Automotive E-Compressor Market Report Will Value To USD 14.7 Billion By 2030 At A CAGR Of 26.2% : Greyviews

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Pune India, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Automotive E-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 till 2030.

The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive e-compressor market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive e-compressor market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as type, product, sales channel, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.

The significant players operating in the global Automotive E-Compressor Market are Hella, WABCO, Brose Fahrzeugteile GmbH & Co. Kg, Robert Bosch GmbH, Sanden Corporation, Valeo S.A., Hanon Systems, Calsonic Kansei Corporation, Toyota Industries Corporation, Mahle Behr GmbH, Delphic Plc among others. To achieve a substantial market share in the worldwide automotive e-compressor market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

E-compressors are powered by a separate electric motor, which reduces the workload of the engine and consequently, vehicle emissions. Providing cleaner air in the cabin is one of the advantages of e-compressors, and the low oil carryover capability makes installation easier and more straightforward. As a result of the complexity involved in designing and developing automotive electric HVAC compressors, production costs rise. 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 e-compressor manufacturers. There are some factors which are affecting the market growth such as high initial cost, high maintenance cost and reduced automotive production. In addition to the enormous initial and maintenance costs, the execution of electric HVAC compressors involves heavy-duty electrical wiring, which ultimately increases the cost of the system overall. As a result, electric compressors require an optimum level of expertise for repair & maintenance, which increases their price overall. A significant accelerating factor in the growth of the automotive E-compressor market is the increased support given by the government to the automobile industry, as well as the increase in the adoption of hybrid and electric vehicles and the increase in research and development activities in the market, among others.

Scope of automotive e-compressor market report :

Report Metric	Information
Study Period	2022-2030
Base Year	2022
Forecast Period	2023-2030
Market Share Unit	USD Billion
Segments Covered	Type, Product, Sales Channel, and Regions.
Regions Covered	North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players	Hella, WABCO, Brose Fahrzeugteile GmbH & Co. Kg, Robert Bosch GmbH, Sanden Corporation, Valeo S.A., 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 in 2022.

The type segment includes electric vehicles and hybrid-electric vehicles. The hybrid-electric vehicles segment is expected to witness the highest growth rate during the forecast period. Providing a dual-fuel alternative to conventional vehicles, hybrid electric cars led the market in 2021. As well as reduced operation and maintenance costs, the segment's growth is also influenced by the type of advantages it offers. As a result of stricter fuel laws and tax incentives, electric vehicles are likely to dominate the market by 2030.

The scroll is expected to be the fastest-growing segment in 2022.

The product segment includes swash, scroll, screw, wobble and others. The scroll segment is expected to witness the highest growth rate during the forecasted period. The automotive e-compressor market is expected to be led by the scroll segment during the forecast period. Automobile manufacturers are focusing on providing low-cost scroll e-compressors to meet their customers' needs. As a result of rising acoustic and cooling demand, this segment is growing rapidly.

OEM is expected to be the fastest-growing segment in 2022.

The sales channel segment includes aftermarket and OEM. The OEM segment is expected to witness the highest growth rate during the forecasted period. A major contributor to this growth is the increasing manufacture of e-vehicles and hybrid vehicles. OEM sales channel segment dominated the market with 55.13% and 8.34 billion in revenue.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the automotive e-compressor market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The Asia Pacific region witnessed a major share. ASEAN countries have experienced a rapid increase in passenger and commercial vehicle sales in recent years, which is expected to boost the automotive e-compressor market in Asia Pacific over the forecast period. In the region, the demand for passenger cars is expected to boost the automotive e-compressor market. Moreover, the region's growth is fueled by an increase in hybrid powertrain systems on vehicles, new auto production, and vehicle upgrades and modifications.

Country Analysis

• Germany

Germany's automotive e-compressor market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 1.29 billion by 2030, at a CAGR of 26.3% from 2023 to 2030.
As the HEV sector in Germany develops quickly and public-private investment initiatives become more common, market growth will be boosted. Germany will hold the highest share of the worldwide automotive e-compressor market.

• China

China's automotive e-compressor market size was valued at USD 0.22 billion in 2022 and is expected to reach USD 1.44 billion by 2030, at a CAGR of 26.5% from 2023 to 2030.
Over the forecast period, the market growth is driven by growing competition among industry players, favourable government policies to boost electric vehicles, and technological advancements in the industry. As well as increasing acceptance of environmentally friendly vehicles, market growth during the forecast period will be driven by the increasing focus on reducing the energy output and weight of traditional IC engine-driven compressors.

• India

India's automotive e-compressor market size was valued at USD 0.17 billion in 2022 and is expected to reach USD 1.10 billion by 2030, at a CAGR of 26.4% from 2023 to 2030.
In India, the automotive e-compressor market is expected to be influenced by the increasing demand for passenger cars. As the region grows, so does the demand for hybrid powertrain systems in vehicles, new automobile production, and the upgrading & modification of existing cars.

Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising demand for electric vehicles.

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