China EV Air-conditioner Industry Report, 2015-2018
As preferential policies like purchase tax exemption are phased in, and with gradual improvements in infrastructure, new energy automobile market is going through rapid yet sustained growth. According to Made in China 2025 released in May 2015 by the State Council, the sales volume of China-branded new energy vehicles will reach 1 million units by 2020 and 3 million units by 2025. In the years ahead, therefore, Chinese new energy vehicles will continue to maintain the momentum of rapid growth, and electric air-conditioners, electric power steering, and other related supporting industries will also be upgraded.
Electric air-conditioners are the most energy-intensive parts in new energy vehicles except motors, whose impact on driving range could reach as much as 25%-35%. An estimate shows that in 2015 the market size of new energy automotive air conditioners in China will be very likely to hit RMB3.276 billion, up 92.56% from a year earlier. The electric bus air-conditioners are far higher in unit price than passenger vehicle air-conditioners, and thus dominate the market, while electric passenger vehicle air-conditioners have shown greater market space as the market demand expands rapidly.
Songz, China's largest producer of electric bus air-conditioner, sold about 4,100 new energy bus air-conditioners in 2014, which generated revenue of RMB224.29 million. In H1 2015, the company continued to increase investment in new energy buses, and has produced and delivered more than 2,500 new energy bus air-conditioners, up over 35% from a year before. In terms of industry input, Songz in October 2014 raised funds of RMB1 billion via non-public stock offerings to conduct operating activities in new energy automotive air-conditioners, including technical R&D, capacity expansion, market development, talent introduction, and service network construction.
As one of the major electric passenger vehicle air-conditioning compressor manufacturers in China, Aotecar registers an over 60% share in motor compressor market. Since the development of motor compressors in 2005, Aotecar has established strategic cooperative relations with a broad array of companies like BAIC, Chery, Zotye, Changan, BYD, Geely, FAW Haima, King Long, and Foton. In January 2015, Aotecar was wholly acquired by Jiangsu Kingfield Garments Co., Ltd.; subsequently, Kingfield raised funds of about RMB1.207 billion via non-public stock offerings and purchased Air International Group. The acquisition would bring benefits to the both parties in resource integration and competitiveness improvement in EV air-conditioners.
The report mainly focuses on the following:
Electric air-conditioners are the most energy-intensive parts in new energy vehicles except motors, whose impact on driving range could reach as much as 25%-35%. An estimate shows that in 2015 the market size of new energy automotive air conditioners in China will be very likely to hit RMB3.276 billion, up 92.56% from a year earlier. The electric bus air-conditioners are far higher in unit price than passenger vehicle air-conditioners, and thus dominate the market, while electric passenger vehicle air-conditioners have shown greater market space as the market demand expands rapidly.
Songz, China's largest producer of electric bus air-conditioner, sold about 4,100 new energy bus air-conditioners in 2014, which generated revenue of RMB224.29 million. In H1 2015, the company continued to increase investment in new energy buses, and has produced and delivered more than 2,500 new energy bus air-conditioners, up over 35% from a year before. In terms of industry input, Songz in October 2014 raised funds of RMB1 billion via non-public stock offerings to conduct operating activities in new energy automotive air-conditioners, including technical R&D, capacity expansion, market development, talent introduction, and service network construction.
As one of the major electric passenger vehicle air-conditioning compressor manufacturers in China, Aotecar registers an over 60% share in motor compressor market. Since the development of motor compressors in 2005, Aotecar has established strategic cooperative relations with a broad array of companies like BAIC, Chery, Zotye, Changan, BYD, Geely, FAW Haima, King Long, and Foton. In January 2015, Aotecar was wholly acquired by Jiangsu Kingfield Garments Co., Ltd.; subsequently, Kingfield raised funds of about RMB1.207 billion via non-public stock offerings and purchased Air International Group. The acquisition would bring benefits to the both parties in resource integration and competitiveness improvement in EV air-conditioners.
