Core Insights - The electric compressor is a critical component in the thermal management of new energy vehicles, often referred to as the "heart" of the system, providing active cooling and ensuring stable operation and driving comfort [1][4] - The demand for electric compressors in China's new energy vehicle market is projected to reach approximately 12.866 million units in 2024, with a market size of about 11.45 billion yuan, and is expected to grow to 16 million units and 15.2 billion yuan by 2025 [1][4] - The industry is expected to continue expanding due to strong government support and the ongoing growth of the new energy vehicle market [1][4] Industry Definition and Technology Categories - Electric compressors are directly driven by electric motors, utilizing the vehicle's power battery as an energy source, and are essential for air conditioning, heat pump heating, and battery cooling in electric and hybrid vehicles [2][3] - The technology has evolved from traditional automotive air conditioning compressor technologies, which include swash plate, rotary vane, and scroll types, to electric compressor technologies, which are categorized into independent scroll compressors, non-independent scroll compressors, and hybrid drive scroll compressors [3] Industry Development Status - The research and production of electric compressors involve multiple technical fields, including precision machining, motor control, and refrigerant system matching, leading to increased production costs due to rising technological complexity [4] - The average price of electric compressors in China is expected to be 890 yuan per unit in 2024, rising to approximately 950 yuan in 2025, and reaching 2000 yuan by 2030 [4] Industry Value Chain - The upstream of the electric compressor industry includes raw materials such as metals and chemicals, as well as core components like compressors, motors, and controllers; the midstream involves the manufacturing of electric compressors; and the downstream primarily applies to the electric vehicle sector, including the manufacturing of electric vehicles and aftermarket services [6] Competitive Landscape - The global electric compressor market is dominated by foreign brands such as Denso, Sanden, and Valeo, while domestic companies like Fudi Technology, Huayu Three Electric, Aotegia, Suzhou Zhongcheng, Haili Co., and Midea Weiling have established a significant presence in the new energy electric compressor sector [8][9] - Aotegia is a leading manufacturer of scroll-type automotive air conditioning compressors and has a strong market position in the new energy vehicle sector, with projected sales of 7.0719 million units and revenue of 4.117 billion yuan in 2024 [9] - Haili Co. has developed a dual business model focusing on core components and automotive parts, with expected production of 47.16 million compressors and revenue of 11.979 billion yuan in 2024 [9] Industry Development Opportunities - The electric compressor is vital for ensuring vehicle performance and enhancing driving experience, with increasing consumer demands for range and comfort in new energy vehicles driving market growth [10]