Automotive Electric HVAC Compressor Market, By Cooling Capacity (Less Than 20 CC, 20-40 CC, 40-60 CC), By Vehicle Type, By Drivetrain and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The global Automotive Electric HVAC Compressor Market size is projected to reach a CAGR of 20.7% from 2022-2028.
An electric compressor is independent of the vehicle engine and is tasked with the dual role of cooling the cabin and the battery pack and protecting the battery from overheating to prevent any breakdown of the vehicle. An electric compressor boasts lesser mechanical parts and hence facilitates quieter and cleaner operations due to lower oil carryover.
Rising fuel prices coupled with the growing awareness about environmental protection have been driving the adoption of electric vehicles and subsequently the demand for electric HVAC compressors.
Electric compressors are anticipated to be widely used by electric car OEMs due to their multi-functionality characteristics and decreased energy usage. In automotive electric HVAC compressor market analysis, it is found that even though an electric compressor is a vital part of an electric vehicle, demand for electric cars alone drives the market for electric compressors. Therefore, any growth in the use of electric cars would immediately result in a rise in the need for electric compressors.
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The air conditioning system uses 20% of a car's total energy, which has an impact on, among other things, the vehicle's acceleration and range. This ratio may be decreased by an electric compressor, increasing the electric vehicle's overall efficiency and range and thus supporting in automotive electric HVAC compressor market growth rate. Electric compressors come with an internal rotation speed control that may be adjusted to save energy usage. Electric compressors prolong the life of the lithium-ion battery while providing good performance at low revolutions.
The Asia Pacific regional market accounted for the high rate of EV adoption in China. China accounted for more than half of the global electric compressor sales in 2020. The continued development of EV charging and transport infrastructure in developing countries across Asia Pacific is expected to boost the sales of electric vehicles and subsequently the demand for electric compressors over the forecast period.
The light commercial vehicle (LMV) automotive electric HVAC compressor market in North America is dominated by the USA, which is expected to continue in the coming future.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 20.7% during the forecasting period, 2022-2028 |
Historical Data |
2019-2020 |
Forecast Years |
2022-2028 |
Base Year |
2021 |
Units Considered |
Revenue in USD billion and CAGR from 2022 to 2028 |
Report Segmentation |
cooling capacity, vehicle type, drivetrain and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Denso Corporation; Hanon Systems; MAHLE GmbH; Sanden Holdings Corporation; Toyota Industries Corporation; Highly Marelli Holdings Co., Ltd.; Valeo S.A |
Available Customization |
In addition to the market data for Automotive Electric HVAC Compressor Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Automotive Electric HVAC Compressor Market is segmented into cooling capacity, vehicle type, drivetrain and region.