North America Air Conditioning Compressor Parts Market Size and Forecasts (2020-2030)
North America Air Conditioning Compressor Parts Market Size and Forecasts (2020 – 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Compressor Parts (Crankshaft, Cylinder, Motor, Refrigerant Pipe, Rolling Piston, Stator, and Others), by AC System Size (Up To 2 Tons, Above 2 Tons–Up To 4 Tons, and Above 4 Tons–Up To 6 Tons), and by Application (Aftermarket and OEM)
$2,485 – $3,885
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
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Description
The US is experiencing increasingly hot summers, which is driving up demand for air conditioning. Additionally, the growing population and increasing urbanization are leading to more people shifting to urban areas where air conditioning is essential. Therefore, many companies are launching air conditioning systems. For instance, in March 2023, Daikin North America LLC launched the VRV. The Daikin VRV system is a commercial multi-split air conditioner that uses variable refrigerant flow control designed by Daikin to give customers the flexibility to maintain individual zone management in each room and floor of a building. This increases the demand for air conditioning compressors and their parts. Thus, the factors mentioned above are expected to positively influence the air conditioning compressor part market in the US.
The scroll compressor manufacturers in North America strive to source components from countries under the North American Free Trade Agreement (NAFTA). However, Asian countries such as China and India have a significant advantage in manufacturing and supplying such parts. Hence, compressor manufacturers in the US and Canada prefer to source the majority of the parts from Asian nations, predominantly China. However, Mexico is also a significant supplier of such parts and finished compressors.
In most cases, the process of importing from foreign manufacturers can be complicated due to complex paperwork and concerns with quality. Additionally, certain set guidelines and extra importation duties are applicable. Moreover, the trade war between the US and China has increased the complexity of sourcing parts for scroll compressor manufacturers in the US. Thus, Mexico’s significance as a compressor parts manufacturer has gained prominence in the past few years.
On the other hand, imported air compressor parts are mostly of superior quality owing to adherence to stringent guidelines required for supplying to the US. Additionally, foreign companies mostly produce the components in bulk since they cater worldwide, allowing them to sell at reduced prices. Other trade discounts may also make importing scroll compressor parts from other countries a better option.
To hedge against supply uncertainties, most scroll compressor manufacturers tend to import the parts in bulk. However, the manufacturers refrain from entering into long purchase contracts since the number of suppliers is relatively high, especially from China. Entering into long contracts can result in a business loss since, due to high competitiveness, competing component suppliers often supply the parts at a relatively low-profit margin. Additionally, the switching cost of suppliers is quite low, and thus, long supply contracts are not preferred by scroll compressor manufacturers.
It is noteworthy that all component suppliers need to adhere to the stringent requirements of the compressor manufacturer. Hence, despite low switching costs, manufacturers often prefer to rely on suppliers they work with on a regular basis or have been associated with previously. In such instances, despite higher import duty, quality is given prominence, and hence, the price of the final product to compensate for the higher manufacturing cost. End users of scroll compressors are often brand-sensitive in the US and, hence, are agreeable to pay slightly more for procuring a branded compressor. Thus, the higher import tariff is often passed on to the end user to some extent without compromising the quality of the finished scroll compressor..
Carrier Global Corp, Copeland LP, Honeywell International Inc., Mitsubishi Electric Corp, Mueller Streamline Co., e+a Elektromaschinen und Antriebse AG, Huayi Compressor Barcelona SL, Mayekawa Manufacturing Co Ltd., Parker Hannifin Corp are among the players operating in the Air conditioning compressor parts market. Several other major companies have been analyzed during this research study to get a holistic view of the Air conditioning compressor parts market ecosystem.
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According to our latest study “North America Air Conditioning Compressor Parts Market Size and Forecast to 2030 –Regional Share, Trends, and Growth Opportunity Analysis – by Compressor Parts, AC System Size, and Application,” The air conditioning compressor parts market size was valued at US$ 2.45 billion in 2022 and is expected to reach US$ 3.61 billion by 2030; it is estimated to record a CAGR of 4.9% from 2022 to 2030.
