The automotive e-compressor global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive E-Compressor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive e-compressor market size has grown exponentially in recent years. It will grow from $2.02 billion in 2023 to $2.48 billion in 2024 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to regulatory compliance, consumer demand, rise in demand for fuel-efficient solutions, automotive industry growth, and rise in demand for environment-friendly.
The automotive e-compressor market size is expected to see exponential growth in the next few years. It will grow to $5.70 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The growth in the forecast period can be attributed to electric vehicle expansion, advanced driver-assistance systems (adas), urbanization trends, global economic conditions, material innovations, supply chain optimization, and digital transformation. Major trends in the forecast period include biodegradable materials, 3D printing, augmented reality (AR) in design, predictive maintenance, energy efficiency, and innovative design.
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Scope Of Automotive E-Compressor Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive E-Compressor Market Overview
Market Drivers –
The rising demand for electric vehicles is expected to propel the growth of the automotive e-compressor market going forward. Electric vehicles (EVs) are automobiles propelled by electric motors using electrical energy stored in batteries or another energy storage device. The demand for electric cars is due to people’s awareness of environmental issues, improvements in battery technology, government incentives, and rising fuel prices. Automotive e-compressors are used in electric vehicles to provide essential climate control and thermal management functions, contributing to the energy efficiency, comfort, and overall performance of EVs. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, sales of electric vehicles increased by 3.5 million in 2023 compared to 2022, a 35% annual rise. Therefore, demand for electric vehicles is driving the growth of the automotive e-compressor market.
Market Trends –
Major companies operating in the automotive e-compressors market are focused on developing advanced products such as electric air compressors to enhance vehicle efficiency, reduce emissions, and support the shift towards cleaner and more sustainable transportation solutions. An electric air compressor is a machine powered by electricity that compresses air by reducing its volume, making it suitable for operating tools, inflating tires, and supplying air to fuel cells. For instance, in April 2023, ZF’s Commercial Vehicle Solutions (CVS), an India-based motor vehicle parts manufacturing company, launched a new high-speed electric air compressor for fuel cells. It is designed specifically for fuel cell applications and aims to deliver a reliable air supply critical for high-performance fuel cell systems. The compressor boasts an oil-free, high-speed operation that enhances efficiency and power density. Its modular and scalable design ensures versatility across various vehicle platforms, emphasizing durability even in heavy-duty commercial applications.
The automotive e-compressor market covered in this report is segmented –
1) By Product Type: Variable E-Compressor, Displacement E-Compressor
2) By Propulsion Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Vehicle (PHEV), Fuel-Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV)
3) By Technology Type: Variable Frequency Drive (VFD), Fixed Speed
4) By Capacity: Small, Medium, Large
5) By Application: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
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Regional Insights –
Asia-Pacific was the largest region in the automotive e-compressor market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive e-compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive e-compressor market are Robert Bosch GmbH, DENSO CORPORATION, Continental AG, Mitsubishi Electric Corporation, Honeywell International Inc., 3M Company, Johnson Controls Inc., TOYOTA INDUSTRIES CORPORATION, Valeo, NIDEC CORPORATION, MAHLE GmbH, BorgWarner Inc., Hanon Systems, Brose Fahrzeugteile SE & Co. KG, SANDEN CORPORATION, Tecumseh Products Company LLC, Subros Limited, Red Dot Corporation, TCCI Manufacturing, Delphi Technologies
Table of Contents
1. Executive Summary
2. Automotive E-Compressor Market Report Structure
3. Automotive E-Compressor Market Trends And Strategies
4. Automotive E-Compressor Market – Macro Economic Scenario
5. Global Automotive E-Compressor Market Size and Growth
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32. Global Automotive E-Compressor Market Competitive Benchmarking
33. Global Automotive E-Compressor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive E-Compressor Market
35. Automotive E-Compressor Market Future Outlook and Potential Analysis
36. Appendix
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