The development of new energy vehicles is expected to solve the environmental pollution problems caused by traditional fuel vehicles.
The biggest difference between new energy vehicles and traditional fuel vehicles is the power system,New Energy Vehicle Heat Pump Air Conditioning Technology in China Articles which in turn leads to huge changes in thermal management and air conditioning systems. The traditional foreign thermal management leaders, Denso, Valeo, Hanon, and Mahler, account for more than half of the global market and have strong technical advantages. In the current wave of vehicle electrification, the existing competitive landscape of automotive thermal management air-conditioning has shown signs of loosening, and there is a possibility of overtaking in corners by Chinese companies.
ÆHeat pump air conditioners have become the future development trend in the field of new energy vehicles
The new energy vehicle thermal management system includes air conditioning system, battery thermal management, electric motor control thermal management and cooling of other equipment. The difference from traditional fuel vehicles is that the air conditioning system of new energy vehicles is driven by electric energy, and the heating scheme includes PTC and heat pump modes. The advantage of heat pump air conditioning over PTC heating is that it is more energy-efficient, and it has been rapidly promoted in the field of new energy vehicles.
ÆChina Local companies in the heat pump air-conditioning market accelerate their rise
The traditional foreign thermal management leaders, Denso, Valeo, Hanon, and Mahle, accounted for 55% of the global market in revenue in 2018, and have strong technical advantages. The advantage of China’s domestic enterprises with core thermal management components is that they are sensitive to market demand and can adapt to the current development rhythm of new energy automobile companies at home and abroad. For new energy vehicles, the power source of the air conditioning system is changed from the original engine to the power battery, and the technical solution needs to be redesigned. Generally speaking, in the wave of automobile electrification, the existing competitive landscape of automobile thermal management air-conditioning has shown signs of loosening, and there is the possibility of Chinese companies overtaking in curves.
Investment opportunities in China’s new energy vehicle heat pump air-conditioning industry.
The value of the single-vehicle air-conditioning system of new energy vehicles has greatly increased compared with traditional fuel vehicles. The value of a single vehicle is about 7000~8000 yuan (if heat pump air-conditioning is used, it is about 10000 yuan), which is about twice as high as that of traditional fuel vehicles. Among them, the value of the air-conditioning system (traditional refrigerant) of new energy vehicles is approximately RMB 3,950 per vehicle, which is significantly higher than the value of RMB 1,610 per vehicle of traditional fuel Tesla Model Y Juniper vehicles. In 2025, my country’s new energy vehicle penetration rate target is 25%. Based on this calculation, the domestic sales of new energy vehicles are expected to reach 7.1 million in 2025, and the space corresponding to the thermal management system is about 50 billion yuan, of which the space for the air-conditioning system is about 28 billion yuan. With the popularization of carbon dioxide heat pump technology in the future, the space of air-conditioning system is expected to be further improved
The air conditioning system plays an important role in the thermal management system
For new energy vehicles, the thermal management system includes the air conditioning system, in addition to battery thermal management, electric motor thermal management, and cooling of other equipment.
The biggest difference between new energy vehicles and traditional fuel vehicles is the power system. The former converts electrical energy into mechanical energy, while the latter converts chemical energy into internal energy and then into mechanical energy.