Automotive Scroll E-Compressor Market to Exceed US$ 2.6 Bn by 2031: TMR Study
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Growing commercialization avenues for EVs and hybrid vehicles globally to catalyze revenue growth; Asia Pacific automotive scroll e-compressor market to witness steady lucrative opportunities
ALBANY N.Y., April 18, 2022 (GLOBE NEWSWIRE) — New design approaches and the use of lightweight materials in e-compressors for HVAC in automobiles are driving the continuous evolution of the automotive scroll e-compressor market. Adoption of advanced HVAC in electric and hybrid vehicles has led to an uptick in demand for scroll e-compressors. The global automotive scroll e-compressor market is projected to surpass valuation of US$ 2.6 Bn by 2031.
Proliferating sales of commercial and passenger vehicles in rapidly emerging economies of the world have propelled the uptake of automotive scroll e-compressors. Automotive companies are leaning on offering cost-efficient scroll e-compressors. The need for products with better acoustics and better cooling capacity is catalyzing constant technological innovations in the automotive scroll e-compressor market, find the TMR study.
In recent times, recovery in sales of automobile in emerging and developed regions have incentivised demand in the automotive scroll e-compressor market, observed the analysts in the TMR study. Rise in investment in EV charging infrastructure and fiscal incentives to vehicle manufacturers have been boosting the value chains of the players.
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Key Findings of Automotive Scroll E-Compressor Market Study
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Benefits of Scroll E-compressor-based HVAC Systems to Improve Safety and Performance: The need for compressors that can help improve the cooling performance of automotive HVAC units has been fueling the adoption of e-compressors on ICEs and hybrid vehicles. Advancements in HVAC system are promoting the use of automotive e-compressors in thermal management of interior cabin and battery, thus adding fillip to the growth of the automotive scroll e-compressor market.
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Technologically-advanced E-compressors for EVs to Expand Revenue Possibilities: The increasing trend of electrification of transportation, supported by government initiatives over the years, has generated tremendous revenue potential. The study by TMR notes that the sales of EVs will expand avenues for commercialization of products in the automotive scroll e-compressor market.
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Lightweight and Durability Underpins Popularity of Aluminum Material: Aluminum has held a major share of all the materials used in the automotive scroll e-compressor market. They ate lightweight and also durable, which has spurred their preference over steel counterparts. Their demand is expected to be lucrative.
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Automotive Scroll E-Compressor Market: Key Drivers
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The need for improving the fuel efficiency and safety of vehicles has spurred the prospect for advanced HAVC system in automobile. Implementation of norms and regulations pertaining to vehicular emissions has bolstered profitable opportunities for companies in the automotive scroll e-compressor market.
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Growing industry investments in the charging infrastructure in hybrid and electric vehicles will catalyze sales of these vehicles. This has propelled uptake of scroll e-compressors.
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Automotive Scroll E-Compressor Market: Regional Growth Dynamics
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Asia Pacific held a major share of the global automotive scroll e-compressor market in 2020. China has been the leading country market, underpinned by the presence of automobile and automotive manufacturing hub.
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Extensive R&D in China, Japan, and South Korea has created lucrative avenues in the regional automotive scroll e-compressor market. Rise in sales of commercial and passenger vehicles is projected to spur the growth potential. The presence of globally prominent manufacturers of automotive scroll e-compressors has extended the horizon.
Automotive Scroll E-Compressor Market: Key Players
Some of the key players in the automotive scroll e-compressor market are Valeo S.A., Sanden Corporation, Robert Bosch GmbH, Panasonic Corporation, MAHLE Behr GmbH, Hella, Hanon Systems, Denso Corporation, Delphi Plc., and Continental AG.
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Global Automotive Scroll E-Compressor Market: Segmentation
Automotive Scroll E-Compressor Market, by Sales Channel
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OEM
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After market
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Automotive Scroll E-Compressor Market, by Vehicle Type
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Passenger Vehicle
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Hatchback
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Sedan
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Utility Vehicles
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Light Duty Vehicle
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Medium & Heavy Duty Trucks
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Buses & Coaches
Automotive Scroll E-Compressor Market, by Cooling Capacity
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Less than 20 CC
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20 to 40 CC
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More than 40 CC
Automotive Scroll E-Compressor Market, by Material
Automotive Scroll E-Compressor Market, by Region
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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Latin America
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
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