The report mainly focuses on the following:
- Overview of China’s EV air-conditioner industry, including product’s definition, classification, and main policies, etc.;
- Status quo of China’s EV industry, including output and sales volume of electric vehicles of various types, competition pattern, etc.;
- Overview of China’s EV air-conditioner industry, including market size, demand, supply model, etc.;
- China’s EV air-conditioner market segments, including demand, market size, competition pattern, supply relationship and forecasts of electric air-conditioners for passenger vehicle, bus and special vehicle markets;
- Nine electric passenger vehicle air-conditioner manufacturers—Sanden, Toyota Industries Corporation, Halla Visteon, Valeo, Huayu, Xiezhong International, Aotecar, Hefei Carnot, and Mudanjiang Foton, and four electric bus air-conditioner manufacturers—Songz, Zhengzhou Kelin, Guangzhou Jingyi, and New Tongchuang, including profile, financial conditions, featured products, R&D, production bases, technical characteristics, etc.
1. OVERVIEW OF EV AIR-CONDITIONER
1.1 Definition
1.2 Classification
1.3 Industry Supervision
1.4 Industry Policy
2. EV INDUSTRY
2.1 Market Overview
2.2 Market Size
2.3 EV Market Segments
2.3.1 Electric Passenger Vehicle
2.3.2 Special Electric Vehicle
2.3.3 Electric Bus
3. EV AIR-CONDITIONER MARKET
3.1 Total Demand
3.2 Market Size
3.3 Sales Model
4. MARKET SEGMENTS
4.1 Electric Bus Air-conditioner Market
4.1.1 Demand
4.1.2 Market Size
4.1.3 Competition Pattern and Supply Relationship
4.2 Passenger Vehicle / Special Vehicles Air-conditioner Market
4.2.1 Demand
4.2.2 Market Size
4.2.3 Market Structure
4.2.4 Competition Pattern and Supply Relationship
5. ELECTRIC PASSENGER VEHICLE AIR-CONDITIONER COMPANIES
5.1 Sanden Corporation
5.1.1 Profile
5.1.2 Revenue Situation
5.1.3 Income Analysis
5.1.4 Main Compressor Products
5.1.5 Compressor Sales
5.2 Toyota Industries Corporation (Denso)
5.2.1 Profile
5.2.2 Revenue Situation
5.2.3 Income Analysis
5.2.4 Main Compressor Products
5.2.5 Sales
5.2.6 TD Automotive Compressor Kunshan Co., Ltd. (TACK)
5.2.7 Yantai Shougang DENSO Co., Ltd. (YSD)
5.3 Hanon Systems (HVCC)
5.3.1 Profile
5.3.2 Revenue Situation
5.3.3 Income Analysis
5.3.4 Capacity and Output
5.3.5 EV Thermal Management System
5.3.6 Hanon Systems’ Main Organizations in China
5.3.7 Halla Visteon Climate Control (Dalian) Co., Ltd.
5.4 Valeo
5.4.1 Profile
5.4.2 Revenue Situation
5.4.3 Income Analysis
5.4.4 Order Analysis
5.4.5 Thermal Solution for EV
5.4.6 Valeo Compressor (Changchun) Co., Ltd.
5.4.7 Huada Automotive Air Conditioner (Hunan) Co., Ltd.
5.5 Sanden Huayu Automotive Air-Conditioning Co., Ltd. (SSB)
5.5.1 Profile
5.5.2 Operation
5.5.3 Major Customers and Suppliers
5.5.4 Electric Air-conditioner Business
5.5.5 Operation of Major Subsidiaries
5.5.6 Sales Network
5.6 Nanjing Aotecar New Energy Technology Co., Ltd.
5.6.1 Profile
5.6.2 Operation
5.6.3 Electric Air-conditioner Business
5.6.4 Motor Compressor Products
5.7 Xiezhong International Holdings Limited
5.7.1 Profile
5.7.2 Operation
5.7.3 Revenue Structure
5.7.4 Electric Air-conditioner Business
