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The Automotive AC Compressor Market is estimated to grow at an average CAGR of 3.9% over the forecast period. The automotive AC compressor market size is projected to reach US$ 9,342.1 Million in 2022, and is estimated to reach US$ 13,696.2 Million by 2032.

The rise in car ownership is anticipated to be fueled by rising purchasing power and rising economic values in emerging markets, which will drive the market share for automotive AC compressors. However, it is projected that high startup and installation costs, in addition to maintenance issues, will restrict the sales of vehicle AC compressors. On the other hand, the size of the automotive AC compressor market is anticipated to increase due to technical developments and the launch of new products.

The increasing use of air conditioning in passenger vehicles in developing countries are likely to drive demand for automotive AC compressors during the forecast period. Furthermore, as environmental regulations tighten, vehicle makers are constantly discovering new ways to increase the fuel efficiency of compressors.

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The expanding relevance of cars, such as electric and hybrid electric vehicles, is also speeding the number of new electric vehicle models in Europe, North America, Japan, and China, hence increasing sales of AC compressors.

In recent years, global warming has increased atmospheric temperature, boosting consumer demand for air conditioning in automobiles to create a more comfortable vehicle interior climate. Furthermore, increased attempts by vehicle makers to incorporate sophisticated controls in autos, as well as increased R&D spending, is anticipated to drive the automotive AC compressor market growth.

Key Takeaways from Automotive AC Compressor Market

By 2032, the automotive AC compressor market in the passenger car sector is expected to be worth almost USD 9 billion. Passenger cars segment is expected to grow at the fastest rate, owing to increased car sales in nations such as China and India. The proportion of passenger cars equipped with air conditioning is expected to surge.
By 2032, the OEM segment is anticipated to control more than 95% of the automotive AC compressor market.
Developing economies are spending heavily in the manufacturing sector in order to build strong export potential, which is leading to increasing car output.
Due to its lower expensive than its competitors, the fixed displacement compressor category is expected to grow significantly across emerging nations.
With a high revenue share, Asia Pacific dominates the vehicle AC compressor industry. This is due to rising automobile sales in emerging economies, particularly China and India.
The APAC automotive AC compressor sector is likely to advance due to improved infrastructure and increased disposable income of the middle-class population.
Europe has the second largest share of the automotive AC compressor market, with a revenue of 22%. This is due to the region is headquarters for major automotive OEMs.
By 2032, North America is anticipated to account for more than 15% of the automotive AC compressor market. The increased use of automotive AC compressors in this region is linked to a rise in the number of automobiles on the road as well as individual purchasing power in the United States and Canada.
“The cost of air conditioning systems has risen due to higher technological advancements in terms of performance and efficiency. During the projected period, this is expected to promote the growth of the automotive AC compressor market.”– FMI Analyst

Competition Landscape in the Automotive AC Compressor Market

The competition among automobile AC compressor key players is severe. As a result, automotive AC compressor market share is predicted to rise due to the industry's significant technical advancements. Furthermore, the leading players are expanding their spending in research and development (R&D) efforts in order to provide clients with more efficient and cost-effective goods.

The key players in the automotive AC compressor market are:

Yantai Shougang TD Automotive Compressor Co. Ltd., HELLA KGaA Hueck & Co., Zhajiang Santian A/C compressor Co. Ltd., Toyota Industries, TD Automotive Compressor, Gardner Denver, Delphi PLC., SANDEN USA, Denso Auto Corporation, Michigan Automotive Compressor Inc., General Auto, OMEGA Environmental Technologies, Valeo S.A., Calsonic Kansei Corporation, Mitsubishi Heavy Industries, Highly Marelli Holdings Co. Ltd., Dunair Smiths Manufacturing PTY Ltd., Behr Hella Service GmbH, Keihin Corporation, Continental AG, Robert Bosch GmbH, SANTIAN A/C COMPRESSOR CO. LTD., etc.

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Recent Developments in the Automotive AC Compressor Market:

MAHLE GmbH acquired the air conditioning business from Keihin Corporation in Japan in February 2021, and the four US production facilities and one development centre are currently being incorporated into the MAHLE Group.
Marelli Corporation struck an agreement with Shanghai Highly (Group) Co. in September 2020. Highly Marelli Holdings Co., Ltd., to form a joint venture. Ltd., which is expected to focus especially on the electrification of compressors, HVAC equipment, electric-driven compressor (EDC) systems, and other components.
Key Segments Profiled in the Automotive AC Compressor Market Survey

By Configuration:

Scroll Type Compressor
Rotary Type Compressor
By Vehicle Type:

Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle

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Food Authenticity Testing Services Market 2023 Growth Drivers, Regional Outlook, Competitive Strategies and Forecast up to 2033

