Global E-Compressor Market Size, Share, Opportunities, And Trends By Type (Low Voltage, High Voltage), By Application (Battery Cooling, Air Conditioning System), By Vehicle Type (Motor Vehicles, Electric Vehicles (Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles)), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061615227
  • Pages : 140

The E-compressor market is expected to grow at a CAGR of 20.49% reaching a market size of US$10.107 billion in 2029 from US$2.742 billion in 2022.

E-compressors, or electronic compressors, are advanced devices designed for compressing gases, particularly in various industrial applications. Unlike traditional mechanical compressors, e-compressors utilize electronic control systems and digital technologies to optimize the compression process. These compressors are often employed in sectors such as manufacturing, energy, and transportation.

Electronic control systems in e-compressors enable precise monitoring and adjustment of compression parameters, leading to improved efficiency and performance. They can respond dynamically to changes in demand, ensuring a more adaptable and energy-efficient compression process. Additionally, e-compressors often feature sensors and connectivity, allowing for remote monitoring and control.

The adoption of e-compressors aligns with the broader trend of digitalization and smart technologies in industrial processes. This facilitates enhanced sustainability, reduced energy consumption, and improved overall operational effectiveness in various sectors.

Increasing demand for electric vehicles

E-compressors find application in electric vehicles, and there is a rising inclination towards electrically powered air-conditioner systems due to the growing demand for electric vehicles. The market is expected to witness an increase in the adoption of smaller and lighter e-compressors. A notable development in the global e-compressor sector is the emergence of smart e-compressors that can be controlled through smartphones and diverse electronic devices. The surge in the popularity of electric cars is also poised to contribute to the global e-compressor market growth in the future.

The 2023 release of the IEA’s annual Global Electric Vehicle Outlook reveals a remarkable surge in electric vehicle (EV) sales, escalating from approximately 1 million in 2017 to surpassing 10 million in 2022 within just five years. In the preceding five years from 2012 to 2017, the growth from 100,000 to 1 million EV sales highlights the exponential trajectory of EV market expansion. The proportion of electric cars in total car sales experienced a substantial increase from 9% in 2021 to 14% in 2022, marking over a tenfold rise compared to their share in 2017. Despite this growth, the global EV fleet's electricity consumption in 2022, amounting to about 110 TWh, constitutes less than 0.5% of the present total final electricity consumption worldwide. Additionally, the utilization of EVs led to the displacement of around 0.7 Mb/d (1.3 EJ) of oil in 2022.

Strict government regulation

One of the things propelling the market expansion is the strict regulations on vehicle efficiency and emissions. Moreover, the legal requirements controlling air pollutants released into the environment are reflected in the emission models. An emission performance standard is a cap that establishes the upper limit that various car emissions control technologies can't go over. Furthermore, the conventional belt-driven compressor increases the workload on the engine, which lowers the vehicle's performance and efficiency and raises emissions, which contribute to the market's growth.

Rising competition among players

The automotive e-compressor market is largely driven by the profitable global presence of industry contributors. Additionally, the use of air conditioners in these cars and recent advancements in e-vehicles support the market growth during the projection period. Furthermore, the opportunity factor for market growth during the forecast period is the industry players' increased competition. Furthermore, these vendors have benefited from the wide range of cutting-edge products offered by some of the industry leaders. Therefore, it is expected that the increasing number of local vendors will increase competition in the automotive e-compressors market. Cars that are environmentally friendly and fuel-efficient are necessary to reduce carbon emissions due to the rising levels of pollution in the world. The global market is being driven by customers' increasing awareness of the need to use fuel-efficient solutions.

North America is witnessing exponential growth during the forecast period

The e-compressor market predominantly serves the automotive sector, playing a crucial role in thermal management by regulating refrigerants under pressure. These compressors efficiently transform low-pressure gas into high-pressure gas. Their widespread application in electric vehicles aligns with government initiatives aimed at promoting the adoption of electric vehicles in the United States. For instance, the Federal Government has set a goal to make half of all the new vehicles sold in the United States in 2030 zero-emission vehicles and to build a continent and equitable network of 5,00,000 charged to make electric vehicles accessible to Americans for both local and long-distance trips. Such initiatives are expected to further increase the use of e-compressors in electric vehicles and push the market in an upward direction. Taking advantage of this increased demand for e-compressors, companies are launching new and innovative products in the market. For instance, in July 2023, Atlas Copco launched the XATS 900E electric portable compressor. The XATS 900E will deliver compressed air from 7 to 10 bars with a flow of up to 25m3/min, while it offers users the advantage of reduced running costs and reduced requirements for maintenance.

