Pune India, February 8, 2023 (GLOBE NEWSWIRE) — Automotive Electronic Compressor Market Size by Type (Electric Vehicles and Hybrid Electric Vehicles), by Product (swash, scroll, screw, wobble and others), by Sales Channel (OEM and Aftermarket), Regions, Segmentation and Forecast to to 2030.
The market has been studied for the segmentation and regional analysis mentioned below for North America, Europe, Asia, South America and Middle East & Africa. These are the key regions where the automotive electronic compressors market is up and running and expected to expand soon. The manufacturers and suppliers involved in the automotive electronic compressors market they are present in several countries in the regions mentioned above.
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The report provides a detailed understanding of the market segments that have been formed by combining different perspectives such as type, product, sales channel, and regions. The key drivers, restraints, potential growth opportunities, and market challenges are also discussed in the following paragraphs.
The significant actors operating in the world Automotive E-Compressor Market are Hella, WABCO, Brose Fahrzeugteile GmbH & Co. Kg, Robert Bosch GmbH, Sanden Corporation, Valeo SA, Hanon Systems, Calsonic Kansei Corporation, Toyota Industries Corporation, Mahle Behr GmbH, Delphic Plc, among others. To achieve substantial market share in the global automotive electronic compressor market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations and partnerships, ventures joint
Electronic compressors run on a separate electric motor, which reduces engine workload and, consequently, vehicle emissions. Providing cleaner cabin air is one of the advantages of electronic compressors, and the low oil carrying capacity makes installation easier and simpler. As a result of the complexity of the design and development of electric air conditioning compressors for automobiles, production costs increase. The production volume of electric HVAC compressors is also lower than that of belt-driven HVAC compressors. Thus, automotive HVAC manufacturers and vehicle manufacturers will be pushed to bear the increased production costs, resulting in increased revenue for automotive electronic compressor manufacturers. There are some factors affecting the growth of the market such as high initial cost, high maintenance cost and reduction in automobile production. In addition to the huge initial and maintenance costs, running electric HVAC compressors involves heavy-duty electrical wiring, which ultimately increases the cost of the overall system. As a result, electric compressors require an optimal level of expertise for repair and maintenance, which increases their overall price. A major accelerating factor in the growth of the automotive electronic compressor market is the increase in government support to the automobile industry, as well as the increased adoption of hybrid and electric vehicles and the ‘increase in research and development activities in the sector. market, among others.
scope of Automotive Electronic Compressor Market Report:
| Report metric | information |
| Study period | 2022-2030 |
| base year | 2022 |
| Forecast period | 2023-2030 |
| Market Share Unit | A billion dollars |
| Segments covered | Type, product, sales channel and regions. |
| Regions covered | North America, Europe, Asia-Pacific, South America and the Middle East and Africa |
| Main players | Hella, WABCO, Brose Fahrzeugteile GmbH & Co. Kg, Robert Bosch GmbH, Sanden Corporation, Valeo SA, Hanon Systems, Calsonic Kansei Corporation, Toyota Industries Corporation, Mahle Behr GmbH, Delphic Plc among others |
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Segmentation analysis
Hybrid electric vehicles are expected to be the fastest growing segment by 2022.
The type segment includes electric vehicles and hybrid electric vehicles. The electric hybrid vehicle segment is expected to have the highest growth rate during the forecast period. Providing a dual-fuel alternative to conventional vehicles, hybrid electric cars led the market in 2021. In addition to reducing operation and maintenance costs, the growth of the segment is also influenced by the type of benefits it offers. As a result of stricter fuel laws and tax incentives, electric vehicles are likely to dominate the market by 2030.
Roll is expected to be the fastest growing segment by 2022.
The product segment includes swash, scroll, screw, wobble and others. The commuting segment is expected to witness the highest growth rate during the forecast period. The automotive electronic compressor market is expected to be led by the displacement segment during the forecast period. Automakers are focusing on offering low-cost electronic displacement compressors to meet the needs of their customers. As a result of increased demand for acoustics and cooling, this segment is growing rapidly.
OEM is expected to be the fastest growing segment by 2022.
The sales channel segment includes the aftermarket and OEM. The OEM segment is expected to witness the highest growth rate during the forecast period. One of the main factors contributing to this growth is the increase in the manufacture of electric vehicles and hybrid vehicles. The OEM sales channel segment dominated the market with 55.13% and 8.34 billion in revenue.
Regional analysis
Regional analysis provides detailed insight into key regions and countries. Some of the key countries analyzed for the Automotive Electronic Compressor Market include the US, Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South – Africa and Saudi Arabia.
The Asia Pacific region witnessed a significant proportion. ASEAN countries have witnessed a rapid increase in sales of commercial and passenger vehicles in recent years, which is expected to drive the automotive electronic compressor market in Asia Pacific during the forecast period. In the region, demand for passenger cars is expected to drive the automotive electronic compressor market. In addition, the region’s growth is driven by an increase in hybrid propulsion systems in vehicles, new car production, and vehicle upgrades and modifications.
Country analysis
The Germany automotive electronic compressor market size was valued at USD 0.2 billion in 2022 and is expected to reach USD 1.29 billion by 2030, growing at a CAGR of 26.3% from 2023 to 2030.
As the HEV sector in Germany develops rapidly and public-private investment initiatives become more common, market growth will be boosted. Germany will hold the highest share of the global automotive electronic compressor market.
The China Automotive Electronic Compressor market size was valued at USD 0.22 billion in 2022 and is expected to reach USD 1.44 billion by 2030, growing at a CAGR of 26.5% from 2023 to 2030.
During the forecast period, market growth is driven by increasing competition among industry players, favorable government policies to boost electric vehicles, and technological advancements in the industry. In addition to increasing acceptance of environment-friendly vehicles, market growth during the forecast period will be driven by increasing focus on reducing the energy output and weight of traditional engine-driven compressors IC.
The India Automotive Electronic Compressor Market size was valued at USD 0.17 billion in 2022 and is expected to reach USD 1.1 billion by 2030, growing at a CAGR of 26.4% from 2023 to 2030 .
In India, the automotive electronic compressor market is expected to be influenced by the growing demand for passenger cars. As the region grows, so does the demand for hybrid propulsion systems in vehicles, the production of new cars, and the upgrading and modification of existing cars.
Impact of Covid-19
Covid-19 had a major impact on almost all industries such as electronics, semiconductors, manufacturing, automotive, etc. However, several companies operating in the technology sector have seen their revenues increase due to significant changes in consumer preferences towards technology services. In addition, the pandemic has led to significant growth in technology in developed and developing countries.
Moreover, the growth of this market is mainly due to the increasing demand for electric vehicles.
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