Persistence Market Research has announced the addition of the “Automotive Air Compressor Accessories Market: Global Industry Analysis and Forecast 2016 - 2026" report to their offering.
New York, NY -- (SBWIRE) -- 02/12/2018 -- Air compressor is a mechanical device which is used for pressurizing the air by compression, the air compressor converts the kinetic and potential energy into pneumatic energy. Air compressors are widely used in the automotive industry and finds application at each stage of vehicle assembly. For the safe working of an air compressor some accessories are mounted on air compressor namely pressure regulators, pressure gauges, air filters, pressure relief valves etc.
These accessories help in monitoring and regulation of the discharge pressure. The global air compressor market is anticipated to witness a robust a growth in the near future, which in turn will have a positive impact on the global automotive air compressor accessories market worldwide.
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Being an essential equipment in the automotive industry, the increasing consumption of air compressors in the automotive industry is driving the automotive air compressor accessories demand and thus, growth of automotive air compressor accessories market. Apart from the automotive industry, the automotive service stations also use air compressors for different type of automotive maintenance works, which can also be considered as a plus side for the global automotive air compressor accessories market.
In addition, factors such as industrial work safety standards, which defines the safety standards for operating air compressor along with the growth in automotive industry can be considered as growth factors for global automotive air compressor accessories market. However, mounting of accessories is difficult in portable air compressors which hampers growth of global automotive air compressor accessories market.
Based on regions, global automotive air compressor accessories market is segmented into seven key regions -- North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. Among the aforementioned regions, APEJ dominates the automotive air compressor accessories market, which is supported by the growth in the market for air compressors in the region.
Rapid industrialization in the countries like China, India and South Korea has resulted in lucrative demand for air compressors in the countries, which in turn is increasing the consumption of automotive air compressor accessories market in the region. APEJ region has witnessed a robust growth rate in the automotive industry and is anticipated to be dominating during the forecast period, thus having a positive impact on the market for automotive air compressor in the region.
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Western Europe is the second largest market in the global automotive air compressor accessories market, which is followed by Japan and North America. Latin America market for automotive air compressor accessories is also expected to pace up during the forecast period as big automotive manufacturers are expanding their business in the Latin America region for tapping the opportunities in the region, which is anticipated to boost the market for automotive air compressor accessories in Latin America. Eastern Europe and Middle East & Africa market for automotive air compressor accessories market will show sluggish growth, whereas, the APEJ market is anticipated to record highest CAGR by the end of forecast period.