Global Automotive Condenser Market to Grow at 4.9% CAGR through 2025

The global automotive condensers market is projected to grow at a CAGR of 4.9% during the assessment period, and reach a valuation of over US$ 12 Bn by the end of 2025. These insights are according to a new research report titled “Global Market Study on Automotive Condensers: Passenger Cars to Zoom Past LCVs and HCVs in Terms of Revenue Growth During 2017 – 2025” that has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE).

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The report offers holistic insights and analysis on the global automotive condensers market, highlighting the key drivers, restraints, opportunities, and trends that are shaping global demand. According to the report, high maintenance cost of automotive condensers, combined with inflexible and bulky design are some of the key factors impeding the growth of the market. The report also opines that evolving government regulations and high cost will continue to create challenges for widespread adoption of automotive condensers during the assessment period.

Demand for Automotive Condensers in Passenger Cars Likely to Remain Robust

The passenger car segment is likely to witness higher adoption of automotive condensers during the assessment period. According to the report, automotive condensers in passenger cars are likely to account for nearly US$ 6.5 Bn in revenues in 2017. This segment is likely to grow at a CAGR of 5.2% during the assessment period. In terms of revenue share, the passenger car segment accounts for over three-fourth revenue share of the market.

Aluminum Remains the Sought-After Material in Manufacture of Automotive Condensers

The key raw materials used for manufacturing automotive condensers include brass, aluminum, copper, and stainless steel. Among these, demand for aluminum is the highest, with this material type accounting for over 80% revenue share of the market. Aluminum is lightweight, and offers a host of features such as aesthetics and high conductivity. Due to these factors, the demand for aluminum has remained high in the manufacture of automotive condensers.

On the basis of type, the key report has categorized automotive condensers into sub cool flow, single flow, parallel flow, tube & fin, and serpentine. Among these, parallel flow automotive condensers are likely to remain lucrative during the assessment period, and surpass US$ 10 Bn in revenues by the end of the forecast period.

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Sales of Automotive Condensers to Remain Concentrated in OEM Channel

Sales of automotive condensers are likely to remain concentrated in OEM channel. This segment accounts for over 90% revenue share of the market, and it is expected that demand will continue to remain significant through this channel during the assessment period.

APAC to Remain Prominent Regional Market for Automotive Condensers

Asia Pacific is likely to remain one of the prominent markets for automotive condensers during the assessment period. The market in APAC is likely to be driven by steady automotive sales in the region. China and India are likely to remain lucrative markets for automotive condensers during the assessment period.

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This release was published on openPR.