PUBLISHER: 360iResearch | PRODUCT CODE: 1466817
PUBLISHER: 360iResearch | PRODUCT CODE: 1466817
[182 Pages Report] The Automotive E-Compressor Market size was estimated at USD 2.49 billion in 2023 and expected to reach USD 2.76 billion in 2024, at a CAGR 11.34% to reach USD 5.29 billion by 2030.
An automotive e-compressor, mainly used in electric and hybrid vehicles, is a device used to manage the climate control system. They operate using electric power, usually drawn from the vehicle's battery or electrical system, to compress refrigerant gases for air conditioning or heat pump functions.With the increasing focus on environmentally friendly transport solutions and rising demand for electric vehicles, the need for e-compressors is expanding. Global initiatives to reduce carbon emissions pushing for the electrification of vehicles, rising consumer preference for energy-efficient vehicles, and growing supportive government policies favoring electric vehicle adoption have also accelerated the demand for e-compressors. However, the high manufacturing costs of e-compressors and technical complexities in their design and integration impede the product development process. Market players are working on design enhancement for compact and lightweight compressors, the development of high-performance e-compressors, reduction of manufacturing costs through material innovations, and establishment of sustainable supply chain practices. The market also holds potential opportunities that include partnerships with automotive manufacturers for seamless integration of e-compressors and investments in R&D for energy-efficient compressors.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 2.49 billion |
Estimated Year [2024] | USD 2.76 billion |
Forecast Year [2030] | USD 5.29 billion |
CAGR (%) | 11.34% |
Type: Improved operational efficiency and functioning benefits of screw compressors
The screw compressor utilizes two interlocking screws that compress the air between them, making it a highly efficient and reliable system, and it is preferred in environments needing constant and high-pressure air supply. In scroll compressors, two spiral-shaped scrolls are used to compress the air. These compressors are popular for their silent operation and ideal for temperature-sensitive settings such as passenger vehicles. Swash or axial piston compressors are marked by their compactness, high efficiency, and enhanced durability. This makes them preferable for heavy-duty applications, including commercial vehicles or high-performance cars. The wobble or variable displacement compressor uses a wobble-plate mechanism for compression. This compressor type offers a balance between performance, efficiency, and size, which makes it suitable for varied automotive applications. While a screw compressor offers high efficiency and continuous functioning, a scroll compressor's quiet operation and temperature control make it preferable in passenger vehicles. Swash compressors' high-performance synchronization is suitable for commercial and high-performance vehicles, while the Wobble compressor's versatility lends itself to different applications.
Component: Development of updated compressor sections to meet the evolving automotive landscape
Unlike conventional compressors, the automotive e-compressor does not rely on a belt-driven engine. It offers a compact compressor structure, a subtle integration process, and efficiency, making it preferable for electric and hybrid vehicles. The inverter in an e-compressor is required to convert the vehicle's DC power to AC power required for the operation of the compressor. The motor is a pivotal component in the e-compressor, providing much-needed power. The motor's performance, durability, and weight often become deciding factors. Oil separators are crucial for removing oil from the refrigerant to ensure the longevity and efficiency of the compressor.
Sales Channel: High performance and optimized features of OEM e-compressors
Original equipment manufacturer (OEM) automotive e-compressors are those produced by the vehicle's original manufacturer. These components are built to maintain a consistent level of performance and durability as originally intended by the automaker. The biggest advantage of an OEM e-compressor is that it is precisely designed and calibrated to optimize the performance and lifespan of the vehicle. They usually come with a warranty and ensure seamless integration with other car parts. However, they are generally more expensive and may only be available from specialized technicians. Aftermarket e-compressors, on the other hand, are produced by third-party manufacturers. This category of e-compressors is made to fit and function within a broad range of vehicles, not just a single model or brand, as is the case with OEM compressors. While often less expensive than their OEM counterparts, aftermarket e-compressors provide considerable flexibility and availability, often featuring more advanced technologies or innovative designs not yet adopted by original manufacturers. However, quality can vary among providers, and not all aftermarket components will align perfectly with specific vehicle designs, potentially impacting performance and long-term durability.
Vehicle: Need for improved reliability of e-compressors in passenger vehicles
Commercial vehicles vitally serve various industries, from freight logistics to public transport. For these automobiles, durability, and reliability are of utmost concern, emphasizing the need for robust compressor systems. As a solution, the automotive e-compressor serves to minimize maintenance by eliminating belts and oil changes and enhancing fuel efficiency. Passenger vehicles are sensitive to consumer-driven factors such as aesthetic appeal, comfort, and driving experience. Thus, the demand for e-compressors that contribute to noise reduction, superior climate control, and energy conservation becomes significant in this sector. Commercial vehicles necessitate robustness and long-term reliability, whereas passenger vehicles demand superior comfort and driving experience. Both sectors lay emphasis on energy conservation and reduced maintenance offered by e-compressors.
Regional Insights
In the Americas, automotive compressors are extensively used in passenger vehicles and commercial trucks due to the extensive road network and high car ownership ratio. Production of automotive compressors in the Americas is concentrated mainly in the US and Mexico due to the presence of a large number of auto manufacturers and supportive industrial policies. Companies in the region are offering a diverse product portfolio and maintaining robust distribution networks. In Asia, particularly in countries such as India and China, with rising middle-class populations, the spike in electric automotive production and ownership has elevated the usage of automotive compressors. In Asia, Japan, China, and South Korea observe significant production, boosted by high local demand and established automobile industries. Asia's landscape is marked by competitive rivalry among key regional and international companies, which bank on innovation and competitive pricing. Europe has a relatively mature market defined by high technical standards and strong regulations, which drive the usage of high-quality, energy-efficient compressors. Europe's production is predominantly in Germany, France, and Italy, countries known for their long-standing automotive large-scale automotive industry and advanced technologies. Europe's landscape showcases a blend of traditional and new entrants, with companies focusing on constant research & development and high-quality products, with adherence to stringent European standards.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Automotive E-Compressor Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive E-Compressor Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Automotive E-Compressor Market, highlighting leading vendors and their innovative profiles. These include Anhui Dyne Automotive Air Conditioning Co. Ltd., BorgWarner Inc., Brose Fahrzeugteile SE & Co. KG, Continental AG by The Schaeffler Group, Denso Corporation, Faurecia, Garrett Motion Inc., Guchen Industry, Hanon Systems, Highly Marelli Holdings Co., Limited, Infineon Technologies AG, Ingersoll Rand Inc., MAHLE Aftermarket GmbH, Mitsubishi Heavy Industries, Ltd., Panasonic Automotive Systems Co., Ltd., Quanxing Machining Group Co., Ltd., Robert Bosch GmbH, Sanden Corporation, Schott AG, STMicroelectronics International N.V., Sullair by Hitachi Global Air Power US, LLC, TCCI Manufacturing, Toyota Industries Corporation, Valeo, Vikas Group, and ZF Friedrichshafen AG.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Automotive E-Compressor Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive E-Compressor Market?
3. What are the technology trends and regulatory frameworks in the Automotive E-Compressor Market?
4. What is the market share of the leading vendors in the Automotive E-Compressor Market?
5. Which modes and strategic moves are suitable for entering the Automotive E-Compressor Market?