Driving Growth: Automotive Condenser Market worth from USD 6.8B to USD 10.9B by 2032

According to the report, the automotive condenser market was valued at $6.8 Billion in 2022, and is estimated to reach $10.9 Billion by 2032, growing at a CAGR of 5% from 2023 to 2032.

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Prime determinants of growth

The global automotive condenser market is experiencing growth due to several factors such as increase in demand for better driving comfort in automobiles, growth in sales of automobiles, and rise in regulatory standards in the automobile industry. However, high costs and fluctuation in the prices of raw materials hinder the market growth. Moreover, growth in sales of electric and hybrid vehicles and integration of advanced cooling technologies as well as lightweight materials offer remunerative opportunities for the expansion of the global automotive condenser market.

Recent Development:

On March 12, 2024, Robert Bosch GmbH announced it is expanding its workshop range for A/C service with replacement parts for A/C systems. The company is now expanding its workshop capabilities by offering A/C components, including compressors and condensers for vehicles for majority of European automobile manufacturers, the new range of replacement parts initially includes two key wear parts for the air-conditioning system, and the range of replacement parts is expected to steadily grow to include further A/C components.

Segment Highlights

By type, the serpentine segment dominated the market share, owing to its high efficiency in transferring heat. The serpentine segment also offers a larger surface area for cooling, allowing for more effective heat dissipation compared to traditional straight-tube condensers. Moreover, the serpentine-type condensers are specifically designed to be compact as compared to traditional condensers, making them suitable for applications where space is limited in vehicles.

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By material, the demand for aluminum segment condensers is on the rise due to aluminum condensers being more efficient at dissipating heat compared to traditional copper condensers. Additionally, aluminum condensers are significantly lighter than copper, making them more suitable for modern vehicles where weight reduction is important; they also help to improve fuel efficiency and overall vehicle performance.

By vehicle type, the passenger vehicle segment dominated the market share, owing to growth in urbanization and rise in population in cities, which are driving the need for personal mobility solutions. Additionally, changes in consumer preferences and growth in disposable income contribute to the growing demand for passenger cars. Furthermore, the rising environmental concerns toward reducing emissions from vehicles are resulting in increasing demand for electric and other alternative fuel vehicles, further contributing to the growth of the market.

By sales channel, the aftermarket segment dominated the market share, due to increase in demand for repair and maintenance of old automotive condensers. Moreover, the ageing vehicle fleet on roads requires continuous upgrades and replacement of older condensers. Furthermore, the replacement of condenser from the aftermarket is more cost-effective as compared to OEM, thus further contributing to the growth in market demand.

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Regional Outlook

The growing industrialization in countries such as China, India and other Southeast Asian countries have been experiencing rapid economic growth coupled with growth in industrialization activities, which is leading to increasing disposable income among consumers. Thus, the growth in urbanization and increase in disposable incomes are resulting in growing automobile sales, thus creating more demand for automotive condensers. Moreover, China and India are experiencing growing automobile production. As more vehicles are being produced, there has been an increase in demand for automotive condensers from automobile manufacturers.

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