Global Automotive Compressor Market Assessment, By Compressor Type [Variable Displacement, Fixed Displacement, CO2 Compressor, Electric Compressor], By Vehicle Type [Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles], By Sales Channel [Original Equipment Manufacturer, Aftermarket], By Region, Opportunities and Forecast, 2017-2031F

Global automotive compressor market is projected to witness a CAGR of 8.85% during the forecast period 2024-2031, growing from USD 13.95 billion in 2023 to USD 27.49 billion in 2031.

Automotive Compressor Market Size, Growth, Trends Forecast 2031

Global automotive compressor market is projected to witness a CAGR of 8.85% during the forecast period 2024-2031, growing from USD 13.95 billion in 2023 to USD 27.49 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to a&nbsp;growing number of automobile production, technological advancements in the automotive air compressors, rising requirements of consumers on vehicle comfort, and an&nbsp;increase in demand for electric vehicles globally. The demand for the global automotive compressor market is projected to&nbsp;grow owing to an&nbsp;upsurge in the purchasing power of individuals, stringent emission regulations, heightened environmental concerns, and growing usage of vehicle air conditioning systems. Additionally, with significant technological advancements, the introduction of automobiles became cost-effective, which has led to increased automobile sales and is fostering growth in the global automotive compressor. Furthermore, the increase in disposable income, growing buying power, and rising economic values across emerging countries are other driving factors supporting the demand for vehicles, further propelling the growth of the global automotive compressor market. Many countries have stringent emission regulations, including the&nbsp;Environmental Protection Agency in the United States or Euro 6 in Europe, which&nbsp;affect the design and operations of automotive compressors, particularly those used in air conditioning systems. Regulatory bodies across emerging countries impose safety standards that govern the materials and manufacturing procedures used for automotive compressors to prevent failures and leaks.
Key market participants focus on designs and manufacturing expertise to ensure that their customers always have access to state-of-the-art vehicle AC compressors. Companies in the market are planning to launch advanced compressors to expand their product portfolio and become a global leader in automotive compressors.
For instance, in May 2024, Sanden Manufacturing Europe S.A.S. (SME) Sanden Corporation announced the building of a new production line for next-generation electric compressors across the European area to address the accelerated electrification of the automotive industry.
<h2>Electrification of Compressors to Propel the Global Automotive Compressor Market Growth</h2>
The trend toward electrification is restructuring the market for automotive compressors. As electric vehicles (EVs) gain prevalence, manufacturers increasingly adopt electric compressors instead of traditional belt-driven ones. Electric compressors improve energy efficiency, control precise temperature, and reduce noise levels. This shift supports the overall sustainability goals of automakers, aligning with global efforts to reduce greenhouse gas emissions. Furthermore, advancements in battery technology allow electric compressors to operate more efficiently, extending vehicle range. As a result, established manufacturers and new entrants invest heavily in research and development to innovate electric compressor technologies. This trend is expected to accelerate as governments implement stricter emission regulations and consumer demand for cleaner vehicles rises.
For instance, in June 2024, WOLFBOX announced the launch of a new product line with its MegaFlow24 Pro air compressor to offer record-fast inflation for vehicles of all sizes coupled with motorcycles, balls, and bikes.
<h2>Advancement in Compressor Technology to Drive the Global Automotive Compressor Market Demand</h2>
Rapid advancements in compressor technology are reshaping the global automotive compressors market. Innovations such as variable displacement compressors, dual-scroll designs, and integrated thermal management systems enhance efficiency and performance. These technologies enable better climate control in vehicles while optimizing energy consumption. Also, key participants in the market are working efficiently on introducing smart compressor systems featured with the Internet of Things and AI to provide real-time performance, predictive maintenance capabilities, and durability, propelling the demand for the advanced automotive compressor market. Furthermore, advancements in materials and manufacturing processes are allowing for lighter and more durable compressors. As consumer expectations for comfort and efficiency rise, automakers increasingly adopt these advanced compressor solutions, driving market growth and leading to a more competitive landscape.
For instance, in June 2023, Garrett Motion Inc. announced that it would support BMW Group&rsquo;s commitment to develop zero-emission hydrogen fuel cell vehicles with an advanced electric fuel cell compressor introduced by Garrett&rsquo;s R7D team.
<h2>Government Rules and Regulations to Accelerate Market Growth</h2>
Strict emissions regulations, such as those set by the European Union and the U.S. Environmental Protection Agency, require automakers to reduce greenhouse gas emissions. As a result, there is a growing demand for more efficient automotive compressors that can support advanced climate control systems while minimizing emissions. Compliance with these standards often leads to adopting innovative technologies, such as electric compressors, which enhance energy efficiency. Governments are implementing fuel efficiency mandates to reduce energy consumption and dependence on fossil fuels. These mandates incentivize automakers to improve the efficiency of their vehicles, including the HVAC systems that rely on compressors. The demand for advanced, energy-efficient compressors will likely increase as manufacturers strive to meet these fuel efficiency targets.
For instance, in June 2024, the Corporate Average Fuel Economy (CAF&Eacute;) standards of the United States enforced regulations to enhance the average fuel efficiency of vehicles, indirectly supporting the requirement for efficient compressor systems in advanced hybrid and electric vehicles.
<h2>Passenger Cars to Dominate the Global Automotive Compressor Market Share</h2>