5.7.5 M&A
5.8 Hefei Carnot Automotive Air Conditioning Co., Ltd.
5.8.1 Profile
5.8.2 Operation
5.8.3 Electric Air-conditioner Business
5.9 Mudanjiang Foton Automotive Air Conditioner Co., Ltd.
5.9.1 Profile
5.9.2 Main Compressor Products
5.9.3 Supply Relationship
6. ELECTRIC BUS AIR-CONDITIONER COMPANIES
6.1 Songz Automobile Air Conditioning Co., Ltd.
6.1.1 Profile
6.1.2 Operation
6.1.3 Revenue Structure
6.1.4 Gross Margin
6.1.5 Electric Air-conditioner Business
6.2 Zhengzhou Kelin Motor Vehicle Air Conditioning Co., Ltd.,
6.2.1 Profile
6.2.2 Operation
6.2.3 Electric Air-conditioner Business
6.3 Guangzhou Jingyi Automobile Air Conditioning Co., Ltd.
6.3.1 Profile
6.3.2 Main Products
6.3.3 Production Capacity
6.4 Suzhou New Tongchuang Auto Air-Conditioning Co., Ltd
6.4.1 Profile
6.4.2 Main Products
1.1 Definition
1.2 Classification
1.3 Industry Supervision
1.4 Industry Policy
2. EV INDUSTRY
2.1 Market Overview
2.2 Market Size
2.3 EV Market Segments
2.3.1 Electric Passenger Vehicle
2.3.2 Special Electric Vehicle
2.3.3 Electric Bus
3. EV AIR-CONDITIONER MARKET
3.1 Total Demand
3.2 Market Size
3.3 Sales Model
4. MARKET SEGMENTS
4.1 Electric Bus Air-conditioner Market
4.1.1 Demand
4.1.2 Market Size
4.1.3 Competition Pattern and Supply Relationship
4.2 Passenger Vehicle / Special Vehicles Air-conditioner Market
4.2.1 Demand
4.2.2 Market Size
4.2.3 Market Structure
4.2.4 Competition Pattern and Supply Relationship
5. ELECTRIC PASSENGER VEHICLE AIR-CONDITIONER COMPANIES
5.1 Sanden Corporation
5.1.1 Profile
5.1.2 Revenue Situation
5.1.3 Income Analysis
5.1.4 Main Compressor Products
5.1.5 Compressor Sales
5.2 Toyota Industries Corporation (Denso)
5.2.1 Profile
5.2.2 Revenue Situation
5.2.3 Income Analysis
5.2.4 Main Compressor Products
5.2.5 Sales
5.2.6 TD Automotive Compressor Kunshan Co., Ltd. (TACK)
5.2.7 Yantai Shougang DENSO Co., Ltd. (YSD)
5.3 Hanon Systems (HVCC)
5.3.1 Profile
5.3.2 Revenue Situation
5.3.3 Income Analysis
5.3.4 Capacity and Output
5.3.5 EV Thermal Management System
5.3.6 Hanon Systems’ Main Organizations in China
5.3.7 Halla Visteon Climate Control (Dalian) Co., Ltd.
5.4 Valeo
5.4.1 Profile
5.4.2 Revenue Situation
5.4.3 Income Analysis
5.4.4 Order Analysis
5.4.5 Thermal Solution for EV
5.4.6 Valeo Compressor (Changchun) Co., Ltd.
5.4.7 Huada Automotive Air Conditioner (Hunan) Co., Ltd.
5.5 Sanden Huayu Automotive Air-Conditioning Co., Ltd. (SSB)
5.5.1 Profile
5.5.2 Operation
5.5.3 Major Customers and Suppliers
5.5.4 Electric Air-conditioner Business
5.5.5 Operation of Major Subsidiaries
5.5.6 Sales Network
5.6 Nanjing Aotecar New Energy Technology Co., Ltd.
5.6.1 Profile
5.6.2 Operation
5.6.3 Electric Air-conditioner Business
5.6.4 Motor Compressor Products
5.7 Xiezhong International Holdings Limited
5.7.1 Profile
5.7.2 Operation
5.7.3 Revenue Structure
5.7.4 Electric Air-conditioner Business
5.7.5 M&A
5.8 Hefei Carnot Automotive Air Conditioning Co., Ltd.
5.8.1 Profile
5.8.2 Operation
5.8.3 Electric Air-conditioner Business
5.9 Mudanjiang Foton Automotive Air Conditioner Co., Ltd.
5.9.1 Profile
5.9.2 Main Compressor Products
