Automotive Electric HVAC Compressor Market Sales Report 2022 - 2030

Ameco Research Analyst anticipated that the global automotive electric HVAC compressor market will increase at a CAGR of more than 22% throughout the forecast period, with market size of over US$ 64 Bn by 2030.

HVAC (Heating, Ventilation, and Air Conditioning) is the technology used in automobiles to maintain a comfortable temperature and internal environment. The temperature inside the car is modified to a degree in relation to the ambient temperature. As a result, HVAC helps to keep interior temperatures acceptable, allowing drivers to stay in their vehicles for longer periods of time. The usage of air conditioners and other electronic components in electric vehicles has a major impact on cruising distance. In terms of passenger cars, the first e-compressors were fitted in Ford's Focus electric vehicle in 2012. Denso is the world's largest original equipment manufacturer of air conditioning compressors. According to the company, its thermal management solutions, which include engine cooling, are installed as standard equipment in over 25% of European cars.

Request for a sample of this premium research report @ https://www.amecoresearch.com/sample/276636

Market Dynamics

The increasing use of air conditioning in passenger vehicles in developing countries is likely to drive market demand. Furthermore, car makers are always discovering new ways to improve the fuel efficiency of compressors as a result of a considerable increase in environmental requirements. This reduces emissions and helps to combat global warming. The increasing relevance of cars such as electric and hybrid electric vehicles is driving up the number of new electric vehicle models in Europe, North America, Japan, and China, raising demand for AC compressors.

The growth of the market for automotive electric HVAC systems will be directly proportional to the growth of electric vehicle sales and development. The growth of the sectors that produce automotive components and systems will be fueled by new government and other investor initiatives that provide incentives for the production of electric vehicles.

For example, in June 2020, Germany announced a EUR 130 billion stimulus package, with around EUR 8 billion dedicated to electric vehicle sales and manufacturing. Due to the COVID-19 pandemic, China's subsidy scheme for the purchase of battery EV and PHEV has been extended until 2022 in order to help the automobile sector.

In recent years, rising temperatures in the atmosphere have fueled customer demand for air conditioning in automobiles to create a more comfortable vehicle interior climate. Furthermore, rising attempts by vehicle makers to include sophisticated controls in automobiles, as well as increased R&D investments, would boost demand for automotive AC compressors.

COVID-19 Impact on the Global Automotive Electric HVAC Compressor Market

In China, EV sales in 2020 have been steadily declining for the past six months. The elimination of EV subsidies and the threat of a pandemic are the main reasons behind this. The dual credit programme, which is intended to replace the subsidy policy, is projected to be the key driver of future Chinese EV sales. In 2025, electric vehicle sales are predicted to account for around 25% of all new automobile sales, and policy is expected to play a key part in this.

Major Players

The top players offered in the report include vendors Denso group, Estra Automotive Systems Co, Limited, Hanon Systems, Hella GmbH and Co., MAHLE GmbH, Mitsubishi Heavy Industries Ltd, Marelli Holdings Co. Ltd, KG, Michigan Automotive Compressor, Toyota Industries Corporation, Subros Ltd, and Valeo SA.

Global Automotive Electric HVAC Compressor Market Classification

The automotive electric HVAC compressor market is divided into three categories: vehicle type, product type, drivetrain type, and geography. The vehicle type segment is categorized into passenger cars, heavy commercial vehicle (HCV), and light commercial vehicle (LCV). Among products, the passenger vehicle segment accounted for the majority of the share in 2021. The product type segment is split into scroll, screw, swash, and wobble. The drivetrain type segment is divided into plug-in hybrid electric vehicle (PHEV), battery electric vehicles (BEV), and hybrid electric vehicle (HEV). The battery electric vehicle (BEV) segment accounted for the largest market share in 2021. The increase can be ascribed to people's growing environmental awareness, which encourages them to choose electric automobiles.

To receive personalized service, please share your research needs here@ https://www.amecoresearch.com/enquiry-before-buy/276636

Regional Stance

North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global automotive electric HVAC compressor market. Asia-Pacific region is one of the leading segments in the global automotive electric HVAC compressor market. In 2020, China was responsible for more than half of all global electric compressor sales. Over the projection period, the ongoing development of EV charging and transportation infrastructure in developing nations across Asia Pacific is likely to enhance electric vehicle sales and, as a result, demand for electric compressors. Due to the presence of multiple car OEMs in the region, Europe held the significant market share in 2020. Furthermore, in line with the EU's tough greenhouse gas emission laws, EV adoption is increasing dramatically across Europe.

Buy this premium research report@ https://www.amecoresearch.com/buy/276636

201, Vaidehi-Saaket, Baner - Pashan Link Rd, Pashan, Pune, Maharashtra 411021

The complete information about our alliance publishers and the business verticals they cater to helps us in appropriately responding to our client requirements and identifying the potential opportunities in the market and suggest the research that can best suit client's requirement. Our comprehensive list of research reports boasts a complete collection of database casing almost every market category and sub-category.

This release was published on openPR.