The Latin America, Middle East and Africa Automotive AC Compressor Market would witness market growth of 5.9% CAGR during the forecast period (2022-2028).
The automotive AC compressor market is expanding due to favorable factors like advancements in lubricants for rotary screws and reciprocating compressors. In the coming years, the demand for reciprocating compressors is anticipated to grow more than any other type of compressor. Additionally, e-compressors are quickly becoming a new phenomenon. Long-distance electric travel is made possible by these compressors in all-electric and hybrid automobiles.
It is projected that in the upcoming years, automotive consumption in emerging economies will significantly expand as a result of urbanization and increased industrial activity. Manufacturers are progressively building manufacturing facilities in emerging nations as a result of the rising demand for automobiles. In addition, automobile production has expanded in emerging countries as a result of supportive government policies, higher GDP, and rising consumer spending.
Brazil's auto sales have improved in the Latin American region and are at their best point in five years. The nation’s automotive industry grew more quickly than any other key sector of the economy, providing a much-needed support system for automakers. The AC compressors demand has also grown as a result of the renewed interest in this region. Similarly, South Africa also has a major automobile manufacturing industry. Production of automotive components, the country's largest manufacturing sector, continued to play a significant role in South Africa's manufacturing and industrialization process. Due to the region's burgeoning automotive industry, the market for automotive AC compressors will grow in the coming years.
The Brazil market dominated the LAMEA Automotive AC Compressor Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $186.8 million by 2028. The Argentina market is experiencing a CAGR of 6.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 5.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive AC Compressor Market is Projected to reach USD 10.1 Billion by 2028, at a CAGR of 3.5%
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.
By Vehicle Type
By Compressor Type
By Drive Type
By Sales Channel
By Country
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