Automotive Electric HVAC Compressor Market Analysis & Growth Opportunities

Automotive Electric HVAC Compressor Market Dynamics, Competitive Forces & Strategic Pathways

The automotive electric HVAC compressor market is anticipated to grow from USD 19.12 billion in 2025 to USD 126.29 billion by 2034, with a compound annual growth rate (CAGR) of 23.34% during the forecast period from 2025 to 2034.

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Introduction

The automotive electric HVAC compressor market is a crucial branch of the automotive components industry. This industry deals in development and distribution of HVAC compressors for use in automotives. There are various types of compressors developed in this industry comprising of fixed displacement compressor and variable displacement compressor. These compressors come with different cooling capacities including less than 20 cc, 20-40 cc, 40-60 cc, more than 60 cc and others. It is designed for numerous vehicles comprising of passenger vehicles, LCV, HCV, buses and coaches and some others. The growing sales of buses in different regions of the world has contributed to the industrial expansion. This market is expected to rise significantly with the growth of the overall automotive industry across the world.

• According to the International Energy Agency, around 5000 electric buses were registered in Europe in 2022 that increased to 8000 units in 2023.

Highlights of the Automotive Electric HVAC Compressor Market

• Asia Pacific held the largest share of the automotive electric HVAC compressor market due to the growing adoption of electric vehicles (EVs) along with increasing emphasis on sustainable transportation initiatives.
• North America is expected to grow with a significant CAGR due to the presence of several automotive companies in U.S. and Canada.
• The passenger vehicles segment held the dominant share of the market due to the rising sales and production of passenger cars in China, Japan and South Korea.
• The HEV segment led the industry due to the growing demand for hybrid vehicles along with developments in hybrid technologies.

What’s Trending in HVAC Compressor Industry?

• According to the International Energy Agency, around 17.14 million EVs were sold in advanced nations during 2023.
• According to the world in our world in data, around 171000 electric cars were sold in Canada in 2023.
• According to the Environmental Defense Fund, the global light-duty EV sales is expected to reach 26 million in 2030 and 54 million in 2040.
• According to the OMI Foundation, around 10.231 electric vehicles were sold in India during March 2024.

Industry Leader Announcement

In August 2024, Gina Maria Bonini, VP and General Manager of Advanced Thermal Systems at Modine announced that, “Our goal was to design a suite of products to keep commercial EVs on the road through long days and extreme conditions, the Modine EVantage electric components are proven to withstand the most unforgiving conditions through rigorous testing.”

Competitive Landscape

The automotive electric HVAC compressor market is a fragmented industry with the presence of several dominant players. Some of the crucial players in this industry comprises of MAHLE GmbH, Sanden Corporation, Toyota Industries Corporation, Valeo, Highly Marelli, Robert Bosch GmbH and some others. These companies are investing heavily for developing advanced HVAC compressors for electric vehicles across the globe.

• According to the annual report of Valeo, the revenue of thermal system segment in 2022 was 1145 million euros in 2022 that increased to 1150 million euros in 2023.

Market Segmentations

By Cooling Capacity

• Less than 20 CC
• 20-40 CC
• 40-60 CC
• More than 60 CC

By Product

• Scroll

By Vehicle

• Passenger Vehicles
• LCV
• HCV
• Buses and Coaches

By Drivetrain

• PHEV
• BEV
• HEV

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa