Global Automotive Electric HVAC Compressor Market 2018-2023

    BANGALORE, INDIA, July 27, 2018 /24-7PressRelease/ --

INTRODUCTION

The first shift from a reciprocating compressor to E-compressor started happening in the 2012-2013 timeframe when European luxury car manufacturers started using it in their luxury cars to improve fuel economy by 2-3%. More than E-compressor, the market was driven towards a variable displacement compressor, which was in line with the growth in other ancillaries like variable displacement oil pump and electric coolant pump. At that point in time, the volume shift was driven by fuel economy benefits and vehicle electrification trend but the reach was limited to higher segment cars. The move to e-compressor has gained real momentum only after 2015 when sales of low-cost Chinese branded electric vehicles in China started growing by 100%.

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MARKET DYNAMICS

Although, one would think that the growth of electric vehicles in China will majorly drive this market but we believe it will be the luxury car segment that will drive the market. Our rationale is, electric vehicle sales totalled ~0.7 million units in China in 2017, whereas the luxury car segment was at ~2.3 million units. Even if we assume that only 40% of the luxury car segment will be using E-compressors that would still be ~0.9-1 million units. In terms of value, the per unit cost of compressors in luxury cars will be at least 50-60% higher than the ones used in Chinese brand low cost EVs. To further add to our theory, there were innumerable announcements in 2017 and first half of 2018 about every luxury car OEM launching more than 30 electric models by 2022 in China. Now, this will further augment the market size.

MARKET SIZE AND FORECAST

The present market size is driven by growing BEV sales in China but in Europe, it's the replacement of Diesels by 48V Mild hybrids that's driving the market. Reciprocal compressors are still the dominant HVAC technology for automotive application, accounting for XX% of the market but the electric scroll compressors are expected to grow at more than XX% CAGR during next 5 years. The market size in terms of value was $XX Billion growing at a CAGR of XX% in next 5 years.

COMPETITIVE LANDSCAPE

About XX% of total automotive Electric HVAC compressors are manufactured in Asia. High technology maturity being the prime reason for that. Scroll compressors are fast replacing rotary compressors globally as well as in Asia. Since the avg cost of an electric scroll compressor lies between $XX-$XX, the suppliers predominantly manufacture in high volumes in Asia and getting it shipped to Europe and North America. The high scale protects the margin and the added burden of long distance transportation. As of now, most of the suppliers are working on reducing the weight and size of compressors to make it an easy fit in mild-hybrid architecture.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. The market size (both volume and value) of global electric HVAC compressor Market in 2018-2023, segmented by four categories

2. Market share of electric compressor manufacturers

3. Future growth strategy and upcoming products of compressor manufacturers

4. Cost breakup of electric HVAC compressor

5. Latest trends in automotive HVAC

6. Impact of trade war on electric HVAC compressor production

7. Role of China in global electric HVAC compressor production and price

8. The impact of Mobility as a Service on automotive component production

9. Global Electric vehicle outlook for next 5 years

10. The potential role of electric and connected trucks

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