Automotive Electric HVAC Compressor Market Report
The global Automotive Electric HVAC Compressor Market size is projected to reach a CAGR of 20.7% from 2022-2028.
An electric compressor is independent of the vehicle engine and is tasked with the dual role of cooling the cabin and the battery pack and protecting the battery from overheating to prevent any breakdown of the vehicle. An electric compressor boasts lesser mechanical parts and hence facilitates quieter and cleaner operations due to lower oil carryover.
Rising fuel prices coupled with the growing awareness about environmental protection have been driving the adoption of electric vehicles and subsequently the demand for electric HVAC compressors.
Electric compressors are anticipated to be widely used by electric car OEMs due to their multi-functionality characteristics and decreased energy usage. In automotive electric HVAC compressor market analysis, it is found that even though an electric compressor is a vital part of an electric vehicle, demand for electric cars alone drives the market for electric compressors. Therefore, any growth in the use of electric cars would immediately result in a rise in the need for electric compressors.
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Last Update : Jul 10, 2023 7:32 AM
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