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Dec 04, 2020 (Market Insight Reports) —
Selbyville, Delaware Global Automotive Condenser Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Automotive Condenser Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Automotive Condenser market and provides information regarding the revenue for the period 2020 to 2027.
Global Automotive Condenser Market is valued approximately USD 8.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.4 % over the forecast period 2020-2027. The automotive condenser is part of the HVAC system (Heating, Ventilation and Cooling). It is a series of thin tubes with fins releasing the coolant heat into the atmosphere. The role of the automotive condenser is similar to automotive evaporators except, instead of storing it, condensers emit heat into the atmosphere. Automotive condensers look very similar to automotive radiators and are mounted in automobiles above. Demand for an automotive condenser is expected to increase significantly owing to the increase in vehicle production in the automotive industry.
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Young generation ‘s preference for sports cars and other fast vehicles is likely to drive the global automotive condenser market over the forecast period. All air-conditioned automobiles have car radiators mounted. Increasing the number of vehicles with air conditioning systems in developing regions is therefore likely to fuel the demand for automotive condensers. Due to the accumulation of foreign particles on the end of the condensers, automotive condensers are prone to external blockage which reduces the efficiency of the HVAC system. In addition, extreme condenser blockage may be fixed by removing the condenser, so the production of better solutions to reject heat from the HVAC device into the atmosphere is likely to hamper the demand for automotive condensers. The market primarily driven by Increasing demand for Passenger Cars. For instance: According to International Organization of Motor Vehicle Manufacturers, in 2018, 70498388 units care were produced as compare to 73456531 units in 2017. However, The cost of installing and producing a condenser for automobiles varies from use to use. Since customized applications which require more equipment and high-resistance materials, the cost of customized condensers is higher than conventional automotive condensers due to high production costs. All of these factors are restating the global condenser automobile market.
The regional analysis of global Automotive Condenser Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Adoption of advanced technology leads consumers’ tendency towards automation. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and high production of vehicles would create lucrative growth prospects for the Automotive