The Global Automotive E Compressor Market is projected to register the market size at a CAGR of 30% during the forecast period of 2020 to 2027.
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 charges 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.
Across the world, the major reason behind the increasing levels of pollution is transportation. It creates tailpipe emissions like nitrogen oxides, carbon dioxide, carbon monoxide, and sulfur dioxide. These tailpipe emissions cause heart conditions, respiratory illnesses, and mental illness that increases healthcare burden. Hence, the development of fuel-efficient solutions can be an effective way, and it can propel the Global Market Growth of Automotive E Compressor for the research period. Moreover, the sales of electric vehicles are growing due to the automotive compressor’s independent operation. Even many automobile manufacturers are adopting systems that offer better cooling capacity and create less noise. Therefore, the increasing awareness about the right selection of oil to protect the electric motor is boosting the growth of the Global Market.
According to the Global Market report of Automotive E Compressor, many manufacturers or companies are involved in the market to develop compact components to save energy. This energy savings has attracted many automotive companies as it has expanded lithium-ion batteries’ life cycle. Hence, the production in the system is increasing by the automotive e-compressor companies and boosting up the Global Market Growth for the upcoming years.
During the global COVID-19 pandemic, various marketing sectors have gone through huge losses, affecting their growth. Among these, the Global Market was the one. This market has experienced a huge loss due to the lack of transportations, workforce, demands, productivity, and many others. A sudden stoppage of investment has been evident at this time as the global pandemic has disrupted the supply chain of the Global Market of Automotive E Compressor.
However, the global key players have taken collective initiatives to enhance the growth of the global market at a significant rate. They are predicted to grow the Global Market Size of Automotive E Compressor for the forecast period.
Competitive Landscape Analysis
As per the Global Automotive E Compressor Industry report, the growth of the global market depends upon various factors, and the contributions of key players are one of these factors. These key players are:
- Hanon Systems,
- Denso Corporation,
- Robert Bosch GmbH,
- MAHLE GmbH,
- Mitsubishi Heavy Industries, Ltd.,
- Sanden Corporation,
- Valeo S.A.,
- SCHOTT AG,
- Toyota Industries Corporation.
These mentioned key players are propelling the strength of the Global Market Trends of Automotive E Compressor by contributing advanced technologies and promotional strategies. Hence, it has been witnessed that the global market is at the growth stage.
- Major Key Driver
The Global 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 the 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 Global Market Growth of Automotive E Compressor for the forecast period.
- Growth Opportunities for the Market
The Global 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 of the Global Market.
- Market Restraints
Although the Global Market of Automotive E Compressor has many growth factors, it might hamper the growth due to less power of automotive e-compressors as compared to conventional compressors.
The Global Automotive E Compressor Market Trends might face major restraints due to extra components to the automobile.
- Challenges experienced by the market
The Global Automotive E Compressor Market might experience challenges due to the lack of professionals n the automobile firm. Many studies have mentioned that the advanced systems are very difficult for the workers at automobile repair shops and also it requires additional heavy-duty electrical wiring.
Hence, the heavy maintenance of these systems, increasing complexity in repair, and overall system cost might bring more challenges to the Global Market of Automotive E compressors.
- Cumulative Growth Analysis
As per the International Energy Agency’s Global E.V. Outlook 2019 report, 40% growth has been witnessed in the sale of electric cars for the year and the total electric car sale of 2.1 million across the globe. This kind of growth is thriving the cumulative growth of the Global Automotive E Compressor Market for the upcoming year.
The demand for alternate compressor solutions is growing as electric vehicles do not have a smaller engine or have an engine. Thus, the adoption of E-compressors is increasing among electric vehicle manufacturers.
Market Segment Overview
The Global Automotive E Compressor Market is segregated into Drivetrain, Product, and Vehicle Type.
- By Product:
The Global Automotive E Compressor market has been classified into Wobble, Screw, Scroll, Swash, and others based on product segment.
The scroll segment is projected to increase the global Market Size of the Automotive E Compressorat a significant CAGR for the forecast period.
- By Drivetrain:
The drivetrain segment has segregated the Global market of Automotive E Compressor into PHEV, BEV, and HEV.
The BEV segment is registered to generate the higher Global Market Share of Automotive E Compressor for the assessment period. Further, it is predicted to contribute at a significant CAGR for the research period.
- By Vehicle Type:
Based on the vehicle type segment, the global market of Automotive E Compressor has been segmented into HCV, passenger cars, and LCV.
Among these, the passenger cars segment holds the largest Global Market Share for the forecast period. Further, it is projected to increase the CAGR growth rate in the coming years.
Based on geographical segments, the Global Automotive E Compressor Market Trends has been classified into various regions such as Europe, Asia-Pacific, North America, and other countries.
Out of all these regions, the Europe and Asia Pacific regional markets are predicted to register Global Market Share of Automotive E Compressor for the forecast period. The Asia Pacific region is showing lucrative growth due to the prominent automotive industries in developing countries like Japan, China, Germany, and India. Moreover, this region boasts the Global Market of Automotive E Compressor growth due to the increasing demand for electric vehicles in various parts of the Asia Pacific region. The European region is propelling the market growth due to the advanced research and development facilities and tier-1 suppliers, and major OEMs in the region.
Recently, E-compressor from Hanon Systems has been used in the BMW AG’s ActiveHybrid 7 car.
According to the Global Automotive E Compressor Industry report, the report is a combination of detailed analysis of quantitative and qualitative analysis, which has used the primary data collection method to measure the performance of the market and the industry. This report has highlighted the statistical data, governing factors, recent developments, regional analysis, and competitive analysis to understand the growth aspects of the Global Market.
The Global Automotive E Compressor Industry report has focused on the market segments, market overview, market dynamics, Global Market Size of the Automotive E Compressor in terms of value and volume. The report has mentioned that the global market has witnessed a higher growth in the present scenario. Further, it has expected to grow at a higher pace for the forecast period.
By Drive train:
By Vehicle Type:
- passenger cars,
|Market Size||2030: Significant Value|
|Historical Data||2017 & 2021|
|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||· The growing preference for e-compressors|
· Technological developments in the vehicle
· Favorable government policies promoting EVs are boosting sales and production of EVs