The automotive condenser is part of the HVAC system (Heating, Ventilation and Cooling). It is a series of thin tubes with fins releasing the coolant heat into the atmosphere. The role of the automotive condenser is similar to automotive evaporators except, instead of storing it, condensers emit heat into the atmosphere. Automotive condensers look very similar to automotive radiators and are mounted in automobiles above. Demand for an automotive condenser is expected to increase significantly owing to the increase in vehicle production in the automotive industry. The young generation‘s preference for sports cars and other fast vehicles is likely to drive the global automotive condenser market over the forecast period. All air-conditioned automobiles have car radiators mounted. Increasing the number of vehicles with air conditioning systems in developing regions is therefore likely to fuel the demand for automotive condensers. Due to the accumulation of foreign particles on the end of the condensers, automotive condensers are prone to external blockage which reduces the efficiency of the HVAC system. In addition, extreme condenser blockage may be fixed by removing the condenser, so the production of better solutions to reject heat from the HVAC device into the atmosphere is likely to hamper the demand for automotive condensers. The market primarily driven by Increasing demand for Passenger Cars. For instance: According to International Organization of Motor Vehicle Manufacturers, in 2018, 70498388 units care were produced as compare to 73456531 units in 2017. However, The cost of installing and producing a condenser for automobiles varies from use to use. Since customized applications which require more equipment and high-resistance materials, the cost of customized condensers is higher than conventional automotive condensers due to high production costs. All of these factors are restating the global condenser automobile market.
Global Automotive Condenser Market is valued approximately USD 8.56 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.44% over the forecast period 2021-2027 and is estimated to reach USD 11.60 billion.
The regional analysis of global Automotive Condenser Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Adoption of advanced technology leads consumers’ tendency towards automation. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising disposable income and high production of vehicles would create lucrative growth prospects for the Automotive Condenser Market across Asia-Pacific region.
Major market player included in this report are DENSO corporation, Valeo SA, Hanon systems, Calsonic Kansei Corporation, Sanden Philippines, Delphi Automotive PLC, Mahle GmbH, T. RAD, Modine Manufacturing company, and Tata Motors.
The detailed segments and sub-segment of the market are explained below:
By Type: Single Flow, Tubes & Fins, Serpentines, Parallel Flow
By Application: Passenger Cars, Commercial Vehicles [LCVs, HCVs]
By Sales Channel: OEMs, Aftermarket
By Material: Copper and Brass, Aluminum, Plastic
Review the reports at https://www.bizwitresearch.com/
Data drives better decisions
Bizwit Research & Consulting LLP