Increasing Use of Smart HVAC Systems in Passenger and Commercial Vehicles Driving Sales of Advanced Automotive Condensers

ROCKVILLE, MARYLAND, UNITED STATES, May 30, 2024 /EINPresswire.com/ -- Gone are the days when air conditioning in cars was a luxury. Whether it is heating or cooling, these systems have become an integral part of our vehicles today, which has, in parallel, made automotive condensers also a necessity. A new study by Fact.MR reveals that the global automotive condenser market is estimated at US$ 11.19 billion in 2024 and is projected to reach US$ 17.05 billion by the end of 2034.

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Smart heating, ventilation, and air conditioning (HVAC) systems utilize sensors to make temperature adjustments automatically based on weather conditions and surroundings. Use of advanced manufacturing materials is revolutionizing the market for automotive condensers. Materials such as super alloys, lightweight aluminum, and high-strength stainless steel are now being used to manufacture condensers due to their low weight, high corrosion resistance, and durability. Lightweight components are enhancing fuel efficiency and overall vehicle performance.

Key Takeaways from the Market Study

Sales of automotive condensers across the world are expected to reach US$ 11.19 billion in 2024.

The market is forecasted to touch US$ 17.05 billion by the end of 2034.

Sales of automotive condensers in the United States are set to reach a value of US$ 1.78 billion in 2024.

China occupies 80% of the East Asia market share in 2024.

Sales of automotive condensers in Japan are estimated to touch US$ 658.8 million in 2024.

The East Asia market is projected to expand at a CAGR of 5.1% over the next 10 years.

“Market growth is being driven by factors such as technological advancements in cooling systems, need for compliance with environmental regulations, and the global shift towards electric vehicles, which is creating lucrative opportunities for industry players,” says a Fact.MR analyst.

Sales of Lightweight Automotive Condensers Increasing Worldwide Due to Stringent Emission Regulations

North America is projected to hold a major market share due to the rising demand for technologically advanced vehicle components for enhanced fuel efficiency. Similarly, the market in the Asia Pacific region is forecasted to exhibit significant growth as a result of the growing automobile industry in countries like China and India. Due to stringent environmental laws and the rising popularity of electric vehicles, sales of automotive condensers are increasing in Europe as well.

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Competitive Landscape

Key players in the automotive condenser market are Delphi, Mahle, T.RAD, Modine, Nanning Baling, Tata, Hanon Systems, DENSO, and Sanden.

Hanon Systems' automotive compressor plant in Palmela, Portugal, has accomplished a key manufacturing milestone, having produced over 500,000 electric compressors (e-Compressors) designed exclusively for use with the environmentally benign refrigerant R744. Hanon Systems is a top global provider of automotive thermal and energy management solutions.

Explore More Related Studies Published by Fact.MR Research:

Automotive Cabin Air Filter Market: Valued at USD 4.65 billion in 2022, is projected to grow at a CAGR of 6.2% and reach USD 9.1 billion by 2033.

Automotive Filter Market: The global automotive filter market, valued at USD 17.0 billion, is expected to grow 4.0% in 2022 to USD 17.77 billion. From 2022 to 2032, it is projected to grow at a 4.5% CAGR, reaching USD 27.59 billion.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the automotive condenser market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the automotive condenser market study based on type (single flow, tubes & fins, serpentines, parallel flow), material (copper, brass, aluminum, stainless steel), vehicle (passenger cars, LCVs, HCVs), and sales channel (OEMs, aftermarket) across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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