Automotive Electric HVAC Compressor Market Size, Share, Value and Forecast 2032

Automotive Electric HVAC Compressor Market Insights

According to Zion Market Research, the global Automotive Electric HVAC Compressor Market was worth USD 15.18 Billion in 2023. The market is forecast to reach USD 85.65 Billion by 2032, growing at a compound annual growth rate (CAGR) of 21.2% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Automotive Electric HVAC Compressor Market industry over the next decade.

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Automotive Electric HVAC Compressor Market: Outlook

An electric HVAC compressor provides myriad advantages in comparision to conventional compressor. These benefits include less power usage, compact size, controlled speed of revolution, and noise-free functions in vehicles. Additionally, an electric HVAC compressor is a key part of overall operations of electric vehicle. Surging fuel costs along with rise in awareness associated with ecological protection is steering acceptance of electric automotive, thereby esclating popularity of electric HVAC compressors.

Automotive Electric HVAC Compressor Market: Growth Drivers

Surge in demand for light automotive along with globalization & urbanization in developing countries will drive market growth over forecast period. Furthermore, massive increase in manufacture of commercial & passenger vehicles will create lucrative avenues for automotive electric HVAC compressor industry over assessment timespan. In addition to this, increase in number of electric and premium automotive will embellish automotive electric HVAC compressor industry expansion during projected timeline. Nonetheless, huge initial prices & maintenance costs of product will inhibit growth of automotive electric HVAC compressor industry during 2021-2028.

Moreover, growing concerns pertaining to minimization of fuel emissions from vehicles will translate into massive demand for electric HVAC compressors in vehicles over the upcoming years. Apart from this, surge in sales of electric vehicles in European countries will spearhead expansion of automotive electric HVAC compressor market over next couple of years.

Automotive Electric HVAC Compressor Market: Report Scope

Automotive Electric HVAC Compressor Market: Regional Landscape

Asia Pacific Market Share To Witness Massive Surge Over 2024-2032

The growth of automotive electric HVAC compressor industry in APAC over anticipated timespan is due to large-scale acceptance of electric vehicles in countries such as China and India. In addition to this, presence of robust transportation infrastructure and electric vehicle charging workstations in countries of Asia Pacific will create new growth opportunities for regional industry over the assessment period. With reputed EV producers found in countries like Japan and South Korea along with steep increase in electric vehicle sales, the demand for electric HVAC compressors is anticipated to gain momentum across vehicle manufacturing sector in sub-continent. This, in turn, will boost regional market trends.

Automotive Electric HVAC Compressor Market: Competitive Landscape

Key players profiled in report include:

• Denso Corporation
• Valeo S.A.
• Hanon Systems
• Toyota Industries Corporation
• MAHLE GmbH
• Highly Marelli Holdings Co., Ltd.
• SANDEN Holdings Corporation

The global Automotive Electric HVAC Compressor Market is segmented as follows:

By Vehicle Type

• Passenger Vehicles
• Buses & Coaches
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Capacity

• Less Than 20CC
• 20CC-40CC
• 40CC-60CC
• More Than 60CC

By Drivetrain

• Plug-in Hybrid Electric Vehicles
• Hybrid Electric Vehicles
• Battery Electric Vehicles

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa