Automotive Electric HVAC Compressor Industry Overview
The global automotive electric HVAC compressor market size was valued at USD 9.36 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.7% from 2021 to 2028.
An electric compressor is independent of the vehicle engine and is tasked with the dual role of cooling the cabin and the battery pack and protecting the battery from overheating to prevent any breakdown of the vehicle. An electric compressor boasts lesser mechanical parts and hence facilitates quieter and cleaner operations due to lower oil carryover. All these advantages aid in improving the overall efficiency of the vehicle, given that electric compressors are entirely independent of the vehicle engine, thereby driving the demand for these compressors.
Gather more insights about the market drivers, restrains and growth of the Global Automotive Electric HVAC Compressor Market
Multi-functionality features and lower energy consumption are particularly expected electric vehicle OEMs to adopt electric compressors on a large scale. However, although an electric compressor serves as a critical component of an electric vehicle, the demand for electric compressors relies entirely on the demand for electric vehicles. As such, any increase in the adoption of electric vehicles would directly translate into a growing demand for electric compressors. The outbreak of the COVID-19 pandemic has taken its toll on several industries and industry verticals and the automotive industry is no exception to that.
The air conditioning system accounts for 20% of the total energy consumption of a vehicle and hence affects the vehicle’s acceleration and range, among other aspects. An electric compressor can reduce this ratio, thereby helping in improving the overall range and efficiency of the electric vehicle. Electric compressors are equipped with built-in revolution speed control, which can be varied accordingly to reduce energy consumption. Electric compressors deliver high performance at low revolutions while also extending the life of the lithium-ion battery. The energy saved can in turn be used to extend the range of the vehicle.
Meanwhile, the hermetic construction of an electric compressor helps in ensuring that no refrigerant leaks and reacts with the air outside. However, maintenance is equally crucial for electric compressors. The electric compressors and air conditioning systems of electric vehicles continue to evolve in line with the advances in technology. These advances would be mostly aimed at reducing the energy consumption of compressors. As such, future systems may be designed with an integrated approach to make the compressors compact and feature predictive control functions to improve energy efficiency. Anticipating these new systems to materialize, workshops and owners would also have to constantly develop their expertise in maintaining electric compressors of the future.
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Automotive Electric HVAC Compressor Market Segmentation
Grand View Research has segmented the global automotive electric HVAC compressor market based on cooling capacity, vehicle type, drivetrain, and region:
Automotive Electric HVAC Compressor Cooling Capacity Outlook (Revenue, USD Million, 2017 - 2028)
- Less Than 20 CC
- 20-40 CC
- 40-60 CC
- More than 60 CC
Automotive Electric HVAC Compressor Vehicle Type Outlook (Revenue, USD Million, 2017 - 2028)
- Passenger Vehicle
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Buses Coaches
Automotive Electric HVAC Compressor Drivetrain Outlook (Revenue, USD Million, 2017 - 2028)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
Automotive Electric HVAC Compressor Region Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Market Share Insights
- September 2020: Marelli Corporation signed an agreement with Shanghai Highly (Group) Co. Ltd; to form a joint venture called Highly Marelli Holdings Co., Ltd. The joint venture was supposed to focus specifically on the electrification of compressors, HVAC equipment, and electric-driven compressor (EDC) systems.
Key Companies profiled:
Some of the prominent players operating in the global automotive electric HVAC compressor market are:
- Denso Corporation
- Hanon Systems
- MAHLE GmbH
- SANDEN Holdings Corporation
- Toyota Industries Corporation
- Highly Marelli Holdings Co., Ltd.
- Valeo S.A.
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