well as vibration levels are also made easier by these technologies.
Air conditioning systems are now a standard feature in all types of vehicles, including light commercial vehicles (LCVs) as well as heavy commercial vehicles (HCV). The aftermarket fitting of ACsystems in automobiles offers enormous opportunities in developing economies, and this trend is projected to continue for the next few years. The marketis expanding due to an increase in vehicle production, a larger fleet on the road, and increased installation of amenities andcomfort features in automobiles in the economy category.
Canada is North America's second-largest vehicle market after the United States. Imported vehicles make up about 75% of the new car market. In Canada, most foreign automakers have operations, and five of them, namely Ford, General Motors, Toyota,FCA, and Honda, also have local production lines. Both countries have similar regulatory settings for the auto sector, and more than 90% of their respective road safety laws are in sync. Better governing laws have increased the safety of vehicles manifold, which significantly attract more customers. Since the United States Mexico Canada Agreement (USMCA) was signed, the pace of electrification of passenger vehicles has increased, which has implications for the North American supply chain. The automotive AC compressor market is expanding significantly as a result of the high production ofvehicles in the region.
The US market dominated the North America Automotive AC Compressor Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,958 million by 2028. The Canada market is poised to grow at a CAGR of 5.4% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 4.5% during (2022-2028).
Based on Vehicle Type, the market is segmented into Passenger Cars, Heavy Commercial Vehicles and Light Commercial Vehicles. Based on Compressor Type, the market is segmented into Variable Displacement, Fixed Displacement and Electric Compressor. Based on Drive Type, the market is segmented into Conventional and Electric. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Hanon SYSTEMS (Hahn & Co. Auto Holdings Co., Ltd.), Toyota Industries Corporation, Mitsubishi Heavy Industries Ltd., Subros Ltd, Mahle GmbH (Mahle Stiftung GmbH), Denso Corporation, Sanden Corporation (Hisense Home Appliances Group Co., Ltd), Valeo SA, and BorgWarner Inc.
Scope of the Study
By Vehicle Type
- Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
By Compressor Type
- Variable Displacement
- Fixed Displacement
- Electric Compressor
By Drive Type
- Conventional
- Electric
By Sales Channel
- OEM
- Aftermarket
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Continental AG
- Hanon SYSTEMS (Hahn & Co. Auto Holdings Co., Ltd.)
- Toyota Industries Corporation
- Mitsubishi Heavy Industries Ltd.
- Subros Ltd
- Mahle GmbH (Mahle Stiftung GmbH)
- Denso Corporation
- Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
- Valeo SA
- BorgWarner Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Automotive AC Compressor Market, by Vehicle Type
1.4.2 North America Automotive AC Compressor Market, by Compressor Type
1.4.3 North America Automotive AC Compressor Market, by Drive Type
1.4.4 North America Automotive AC Compressor Market, by Sales Channel
1.4.5 North America Automotive AC Compressor Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Automotive AC Compressor Market by Vehicle Type
3.1 North America Passenger Cars Market by Country
3.2 North America Heavy Commercial Vehicles Market by Country
3.3 North America Light Commercial Vehicles Market by Country
Chapter 4. North America Automotive AC Compressor Market by Compressor Type
4.1 North America Variable Displacement Market by Country
4.2 North America Fixed Displacement Market by Country
4.3 North America Electric Compressor Market by Country
Chapter 5. North America Automotive AC Compressor Market by Drive Type
5.1 North America Conventional Market by Country
5.2 North America Electric Market by Country
Chapter 6. North America Automotive AC Compressor Market by Sales Channel
6.1 North America OEM Market by Country
6.2 North America Aftermarket Market by Country
Chapter 7. North America Automotive AC Compressor Market by Country
7.1 US Automotive AC Compressor Market
7.1.1 US Automotive AC Compressor Market by Vehicle Type
7.1.2 US Automotive AC Compressor Market by Compressor Type
7.1.3 US Automotive AC Compressor Market by Drive Type
7.1.4 US Automotive AC Compressor Market by Sales Channel
7.2 Canada Automotive AC Compressor Market
7.2.1 Canada Automotive AC Compressor Market by Vehicle Type
7.2.2 Canada Automotive AC Compressor Market by Compressor Type
7.2.3 Canada Automotive AC Compressor Market by Drive Type
7.2.4 Canada Automotive AC Compressor Market by Sales Channel
7.3 Mexico Automotive AC Compressor Market
7.3.1 Mexico Automotive AC Compressor Market by Vehicle Type
7.3.2 Mexico Automotive AC Compressor Market by Compressor Type
7.3.3 Mexico Automotive AC Compressor Market by Drive Type
7.3.4 Mexico Automotive AC Compressor Market by Sales Channel
7.4 Rest of North America Automotive AC Compressor Market
7.4.1 Rest of North America Automotive AC Compressor Market by Vehicle Type
7.4.2 Rest of North America Automotive AC Compressor Market by Compressor Type
7.4.3 Rest of North America Automotive AC Compressor Market by Drive Type
7.4.4 Rest of North America Automotive AC Compressor Market by Sales Channel
Chapter 8. Company Profiles
8.1 Continental AG
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 SWOT Analysis
8.2 Hanon SYSTEMS (Hahn & Co. Auto Holdings Co., Ltd.)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Research & Development Expenses
8.2.4 Recent strategies and developments:
8.2.4.1 Acquisition, Mergers and Joint Ventures:
8.2.4.2 Geographical Expansions:
8.3 Toyota Industries Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 Mitsubishi Heavy Industries Ltd.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.5 Subros Ltd
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Recent strategies and developments:
8.5.3.1 Geographical Expansions:
8.6 Mahle GmbH (Mahle Stiftung GmbH)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.7 Denso Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expense
8.8 Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.9 Valeo SA
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.10. BorgWarner Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
Companies Mentioned
- Continental AG
- Hanon SYSTEMS (Hahn & Co. Auto Holdings Co., Ltd.)
- Toyota Industries Corporation
- Mitsubishi Heavy Industries Ltd.
- Subros Ltd
- Mahle GmbH (Mahle Stiftung GmbH)
- Denso Corporation
- Sanden Corporation (Hisense Home Appliances Group Co., Ltd)
- Valeo SA
- BorgWarner Inc.
Methodology
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