Automotive AC Compressor Market Key Regions, Sales, Revenue, Consumption and Growth Rate 2031

 

EVs Emerge as Bright Spot to Keep Economies Running during COVID-19 Pandemic

The automotive industry has been worst hit due to the COVID-19 pandemic. It is anticipated that the industry will be taking as long as four years minimum to fully recover and run as per normal business practices. Such predictions are creating challenges for stakeholders in the automotive AC compressor market.

Companies in the automotive AC compressor market are adopting the plug and play mode to adapt to slow growth in the overall industry. The volatile demand and supply has compelled car makers to increase their focus in electric vehicles (EVs), since consumers have become conscious about their spending and aiming for long-term investment to own various goods and commodities.

automotive ac compressor market segmentation

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Electric Compressors Help Reduce Temperature of Lithium-ion Batteries in EVs

The proliferation of electromobility is signaling that AC compressors are being operated electrically. SCHOTT, a company in the automotive AC compressor market, is taking advantage of this opportunity to develop optimum electric compressor feedthroughs for both high voltage and 48V operations. Manufacturers are increasing their production capabilities in copper conductors for high current and additional insulation by means of special synthetic elastomer meant for high voltage applications.

Apart from the U.S. and Europe, experts in the automotive AC compressor market are expecting high growth rates of electric compressors (e-compressors) in India. The issue of high temperature in lithium-ion batteries for EVs is being solved by battery-powered compressors.

E-compressors Offer Future Scope for Shorter Charging Times in EVs

Manufacturers in the automotive AC compressor market are boosting their production capabilities in e-compressors. Vehicle technology provider Mahle is investing in R&D for e-compressors that not only cool the vehicle cabin but also the battery used in vehicles. E-compressors are gaining importance if an AC system fails to function, the electric and hybrid vehicles cannot operate due to safety risk posed as a result of battery overheating.

Rising fuel prices in India is encouraging people to opt for electric and hybrid vehicles. Such trends are translating into business opportunities for companies in the automotive AC compressor market. Compressors are playing a crucial role in battery thermal management and extending range & maintenance of battery life, whilst increasing scope for shorter charging times in the future.

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Hydrogen a Realistic Alternative to Fossil Fuel-based Vehicles

Current technologies and performances of hydrogen compression for stationary and automotive applications are acting as key drivers for the automotive AC compressor market. Hydrogen is posing as a game changer in making vehicles emission-less, and contributes toward sustainable development of the global automotive industry. This is evident since hydrogen is one of the most abundant elements available and virtually present everywhere, thus serving as a never-ending source of energy.

Hydrogen can be directly converted into electric energy using fuel cells without producing toxic gases. Moreover, it can be produced using renewable sources including biomass, solar, and wind energies, thus reducing the carbon footprint in the environment. However, several issues related to the shortage and delivery of hydrogen for both stationary and automotive applications are causing an impediment in market growth. As such, innovations in mechanical compressors such as reciprocating & ionic liquid compressors and non-mechanical technologies including electrochemical and adsorption compressors for hydrogen applications are increasing market scope. Thus, hydrogen tech is emerging as a realistic alternative to traditional fossil fuel-based vehicles in the automotive AC compressor market.

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Improvements in Lubricants, Awareness about Compressor Maintenance Benefits Car Companies

Complimenting factors such as improvements in lubricants for reciprocating compressors and rotary screw compressors are boosting growth of the automotive AC compressor market. Reciprocating compressors are estimated to dominate a higher revenue share as compared to rotary compressors during the forecast period. Since automotive AC compressors are susceptible to several issues including fault in working of the compressor clutch, OEMs and stakeholders in aftermarkets are increasing awareness about condenser cleaning to avoid costly compressor and engine repair.

E-compressors are emerging as a new sensation in the automotive AC compressor market. These compressors in hybrid and all-electric vehicles are enabling long distance travel under electric power.

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