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The automotive e-compressor market share is expected to increase by USD 7.45 billion from 2021 to 2026, at a CAGR of 25.65%.
This automotive e-compressor market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive e-compressor market segmentations by application (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The automotive e-compressor market report also offers information on several market vendors, including Anhui Dyne Automotive Air Conditioning Co. Ltd., BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, Carl Zeiss Stiftung, Continental AG, Denso Corp., Faurecia SE, Hanon Systems, Ingersoll Rand Inc., MAHLE GmbH, Marelli Holdings Co. Ltd., Mitsubishi Heavy Industries Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Sanden Holdings Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp, Valeo SA, Volkswagen AG, and ZF Friedrichshafen AG among others.
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The increasing adoption of automotive electric HVAC compressors is notably driving the automotive e-compressor market growth, although factors such as declining automotive production may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive e-compressor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive E-Compressor Market Driver
The increasing adoption of automotive electric HVAC compressors is one of the key drivers supporting the automotive e-compressor market growth. The design and development of automotive electric HVAC compressors involve more complications than that of belt-driven HVAC compressors, thereby increasing the production cost. Moreover, electric HVAC compressors are produced in lower volumes than belt-driven HVAC compressors. Therefore, the increased production cost is pushed to automotive HVAC manufacturers and vehicle manufacturers, resulting in increased revenue for automotive e-compressor manufacturers. Therefore, the increasing adoption of automotive electric HVAC compressors is expected to drive the market in terms of revenue during the forecast period.
Key Automotive E-Compressor Market Trend
Increasing strategic alliances is one of the key automotive e-compressor market trends contributing to the market growth. The market is competitive, and with the upcoming number of growth opportunities for market vendors, the competitive landscape is set to intensify further. Key players are adopting various strategies, including recent developments, collaborations, product innovations, mergers and acquisitions, joint ventures, and partnerships to enhance their customer base. For instance, on March 22, 2021, All Nippon Airways Co., Ltd. partnered with Toyota Industries to test advanced autonomous tow tractors. Toyota Industries will introduce a newly developed autonomous tow tractor, which will have the ability of higher location that will ensure smooth operations between outdoor and indoor environments. Such instances are likely to enhance the growth of the global automotive e-compressor market during the forecast period.
Key Automotive E-Compressor Market Challenge
Declining automotive production is one of the factors impeding the automotive e-compressor market growth. The outbreak of COVID-19 in Wuhan, China, and its exponential spread across the world affected the automotive sector in 2020. Automotive production in Q1 2020 stood at 17,860 million units, which was 23.07% lower than the production figure in Q1 2019. Moreover, strong headwinds, triggered by the temporary shutting down of manufacturing facilities and ongoing disruptions in the global supply chain, have been affecting automotive production in many countries. This slump has been adversely affecting the demand for automotive HVAC compressors from the ICE vehicle segment. This is expected to adversely affect the growth of the market during the forecast period.
This automotive e-compressor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive e-compressor market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive e-compressor market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive e-compressor market encompasses successful business strategies deployed by the key vendors. The automotive e-compressor market is fragmented and the vendors are deploying growth strategies such as product quality, innovation, price, and operational cost to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive e-compressor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive e-compressor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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