The Automotive E-Compressor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive E-Compressor Global Market Report 2024, 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
- Automotive E-Compressor Market Characteristics
- Automotive E-Compressor Market Trends And Strategies
- Automotive E-Compressor Market – Macro Economic Scenario
- Global Automotive E-Compressor Market Size and Growth
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32. Global Automotive E-Compressor Market Competitive Benchmarking - Global Automotive E-Compressor Market Competitive Dashboard
- Key Mergers And Acquisitions In The Automotive E-Compressor Market
- Automotive E-Compressor Market Future Outlook and Potential Analysis
- Appendix
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