Automotive Electric HVAC Compressor Market registering a CAGR of 20.7% from 2021 to 2028
Automotive Electric HVAC Compressor Industry Overview The global automotive electric HVAC compressor market size was valued at USD 9.36 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.7% from 2021 to 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. All these advantages aid in improving the overall efficiency of the vehicle, given that electric compressors are entirely independent of the vehicle engine, thereby driving the demand for these compressors. Gather more insights about the market drivers, restrains and growth of the Global Automotive Electric HVAC Compressor Market Multi-functionality features and lower en...