Market key launches

  • In March 2023, Sullair announced the launch of the E1035H electric portable compressor, marking the next phase in its commitment to a carbon-neutral value chain. Hitachi, Ltd.'s long-term environmental goals, known as "Hitachi Environmental Innovation 2050," are in line with this new product development. By fiscal 2030, all of the Hitachi Group's offices and factories worldwide are expected to be carbon neutral, and by fiscal 2050, the company's whole value chain will be carbon neutral. The E1035H air compressor belongs to the next generation and offers the same performance, longevity, and dependability as its diesel counterparts. Engineers at Sullair created it using feedback from customers and the company's renowned air end and solid-state starter for increased efficiency. In comparison to diesel compressors, it also boasts quieter operation, more safety features, and a lower total cost of ownership. The E1035H is the first in a long line of planned green initiatives and product innovations, tailored for a changing market.
  • In June 2023, Garrett Motion Inc., a renowned innovator in automotive technology, is partnering with the BMW Group to contribute to the advancement of hydrogen fuel cell vehicles that boast zero emissions. Garrett's skilled research and development team has designed an innovative electric fuel cell compressor (FCC) to support this initiative. The electric air compressor developed by Garrett plays a pivotal role in the fuel cell system of the BMW iX5 Hydrogen. Fuel cells generate electricity on demand for electric motors through a chemical reaction between hydrogen and oxygen. To ensure the efficiency of this reaction and achieve optimal power output, the fuel cell stack requires precise airflow and pressure. Garrett’s electric air compressor efficiently delivers the required airflow, optimizing the fuel cell system’s power density and output. Moreover, it enhances the efficiency and longevity of the fuel cell stack throughout the vehicle's lifespan, all packaged in a highly compact design.

Global E-Compressor Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$2.742 billion
Market Size Value in 2029 US$10.107 billion
Growth Rate CAGR of 20.49% from 2022 to 2029
Base Year 2022
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Type
  • Application
  • Vehicle Type
  • Geography
Companies Covered
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Type
    • Low Voltage
    • High Voltage
  • By Application
    • Battery Cooling
    • Air Conditioning System
  • By Vehicle Type
    • Motor Vehicle
    • Electric Vehicle
      • Battery Electric Vehicle
      • Hybrid Electric Vehicle
      • Plug-in Hybrid Electric Vehicle
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • UK
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Others
 

Frequently Asked Questions (FAQs)

The e-compressor market is expected to experience a CAGR of 20.49% during the forecast period.
The global e-compressor market is expected to reach a market size of US$10.107 billion by 2029.
E-Compressor Market was valued at US$2.742 billion in 2022.
North America holds the largest share of the e-compressor market.
The increasing demand for electric vehicles and market developments fuel the growth of the e-compressor market.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key benefits to the stakeholder

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. GLOBAL E-COMPRESSOR MARKET BY TYPE 

5.1. Introduction

5.2. Low Voltage

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.2.3. Geographic lucrativeness 

5.3. High Voltage

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.3.3. Geographic lucrativeness 

6. GLOBAL E-COMPRESSOR MARKET BY APPLICATION

6.1. Introduction

6.2. Battery Cooling

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.2.3. Geographic lucrativeness 

6.3. Air Conditioning System

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.3.3. Geographic lucrativeness 

7. GLOBAL E-COMPRESSOR MARKET BY VEHICLE TYPE

7.1. Introduction

7.2. Motor Vehicle

7.2.1. Market opportunities and trends

7.2.2. Growth prospects

7.2.3. Geographic lucrativeness 

7.3. Electric Vehicle

7.3.1. Market opportunities and trends

7.3.2. Growth prospects

7.3.3. Geographic lucrativeness 

7.3.4. Battery Electric Vehicle

7.3.5. Hybrid Electric Vehicle

7.3.6. Plug-in Hybrid Electric Vehicle

8. GLOBAL E-COMPRESSOR MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type 

8.2.2. By Application

8.2.3. By Vehicle Type

8.2.4. By Country

8.2.4.1. United States

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Type 

8.3.2. By Application

8.3.3. By Vehicle Type

8.3.4. By Country

8.3.4.1. Brazil 

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects 

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Type 

8.4.2. By Application

8.4.3. By Vehicle Type

8.4.4. By Country

8.4.4.1. Germany

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. UK

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Spain

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type 

8.5.2. By Application

8.5.3. By Vehicle Type

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Type 

8.6.2. By Application

8.6.3. By Vehicle Type

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. South Korea

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. India

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Australia

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Others

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. MAHLE GmbH

10.2. Bain Capital Private Equity (Valeo)

10.3. Hanon Systems

10.4. Robert Bosch GmbH LLC

10.5. Vikas Group

10.6. TCCI Manufacturing

10.7. Denso Corporation

10.8. Mitsubishi Heavy Industries, Ltd.

10.9. Carl Zeiss Foundation (Schott AG)

10.10. Toyota Industries Corporation


MAHLE GmbH

Bain Capital Private Equity (Valeo)

Hanon Systems

Robert Bosch GmbH LLC

Vikas Group

TCCI Manufacturing

Denso Corporation

Mitsubishi Heavy Industries, Ltd.

Carl Zeiss Foundation (Schott AG)

Toyota Industries Corporation