Automotive condenser is a part of heating, ventilation, and cooling (HVAC) system, which is a series of thin tubes with fins that releases the heat of the coolant in the atmosphere. Moreover, condensers release heat into the atmosphere instead of absorbing it; the function of the automotive condenser is similar to automotive evaporators. Automotive condensers are installed above them in vehicles and look very similar to automotive radiators. Smart heating, ventilation, and cooling (HVAC) systems installed to use these sensors to automatically adjust accordingly as per weather and surrounding changes. Due to the introduction of advanced material technology, many materials such as superalloys, lightweight aluminum, and high stainless steel are light in weight and have high strength & load capacity. Materials used in advanced material technology have high corrosion resistance, are lightweight, and use anti-fouling paints. This feature increases the durability and longevity of automotive condensers and HVAC systems. Moreover, owing to being lightweight, it helps automobiles to accelerate with less energy, which is expected to fuel the growth of the global automotive condenser market over the coming years.
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COVID-19 scenario analysis:
- Gaining back the same flow of goods in the market is certainly a major challenge, due to the slow restarting of operation the plants and the suppliers may have to wait for a long time to revive the demand back into the market.
- The impact of the coronavirus will affect the sales of automobiles in every country, which will impact the electric transporters market as well.
- The deadly virus has destroyed the supply chain of many markets and it will take some time to revive back.
- The safety and security feature has to be improved after the lockdown, which may benefit the absorption market due to the virus.
- Due to producers cutting output on signs of increasing demand all over the globe imposed to counter the coronavirus pandemic.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include preference of the young generation toward sports cars combined with increase in demand for better driving comfort. However, high cost, inflexible design, bulky form factor, less durability, corrosion-prone feature, fatigue, and evaporation of refrigerant emission are the factors that challenge the growth of the market. Furthermore, comfort features that are affordable & easy on the pocket of the customers are expected to offer lucrative opportunities for the market growth during the forecast period.
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The automotive condenser market trends are as follows:
Preference of the young generation toward sports cars
The demand for the automotive condenser is anticipated to increase significantly during the forecast period owing to the increase in preference of the young generation toward sports cars & other fast vehicles combined with the rise in the production of vehicles in the automotive industry globally. Moreover, automotive radiators are installed in all air-conditioned vehicles. Therefore, the rise in the number of vehicles with air conditioning systems in developing regions is anticipated to boost the automotive condenser market growth during the forecast period.
Increase in demand for better driving comfort
Automotive condensers are prone to external blockage due to the collection of foreign particles on the fin of the condensers, which reduces the efficiency of the heating, ventilation, and cooling (HVAC) system. The customers are seeking luxury and comfort with the increase in urbanization in most developing economies. Moreover, the growing lifespan of automobiles by the customers is expected to boost the aftermarket sales of the automotive condensers market. In addition, manufacturers are focusing on providing high-quality automotive condensers across the globe. They are also engaged in extensive research & development activities to fulfill the requirements of the consumers which is expected to further boost the growth of the automotive condenser market during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the automotive condenser industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the automotive condenser market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive condenser market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed automotive condenser market analysis based on competitive intensity and how the competition will take shape in the coming years.
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