Press release
2025 Automotive Electric HVAC Compressor Industry Trends Report: Long-Term Outlook Through 2034
Automotive Electric HVAC Compressor
How Large Will the Automotive Electric HVAC Compressor Market Size By 2025?
The market size for automotive electric HVAC compressors has seen a substantial increase in the recent past. It's projected to expand from a size of $16.48 billion in 2024 to $20.24 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 22.8%. The remarkable growth during the historical period is a result of environmental legislations, standards of fuel efficiency, customer comfort requirements, globalization of vehicle production, and enhanced energy management.
How Big Is the Automotive Electric HVAC Compressor Market Size Expected to Grow by 2029?
The market for automotive electric HVAC compressors is anticipated to witness skyrocketing growth in the coming years, reaching a valuation of $44.52 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 21.8%. Several factors are contributing to its growth trajectory in the forecast period, such as vehicle electrification, autonomous cars, growing vehicle connectivity, improved energy efficiency, increased consumer demand for innovative features, and sustainability efforts. Key emerging trends for the forecast period encompass integration with thermal management systems, intelligent climate control, inclusion of cabin air quality sensors, thermal comfort in self-driving vehicles, and sophisticated refrigerant technologies.
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Which Key Market Drivers Powering Automotive Electric HVAC Compressor Market Expansion and Growth?
The acceleration in the uptake of electric vehicles (EVs) is projected to enhance the expansion of the automotive electric HVAC compressor market. The term electric vehicles denote those vehicles that are propelled by one or more electric motors, which operate using electricity. In the context of electric vehicles, an electric HVAC compressor is an essential component used to cool not just the vehicle's interior but also the other electronic equipment onboard that has a propensity to heat up. As a result, these compressors' significance is escalating for electric vehicles, leading to a boost in their manufacturing. As case in point, the World Economic Forum, an international Switzerland-based non-profit and lobbying organization, reported in October 2022 about the sales of approximately 4.3 million new battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) worldwide in the initial half of 2022. The sales of BEVs had risen by 75% year-on-year, and PHEVs by 37%. Moreover, as per the Times of India, an Indian English-language daily newspaper and digital news media organization, the retail sales of EVs in India hit 390,399 units within the first half (1H) of 2022. This signifies a year-over-year (YoY) development of 333%, a stark contrast to the 90,102 units that were sold during the equivalent timeframe in 2021. Thus, the escalating usage of EVs is propelling the growth of the automotive electric HVAC compressor market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Electric HVAC Compressor Market?
The key trend gaining traction in the automotive electric HVAC compressor market is product innovation. Top players in the market are concentrating on introducing innovative products tailored to consumer needs. For example, TCCI Manufacturing, a compressor manufacturer based in the US, rolled out an 850V electric compressor for the commercial transport market in January 2022. This 850V compressor, available in sizes from 34cc up to 120cc, ensures efficient cabin and battery cooling for commercial electronic vehicles, providing the longest lifespan and fastest charging in the market.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Automotive Electric HVAC Compressor Market?
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.
Which are the Top Profitable Regional Markets for the Automotive Electric HVAC Compressor Industry?
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
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