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Emerging Trends Influencing The Growth Of The Automotive Electric HVAC Compressor Market:Product Innovation Drives The Automotive Electric HVAC Compressor Market
Automotive Electric HVAC Compressor
How Big Is the Automotive Electric HVAC Compressor Market Size Expected to Be by 2034?
In recent years, the automotive electric HVAC compressor market has seen significant expansion. The market size is expected to rise from $16.48 billion in 2024 to $20.24 billion in 2025, featuring a compound annual growth rate (CAGR) of 22.8%. The surge in growth during the historical period is driven by factors such as environmental regulations, fuel efficiency standards, increased consumer desire for comfort, the global spread of automotive manufacturing, and enhanced energy management.
Anticipations are high for a substantial expansion in the automotive electric HVAC compressor market in the subsequent years. Predicted to soar to a valuation of $44.52 billion by 2029, the market will experience an annual compound growth rate of 21.8%. Various factors contribute to this predicted growth, including the electrification of vehicles, the emergence of self-driving vehicles, improved vehicle connectivity, enhanced energy efficiency, the customer desire for advanced features, and initiatives for sustainability. Key trends expected during this period encompass system integration with thermal management, intelligent climate control, incorporation of cabin air quality sensors, thermal comfort in self-driving vehicles, and sophisticated refrigerant technologies.
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What Are the Emerging Segments Within the Automotive Electric HVAC Compressor Market?
The automotive electric hvac compressor market covered in this report is segmented -
1) By Product Type: Scroll, Screw, Swash, Wobble
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Buses And Coaches
3) By Cooling Capacity: Less Than 20 CC, 20-40 CC, 40-60 CC, More Than 60 CC
4) By Drivetrain: Plug-In Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV)
Subsegments:
1) By Scroll: Single Scroll Compressors, Dual Scroll Compressors
2) By Screw: Single-Screw Compressors, Twin-Screw Compressors
3) By Swash Plate: Fixed Displacement Swash Compressors, Variable Displacement Swash Compressors
4) By Wobble: Fixed Displacement Wobble Compressors, Variable Displacement Wobble Compressors
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What Long-Term Drivers Are Shaping Automotive Electric HVAC Compressor Market Trends?
The automotive electric HVAC compressor market is projected to expand in response to the escalating acceptance of electric vehicles (EVs). Electric vehicles, which function on power via one or more electric motors, necessitate the use of an electric HVAC compressor to maintain the temperature not just in the vehicle's interior but also for the other electronic components that may overheat. As a result, there is a rising demand and subsequent surge in production rates for these compressors, particularly for electric vehicles. For instance, data from the World Economic Forum in Switzerland reported that around 4.3 million new battery-operated electric vehicles (BEVs) as well as plug-in hybrids (PHEVs) were sold worldwide between January to June in 2022. The sales of BEVs saw a year-to-year increase of 75%, while PHEVs saw a 37% increase. According to the Times of India, the first six months of 2022 witnessed retail sales of 390,399 units of EVs, marking a 333% year-on-year increase versus the 90,102 units sold during the same timeframe the previous year. Given these facts, the burgeoning demand for EVs is propelling the growth of the automotive electric HVAC compressor market.
Who Are the Top Competitors in Key Automotive Electric HVAC Compressor Market Segments?
Major companies operating in the automotive electric hvac compressor market include Denso Corporation, Toyota Industries Corporation, Valeo SA, MAHLE GmbH, Robert Bosch GmbH, Highly Marelli Holdings Co. Ltd., Brose Fahrzeugteile SE & Co. KG, Borg Warner Inc., Hanon Systems, Aptiv plc, Mitsubishi Heavy Industries Ltd., Estra Automotive Systems Co. Ltd., Hella KGaA Hueck & Co., Subros Ltd., Michigan Automotive Compressor Inc., Shanghai Highly Group Co. Ltd., Continental AG, Sanden Holdings Corporation, Behr Hella Service GmbH, Calsonic Kansei Corporation, Delphi Technologies plc, Panasonic Corporation, Johnson Controls International plc, Modine Manufacturing Company, Xiezhong International Holdings Limited, Red Dot Corporation, Eberspaecher Climate Control Systems GmbH & Co. KG.
What Automotive Electric HVAC Compressor Market Trends Are Gaining Traction Across Different Segments?
The primary trend that has gained momentum in the automotive electric HVAC compressor market is the development of novel products. With the aim to cater to consumer needs, leading companies in this market are prioritizing the launch of unique products. For instance, in the commercial transport market, TCCI Manufacturing, a compressor manufacturer based in the U.S., unveiled an 850V electric compressor in January 2022. Offered in sizes 34cc/46cc/60cc/120cc, this compressor is engineered to provide superior cabin and battery cooling for commercial vehicles powered by batteries. Furthermore, it sets the industry standard for longevity and fastest charging.
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Which Regions Are Becoming Hubs for Automotive Electric HVAC Compressor Market Innovation?
Asia-Pacific was the largest region in the automotive electric HVAC compressor in 2024.Europe was the second largest region in the automotive electric HVAC compressor market share. The regions covered in the automotive electric HVAC compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Electric HVAC Compressor Market?
2. What is the CAGR expected in the Automotive Electric HVAC Compressor Market?
3. What Are the Key Innovations Transforming the Automotive Electric HVAC Compressor Industry?
4. Which Region Is Leading the Automotive Electric HVAC Compressor Market?
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