Newark, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.65 billion in 2023 global automotive e-compressor market will reach USD 18.59 billion in 2033. An electric compressor, or e-compressor, is a device that compresses gaseous refrigerants to achieve high temperatures and pressures. Commonly used in automotive HVAC systems, e-compressors enhance passenger comfort by ensuring efficient air conditioning. Unlike traditional compressors, electric compressors come with a built-in motor and are powered directly by the car battery, which is recharged by the alternator. This setup helps prevent the battery from overheating and protects the vehicle from potential system failures.
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Electric compressors are predominantly used in the air conditioning systems of electric vehicles, particularly as scroll compressors. They offer several advantages, including precise control, fast cooling, quick response times, and a wide adjustment range. The e-compressor's ability to detect power supply voltage and adjust its driving power accordingly makes it well-suited for automotive applications.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 1.65 Billion |
| Market Size in 2033 | $ 18.59 Billion |
| CAGR | 27.4% |
| No. of Pages in Report | 150 |
| Segments Covered | Sales Channel, Type, Product, Vehicle Type, Cooling Capacity |
| Drivers | Stringent regulations on vehicular efficiency and emissions |
| Opportunity | The rising competition among market players |
| Restraints | Huge initial costs and maintenance costs |
Key Insight of the Global Automotive e-compressor Market
Europe will dominate the market during the forecast period.
Europe is expected to experience the highest growth in the automotive e-compressor market during the forecast period. This growth is attributed to the presence of numerous automotive OEMs and the increasing demand for hybrid powertrain systems and innovative automotive technologies in the region.
In 2023, the OEM segment dominated the market with the largest market share of 55.4% and revenue of 0.91 billion.
The sales channel segment is divided into aftermarket and OEM. In 2023, the OEM segment dominated the market with the largest market share of 55.4% and revenue of 0.91 billion.
In 2023, the scroll segment dominated the market with the largest market share of 24.28% and revenue of 0.40 billion.
The product segment is divided into wobble, screw, scroll, swash, and others. In 2023, the scroll segment dominated the market with the largest market share of 24.28% and revenue of 0.40 billion.
In 2023, the hybrid electric vehicles (HEV) segment dominated the market with the largest market share of 58.23% and revenue of 0.96 billion.
The type segment is divided into hybrid electric vehicles (HEV) and electric vehicles (EV). In 2023, the hybrid electric vehicles (HEV) segment dominated the market with the largest market share of 58.23% and revenue of 0.96 billion.
In 2023, the passenger vehicle segment dominated the market with the largest market share of 43.3% and revenue of 0.714 billion.
The vehicle type segment is divided into medium & heavy commercial vehicles, passenger vehicle, and light commercial vehicles. In 2023, the passenger vehicle segment dominated the market with the largest market share of 43.3% and revenue of 0.71 billion.
In 2023, the less than 20 CC segment dominated the market with the largest market share of 43.4% and revenue of 0.716 billion.
The cooling capacity segment is divided into more than 60 CC, 20 to 40 CC, and less than 20 CC. In 2023, the less than 20 CC segment dominated the market with the largest market share of 43.4% and revenue of 0.716 billion.
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Advancement in market
At its plant in Palmela, Portugal, Korean automaker Hanon Systems says it has manufactured more than 500,000 CO2 (R744) electronic compressors, or eCompressors, for electric vehicle (EV) heat pumps. Due to their "better" heating performance, R744 heat pumps are preferred by "some automakers, mainly in Europe," according to the manufacturer.
Market Dynamics
Driver: Stringent Regulations on Vehicular Efficiency and Emissions.
Stringent regulations governing vehicle efficiency and emissions drive the growth of the electric compressor market. Traditional belt-driven compressors increase engine workload, leading to reduced vehicle efficiency and higher emissions. In contrast, electric compressors contribute to improved vehicle efficiency and lower emissions, aligning with regulatory standards and driving market demand.
Restraints: High Initial and Maintenance Costs.
The high initial and maintenance costs associated with electric compressors are significant market restraints. Implementing electric HVAC compressors requires heavy-duty wiring, which increases system costs. Additionally, repairing and maintaining electric compressors demands specialized expertise, adding to the overall expense. The high cost and range anxiety related to electric vehicles also contribute to a temporary decline in sales.
Opportunities: Rising Competition Among Market Players.
The presence of numerous industry players globally fuels competition and innovation in the automotive e-compressor market. Recent advancements in electric vehicles and their air conditioning systems further stimulate market growth. The emergence of local vendors and their innovative product offerings enhance competitiveness in the market. The growing demand for fuel-efficient and environmentally friendly vehicles also supports market expansion.
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Some of the major players operating in the global automotive e-compressor market are:
• Mahle Behr GmbH
• Denso Corporation
• Toyota Industries Corporation
• Valeo S.A.
• Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd
• Robert Bosch GmbH
• Sanden Corporation
• Hanon Systems
• SCHOTT AG
• Marelli
Key Segments covered in the market:
By Sales Channel
• Aftermarket
• OEM
By Product
• Wobble
• Screw
• Scroll
• Swash
• Others
By Type
• Hybrid Electric Vehicles (HEV)
• Electric Vehicles (EV)
By Vehicle Type
• Medium & Heavy Commercial Vehicles
• Passenger Vehicle
• Light Commercial Vehicles
By Cooling Capacity
• More than 60 CC
• 20 to 40 CC
• Less than 20 CC
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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