Wilmington, Delaware, United States, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive e-compressor market stood at US$ 1.93 billion in 2021 and is projected to reach US$ 26.4 billion in 2031. The global automotive e-compressor market is anticipated to expand at a CAGR of 29.91% between 2021 and 2031.
The ever-increasing number of road vehicles drives a substantial demand for high-quality automotive e-compressors. These innovative e-compressors are pivotal in enhancing vehicle performance and, notably, in reducing harmful emissions. As the global population's disposable income continues to rise, reflecting an improved standard of living, there has been a noticeable uptick in automotive vehicle sales. This increase in automobile sales translates to a growing need for automotive e-compressors. Moreover, governmental bodies and organizations worldwide actively promote increased vehicle production to cater to this surging demand.
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The commitment to environmental preservation is a crucial driver for the automotive e-compressor market. Numerous authorities and organizations are wholeheartedly dedicated to reducing greenhouse gas emissions, and their efforts have led to implementing stringent regulations and norms to curb emissions. Countries such as China and India, among others, have embraced these norms to actively work towards reducing greenhouse gas emissions. A noteworthy trend bolstering the automotive e-compressor market is the rapid popularity and adoption of electric vehicles. These electric vehicles often rely on the autonomous operation of automotive e-compressors to optimize their performance and minimize emissions.
Global Automotive E-compressor Market: Key Players
- Continental has significantly expanded its investment in electric mobility solutions. The company is developing technologies for electric vehicles (EVs) and plug-in hybrids. They are actively involved in creating advanced power electronics, energy management systems, and more to enhance the efficiency and range of EVs.
- Delphi Plc has made substantial investments in electrification technologies. Their expertise lies in electric propulsion systems, power electronics, and vehicle connectivity solutions. The company is actively contributing to transforming the automotive industry towards cleaner and more sustainable transportation options.
Competitive landscape:
- Brose Fahrzeugteile GmbH & Co. Kg
- Calsonic Kansei Corporation
- Continental AG
- Delphi Plc
- Denso Corporation
- Hanon Systems
- Hella
- Mahle Behr GmbH
- Panasonic Corporation
- Robert Bosch GmbH
- Sanden Corporation
- Toyota Industries Corporation
- Valeo S.A.
- WABCO
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Key Takeaways of Market Report
- Global automotive e-compressor market to generate absolute dollar opportunity worth US$ 26.4 billion until 2031.
- Global automotive e-compressor market from 2021 to 2031 is 29.91%
- The global automotive e-compressor market is valued at US$ 1.93 billion in 2021.
- The global automotive e-compressor market stood at US$ 1.5 billion in 2020.
Global Automotive E-compressor Market: Growth Drivers
- The global automotive e-compressor market boasts a lucrative presence of market contributors spanning the globe, and this very presence is instrumental in driving the market's growth. The competitive landscape in the automotive e-compressor industry is continually evolving, with intense competition among market players serving as a notable growth catalyst.
- Among the top players in this competitive arena, the advantage often lies with those who offer an extensive array of innovative products. This innovation-driven approach has given some industry leaders an edge over their competitors. However, the market is not immune to the rise of local players, which are steadily emerging and adding to the intensity of competition within the global automotive e-compressor market.
- The global automotive e-compressor market is experiencing surging demand for various reasons. With a growing number of vehicles on the road, there is an ever-increasing need for high-quality automotive e-compressors. These components contribute significantly to improving the overall performance of cars, mainly by reducing harmful emissions. The critical role played by e-compressors in curbing pollution and enhancing vehicle efficiency is prompting a remarkable rise in their demand.
Global Automotive E-compressor Market: Regional Landscape
- Governments in various countries across the Asia Pacific region have demonstrated their commitment to fostering the growth of the automotive e-compressor market. These initiatives range from environmental regulations and standards to financial incentives aimed at encouraging the adoption of eco-friendly vehicles. The market continues to benefit from these supportive government actions.
- The ASEAN region is witnessing a substantial increase in the sales of both passenger cars and commercial vehicles. This boost in vehicle sales is attributed to the rising disposable income levels and economic growth in the ASEAN countries. As the demand for cars grows steadily, the market for automotive e-compressors in Asia Pacific is also anticipated to surge during the forecast period.
Global Automotive E-compressor Market: Segmentation
Sales Channel
- OEM
- Aftermarket
Type
- Swash
- Wobble
- Screw
- Scroll
- Others
Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicles
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Buses & Coaches
Drivetrain
- ICE Vehicles
- Gasoline
- Diesel
- Electric Vehicle
- Battery Electric Vehicle
- Hybrid/ Plug-in Electric Vehicle
Cooling Capacity
- Less than 20 CC
- 20 to 40 CC
- 40 to 60 CC
- More than 60 CC
Component
- Compressor Section
- Motor
- Inverter
- Oil Separator
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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