Automotive Electric HVAC Compressor Market

The global automotive electric HVAC compressor market accrued earnings worth approximately 10.01 (USD Billion) in 2020 and is predicted to gain revenue of about 38.51(USD Billion) by 2028, is set to record a CAGR of nearly 21.2% over the period from 2021 to 2028. The report offers assessment and analysis of the automotive electric HVAC compressor market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Automotive Electric HVAC Compressor Market: Outlook

An electric HVAC compressor provides myriad advantages in comparision to conventional compressor. These benefits include less power usage, compact size, controlled speed of revolution, and noise-free functions in vehicles. Additionally, an electric HVAC compressor is a key part of overall operations of electric vehicle. Surging fuel costs along with rise in awareness associated with ecological protection is steering acceptance of electric automotive, thereby esclating popularity of electric HVAC compressors.

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Automotive Electric HVAC Compressor Market: Growth Drivers

Surge in demand for light automotive along with globalization & urbanization in developing countries will drive market growth over forecast period. Furthermore, massive increase in manufacture of commercial & passenger vehicles will create lucrative avenues for automotive electric HVAC compressor industry over assessment timespan. In addition to this, increase in number of electric and premium automotive will embellish automotive electric HVAC compressor industry expansion during projected timeline. Nonetheless, huge initial prices & maintenance costs of product will inhibit growth of automotive electric HVAC compressor industry during 2021-2028.

Moreover, growing concerns pertaining to minimization of fuel emissions from vehicles will translate into massive demand for electric HVAC compressors in vehicles over the upcoming years. Apart from this, surge in sales of electric vehicles in European countries will spearhead expansion of automotive electric HVAC compressor market over next couple of years.

Regional Landscape

Asia Pacific Market Share To Witness Massive Surge Over 2021-2028

The growth of automotive electric HVAC compressor industry in APAC over anticipated timespan is due to large-scale acceptance of electric vehicles in countries such as China and India. In addition to this, presence of robust transportation infrastructure and electric vehicle charging workstations in countries of Asia Pacific will create new growth opportunities for regional industry over the assessment period. With reputed EV producers found in countries like Japan and South Korea along with steep increase in electric vehicle sales, the demand for electric HVAC compressors is anticipated to gain momentum across vehicle manufacturing sector in sub-continent. This, in turn, will boost regional market trends.

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Competitive Landscape

Key players profiled in report include:

  • Denso Corporation
  • Valeo S.A.
  • Hanon Systems
  • Toyota Industries Corporation
  • MAHLE GmbH
  • Highly Marelli Holdings Co., Ltd.
  • SANDEN Holdings Corporation

The global Automotive Electric HVAC Compressor Market is segmented as follows:

By Vehicle Type

  • Passenger Vehicles
  • Buses & Coaches
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Capacity

  • Less Than 20CC
  • 20CC-40CC
  • 40CC-60CC
  • More Than 60CC

By Drivetrain

  • Plug-in Hybrid Electric Vehicles
  • Hybrid Electric Vehicles
  • Battery Electric Vehicles

By Region

  • North America
  • The U.S.
  • Canada
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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