Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Automotive E Compressor Market Overview:
The Automotive E Compressor Market Size was valued at USD 1.6 Billion in 2021. The Automotive E Compressor market industry is projected to grow from USD 3.4 Billion in 2022 to USD 36.2 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 34.12% during the forecast period (2022 - 2030). Electric compressors or automotive E-compressors are extensively preferred among the vehicle industries. These industries are using these automotive E-compressors in vehicles to assist the HVAC system operation for the comfort zone of passengers. The E-compressors are very useful for reducing the vehicle emissions and workload of the engine because a separate electric motor charge it. Another important feature of the E-compressor is that it has low carryover oil, which is helpful for the vehicle's engine to clean air in the cabin. Also, it provides a simple installation process and facilitates a fast engine.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive E Compressor Market Trends
-
The growing preference for e-compressors across the globe is expected to drive market growth.
The Automotive E Compressor Market is driving growth due to the increasing demand for e-compressors to achieve fuel efficiency by several automotive manufacturers, favorable government policies promoting the electric vehicle, and technological developments in the vehicle. According to the European Environment Agency report (2018), the air quality levels are worsening due to emissions from vehicles in Europe, which results in higher healthcare costs that can be more than USD 80 billion. This report has mentioned that the traditional belt-driven compressor reduces the efficiency and performance of the vehicle and increases the engine's workload, which results in increased emissions. Hence, it increased environmental concern among the people, and according to manufacturers, it has adopted environmental solutions and fuel-efficient solutions. These kinds of initiatives are thriving the Market Growth of Automotive E Compressor for the forecast period.
Additionally, The Automotive E Compressor Market has lucrative opportunities due to the increasing investments in the research and development of e-compressors. Moreover, the innovation of new product launches brings opportunities for the manufacturers and key players in the Market.
Automotive E Compressor Market Segment Insights
Automotive E Compressor Product Insights
The Automotive E Compressor market segmentation, based on Product, includes Scroll, Screw, Swash, Wobble, and Others. The scroll segment is expected to have the largest share in the automotive e-compressor market during the forecast period of 2022-2030. Automobile manufacturers are focusing on providing low-cost scroll e-compressors. The rising demand for goods with improved acoustics and cooling capacity is driving the growth of this segment. The swash segment is expected to grow the fastest during 2022-2030. Its pistons help the internal palate to rotate and its ends help pressurize and discharge refrigerant. Because of the technical advancements of swash over scrolls, the segment of swash is ought to be growing the fastest.
Automotive E Compressor Drivetrain Insights
Based on Drivetrain, the Automotive E Compressor market segmentation includes BEV, HEV, and PHEV. The BEV segment is expected to have the largest share in the automotive e-compressor market during the forecast period of 2022-2030. EVs differ from most other automobiles as they have no internal combustion engines. They run entirely on battery power rather than fuel and customers can charge them at their leisure. Rising fuel consumption, increasing gas prices, and increasing awareness regarding environmental impact are some of the factors supporting the adoption of BEVs.
Automotive E Compressor Vehicle Type Insights
Based on Vehicle Type, the Automotive E Compressor market segmentation includes Passenger Cars, LCVs, and HCV. passenger car is expected to have the largest share in the automotive e-compressor market during the forecast period. Rising disposable income in developing countries, increasing number of passenger car bookings, and increasing professional and leisure bookings are some of the factors driving the growth of this segment. Light Commercial Vehicle (LCV) is analyzed to be the fastest growing in the automotive e-compressor market. Increasing demand for LCVs across the globe, and increasing product launch strategies are the major factors driving the growth of this segment.
Figure 2: Automotive E Compressor Market, by Drivetrain, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive E Compressor Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe has traditionally been a significant producer of cars and vehicles. The presence of top automobile manufacturers, rising expenditure in research and development activities, and increasing demand for e-vehicles are driving the growth of this segment. Germany is expected to have the largest share in the automotive e-compressor market during the forecast period. The HEV sector in Germany is rapidly rising and hence there is an increase in public-private investment strategies. Â
Figure 3: Automotive E-Compressor Market Share By Region 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Asia-Pacific and North America both are expected to be the fastest during the forecast period. This is attributed to the increasing demand for e-cars, two-wheelers, and heavy vehicles. The majority of automotive e-compressor providers are expecting to expand in energy-efficient EVs in this region. Strong supply chain management in Asia-Pacific will help the market grow rapidly. The markets in China, India, South Korea, and Japan have become significant production centers due to strong R&D potential and efficient capacity to manufacture automotive e-compressors and electric motors.
Automotive E Compressor Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Automotive E Compressor market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Automotive E Compressor industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Automotive E Compressor. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Automotive E Compressor industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Automotive E Compressor industry to benefit customers and expand the market sector. The Automotive E Compressor market has recently given medicine some of the most important advantages. Major hair care product market players, including WABCO, Toyota Industries, Panasonic, Denso Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Wabco Compressor Manufacturing Company offers commercial vehicle auto parts. The Company provides air compressors and processors, suspensions, vehicle and emission control systems, breaks, and trailer driver assistance, and Smart fleet management solutions. Wabco Compressor Manufacturing serves clients globally.
Also, Toyota Industries Corporation (President: Akira Onishi) will increase the capacity of the machining line of its Higashiura Plant and its Chinese subsidiary TACK*1, the assembly line of its Kariya Plant, and construct a 10-Billion-unit production capacity to respond to the growing demand for electric compressors for car air conditioners amidst the electrification of automobiles. In particular, the Higashiura Plant which manufactures shells, rotors, and other key components for compressor functions will be expanded to approximately double the size of the current plant and a new machining line for electric compressor components will be constructed, with production beginning in October 2022.
List of the Key Companies in the Automotive E Compressor market include
- Denso Corporation
- Hanon Systems
- MAHLE GmbH
- Mitsubishi Heavy Industries Ltd.
- Robert Bosch GmbH
- Sanden Corporation
- SCHOTT AG
- Toyota Industries Corporation
- Valeo S.A.
- WABCO
- Among others.
Automotive E Compressor Industry Developments
In November 2021, Hanon methods inaugurated a new production site to assemble elements for eco-friendly cars in Korea.
In March 2021, the building of the 5th production plant of Hanon Systems began in Korea.
Automotive E Compressor Market Segmentation
Automotive E Compressor Product Outlook
- Scroll
- Screw
- Swash
- Wobble
- Others
Automotive E Compressor Drivetrain Outlook
- BEV
- HEV
- PHEV
Automotive E Compressor Vehicle Type Outlook
- Passenger Cars
- LCV
- HCV
Automotive E Compressor Regional Outlook
-
North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