Smart compressors are equipped with sensors and microcontrollers that allow them to monitor and optimize their performance. This results in improved energy efficiency, reduced wear and tear, and longer lifespans. Smart air conditioning compressors can help to improve energy efficiency. This is because they can adjust their speed and operation in real-time to meet the cooling needs of the home rather than running at full speed all the time. They can be controlled remotely using a smartphone app or other device. This makes it easy to turn on and off the air conditioning, adjust the temperature, and set schedules. It also helps to improve comfort by maintaining a consistent temperature throughout the home. They can also be used to create customized cooling zones so that different rooms in the home can be cooled to different temperatures. In addition, the increasing popularity of home automation is also driving the adoption of smart air conditioning compressors. Smart air conditioners can be integrated with other smart home devices, such as thermostats, motion sensors, and smart speakers. This allows users to create automated rules that control the air conditioning based on their preferences and needs. Therefore, the adoption of smart air conditioning compressors is increasing rapidly, driven by energy efficiency, convenience, comfort, and cost savings. As smart air conditioning compressors become more affordable and widely available, more and more homeowners are expected to adopt this technology. This will fuel the North America air conditioning compressor parts market growth.
The North America Air Conditioning Compressor Parts market in Canada was valued at US$ XX million in 2022 and is projected to reach US$ XX million by 2030; it is expected to grow at a CAGR of XX% during the forecast period. Canada is one of the fastest-growing countries in the North America air conditioning compressor parts market. Urbanization and infrastructure development have surged building activity, including residential and commercial developments in Canada. When temperatures rise due to climate change, air conditioning systems become a vital component of both residential and commercial buildings in Canada. This increases the demand for air conditioning compressors and their parts. The Canadian government’s commitment to environmental sustainability and energy efficiency has encouraged the use of eco-friendly and energy-efficient air conditioning (AC) systems. As a result of this, the air conditioning compressor part market in Canada is expanding, in line with global trends. Thus, both international and domestic companies are looking actively at opportunities in air conditioning compressor parts market growth.
North America Air Conditioning Compressor Parts Segmental Overview
By compressor parts the North America air conditioning compressor parts market is divided into the crankshaft, cylinder, motor, refrigerant pipe, rolling pistons, stator, and others. The North America air conditioning compressor parts market by AC System Size is segmented into Up To 2 Tons, Above 2 Tons–Up To 4 Tons, and Above 4 Tons–Up To 6 Tons. The North America air conditioning compressor parts market by application is bifurcated into aftermarket and OEM. Based on countries, the North America Air conditioning compressor parts market is divided into the US, Canada, and Mexico.
North America Air Conditioning Compressor Parts Market Competitive Landscape and Key Developments
Carrier Global Corp, Copeland LP, Honeywell International Inc., Mitsubishi Electric Corp, Mueller Streamline Co., e+a Elektromaschinen und Antriebse AG, Huayi Compressor Barcelona SL, Mayekawa Manufacturing Co Ltd., and Parker Hannifin Corp are among the players operating in the Air conditioning compressor parts market. Several other major companies have also been analyzed during this air conditioning compressor parts market research study to get a holistic view of the North America air conditioning compressor parts market ecosystem.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in North America air conditioning compressor parts market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the North America air conditioning compressor parts market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Air Conditioning Compressor Parts Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Supplier:
4.3.2 Part Manufacturer:
4.3.3 End User:
4.4 Manufacturing Cost Analysis
4.4.1 Manufacturing Cost Analysis Parameters
4.4.2 List of Suppliers of Compressor Parts
4.5 Sourcing Strategy
5. Air Conditioning Compressor Parts Market – Key Application Dynamics
5.1 Drivers
5.1.1 Increasing Adoption of Smart Compressors
5.1.2 Increasing Demand for Energy-Efficient Compressors
5.2 Restraints
5.2.1 High Energy Consumption and the Popularity of Alternative Cooling Systems
5.3 Opportunity
5.3.1 Rising Global Average Temperature
5.4 Future Trend
5.4.1 Increasing Adoption of Smart Compressors
5.5 Impact of Drivers and Restraints:
6. Air Conditioning Compressor Parts Market Analysis – Compressor Parts
6.1 Crankshaft
6.1.1 Overview
6.2 Cylinder
6.2.1 Overview
6.3 Motor
6.3.1 Overview
6.4 Refrigerant Pipe
6.4.1 Overview
6.5 Rolling Piston
6.5.1 Overview
6.6 Stator
6.6.1 Overview
6.7 Others
6.7.1 Overview
7. Air Conditioning Compressor Parts Market Analysis – AC System Size
7.1 Up To 2 Tons
7.1.1 Overview
7.2 Above 2 Tons – Up To 4 Tons
7.2.1 Overview
7.3 Above 4 Tons – Up To 6 Tons
7.3.1 Overview
8. Air Conditioning Compressor Parts Market Analysis – Application
