Automotive E

The automotive e-compressor market is predicted to be worth US$ 1,730.7 Million in 2023 and rise to US$ 5,048.5 Million by 2033. The global industry was expanding at a CAGR of 7.3% from 2018 to 2022.

The demand for automotive e-compressor is driven by the increased popularity of vehicle electrification or hybridization during the projected period. However, one of the key restraints for the global market is the high installation and maintenance cost of these devices, as well as their complexity in repair and maintenance.

The market growth is also being constrained by consumers’ lack of understanding of how hybrid and electric vehicles are serviced and charged.

To encourage users to switch to electric vehicles, the government offers several incentives and subsidies. During the forecast period, there is likely to be a substantial demand for electric vehicles as a result of this. Due to technological developments, many electric automobiles are being produced and sold, which presents additional possibilities for market expansion.

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Key Takeaways:

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Approaches by Key Players:

The key players in the global automotive e-compressor sector are growing their market share through merger and acquisition activity or the construction of new facilities. As many local rivals begin to emerge, the global market is anticipated to witness high rivalry.

Key Players:

Denso Corporation, Hanon Systems, Valeo, Mahle GmbH, Sanden Holdings Corporation, Mitsubishi Heavy Industries, Hitachi Automotive Systems, LG Electronics, Panasonic Corporation, Calsonic Kansei Corporation.

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