Automotive AC Compressor Market in Europe Future Challenges and Industry Growth Outlook by 2020-2026

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Europe Automotive AC Compressor Market 2020 -
Industry Statistics Analysis by 2026 Graphical
Research
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Europe Automotive AC Compressor Market Size is to
witness steady growth by 2026. The rising sales
of electric vehicles in Europe will drive the
regional automotive AC compressor market growth
in future. Stringent government regulations
regarding CO2 emissions will increase the
penetration of electric vehicles in the market.
The European Union sets targets, allowing 95
grams per km of CO2 emissions for passenger cars.
Additionally, it specified that 95 of the total
fleet must meet these guidelines in 2020 and 100
by 2021. In 2019, Europe invested approximately
USD 71 billion to produce electric vehicles and
batteries. Moreover, the government is investing
heavily to develop charging infrastructures.
Environment-conscious consumers are willing to
pay high prices for electric vehicles. Many
local governments are offering driving and
parking benefits for electric vehicle users.
Electric vehicle owners have the benefits of
paying less toll parking fees in Paris and
given preferential parking permits in Amsterdam.
A few governments in Europe including Norway, the
UK, France, the Netherlands, Denmark, etc., are
offering subsidies and incentives to encourage
customers to opt for electric mobility. Many
vehicle manufacturers are rapidly launching new
models in the wake of soaring demand. These
aforementioned trends will potentially boost
electric vehicle sales in the next few years
thereby assisting the growth of Europe automotive
AC compressor market.   The Europe automotive AC
compressor market is segmented on the basis of
vehicle, type, drive and sales channel. Light
commercial vehicles will grow at a 3.3 CAGR
between 2020 and 2026. The rising prevalence of
e-commerce and associated retail operations will
accelerate the transportation of goods to ensure
timely delivery. This will generate huge demand
for light commercial vehicles in future and
augment the sales of automotive AC compressors
over the next few years.
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Fixed displacement compressors will capture
around 35 share by the end of the forecast
period. These compressors have gained popularity
due to their reliable nature and efficient
operational characteristics. Additionally, these
compressors have compact size and low weight. The
belt driven segment will dominate the market and
account for more than 95 share by 2026. Majority
of present vehicle air conditioning systems
include belt-driven clutched compressor, which
uses engine power to drive refrigerant through a
closed-cycle system of valves and heat
exchangers. The OEM segment will grow at a CAGR
more than 3 by 2026, and the segments growth
will be due to excellent product quality,
warranty benefits, and superior service
life.   Germany will clutch over 20 share in the
Europe automotive AC compressor market by 2026.
The countrys automotive sector is the largest
and most stable market in Europe. Recently, the
German government offered subsidies to boost
vehicle sales and bring the nations automotive
sector back on track, which was severely hampered
due to trade war and coronavirus pandemic. Such
trends will bolster the growth of Europe
automotive AC compressor market over the next few
years.    The key manufacturers in Europe
automotive AC compressor market are Sanden
Corporation, Valeo, Toyota Industries, Nissens,
Denso Corporation, MAHLE, and Rheinmetall
Automotive. These manufacturers have adopted
various strategies, product differentiation
development, production capacity expansion,
diversification of sales distribution network,
etc., to gain a competitive advantage.
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