The automotive heating, ventilation, and air conditioning (HVAC) compressor market share is expected to increase by 33.23 million units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.49%. This automotive heating, ventilation, and air conditioning (HVAC) compressor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The automotive heating, ventilation, and air conditioning (HVAC) compressor market report also offers information on several market vendors, including DENSO Corp., ESTRA Automotive Systems Co. Ltd., Hanon Systems, HELLA GmbH and Co. KGaA, MAHLE GmbH, Marelli Holdings Co. Ltd., Mitsubishi Heavy Industries Ltd., Subros Ltd., Toyota Industries Corp., and Valeo SA among others. Furthermore, this report extensively covers automotive heating, ventilation, and air conditioning (HVAC) compressor market segmentation by application (passenger cars, LCVs, and MCVs and HCVs) and geography (APAC, Europe, North America, South America, and MEA).

What will the Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Size be During the Forecast Period?

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Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market: Key Drivers, Trends, and Challenges

The increasing adoption of automotive hvac electric compressors is notably driving the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth, although factors such as vehicle recalls due to potential hvac compressor failure may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive heating, ventilation, and air conditioning (HVAC) compressor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Driver

The increasing adoption of automotive hvac electric compressors is notably driving the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth. An automotive HVAC compressor is generally powered by a drive belt which increases the engine load resulting in increased fuel consumption and exhaust gas emissions. To overcome this drawback, automotive HVAC compressor manufacturers developed compressors that are powered independently by a motor without the need for an automotive engine to be switched on. The built-in motor in the automotive HVAC electric compressor powers it without the need for an engine to be switched on. Therefore, automotive HVAC electric compressors use electric heaters or heat pumps, which are powered by vehicle batteries to generate heat. Moreover, HVAC electric compressors are produced in lower volumes than belt-driven HVAC compressors. Therefore, the increased production cost is pushed to automotive HVAC manufacturers and vehicle manufacturers, resulting in increased revenue for automotive HVAC compressor manufacturers. Therefore, the increasing adoption of automotive HVAC electric compressors is expected to drive the global automotive HVAC compressor market in terms of revenue during the forecast period.

Key Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Trend 

Increasing demand for variable displacement compressors is the key market trend driving the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth. Automotive HVAC systems use different types of compressors based on the design and type of automotive HVAC systems used in the vehicles. Based on the displacement type, automotive HVAC compressors can be classified into the following: Fixed displacement compressors and Variable displacement compressors. In fixed displacement compressor, the piston constantly moves without varying the pumping capacity. This type of compressor is equipped with a clutch that helps to turn on and off the automotive HVAC system. Based on the way the displacement control valve is actuated, the variable displacement compressor can be categorized into two types, namely, internally controlled variable displacement compressors and externally controlled variable displacement compressors. These types of compressors are used for automatic climate control in vehicles and are witnessing high adoption across all the segments in the global automotive market.

Key Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Challenge

The vehicle recalls due to potential hvac compressor failure is the major challenge impeding the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth. Defective products or potential failures of systems in vehicles result in product recall by vehicle manufacturers. Earlier, vehicle manufacturers had to bear the complete cost of a product recall. However, the improvement in vendor relationships and collaborative work with suppliers across the upstream of the value chain have encouraged suppliers and manufacturers to share the recall cost. Although this has reduced the cost burden on vehicle manufacturers, tier-1 suppliers, and other stakeholders in the value chain, it is still adding a certain cost for these stakeholders, thereby leading to a reduced profit margin. Therefore, vehicle recalls due to defective products or potential system failures constitute a challenge for all the stakeholders related to the products.

This automotive heating, ventilation, and air conditioning (HVAC) compressor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive heating, ventilation, and air conditioning (HVAC) compressor market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive heating, ventilation, and air conditioning (HVAC) compressor market during the forecast period.

Who are the Major Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• DENSO Corp.
• ESTRA Automotive Systems Co. Ltd.
• Hanon Systems
• HELLA GmbH and Co. KGaA
• MAHLE GmbH
• Marelli Holdings Co. Ltd.
• Mitsubishi Heavy Industries Ltd.
• Subros Ltd.
• Toyota Industries Corp.
• Valeo SA

This statistical study of the automotive heating, ventilation, and air conditioning (HVAC) compressor market encompasses successful business strategies deployed by the key vendors. The automotive heating, ventilation, and air conditioning (HVAC) compressor market is fragmented and the vendors are deploying growth strategies such as investing in R&D to introduce better products into the market and expand their customer base to compete in the market.

Product Insights and News

• DENSO Corp. - The company offers various types of automotive HVAC compressors for passenger cars.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive heating, ventilation, and air conditioning (HVAC) compressor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive heating, ventilation, and air conditioning (HVAC) compressor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market?

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55% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive heating, ventilation, and air conditioning (HVAC) compressor market in APAC. Market growth in this region will be faster than the growth of the European and Middle East African markets.

The increasing penetration rate of HVAC systems in the commercial vehicles segment will facilitate the automotive heating, ventilation, and air conditioning (HVAC) compressor market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, industrial activities in this region were affected due to COVID-19-related concerns. Stringent lockdowns and social distancing regulations compelled many business owners to shut down their facilities temporarily. Production of vehicles was also affected throughout the year. This negatively affected the demand for automotive HAVC compressors in the region. However, as the automotive supply chains regain their strength in 2021, the recovery of these industrial sectors in APAC will pick up the pace. Capital spending is expected to grow, which will drive the demand for commercial vehicles. This will positively impact the regional market in focus during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market?

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The automotive heating, ventilation, and air conditioning (HVAC) compressor market share growth by the passenger cars segment will be significant during the forecast period. The growth of the global automotive HVAC compressor market by passenger cars is based on the increase in the production of passenger cars. The sale of electric powertrain-based passenger cars has witnessed growth and is expected to grow significantly over the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive heating, ventilation, and air conditioning (HVAC) compressor market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Automotive Heating, Ventilation, and Air Conditioning (HVAC) Compressor Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive automotive heating, ventilation, and air conditioning (HVAC) compressor market growth during the next five years
• Precise estimation of the automotive heating, ventilation, and air conditioning (HVAC) compressor market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive heating, ventilation, and air conditioning (HVAC) compressor industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive heating, ventilation, and air conditioning (HVAC) compressor market vendors

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