Automotive E-Compressor Market

Auto Companies Enter Alternative Dispute Resolutions with Creditors amidst COVID-19 Crisis

Revenues of automotive companies are experiencing a slump and profits are shrinking, as consumer retrench and exports have plunged during the COVID-19 pandemic. Japan-based auto supplier Sanden Holdings filed for a debt restructuring with its creditors, owing to falling sales during the pandemic. Companies in the automotive e-compressor market are entering alternative dispute resolutions to reassess and restructure debt.

The analysts at the Transparency Market Research (TMR) opine that automotive sales are expected to surge during the first and second quarter of 2021, as uncertainties pertaining to demand and supply will begin to diminish. During such challenging times, companies in the automotive e-compressor market are holding discussions with their creditors to implement business revitalization plans.

Request a sample to get extensive insights into the Automotive E-Compressor Market

Next-gen Automotive E-Compressors Deliver Superior Power to Mass and Package Ratio

The automotive e-compressor market is slated to register an explosive CAGR of ~33% during the forecast period. This signals that the automotive industry is witnessing a significant change in terms of technological innovations. For instance, MAHLE GmbH— a Germany-based automotive parts manufacturer, has introduced its next-gen automotive e-compressor, which is enabling consumer acceptance of e-mobility solutions.

Many individuals are still hesitant to purchase electric vehicles (EVs), owing to the lack of knowledge about its charging and fueling infrastructure. Hence, companies in the automotive e-compressor market are introducing high-performance compressors that deliver superior power to mass and package ratio. Supercharging attributes of automotive e-compressors are grabbing consumer attention. Convenient charging attributes are also boosting EV sales and translating into business opportunities.

High Quality Materials Optimize Designs in E-Compressors

The conditions in road vehicles are extreme. This is creating challenges for companies in the automotive e-compressor market, since companies need to address vibrations, environmental factors, and temperature fluctuations. In order to overcome these challenges, manufacturers are increasing their R&D muscle in high quality materials to optimize designs in e-compressors. For instance, Schott AG— a Germany-based specialist in glass and glass ceramics is increasing efforts to meet demanding insulation needs of automotive companies.

Players in the automotive e-compressor market are collaborating with suppliers who have high level of expertise in connecting glass to metal. This expertise is creating space for insulation solutions in e-compressors so that the terminals can withstand various refrigerants in harsh conditions.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Controlled Revolution Speed in Compressors Facilitates Energy Savings

The steady growth in the adoption of hybrid and electric vehicles is acting as a key driver for the automotive e-compressor market. As such, the market is predicted for a global production output of over 122.5 million units by the end of 2030. Companies such as Denso, a Japan-based automotive components manufacturer, is releasing literary content on online news outlets to educate workshop owners and stakeholders in the value chain about exponential growth in terms of revenue of EVs. This is necessary since A/C systems in hybrid and electric cars are different from conventional gasoline and diesel vehicles.

Fuel saving benefits of automotive e-compressors are attracting consumer attention. Companies in the automotive e-compressor market are capitalizing on this trend to deploy controlled revolution speed for achieving fuel savings.

Independent Operation of E-Compressors Boosting Sales of Electric Vehicles

Companies in the automotive e-compressor market are developing compact components to enable energy savings. Such attributes are being preferred by automotive companies, as energy savings extend the life of lithium-ion batteries. Companies in the automotive e-compressor market are increasing their production in systems that continue A/C running, even when the hybrid or electric car engine is idle or switched off.

The independent operation of automotive e-compressors is boosting sales of electric vehicles. Manufacturers are developing systems that create less noise whilst retaining the same cooling capacity. The growing awareness about the right selection of oil is crucial, as this oil protects the electric motor, which is connected to the automotive e-compressor.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Automotive E-Compressor Market

Automotive E-Compressor Market: Overview

  • The global automotive e-compressor market is anticipated to expand at a CAGR of ~33% during the forecast period, owing to the growing adoption of electric vehicles (EVs), favorable government policies promoting EVs, and technological developments that are boosting production and sales of EVs, thus replacing conventional I.C. engine powered vehicles
  • According to the Global EV Outlook 2019 report of International Energy Agency, sale of electric cars witnessed 40% year-on-year growth in 2019 with a total sale of 2.1 million electric cars worldwide. This scenario is eventually driving the automotive e-compressor market.
  • Compressors used in HVAC systems of conventional I.C. engine vehicles are operated through a belt drive that is powered by the engines. However, electric vehicles do not have an engine, or have a smaller engine, which creates a demand for alternate compressor solutions. Therefore, electric vehicle manufacturers are adopting e-compressors. For instance, BMW AG’s ActiveHybrid 7 car uses e-compressor from Hanon Systems.