8.1 Aftermarket
8.1.1 Overview
8.2 OEM
8.2.1 Overview
9. Air Conditioning Compressor Parts Market – Geographical Analysis
9.1 North America
9.1.1 North America Air Conditioning Compressor Parts Market Overview
9.1.2 North America Air Conditioning Compressor Parts Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.3 North America Air Conditioning Compressor Parts Market Breakdown by Compressor Parts
9.1.3.1 North America Air Conditioning Compressor Parts Market Revenue and Forecasts and Analysis – By Compressor Parts
9.1.4 North America Air Conditioning Compressor Parts Market Breakdown by AC System Size
9.1.4.1 North America Air Conditioning Compressor Parts Market Revenue and Forecasts and Analysis – By AC System Size
9.1.5 North America Air Conditioning Compressor Parts Market Breakdown by Application
9.1.5.1 North America Air Conditioning Compressor Parts Market Revenue and Forecasts and Analysis – By Application
9.1.6 North America Air Conditioning Compressor Parts Market Breakdown by Country
9.1.6.1 US Air Conditioning Compressor Parts Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.6.1.1 US Air Conditioning Compressor Parts Market Breakdown by Compressor Parts
9.1.6.1.2 US Air Conditioning Compressor Parts Market Breakdown by AC System Size
9.1.6.1.3 US Air Conditioning Compressor Parts Market Breakdown by Application
9.1.6.2 Canada Air Conditioning Compressor Parts Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.6.2.1 Canada Air Conditioning Compressor Parts Market Breakdown by Compressor Parts
9.1.6.2.2 Canada Air Conditioning Compressor Parts Market Breakdown by AC System Size
9.1.6.2.3 Canada Air Conditioning Compressor Parts Market Breakdown by Application
9.1.6.3 Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.6.3.1 Mexico Air Conditioning Compressor Parts Market Breakdown by Compressor Parts
9.1.6.3.2 Mexico Air Conditioning Compressor Parts Market Breakdown by AC System Size
9.1.6.3.3 Mexico Air Conditioning Compressor Parts Market Breakdown by Application
10. Air Conditioning Compressor Parts Market – Impact of COVID-19 Pandemic
10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration
12. Company Profiles
12.1 Carrier Global Corp
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Copeland LP
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Honeywell International Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Mitsubishi Electric Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Mueller Streamline Co
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 e+a Elektromaschinen und Antriebse AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Huayi Compressor Barcelona SL
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Mayekawa Manufacturing Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Parker Hannifin Corp
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Libra Engineers Pvt Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About Research Team
13.2 Word Index
LIST OF TABLES
Table 1. Air Conditioning Compressor Parts Market Segmentation
Table 2. Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Compressor Parts
Table 3. North America Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Compressor Parts
Table 4. North America Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By AC System Size
Table 5. North America Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 6. US Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Compressor Parts
Table 7. US Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By AC System Size
Table 8. US Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 9. Canada Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Compressor Parts
Table 10. Canada Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By AC System Size
Table 11. Canada Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 12. Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Compressor Parts
Table 13. Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By AC System Size
Table 14. Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 15. Company Positioning & Concentration
Table 16. List of Abbreviation
LIST OF FIGURES
Figure 1. Air Conditioning Compressor Parts Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Air Conditioning Compressor Parts Market
Figure 4. Air Conditioning Compressor Parts Market – Key Application Dynamics
Figure 5. Impact Analysis of Drivers And Restraints
Figure 6. Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 7. Air Conditioning Compressor Parts Market Breakdown by Compressor Parts (2022 and 2030)
Figure 8. Air Conditioning Compressor Parts market Breakdown by AC System Size, 2022 and 2030 (%)
Figure 9. Air Conditioning Compressor Parts market Breakdown by Application, 2022 and 2030 (%)
Figure 10. Air Conditioning Compressor Parts market Breakdown by Country, 2022 and 2030 (%)
Figure 11. US Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 12. Canada Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 13. Mexico Air Conditioning Compressor Parts Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 14. Heat Map Analysis By Key Players
The List of Companies – North America Air Conditioning Compressor Parts Market
o Carrier Global Corp
o Copeland LP
o Honeywell International Inc
o Mitsubishi Electric Corp
o Mueller Streamline Co
o e+a Elektromaschinen und Antriebse AG
o Huayi Compressor Barcelona SL
o Mayekawa Manufacturing Co Ltd
o Parker Hannifin Corp
o Libra Engineers Pvt Ltd
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