Opportunity Assessment of Automotive Condenser Market Reveals Lucrative Prospects for Manufacturers
Persistence Market Research has published a new report titled “Automotive Condenser Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)” that tracks the performance of the global automotive condenser market for a period of eight years from 2017 to 2025. According to this report, manufacturers are focusing on the introduction of new application-specific product offerings in order to better address customer specific requirements. Moreover, market players are found to be directing their efforts towards strengthening their distribution channels while focusing on direct sales. One of the key insights from the report focuses on the strategies employed by market companies to enhance 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 a steadfast focus on vehicle safety. The global automotive condenser market is anticipated to grow at a CAGR of 4.9% during the projected period.
Global Automotive Condenser Market: Trends
- Growing life-span of used automobiles to boost the aftermarket sales of automotive condensers, especially in the North America market
- Use of aluminum material condenser is one of the prominent trends in the global automotive condenser market
- Manufacturers are focusing on providing high quality automotive condensers in the global market
- Automotive condenser manufacturers are engaged in extensive research and development activities to fulfill the demands of consumers
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Global Automotive Condenser Market: Forecast by Material
By material type, the global automotive condenser market is segmented into copper, brass, aluminum and stainless steel. Aluminum segment is estimated to be most attractive segment by material. The aluminum 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. The aluminum segment is estimated to dominate the global automotive condenser market with 81.3% market value share during the assessed period.
Global Automotive Condenser Market: Forecast by Type
The type segment of the global automotive condenser market comprises single flow, tube & fin, serpentine, parallel flow and sub cool flow. 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. Sales revenue of the parallel flow segment is estimated to be valued at US$ 10,119.6 Mn by 2025 end.
Global Automotive Condenser Market: Forecast by Sales Channel
OEM and aftermarket are the two segments included in the segmentation by sales channel. The OEM segment is estimated to hold more than 90% of the total market value share during the forecast period. The OEM segment is expected to create a total incremental opportunity of US$ 3,819.2 Mn between 2017 and 2025.
Global Automotive Condenser Market: Forecast by Vehicle Type
By vehicle type, the global automotive condenser market is segmented into passenger car, LCV, and HCV. The passenger car segment is anticipated to provide increased opportunities in the global market, owing to the growing consumer preference for advanced automotive condensers.
Global Automotive Condenser Market: Forecast by Region
The five geographies of North America, Latin America, Europe, APAC and MEA have been covered in this report. 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 forecast period. Developed regions are projected to hold significant market share in the global automotive condenser market with a large contribution expected from North America and Europe. The market in these regions is anticipated to grow substantially in terms of value and volume over the forecast period.
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Global Automotive Condenser Market: Key Players
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.