5.9.3 Supply Relationship
6. ELECTRIC BUS AIR-CONDITIONER COMPANIES
6.1 Songz Automobile Air Conditioning Co., Ltd.
6.1.1 Profile
6.1.2 Operation
6.1.3 Revenue Structure
6.1.4 Gross Margin
6.1.5 Electric Air-conditioner Business
6.2 Zhengzhou Kelin Motor Vehicle Air Conditioning Co., Ltd.,
6.2.1 Profile
6.2.2 Operation
6.2.3 Electric Air-conditioner Business
6.3 Guangzhou Jingyi Automobile Air Conditioning Co., Ltd.
6.3.1 Profile
6.3.2 Main Products
6.3.3 Production Capacity
6.4 Suzhou New Tongchuang Auto Air-Conditioning Co., Ltd
6.4.1 Profile
6.4.2 Main Products
SELECTED CHARTS
Comparison of Traditional Auto Air-conditioning System and EV air-conditioning System
Difference between EV Air-conditioning System and Traditional Auto Air-conditioning System
Structure Schematic Diagram for EV Air-conditioning System
Performance Comparison of Compressor Drive Schemes
Classification of EV Air-conditioners
Policies on Auto Air-conditioner Industry in Recent Years
Output of Electric Vehicles in China, 2012-2020E
Output of Electric Vehicles in China by Market Segment, 2012-2018E
Output and Sales Volume of Electric Passenger Vehicles in China, 2011-2015
Output of Special Electric Vehicles in China, 2012-2015
Monthly Output of New Energy Buses in China, 2014-2015
Output of Electric Buses in China, 2012-2018E
Demand for Electric Air-conditioners in China, 2012-2018E
Market Size of Electric Air-conditioners in China, 2012-2018E
Sales Model of Auto Air-conditioners
Demand for Electric Bus Air-conditioners in China, 2012-2018E
Market Size of Electric Bus Air-conditioners in China, 2012-2018E
Demand for Electric Passenger and Special Vehicles in China, 2012-2018E
Market Size of Electric Passenger and Special Vehicles in China, 2012-2018E
Market Structure of Electric Air-conditioners for New Energy Vehicles by Air-conditioner Type, 2015
Sanden’s Development History in China
Operating Revenue and Net Income of Sanden, FY2010-FY2016E
Revenue Structure of Sanden by Product, FY2011-FY2016E
Revenue Structure of Sanden by Region, FY2012-FY2015
Sanden’s Major Electric and Hybrid Electric Compressor Series
Compressor Sales Volume of Sanden, FY2013-FY2016E
Sanden’s Compressor Sales Volume by Region, FY2015-FY2016E
Operating Revenue and Net Income of Toyota Industries Corporation, FY2010-FY2016E
Main Product Revenue of Toyota Industries Corporation, FY2011-FY2016E
Motor Compressor of Toyota Industries Corporation
Air Conditioning Compressor Sales Volume of Toyota Industries Corporation, FY1981-FY2015
Toyota Industries Corporation’s Air Conditioning Compressor Sales Volume and Its Major Customers Worldwide, FY2015
Operating Revenue and Net Income of Hanon Systems, 2009-2015
Revenue Structure of Hanon Systems by Region, 2011-2014
Capacity and Output of Hanon Systems’ Main Products, 2014
Hanon Systems’ Climate Control System for EV/HEV
Major R&D Institutions of Hanon Systems in China
Major Subsidiaries of Hanon Systems in China
Supply Relationship of Visteon’s Auto Air-condition Compressor Suppliers
Operating Revenue and Net Income of Valeo, 2009-2015 (EUR mln)
Revenue Structure of Valeo by Business, 2013-2015 (EUR mln)
