Published Date: 14-Jul-2021
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According to a new report Global Automotive Electric HVAC Compressor Market, published by KBV research, The Global Automotive Electric HVAC Compressor Market size is expected to reach $30.4 billion by 2027, rising at a market growth of 19.4% CAGR during the forecast period.
The 20-40 CC segment would display a maximum growth rate during the forecast period. The massive adoption of electric compressors in different types of vehicles including passenger vehicles and light commercial vehicles is responsible for the growth of this segment. To some extent, the compressors operating in this cooling range are able to tolerate the heat load of small vehicles and of medium vehicles.
The Battery Electric Vehicle (BEV) segment would showcase a major CAGR during the forecast period. The increasing awareness about the environment among the people, which is motivating them to choose electric vehicles is the major factor boosting the growth and demand of this segment. Though, the decision to choose battery electric vehicles is experiencing a dual blow of huge costs and range anxiety among drivers; costs would specifically decline as the increasing popularity and demand for battery electric vehicles motivate automobile manufacturers toward mass production, hence boosting the adoption of BEVs.
The Asia Pacific market acquired the largest revenue share in 2020 due to the high adoption rate of electric vehicles in China. China registered above half of the worldwide electric compressor sales in 2020. The constant development of EV charging and transport infrastructure in emerging nations across the Asia Pacific would augment the sales of electric vehicles and eventually the demand for electric compressors in the next few years.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Denso Corporation, Toyota Industries Corporation, Valeo SA, Aptiv PLC, Panasonic Corporation, Brose Fahrzeugteile SE & Co. KG, BorgWarner, Inc., Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.), Mahle GmbH (Mahle Stiftung GmbH), and Sanden Holdings Corporation.
By Vehicle Type
By Cooling Capacity
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