Automotive Condenser Market By Type (Single Flow, Tubes and Fins, Serpentines, Parallel Flow) , By Material (Aluminum, Copper) By Vehicle Type (Passenger Vehicles, Commercial Vehicles) By Sales Channel (OEM, Aftermarket) : Global Opportunity Analysis and Industry Forecast, 2023-2032
The global automotive condenser market was valued at $6.8 billion in 2022, and is projected to reach $10.9 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.
An automotive condenser, also known as air conditioning condenser, is an essential component of a vehicle air conditioning system. The condenser works to reduce the temperature of the refrigerant during the condensation process. The automobile air conditioner holes also discharge the cold liquid that forms in the condenser when the heated temperature is effectively lowered. It plays a pivotal role in producing cool air circulated within the vehicle's cabin and increase comfort inside a vehicle cabin.
The growth of the global automotive condenser market is driven by several factors, such as increase in demand for better driving comfort in automobiles and growth in sales of automobiles. Moreover, trend toward reducing environmental impact in the automobile industry is driving the market forward. For instance, on September 11, 2023, “Everycool’’, a commercial vehicle cooling system for trucks, had been developed that improves cooling efficiency and reduces environmental impact. The new cooling system is used when a truck engine is not running. The technology achieves the dual objectives of improving driver working conditions during hot summer seasons and reducing environmental impact and promoting efficient energy utilization by lowering fuel consumption.
However, high costs and fluctuation in the price of raw materials and perception of risk restrain the development of the market. Contrarily, increase in vehicle production and sales of automobiles are anticipated to provide lucrative growth opportunity for the companies operating in the automotive condenser market. For instance, in 2022, the Society of Indian Automobile Manufacturers released a data that portrayed passenger sales in India in FY 2022-2023 accounted for 38, 90, 114 units which was around 30, 69, 523 units in 2021-2022. During the same period, the sales of commercial vehicles increased from 7, 16, 566 to 9, 62, 468 units.
Segmentation OverviewThe automotive condenser market is segmented into type, material, vehicle type, sales channel, and region. Depending on type, the market is segregated into a single flow, tubes and fins, serpentines, and parallel flow. By material, it is bifurcated into aluminum and copper. According to vehicle type, the market is fragmented into passenger vehicles and commercial vehicles. As per sales channel, the market is categorized into OEM and aftermarket. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsDepending on type, the serpentines segment accounted for the highest share in the market in 2022.
By material, the aluminum segment held the largest market share in 2022.
According to vehicle type, the passenger vehicle segment gained the maximum share in the market in 2022.
As per sales channel, the aftermarket segment acquired most of the market share in 2022.
Region wise, Asia-Pacific dominated the automotive condenser market in 2022.
Competitive AnalysisThe major players operating in the automotive condenser market include Robert Bosch GmbH, Denso Corporation, MAHLE GmbH, Hanon Systems, Marelli Corporation, Valeo SA, Subros Limited, OSC Automotive Inc, Delphi Technologies, and Koyorad. Co., Ltd. Other players in the automotive condenser market include Air International Thermal Systems, MODINE MANUFACTURING COMPANY, and Reach Cooling Group. These players have adopted several strategies to maintain their foothold in the competitive market.
Key Market SegmentsBy TypeSingle Flow
Tubes and Fins
Serpentines
Parallel Flow
By MaterialAluminum
Copper
By Vehicle TypePassenger Vehicles
Commercial Vehicles
By Sales ChannelOEM
Aftermarket
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market Players
Robert Bosch GmbH
DENSO CORPORATION
MAHLE GmbH
Hanon Systems
Marelli Corporation
Valeo SA
Subros Limited
OSC Automotive Inc
Delphi Technologies
Koyorad. Co., Ltd