Revenue Structure of Valeo by Region, 2012-2015 (EUR mln)
Number of Valeo’s Orders, 2005-2015 (EUR bn)
Number of Valeo’s Orders by Region, 2014-2015
Battery Thermal Management Solution of Valeo
An Air-conditioning Loop of Valeo
Equity Structure of Sanden Huayu
Revenue and Net Income of Sanden Huayu, 2012-2015
Sanden Huayu’s Top 5 Customers, 2012-2015
Sanden Huayu’s Top 5 Raw Material Suppliers, 2012-2015
Sales Volume of Air Conditioning Compressor of Sanden Huayu, 2012-2015
Parameters of Sanden Huayu’s Air Conditioning Compressors
Major Subsidiaries of Sanden Huayu
Overseas Sales Network of Sanden Huayu
Domestic Sales Network of Sanden Huayu
Characteristics of Aotecar’s Motor Compressor Products
Revenue and Net Income of Xiezhong International, 2010-2015 (RMB mln)
Revenue of Xiezhong International, 2013-2015
Financial Indicators of Hefei Carnot, 2014-2015
Electric Air-conditioner Products of Hefei Carnot
Characteristics of Main Compressor Products of Mudanjiang Foton
Supply Relationship of Major Auto Air-conditioning Compressor Suppliers of Mudanjiang Foton
Number of Employees of Songz, 2010-2014
Revenue and Net Income of Songz, 2009-2015
Revenue and Gross Margin of Songz by Product, 2014-2015
Revenue Structure of Songz by Region, 2010-2015 (RMB mln)
Gross Margin of Songz, 2009-2015
Sales Volume of New Energy Bus Air-conditioners of Songz, 2013-2015
Operating Revenue and Net Income of Zhengzhou Kelin, 2013-2015 (RMB mln)
Main Electric Air-conditioners of Zhengzhou Kelin
Technical Parameters of Split-type Electric Air-conditioners for Minibuses
Technical Parameters of KRBPB Series Electric Air-conditioners (AC-Type)
KRBPE Series Electric Air-conditioners (DC-Type)
KRBPB-D Series Electric Air-conditioners (AC/DC Type and DC-Type)
Technical Parameters of New Tongchuang’s Roof-top Pure Electric Air-conditioners
Comparison of Traditional Auto Air-conditioning System and EV air-conditioning System
Difference between EV Air-conditioning System and Traditional Auto Air-conditioning System
Structure Schematic Diagram for EV Air-conditioning System
Performance Comparison of Compressor Drive Schemes
Classification of EV Air-conditioners
Policies on Auto Air-conditioner Industry in Recent Years
Output of Electric Vehicles in China, 2012-2020E
Output of Electric Vehicles in China by Market Segment, 2012-2018E
Output and Sales Volume of Electric Passenger Vehicles in China, 2011-2015
Output of Special Electric Vehicles in China, 2012-2015
Monthly Output of New Energy Buses in China, 2014-2015
Output of Electric Buses in China, 2012-2018E
Demand for Electric Air-conditioners in China, 2012-2018E
Market Size of Electric Air-conditioners in China, 2012-2018E
Sales Model of Auto Air-conditioners
Demand for Electric Bus Air-conditioners in China, 2012-2018E
Market Size of Electric Bus Air-conditioners in China, 2012-2018E
Demand for Electric Passenger and Special Vehicles in China, 2012-2018E
Market Size of Electric Passenger and Special Vehicles in China, 2012-2018E
Market Structure of Electric Air-conditioners for New Energy Vehicles by Air-conditioner Type, 2015
