Market overview:
The Global E Compressor Market is expected to grow at a 34.12% CAGR from 2023 to 2030.
The rise in pollution levels is attributable to the increased transportation use due to urbanization worldwide. These emissions contribute to heart disease, respiratory sickness, and other health problems, raising healthcare expenditures. As a result, there is a growing demand for fuel-efficient automobiles worldwide. This aspect will propel the worldwide automotive e-compressor market throughout the forecast period. Furthermore, due to the automotive compressor's autonomous functioning, the sales of electric cars are increasing. Many automotive manufacturers also use solutions that provide improved cooling capacity while producing less noise. As a result, rising knowledge regarding the proper oil selection to safeguard the electric motor is propelling the Global Market forward.
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The fast spread of the coronavirus around the globe has severely impacted the global automobile e-compressor business. E-compressors are driven by a separate electric motor, reducing engine effort and vehicle emissions. Business shutdowns, rigorous lockdowns, travel and transit bans, and interrupted supply chains have impacted the worldwide automotive e-compressor market's growth. Businesses are recovering from losses by applying a strategic strategy, and market participants are focused on creative solutions to stay afloat in the company. Some of the reasons driving the worldwide automotive e-compressor market during the projected period include an increase in disposable income, an increase in the number of on-road cars, and the popularity of electric vehicles.
Market segmentation:
The Global E Compressor Market is classified into three segments: product, drivetrain, vehicle type and cooling capacity.
According to product type:
- Wobble
- Swash
- Screw
- Scroll
- Others
According to drivetrain type:
- BEV
- PHEV
- HEV
According to vehicle type:
- passenger cars
- HCV
- LCV
According to Cooling Capacity:
- More than 60 CC
- 20 to 40 CC
- Less than 20 CC
Regional analysis:
The Global E Compressor Market Trends have been divided into geographical areas such as North America, Asia-Pacific, Europe, and other nations.
Out of all of these areas, Europe and Asia-Pacific are expected to have the highest Global Market Share of E Compressor throughout the forecast period. Factors such as the rising presence of industry players drive the Asia-Pacific automotive e-compressor market. Economic expansion, expanding car manufacturers, greater disposable income, and a global movement toward vehicle electrification include other drivers. Because of increased customer demand in the Asia-Pacific, manufacturers in the automobile sector are focused on product innovation.
The increased demand for passenger automobiles in the Asia Pacific is one element driving the region's market growth. The Asia-Pacific area is seeing profitable expansion due to the significant automotive industry in growing nations such as Japan, China, Germany, and India. The European area is driving market expansion due to excellent RD facilities, tier-1 suppliers, and significant players.
Recent developments:
- Hanon methods opened a new production center in Korea to build components for eco-friendly automobiles in November 2021.
- The construction of Hanon Systems' 5th manufacturing plant in Korea began in March 2021.
- Hanon Systems' E-compressor was recently employed in BMW AG's ActiveHybrid 7 vehicle.
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