The North America Automotive AC Compressor Market would 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 AC systems in automobiles offers enormous opportunities in developing economies, and this trend is projected to continue for the next few years. The market is expanding due to an increase in vehicle production, a larger fleet on the road, and increased installation of amenities and comfort 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 of vehicles 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 would 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.
Free Valuable Insights: The Global Automotive AC Compressor Market is Predict to reach $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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