Passenger cars dominate the market share owing to rising investment by automakers in advanced compressor technologies, increased production of passenger cars, and surging shift of consumers towards luxury and comfort. An increase in passenger cars leads to a boost in the requirement for replacement parts and maintenance services, including compressors, introducing market growth opportunities for the global automotive compressor market in the forecast period. Also, stringent environmental regulations compel manufacturers to adopt advanced and efficient automotive compressors that reduce emissions, propelling the global automotive compressor market sales for passenger cars. In addition, across emerging countries, a significant increase in the&nbsp;middle class is purchasing more passenger cars, contributing to the overall requirement for automotive components, including automotive compressors. Furthermore, companies in the market are increasing their production capacity to address the growing global demand for electrified vehicles and diversification of compressor performance requirements.
For instance, in July 2022, Toyota announced the construction of&nbsp;a 10-million-unit production capacity for electric compressors to address the rising requirement for electrified vehicles and diversification of compressor performance requirements.
<h2>Asia-Pacific to Register the Largest Global Automotive Compressor Market Size</h2>
Asia-Pacific holds the largest market size in the global automotive compressor market owing to the&nbsp;rapidly expanding middle class in countries, including India and China, rising production of passenger cars, and rapid urbanization. Countries including South Korea, Japan, and China are projected to be major automotive manufacturing hubs, introducing millions of vehicles every year, which propels significant demand for automotive compressors in Asia-Pacific. The continuous urbanization trend in the Asia-Pacific automotive compressor market results in greater transportation requirements, further propelling passenger car sales&nbsp;and&nbsp;the demand for automotive components, including compressors. In addition, governments across the region are investing significantly in infrastructure, including transportation networks, contributing to&nbsp;the automotive sector and surge in&nbsp;ownership of vehicles, which further drives the growth of the Asia-Pacific automotive compressor market. Furthermore, companies in the market are expanding their manufacturing facilities in emerging countries, including India and China, to expand their production capacity.
For instance, in June 2023, Atlas Copco announced an expansion of compressor facilities in China to address the rising demand for advanced compressors from different industries, including automotive.
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Future Market Scenario (2024 &ndash; 2031F)
<ul>
<li>Increased production of passenger and commercial vehicles drive automotive compressors demand, particularly in emerging markets.</li>
<li>Consumers increasingly seek advanced HVAC systems in vehicles, leading to higher demand for automotive compressors.</li>
<li>Rising vehicles are driving the demand for replacement and aftermarket parts, including compressors, contributing to market growth.</li>
<li>Government investments in transportation infrastructure in developing regions facilitate vehicle ownership and boost compressor demand.</li>
</ul>
Report Scope
&ldquo;Automotive Compressor Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global automotive compressor market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 8.85% between 2024 and 2031
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Revenue Forecast in 2031
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USD 27.49 billion
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Segments Covered
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Compressor Type, Vehicle Type, Sales Channel
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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DENSO Corporation, Sanden Holdings Corporation, Valeo SA, Mahle GmbH, Hanon Systems Co., Ltd, BorgWarner Inc., Marelli Holdings Co., Ltd, Subros Limited, Rheinmetall Automotive AG, Keihin Corporation
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global automotive compressor market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Compressor Type
<ul>
<li>Variable Displacement</li>
<li>Fixed Displacement</li>
<li>CO2 Compressor</li>
<li>Electric Compressor</li>
</ul>
</li>
<li>By Vehicle Type
<ul>
<li>Passenger Cars</li>
<li>Light Commercial Vehicles</li>
<li>Medium and Heavy Commercial Vehicles</li>
</ul>
</li>
<li>By Sales Channel
<ul>
<li>Original Equipment Manufacturer</li>
<li>Aftermarket</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Companies in the market are investing in research and development to create advanced, efficient compressors that meet evolving consumer needs, such as electric and hybrid vehicle applications. Market players are expanding product lines to include a wider range of compressors, such as those designed for electric vehicles, commercial vehicles, and aftermarket applications. Also, they are focusing on eco-friendly products and practices to align with global sustainability trends, which can enhance brand reputation and attract environmentally conscious consumers. In addition, key participants in the market are adopting different market growth strategies, including joint ventures, mergers and acquisitions, new product launches, partnerships, and others to expand their market portfolio and market presence.
In September 2023, DENSO Corporation announced the launch of advanced commercial vehicle cooling system that features a small and efficient electric compressor, especially developed using in-vehicle technology.
Key Players Operating in Global Automotive Compressor Market are:
<ul>
<li>DENSO Corporation</li>
<li>Sanden Holdings Corporation</li>
<li>Valeo SA</li>
<li>Mahle GmbH</li>
<li>Hanon Systems Co., Ltd</li>
<li>BorgWarner Inc.</li>
<li>Marelli Holdings Co., Ltd</li>
<li>Subros Limited</li>
<li>Rheinmetall Automotive AG</li>
<li>Keihin Corporation</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul>
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Automotive Compressor Market Assessment, Opportunities and Forecast, 2017-2031F

The global automotive compressor market is expected to experience growth owing to an increase in disposable income, growing demand for passenger vehicles, stringent government regulations concerning carbon emissions, and significant advancement in compressor technology.

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