New York, Aug. 31, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Automotive Electric HVAC Compressor Market By Vehicle Type, By Drivetrain, By Cooling Capacity, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06131407/?utm_source=GNW
In an electric vehicle, the compressor is required to perform the cooling of the complete cabin and the battery pack.
Electric compressor is beneficial in protecting the battery from overheating and eventually the vehicle from collapsing. Therefore, an electric HVAC compressor is considered as a crucial part of the complete functioning of an electric vehicle. The adoption of electric vehicles has been fueled by the growing fuel costs along with the rising awareness regarding environmental protection, thereby augmenting the demand for electric HVAC compressors.
Though, the growth of the automotive electric HVAC compressor market would be hampered by the huge initial costs and maintenance costs related to the electric HVAC compressors. The implementation of electric HVAC compressors includes heavy-duty electric wiring, which eventually surges the overall cost of the system. Repairs and maintenance of electric compressors is also a complicated task needing optimum level expertise, hence increasing the overall cost.
In addition to it, the demand for electric vehicles is directly proportional to the sales of electric compressors. Though, the sales of electric vehicles are going through a decline phase due to the huge cost and range anxiety related to electric vehicles. However, the consumers would be encouraged to choose electric vehicles due to the factors like technological advancements, the introduction of new products, and the constant implementation of electric chargers and charging stations, hence boosting the demand for electric HVAC compressors during the forecast period.
The outbreak of the COVID-19 pandemic has adversely affected the global automotive industry. In addition to it, it is expected that the automotive sector will require at least 4 years to completely recover and run according to the regular business norms. Such possibilities are acting as barriers for stakeholders in the automotive AC compressor market. Players operating in the global automotive AC compressor market are embracing the plug-and-play method in order to adapt to the gradual growth in the global industry. Car manufacturers are forced to enhance their focus on electric vehicles (EV) due to the changing demand and supply scenario. This is because customers are getting more aware of their expenditures and willing to make a long-term investment to procure different kinds of goods and commodities.
Vehicle Type Outlook
Based on Vehicle Type, the market is segmented into Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV) and Others. In 2020, the passenger vehicle segment obtained the maximum revenue share of the automotive electric HVAC compressor market. Electric compressors are highly deployed to enhance the range of passenger vehicles, manufacturing of which is increasing substantially.
Based on Drivetrain, the market is segmented into Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV) and Battery Electric Vehicles (BEV). The hybrid electric vehicles segment garnered the highest revenue share of the global automotive electric HVAC market because hybrid electric vehicles (HEVs) provide a dual fuel option. Electric compressors are independent of the engine of the vehicle and help in achieving higher fuel efficiency. Due to this, the deployment of electric compressors in HEVs would gain high popularity in the next few years.
Cooling Capacity Outlook
Based on Cooling Capacity, the market is segmented into 20-40 CC, Less Than 20 CC, 40-60 CC and Others. In 2020, the less than 20 CC segment procured the second-highest share. This is credited to the installation of these compressors in smaller vehicles. However, compressors that belong to this segment are very small to be deployed in commercial vehicles because of their lesser heat-absorbing capacity. But their deployment would surge due to the increasing popularity of smaller vehicles.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe obtained the second-highest revenue share in 2020 due to the existence of various automotive OEMs in the region. In addition to it, the acceptance of electric vehicles is increasing substantially across Europe on account of the strict greenhouse gas emission regulations formulated by the EU.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Strategies deployed in Automotive Electric HVAC Compressor Market
Apr-2021: Sanden Huayu Automotive Air-Conditioning joined hands with ROHM Semiconductor. This collaboration aims to strengthen their collaborative partnership and accelerate technical innovation in the automotive industry by offering power solutions, which fulfill both customer requirements and market trends.
Apr-2021: Toyota Industries Corporation teamed up with Siemens, a German multinational conglomerate company. This collaboration aims to make artificial intelligence (AI), which can forecast product defects in aluminum die casting, a major process in automotive air conditioning compressor production. It further enhances quality and productivity by using the AI application in Industrial Edge, the Siemens edge computing platform for the industry.
Mar-2021: Hanon Systems expanded its global footprint by building its fifth plant in Korea. The facility would make a variety of solutions that includes heat pump modules and coolant valve assemblies to complement electric vehicles for the Genesis brand & Ioniq 5 model of the Hyundai Motor Group.
Dec-2019: Denso launched its new full electrical rooftop HVAC system with two combined electrical compressors, made for electric buses in 9 meters plus segment. This product is developed especially for Asian markets; another variant with a more efficient heat pump system would also be showcased for the European and North American users.
Nov-2019: Valeo released an all-electric, roof-mounted, zero-emission R744 (CO2) HVAC unit with a heat pump function. It is developed for buses with alternative drives. This fully automatic, energy-efficient system chooses the suitable operating mode, which changes from air conditioning to heat pump or de-icing.
Oct-2018: MAHLE expanded its geographical footprint by establishing its first production plant for electric compressors. This plant would manufacture e-compressors for global automobile manufacturers at the production location in Balassagyarmat/Hungary and already got various customer projects.
Aug-2018: BorgWarner came into collaboration with NIO, a Chinese multinational automobile manufacturer. Under this collaboration, BorgWarner would supply its improved high-voltage positive temperature coefficient (PTC) cabin heating technology for the new pure-electric ES8 SUV from NIO. The improved heating solution instantly warms the cabin & defrosts windows for increased comfort & driving visibility.
Jul-2018: Sanden Huayu Automotive Air Conditioning expanded its production capability by establishing a new plant in Pudong New Area, Shanghai. Huayu Sanden has continued its compressor manufacturing & development for the domestic users in China at its Shilong plant.
Jan-2018: Hanon Systems partnered with FAWER Automotive Parts Limited Company to set up its second joint venture with the company. Together, the companies aimed to establish a joint venture, under which Hanon Systems holds majority stakes at 55 percent and FAWER holds the remaining 45 percent. This new joint venture named FAWER Hanon Automotive Components Co., Ltd. and at the beginning produces electric compressors along with fluid transport components, and exhaust gas recirculation modules & parts from a manufacturing site in Changchun, China.
Sep-2017: BorgWarner collaborated with a globally known EV automaker. Under this collaboration, the company would supply its improved high-voltage positive temperature coefficient (PTC) cabin heating technology for the EV automaker. BorgWarner’s technology features more effective usage of energy and also offering fast cabin heating.
Scope of the Study
Market Segments covered in the Report:
By Vehicle Type
• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PHEV)
• Battery Electric Vehicles (BEV)
By Cooling Capacity
• 20-40 CC
• Less Than 20 CC
• 40-60 CC
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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)
• Sanden Holdings Corporation
• Exhaustive coverage
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Read the full report: https://www.reportlinker.com/p06131407/?utm_source=GNW
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