Automotive E-Compressor Market: To Witness Comprehensive Growth By 2016 - 2024

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 Global Automotive E-Compressor Market: Introduction

According to the report, the global automotive e-compressor market is projected to cross 122.5 million units by 2030, expanding at a CAGR of ~33%, in terms of volume, during the forecast period. The market for next-generation vehicles, such as electric vehicles (EV) and hybrid electric vehicles (HEV/PHEV) is expanding due to introduction of various models by automobile manufacturers based in Japan, Europe, North America, and China, and venture companies entering the market to capture the growing electric vehicles segment. This, in turn, is boosting the global e-compressor market. Automotive manufacturers globally have been focusing on the adoption of electric compressors for AC systems, since e-compressors possess greater cooling functionality and are more energy-efficient compared to their conventional counterparts.

Expansion of Automotive E-Compressor Market

Passenger cars are the major vehicle type driving the adoption of e-compressors, followed by light duty vehicles and buses. The electrification of heavy-duty trucks is in the nascent stage. In terms of e-compressor type, currently, horizontal variable frequency scroll compressors are being extensively utilized in new energy passenger car air conditioners. This e-compressor type is easy to control and offers better efficiency at high speed. The demand for scroll type e-compressors registered an increase of 34.19% with sale of 3.71 million units in 2019. Sales are anticipated to reach 63.73 million units by 2030. Among drivetrains, electric vehicles remain as a major user of the e-compressor technology. Environmental norms, regulatory incentives, and infrastructure to support electric vehicles have been driving EV sales and subsequently, fueling the demand for e-compressors.

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Regional Analysis of Automotive E-Compressor Market

In terms of region, the global automotive e-compressor market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is anticipated to lead the global automotive e-compressor market during the forecast period, due to prominent rise in sales of electric vehicles, with China already holding the largest electric vehicle fleet of 2 million vehicles. Vietnam has established its own electric vehicle manufacturing facilities, and there has been the collaboration of the Government of the Philippines with the Asian Development Bank for the adoption of e-trike. Developments such as extensive electric vehicle manufacturing capabilities of China and India and high-tech developments in both automotive hardware and software components by Japan and Korea showcase the growth potential for e-compressor market in the region.

Automotive E-Compressor Market Players

Key players operating in the global e-compressor market include Denso Corporation, Sanden Corporation, Mahle Behr GmbH, Toyota Industries Corporation, Hanon Systems, Robert Bosch GmbH, Valeo S.A., Marelli, SCHOTT AG, and Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd.

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