New York, United States , April 17, 2024 (GLOBE NEWSWIRE) -- The Global Automotive E Compressor Market Size is to Grow from USD 3.142 Billion in 2023 to USD 43.64 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 30.10% during the projected period.
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An automotive e-compressor, also known as an electric compressor or an electrically powered compressor, is a device that uses an electric motor to compress refrigerant gases in a vehicle's air conditioning system. It operates independently of the engine, providing efficient cooling and climate control for both traditional internal combustion engines and electric vehicles. The vehicle industry makes extensive use of electric compressors, also known as automotive E-compressors. Additionally, the automotive E-compressor market is rapidly expanding as demand for electric vehicles (EVs) rises and advanced automotive air conditioning systems become more prevalent. E-compressors help electric vehicles run more efficiently by providing air conditioning and cooling functions. These compressors run on electricity, eliminating the need for traditional engine-driven compressors while lowering emissions. The growing consumer preference for electric vehicles, driven by environmental concerns and government incentives, is a major driver of the automotive e-compressor market. E-compressors are critical components in electric vehicles, providing efficient cooling without relying on the engine. However, the initial cost of installing e-compressors in vehicles is higher than that of traditional engine-driven compressors. This factor can stymie their adoption, especially in price-sensitive markets where cost is an important factor in purchasing decisions. The scarcity of charging stations might limit the adoption of electric vehicles, thereby indirectly impacting demand for e-compressors.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Automotive E Compressor Market Size, Share, and COVID-19 Impact Analysis, By Product (Scroll, Screw, Swash, Wobble, Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Drivetrain (BEV, HEV, PHEV), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The scroll segment is expected to hold the greatest share of the global automotive E compressor market during the projected timeframe.
Based on the product, the global automotive E compressor market is categorized into scroll, screw, swash, wobble, and others. Among these, the scroll segment is expected to hold the greatest share of the global automotive E compressor market during the projected timeframe. Automotive E compressor machines consist of two spiral-shaped scroll elements that are bolted together. They have two scrolls: one stationary and one orbiting, powered by motors. These machines outperform other compressors in terms of volume efficiency. This happens when there are no pistons to compress the gas. The scroll element of the scroll air compressor ensures that it operates smoothly and without vibration. When compared to a piston compressor, it shows almost no torque variation.
The passenger cars segment is expected to grow at the highest CAGR during the forecast period.
Based on the vehicle type, the global automotive E compressor market is categorized into passenger cars and commercial vehicles. Among these, the passenger cars segment is expected to grow at the highest CAGR during the forecast period. In passenger cars, e-compressors are essential for maintaining optimal cabin temperatures, resulting in a more comfortable and enjoyable driving experience. As more people choose electric and hybrid passenger vehicles, the demand for efficient and compact e-compressor systems increases.
The BEV segment is expected to hold the biggest share of the global automotive E compressor market during the projected timeframe.
Based on the drivetrain, the global automotive E compressor market is categorized into BEV, HEV, and PHEV. Among these, the BEV segment is expected to hold the biggest share of the global automotive E compressor market during the projected timeframe. compared to most other automobiles, EVs lack internal combustion engines. They run entirely on battery power rather than fuel, and customers can charge them at their leisure. Rising fuel consumption, rising gas prices, and heightened awareness of environmental impact are among the factors driving BEV adoption.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. Consumer interest in electric vehicles has grown in the United States and Canada, creating a greater demand for efficient thermal management systems. Government incentives and environmental regulations that promote clean energy solutions contribute to market growth. Collaborations between automotive manufacturers and regional technology providers are also driving e-compressor innovation.
Europe is expected to grow the fastest during the forecast period. Europe is growing at the fastest pace in the global automotive e-compressor market, owing to stringent emission standards, strong government support for electric mobility, and a proactive commitment to sustainability. Countries like Germany, France, and the United Kingdom are seeing an increase in the adoption of electric vehicles, which is driving demand for sophisticated thermal management systems.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Automotive E Compressor Market are Denso Corporation, Hanon Systems, Sanden Holdings Corporation, Valeo S.A., MAHLE GmbH, Panasonic Corporation, Delphi Technologies, Calsonic Kansei Corporation, Mitsubishi Heavy Industries, Ltd., Subros Limited, Robert Bosch GmbH, Sanden Corporation, and Other Key Vendors.
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Recent Developments
- In September 2023, Brose, an automotive supplier, unveiled a powerful 800-volt climate compressor that allows for rapid charging in less than 30 minutes. As a pioneer, Brose introduced this high-voltage variant in China, establishing a new standard in thermal management. This electric climate compressor is extremely efficient, thanks to advanced power electronics that allow for rapid vehicle battery charging.
Market Segmentation:
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive E compressor market based on the below-mentioned segments:
Global Automotive E Compressor Market, By Product
- Scroll
- Screw
- Swash
- Wobble
- Others
Mixed Reality Market, Device Type Analysis
- Wired Device
- Wireless Device
Global Digital Evidence Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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