In 2023, the US$ 5893 million for the food authenticity testing service market is estimated to reach a revised size of US$ 10112.8 million by 2033. This market is expected to expand at a CAGR of 6% during the analysis period.
Consumers have become increasingly skeptical about the authenticity of food products designed to meet specific needs, such as vegan, free-form, and organic. This is due to intentional ingredient substitution, misleading consumers with false claims, and disruptive labeling.
To differentiate their products from conventional offerings, food manufacturers have adopted food authentication techniques to capture significant market share. Consumers are increasingly concerned about food safety and clean labels, so adoption may be on the rise.
The increasing incidence of fraud, false labeling, certification, and adulteration in food products is one factor driving the market growth. Additionally, consumers are becoming more knowledgeable about food quality, increasing market growth.
“The epidemic of economically motivated infestation (EMA) to overcome competition has forced governments to impose strict regulations on food inspection and authenticity regulations, pushing markets toward a multi-billion-dollar valuation.” – says a lead analyst at Future Market Insights.
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Key Takeaways from Market Study
• The food authenticity testing service market is expected to grow at a CAGR of 6% over the forecast period.
• It is estimated that the food authenticity testing service market in North America will remain strong during the forecast period.
• Due to its large population, Asia Pacific is expected to be the fastest-growing region for food authenticity testing services
• Testing meat speciation authenticity is bolstered by a high incidence of meat consumption
• The food authenticity testing services market in China is expected to witness significant growth at a CAGR of around 4.4%.
Competitive Landscape:
The global food authenticity testing service market is dominated by a small number of players aiming to concentrate their presence in emerging markets. They launch products, introduce innovations, acquire strategic companies, and establish laboratories and research facilities in areas that are not developed. By offering innovative products, market players can maintain supply and demand, thus assisting the growth of the overall market.
Several prominent companies dominate this market, including ALS Ltd, EMSL Analytical, Inc., Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA, Romer Labs, others.
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• With the acquisition of Vanguard Sciences Inc. in January 2018, SGS expanded its global network of agriculture and food laboratories by integrating the company’s two food laboratories. Agricultural and food testing is provided by two laboratories, including product testing and research (including testing of processes and products).
• SGS announces the opening of its new food testing laboratory in Papua New Guinea. In addition to food safety, quality, and sustainability, SGS offers a comprehensive range of services.
Food Authenticity Testing Services Market Segmentation by Category
By Food Tested:
• Meat & Meat Products
• Dairy & Dairy Products
• Processed Foods
• Other Food Tested
By Target Testing:
• Meat Speciation
• Country of Origin & Ageing
• Adulteration
• False Labelling
By Technology:
• PCR-Based
• Liquid Chromatography-Mass Spectrometry (LC-MS)
• Isotope
• Immunoassay Based/ELISA
• Other Technologies
By Region:
• North America
• Latin America
• Europe
• The Middle East and Africa
• East Asia
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The global automotive garage equipment market is estimated to be valued at ~US$ 32.9 Billion by 2029, increasing at a CAGR of ~ 4.3% during the projected period of 2022 and 2029. This growth is significantly driven by stringent emission and other regulations of vehicle diagnostics equipment in the automotive industry.

High Demand for Garage Equipment from Independent Garages Propelling the Market Growth.

The global automotive garage equipment market has been segmented based on vehicle type, equipment type, garage type and regions, such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Middle East & Africa, and Japan.

Shifting consumer preference towards independent garages in comparison to franchise garage is one the major factors driving the growth of garage equipment’s in the market. Independent garages offer similar services and capabilities as franchise garages along with economical price bands as OEMs. According to primary surveys about ~80% of the consumers in Asia prefer independent garages over OEM dealerships due to the maneuverability, ease, and flexibility offered by them at a reduced cost and time. As a result, the growing demand for independent repair shops is in turn expected to drive the need for garage equipment
Majority of OEMs are planning strategic initiatives to expand dealerships and after sales service capabilities in rural areas. The strategy lies in establishing repair & maintenance dealerships and for franchised garage operators to expand their service presence and portfolio. Vehicle manufacturers have now shifted their focus towards the rural market as it seems to be significantly more opportunistic. This in turn, will drive automotive garage equipment during the forecast period.
Light vehicles garages are projected to emerge as the major contributor to the demand for garage equipment, reason being demand for new and advanced garage equipment products. This will in turn create significant demand for advanced garage equipment, such as vehicle diagnostics & testing equipment, wheel & tire alignment equipment, etc.
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The report investigates the automotive garage equipment market and provides critical insights for the forecast period of 2022 – 2029. As per the key findings of the report, the global automotive garage equipment market is anticipated to experience substantial growth over the forecast period due to increase in the demand for replacement and maintenance of automotive components.

FMI’s study opines that growing popularity of independent garages among consumers is one of the key trends that is shaping the global automotive garage equipment market. However, the onset of innovative technologies and R&F activities is expected to enhance the functionalities and capabilities of modern automotive garage equipment.

Significant Growth Opportunities in the APEJ Automotive Garage Equipment Market

Asia Pacific Excluding Japan is projected to show heavy upsurge in the automotive garage equipment market owing to increasing penetration of new franchises and up gradation in independent repair shops and garages particularly in India and china. The region accounts for largest two wheeler fleet and higher density of light and heavy vehicles. China is projected to witness heavy growth owing to increase in number of light and two wheelers and India is projected to hold significant share in the automotive garage equipment market owing to growth in independent garages and repair shops. Propensity of these countries towards technological advancements in the garage equipment’s is creating an opportunity for the market during the forecast period.

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Automotive Garage Equipment Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global automotive garage equipment market. Few examples of key players in the market are:

Symach Srl, Nussbaum Automotive Solutions, SAMVIT GARAGE EQUIPMENTS, MAHA Maschinenbau Haldenwang Gmbh & Co. KG, Snap-on Incorporated, Robert Bosch GmbH, Continental AG, and Forward Lift Company (Dover Corporation), and Standard Tools and Equipment Co., among others.


Key Segment

Vehicle

2 Wheelers
Light Vehicles
Heavy Vehicles
Equipment

Lifting Equipment
Body Shop Equipment
Wheel & Tire Alignment
Vehicle Diagnostics & Testing
Washing Equipment
Other Tools