Automotive Electric HVAC Compressor Market to Generate a Revenue of US$ 56.3 Billion By 2031 | Astute Analytica
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/automotive-electric-hvac-compressor-market
The rapid development of electric vehicle (EV) technologies, technological advancement, environmental regulations, and efforts have all contributed to the impressive rise of the global automotive electric HVAC compressor market in recent years. The popularity of electric HVAC compressors in EVs is rising owing to their low energy consumption, dependability, and small size.
The global automotive electric HVAC compressor market is expanding as a result of governments around the world setting strict pollution reduction goals and providing incentives to encourage the use of electric cars (EVs). For instance, the regulations of the European Union set a target to cut the typical CO2 emissions for new cars by 15% by 2025 and 30% by 2030. By 2025, the Chinese government wants new energy vehicle (NEV) sales to account for 20% of all vehicle sales, up from about 5% in the current year.
A strong charging infrastructure is becoming necessary as the number of EVs on the road increases. The market for car electric HVAC compressors will benefit from this. For example, the Biden administration in the United States has suggested a plan to invest $174 billion in the EV sector, including the development of a national network of 500,000 charging stations by 2030. By 2025 and 2030, the European Commission wants to see at least 1 million and 3 million public charging stations installed across the continent. The need for electric HVAC compressors will rise owing to the growth of the charging infrastructure, which will encourage more people to purchase EVs.
Recent advancements suggest that these compressors will be used more frequently, largely due to their inherent benefits over conventional belt-driven compressors. Due to improved efficiency, a decrease in overall vehicle weight, and improved cooling capabilities, particularly during idle-stop phases, they have been experiencing a substantial increase in demand. Further fueling the automotive electric HVAC compressor market is the transition towards autonomous vehicles, which place a premium on passenger comfort. This has increased demand for more effective air-conditioning systems.
3-4 kw Cooling Capacity Attains 42% of Market Revenue Share
With a share of 42.02%, the 3–4 kw category dominates, and its popularity can be due to its appropriateness for several uses. The main benefactors of this cooling capacity are passenger automobiles and light commercial vehicles in particular since they offer effective temperature management while consuming the least amount of energy.
The demand for compressors within this cooling capacity range is further increased by the automobile industry's rising emphasis on energy efficiency as well as the popularity of electric and hybrid vehicles.
Hybrid Electric Vehicle Capture More Than 50% of Market Revenue Share
The hybrid vehicle market sector, which provides a balance between conventional internal combustion engines and electric drivetrains, has the highest market share, at 58.46%.
In the global automotive electric HVAC compressor market, consumers seeking to lessen their environmental effects without fully committing to electric vehicles will find them to be an appealing option due to their efficiency and reduced emissions when compared to purely combustion engine vehicles. Customers are increasingly favoring HEVs that promise higher fuel efficiency, especially in developed markets.
Asia Pacific Contributed About 57% of Market Revenue Share
In 2022, the Asia Pacific region accounted for 57% of the global automotive electric HVAC compressor market, which was primarily driven by factors such as the mass production of EVs, EV adoption incentives from the government, and an expanding charging infrastructure.
The breadth and variety of the Asia Pacific area, which includes developed nations like China, India, South Korea, and Japan as well as developing ones like ASEAN, can also be credited for the region's supremacy in the market. These nations have been at the forefront of EV adoption.
Particularly in China, the EV market has experienced impressive growth, with 57% of global EV sales occurring there in the first half of 2022, along with a startling 118% Y-O-Y growth. Given that China is the fastest-growing market in the area and that electric HVAC compressors are essential to maintaining passenger comfort in EVs, China is projected to continue to lead demand growth for these components.
Moreover, as people look for more affordable and ecologically friendly transportation options, the region's growing fuel prices have accelerated the trend toward electric vehicles. The demand for electric HVAC compressors in the Asia Pacific area is anticipated to increase as a result of this trend and benevolent government policies and incentives.
The demand for electric HVAC compressors will continue to be driven by the growing adoption of electric vehicles in the Asia Pacific region, which is backed by expanded charging infrastructure and supportive government regulations. The market is anticipated to grow significantly in these regions as EV sales and charging infrastructure continue to rise.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/automotive-electric-hvac-compressor-market
Top 4 Players Collectively Hold Around 40% of Revenue Share
The top four manufacturers of automobile electric HVAC compressors control nearly 40% of the market. The market leaders include Toyota Industries Corporation, Hanon Systems, Denso Corporation, and MAHLE Group. The competitive landscape of the industry is rising due to mergers and acquisitions, collaborations with local HVAC equipment manufacturers, and the establishment and maintenance of tie-ups with automakers.
Some of the Prominent Competitors are:
• Calsonic Kansei Corporation
• Continental Group
• DENSO
• Hanon Systems
• Keihin Corporation
• MAHLE Group
• Michigan Automotive Compressor, Inc
• Robert Bosch GmbH
• SANDEN CORPORATION
• Subros Limited
• TOYOTA INDUSTRIES CORPORATION
• Valeo SA
• Other Prominent Players
Segmentation Outline
The global automotive electric HVAC compressor market segmentation focuses on Component, Cooling Capacity, Voltage Range, Vehicle Type, Drivetrain, Sales Channel, and Region.
By Component
• Compressor Section
• Motor
o Power Module
o Intelligent
o Others
• Oil Separator
• Others
By Cooling Capacity
• 2 - 3 kw
• 3 - 4 kw
• 4 - 5 kw
• More than 5 kw
By Voltage Range
• 10 - 16V DC
• 20 - 31V DC
• 35 - 65V DC
• 58 - 92V DC
• 80 - 120V DC
By Vehicle Type
• Heavy-Duty Vehicles
o Large Pickups
o Delivery Trucks
o Recreational Vehicles
• Light-duty Vehicles (LCVs)
o Passenger Cars
o Buses
o Passenger Vans
o Sports Utility Vehicles
By Drivetrain
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
By Sales Channel
• OEMs
• Aftermarket
By Region
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
o Rest of Western Europe
• Eastern Europe
Poland
Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/automotive-electric-hvac-compressor-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