Sanden’s Development History in China
Operating Revenue and Net Income of Sanden, FY2010-FY2016E
Revenue Structure of Sanden by Product, FY2011-FY2016E
Revenue Structure of Sanden by Region, FY2012-FY2015
Sanden’s Major Electric and Hybrid Electric Compressor Series
Compressor Sales Volume of Sanden, FY2013-FY2016E
Sanden’s Compressor Sales Volume by Region, FY2015-FY2016E
Operating Revenue and Net Income of Toyota Industries Corporation, FY2010-FY2016E
Main Product Revenue of Toyota Industries Corporation, FY2011-FY2016E
Motor Compressor of Toyota Industries Corporation
Air Conditioning Compressor Sales Volume of Toyota Industries Corporation, FY1981-FY2015
Toyota Industries Corporation’s Air Conditioning Compressor Sales Volume and Its Major Customers Worldwide, FY2015
Operating Revenue and Net Income of Hanon Systems, 2009-2015
Revenue Structure of Hanon Systems by Region, 2011-2014
Capacity and Output of Hanon Systems’ Main Products, 2014
Hanon Systems’ Climate Control System for EV/HEV
Major R&D Institutions of Hanon Systems in China
Major Subsidiaries of Hanon Systems in China
Supply Relationship of Visteon’s Auto Air-condition Compressor Suppliers
Operating Revenue and Net Income of Valeo, 2009-2015 (EUR mln)
Revenue Structure of Valeo by Business, 2013-2015 (EUR mln)
Revenue Structure of Valeo by Region, 2012-2015 (EUR mln)
Number of Valeo’s Orders, 2005-2015 (EUR bn)
Number of Valeo’s Orders by Region, 2014-2015
Battery Thermal Management Solution of Valeo
An Air-conditioning Loop of Valeo
Equity Structure of Sanden Huayu
Revenue and Net Income of Sanden Huayu, 2012-2015
Sanden Huayu’s Top 5 Customers, 2012-2015
Sanden Huayu’s Top 5 Raw Material Suppliers, 2012-2015
Sales Volume of Air Conditioning Compressor of Sanden Huayu, 2012-2015
Parameters of Sanden Huayu’s Air Conditioning Compressors
Major Subsidiaries of Sanden Huayu
Overseas Sales Network of Sanden Huayu
Domestic Sales Network of Sanden Huayu
Characteristics of Aotecar’s Motor Compressor Products
Revenue and Net Income of Xiezhong International, 2010-2015 (RMB mln)
Revenue of Xiezhong International, 2013-2015
Financial Indicators of Hefei Carnot, 2014-2015
Electric Air-conditioner Products of Hefei Carnot
Characteristics of Main Compressor Products of Mudanjiang Foton
Supply Relationship of Major Auto Air-conditioning Compressor Suppliers of Mudanjiang Foton
Number of Employees of Songz, 2010-2014
Revenue and Net Income of Songz, 2009-2015
Revenue and Gross Margin of Songz by Product, 2014-2015
Revenue Structure of Songz by Region, 2010-2015 (RMB mln)
Gross Margin of Songz, 2009-2015
Sales Volume of New Energy Bus Air-conditioners of Songz, 2013-2015
Operating Revenue and Net Income of Zhengzhou Kelin, 2013-2015 (RMB mln)
Main Electric Air-conditioners of Zhengzhou Kelin
Technical Parameters of Split-type Electric Air-conditioners for Minibuses
Technical Parameters of KRBPB Series Electric Air-conditioners (AC-Type)
KRBPE Series Electric Air-conditioners (DC-Type)
KRBPB-D Series Electric Air-conditioners (AC/DC Type and DC-Type)
Technical Parameters of New Tongchuang’s Roof-top Pure Electric Air-conditioners
