ID: MRFR/AM/8961-HCR | March 2021 | Region: Global | 100 pages
Automotive E-compressors or electric compressors are widely used in vehicles to support the operation of the HVAC system for passenger comfort. E-compressors are powered by a separate electric motor that reduces the workload of the engine and subsequently, vehicle emissions. Low oil carryover of the e-compressor provides cleaner air in the cabin and facilitates fast and simple installation, independent from the vehicle’s engine.
Transportation is a leading cause for rise in levels of pollution worldwide. Tailpipe emissions such as carbon dioxide, nitrogen oxides, hydrocarbons, carbon monoxide, and sulfur dioxide cause respiratory illnesses, heart conditions, and mental illness, which results in increased healthcare burden. The European Environment Agency stated in a report of 2018 that emissions from vehicles have worsened air quality levels across Europe, resulting in more than USD 80 billion of healthcare costs. The traditional belt-driven compressor increases the workload of the engine, which, in turn, reduces the performance and efficiency of the vehicle, thus resulting in higher emissions. These concerns prompted people and automobile manufacturers to adopt fuel efficient and environmental solutions. Thus, an increase in the demand for fuel-efficient and environment-friendly solutions is propelling the global automotive e-compressor market.
The independent operation of automotive e-compressors is boosting sales of electric vehicles. Manufacturers are developing systems that create less noise whilst retaining the same cooling capacity. The growing awareness about the right selection of oil is crucial, as this oil protects the electric motor, which is connected to the automotive e-compressor.
The growing preference for e-compressors by automotive manufacturers to achieve fuel efficiency is a major driving factor for the automotive E-compressor market's growth. However, automotive e-compressors are less powerful than conventional compressors, which might hamper the automotive E-compressor market growth. Moreover, technological developments in the vehicle, favorable government policies promoting EVs are boosting sales and production of EVs, which is expected to influence the automotive E-compressor market's growth during the forecast period.
Automotive e-compressors add extra components to the automobile, which is a key restrain of the market. Several professionals working at automobile repair shops is not acquainted with this new system. Furthermore, e-compressors require additional heavy-duty electrical wiring. This increases the complexity in repair and maintenance of these systems and overall cost. According to the Global EV Outlook 2019 report of International Energy Agency, sale of electric cars witnessed 40% year-on-year growth in 2019 with a total sale of 2.1 million electric cars worldwide. This scenario is eventually driving the automotive e-compressor market. Compressors used in HVAC systems of conventional I.C. engine vehicles are operated through a belt drive that is powered by the engines. However, electric vehicles do not have an engine, or have a smaller engine, which creates a demand for alternate compressor solutions. Therefore, electric vehicle manufacturers are adopting e-compressors. For instance, BMW AG’s ActiveHybrid 7 car uses e-compressor from Hanon Systems.
Companies in the automotive e-compressor market are developing compact components to enable energy savings. Such attributes are being preferred by automotive companies, as energy savings extend the life of lithium-ion batteries. Companies in the automotive e-compressor market are increasing their production in systems that continue A/C running, even when the hybrid or electric car engine is idle or switched off.
Global Automotive E Compressor Market has been segmented By Product, Drivetrain, Vehicle Type, and Region. Based on Product, the global Automotive E Compressor market can be bifurcated into Scroll, Screw, Swash, Wobble, and Others. The Scroll segment is anticipated to grow at a significant CAGR in the coming years. By Drivetrain, the Automotive E Compressor market has been split into BEV, HEV, and PHEV. The BEV segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By Vehicle Type, the Automotive E Compressor market has been split into passenger cars, LCV, and HCV. The passenger cars segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.
Global Automotive E Compressor Market size is anticipated to register a significant CAGR of 30% between 2020 and 2026.
Global Automotive E Compressor market is expected to witness moderate growth during the forecast period owing to the growing preference for e-compressors by automotive manufacturers to achieve fuel efficiency and an increase in the demand for fuel-efficient and environment-friendly solutions. These factors are expected to drive the demand for Automotive E Compressor in the coming years.
Based on region, the global Automotive E Compressor market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia Pacific and Europe are projected to be highly lucrative regions of the global automotive e-compressor market during the forecast period. This is primarily due to the presence of prominent automotive industry in China, Germany, Japan, and India. Rise in demand for electric vehicles across Asia Pacific is likely to boost the automotive e-compressor market in the region. However, Europe has presence of major OEMs and tier-1 suppliers who have advanced research and development facilities, which, in turn, is anticipated to boost the automotive e-compressor market across Europe.
Key Players in the Global Automotive E Compressor Market are Denso Corporation, Hanon Systems, MAHLE GmbH, Mitsubishi Heavy Industries, Ltd., Robert Bosch GmbH, Sanden Corporation, SCHOTT AG, Toyota Industries Corporation, Valeo S.A., and WABCO.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Drivetrain, Vehicle Type, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Denso Corporation, Hanon Systems, MAHLE GmbH, Mitsubishi Heavy Industries, Ltd., Robert Bosch GmbH, Sanden Corporation, SCHOTT AG, Toyota Industries Corporation, Valeo S.A., and WABCO|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||