Automotive E-Compressor Market: Introduction
According to the report, the global automotive e-compressor market is projected to cross US$ 2.6 Bn by 2031, expanding at a CAGR of 2.14% during the forecast period. Electric scroll compressors or automotive scroll e-compressors are extensively preferred among vehicle manufacturers. These industries are adopting automotive e-compressors in vehicles to assist the HVAC system operation in order to enhance comfort for passengers. Scroll e-compressors are highly useful to enhance the cooling capacity of HVAC system, as a separate electric motor charges it. Another important feature of the e-compressor is that it is lightweight, thus reducing the overall weight of the vehicle and increase the fuel efficiency of the vehicle.
A major reason behind the increasing levels of pollution across the world is transportation. It creates tailpipe emissions such as nitrogen oxides, carbon dioxide, carbon monoxide, and sulfur dioxide. These tailpipe emissions cause heart conditions, respiratory illnesses, and mental illness that increases healthcare burden. Hence, the development of fuel-efficient solutions can be an effective way to reduce pollution, which, in turn, is estimated to propel the global automotive scroll e-compressor market during the forecast period.
The COVID-19 pandemic caused a negative impact on several industries including automotive, which led to the shutdown of multiple companies. Several automotive companies slashed their investment budget in R&D and reduced production capacities, even closed down some of their manufacturing facilities which in turn hampered the automotive scroll e-compressor market.
Expansion of Automotive E-Compressor Market
Electric vehicle sales are increasing due to the autonomous operation of automotive e-compressor. Numerous automotive manufacturers are implementing solutions that improve cooling capacity while reducing noise. Consequently, the global market is expanding, as people become more aware about the importance of choosing the correct oil to maintain their electric motors.
Fossil fuel-based transportation is the leading cause of rising air pollution worldwide. Therefore, development of fuel-efficient solutions might be an effective strategy for driving the global automotive e-compressor market during the forecast period. Furthermore, electric car sales are increasing due to the autonomous operation of automotive compressor.
The market for next-generation vehicles, such as electric vehicles (EV) and hybrid electric vehicles, is expanding due to the introduction of various models by automobile manufacturers based in Japan, Europe, North America, and China, as well as venture companies entering the market to capture the expanding electric vehicles segment. Consequently, the global automotive scroll e-compressor market is expanding. Automobile manufacturers throughout the world have been focused on the adoption of electric compressors for air conditioning systems, because scroll e-compressors offer higher cooling capability and are more energy-efficient than their conventional counterparts.
Various marketing sectors have suffered significant losses as a result of the global COVID-19 outbreak. The global automotive market was the most notable of these. The market has suffered a significant loss due to a shortage of transportation, manpower, needs, productivity, and many other factors. The global pandemic disrupted the supply chain of the global market for automotive e compressor, which has led to an abrupt halt in investment.
Regional Analysis of Automotive E-Compressor Market
In terms of region, the global automotive scroll e-compressor market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa and South America. Of these, North America, Europe, and Asia Pacific are expected to account for a significant share of the global automotive scroll e-compressor market. Asia Pacific is a prominent market, owing to the significant expansion of the automotive industries in Japan, China, South Korea, and India. Furthermore, the region also leads the global automotive scroll e-compressor market, owing to rise in demand for electric vehicles in various parts of Asia Pacific.
Middle East & Africa and Latin America are expected to be emerging regions of the global automotive e-compressor market during the forecast period. This is primarily due to the emergence of the automobile industry in the last few years in these regions. Furthermore, the market in Latin America is expanding owing to the presence of tier-1 suppliers, and large automobile manufacturing plants in the region.
Automotive E-Compressor Market Players
Prominent players operating in the global automotive scroll e-compressor market include Brose Fahrzeugteile GmbH & Co. Kg, Calsonic Kansei Corporation (Marelli), Continental AG, Delphi Plc, Denso Corporation, Hanon Systems, Hella, MAHLE Behr GmbH, Panasonic Corporation, Robert Bosch GmbH, Sanden Corporation, and Valeo S.A.
Global Automotive Scroll E-Compressor Market: Segmentation
Automotive Scroll E-Compressor Market, by Sales Channel
- After market
- Automotive Scroll E-Compressor Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Buses & Coaches
Automotive Scroll E-Compressor Market, by Cooling Capacity
- Less than 20 CC
- 20 to 40 CC
- More than 40 CC
Automotive Scroll E-Compressor Market, by Material
- Others (Composite Plastic)
Automotive Scroll E-Compressor Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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