Drivers of Automotive E-Compressor Market

  • Transportation is a leading cause for rise in levels of pollution worldwide. Tailpipe emissions such as carbon dioxide, nitrogen oxides, hydrocarbons, carbon monoxide, and sulfur dioxide cause respiratory illnesses, heart conditions, and mental illness, which results in increased healthcare burden.
  • The European Environment Agency stated in a report of 2018 that emissions from vehicles have worsened air quality levels across Europe, resulting in more than US$ 80 Bn of healthcare costs. The traditional belt-driven compressor increases the workload of the engine, which, in turn, reduces the performance and efficiency of the vehicle, thus resulting in higher emissions.
  • These concerns prompted people and automobile manufacturers to adopt fuel efficient and environmental solutions. E-compressors are powered by a separate electric motor that reduces the workload of the engine and subsequently, vehicle emissions. Low oil carryover of the e-compressor provides cleaner air in the cabin and facilitates fast and simple installation, independent from the vehicle’s engine. Thus, an increase in the demand for fuel-efficient and environment-friendly solutions is propelling the global automotive e-compressor market.

Challenges for Automotive E-Compressor Market

  • Automotive e-compressors add extra components to the automobile, which is a key restrain of the market. Several professionals working at automobile repair shops are not acquainted with this new system. Furthermore, e-compressors require additional heavy-duty electrical wiring. This increases the complexity in repair and maintenance of these systems and overall cost.
  • Automotive e-compressors are less powerful as compared to conventional I.C engine driven compressors
  • These concerns related to power and costs are restraining the automotive e-compressor market across the globe

Challenges for Automotive E-Compressor Market Segmentation

  • The global automotive e-compressor market has been segmented based on sales channel, vehicle type, type, drivetrain, cooling capacity, component, and region
  • Based on sales channel, the OEMs segment dominates the global automotive e-compressor market, owing to the rise in production of electric and hybrid vehicles, leading to the demand for automotive e-compressors, while the aftermarket for automotive e-compressors is in the nascent stage. In the upcoming years, aftermarket for e-compressors will likely to witness significant rise in the demand.
  • Based on vehicle type, the passenger vehicles segment holds a major share of the automotive e-compressor market, owing to increase in the number of electric vehicles being manufactured in this vehicle category. Light duty vehicles holds major share, whereas buses would likely witness better gain in market penetration, as countries are focusing on electrifying their public transport vehicles in urban areas. Medium and heavy duty trucks witness low level of acceptance as development of efficient EV trucks is still under progress.
  • Based on type, electric driven scroll compressors holds significant share when compared with swash, wobble, screw types. Electric driven scroll compressors offer several advantages such as easy control as well as good efficiency at high speeds.
  • Based on drivetrain, the electric vehicle segment leads the automotive e-compressor market. It is estimated to gain market share currently held by the IC engine segment in the near future.
  • Based on cooling capacity, the 20 to 40 CC segment accounts for a major share of the automotive e-compressor market, as majority of passenger vehicles fall under this cooling category
  • Based on component, the automotive e-compressor market has been segregated into compressor section, motor, inverter, oil separator, and others

Automotive E-Compressor Market: Regional Analysis

  • Based on region, the global automotive e-compressor market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific and Europe are projected to be highly lucrative regions of the global automotive e-compressor market during the forecast period. This is primarily due to the presence of prominent automotive industry in China, Germany, Japan, and India. Rise in demand for electric vehicles across Asia Pacific is likely to boost the automotive e-compressor market in the region.
  • Europe has presence of major OEMs and tier-1 suppliers who have advanced research and development facilities, which, in turn, is anticipated to boost the automotive e-compressor market across Europe

Automotive E-Compressor Market: Competition Landscape

  • Key players operating in the global automotive e-compressor market include
    • Denso Corporation
    • Sanden Corporation
    • Mahle Behr GmbH
    • Toyota Industries Corporation
    • Hanon Systems
    • Robert Bosch GmbH
    • Valeo S.A.
    • Marelli
    • SCHOTT AG
    • Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd.
  • Competition in the global market has intensified due to participation of new manufacturers, demand for improvement in efficiency, and decline in size and weight of e-compressors.

Read Our Latest Press Release:

https://www.prnewswire.com/news-releases/manufacturing-industries-pin-hopes-on-demand-planning-solutions-market-to-boost-performance-of-supply-chains-market-to-cross-mark-of-us-14-5-bn-by-2030-end-tmr-301185652.html

https://www.prnewswire.com/news-releases/global-tissue-paper-packaging-machines-market-to-grow-as-demand-for-toilet-rolls-explode-during-the-ongoing-pandemic—tmr-301190400.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here