Automotive Condenser Market to Witness Rise in Revenues During the Period 2020 – 2030
Manufacturers in the automotive condenser market are focusing on the introduction of new application-specific product offerings in order to better address customer requirements. Moreover, market players are found to be directing their efforts toward strengthening their distribution channels while focusing on direct sales. Companies in the automotive condenser space are enhancing product quality by implementing new technologies and adopting new, tough, and long-lasting materials with added features at a competitive price point, while at the same time maintaining steadfast focus on vehicle safety. The global automotive condenser market is anticipated to expand at a CAGR of 4.4% during the projected period, expanding 1.5X its size by 2030-end.
The upcoming automotives would be abreast with HWW (Health, Wellness, and Wellbeing) features in the wake of healthcare being the top priority. So, it could be inferred that apart from going “green”, they would be going “pink” as well. The car’s parts would be revisited with the objective of keeping the occupants of vehicle healthy and safe.
There are environmentally-friendly regulations being laid down, which ask for circular economy, i.e. ideas of recycling and reusing would be put into practice in the near future. These trends in the automotive vertical along with insights have been constructively captured by the analysts and consultants in Persistence Market Research.
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Key Takeaways from Automotive Condenser Market Study
- By material, the aluminum segment is estimated to be most attractive segment in the market. The segment is estimated to gain a prominent market share over the forecast period, owing to the novel properties of aluminum such as lightweight feature, corrosion resistance, superior aesthetics, easy manufacturability, and good conductivity.
- By type, the parallel flow segment remains lucrative and will dominate global market demand over the forecast period, primarily due to the fact that these condensers offer longer life and efficient HVAC comfort for passengers and the driver in real-time working conditions.
- By sales channel, the OEMs segment is estimated to hold more than 90% of the total market value share during the forecast period.
- By vehicle, the passengers car segment is anticipated to provide increased opportunities in the global automotive condenser market, owing to growing consumer preference for advanced automotive condensers.
- APAC is a prominent regional market for automotive condensers and is anticipated to dominate the global market in terms of demand, followed by Europe. Noteworthy increase in sales across markets such as China, India, Mexico, and Turkey is expected over the forecast period. Developed regions are projected to hold significant market share market, with a large contribution expected from North America and Europe.
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Global Automotive Condenser Market: Competition Landscape
Companies in the global market for automotive condensers are strategizing to invest heavily in extensive research & development to increase the attractiveness of their product portfolios. Expansion of product line will support key players to strengthen their roots in the global automotive condenser market.
Key companies functioning in the global automotive condenser market are aiming to provide their customer base with more innovative and technologically-advanced products to keep up with the latest advancements and changes in automotive technology. These companies are also focusing on expanding their service quality in different regions to boost their market share and gain a strong hold in the global automotive condenser market.
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Some of the players functioning in the global automotive condenser market are Subros Ltd., Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, MAHLE GmbH, Hanon Systems Valeo SA, Modine Manufacturing Company, Standard Motor Products, Inc., Keihin Corporation, Calsonic, Kansei Corporation, Sanden Philippines, Air International Thermal Systems, Reach Cooling Group, OSC Automotive Inc., Japan Climate Systems Corporation, and KOYORAD Co., Ltd.
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