According to MarkNtel Advisors, the Global Automotive Air Conditioner Orifice Tube Market is expected to witness around 5.43% CAGR during 2022-27. The need to balance cooling flow is crucial for the proper functioning of air conditioners (ACs) in automobiles. Orifice tube helps control the flow of the refrigerant, which is a critical component of an automotive air conditioning system. It enables a high or low flow of refrigerant as per the cooling requirements set by users.
The surging income levels & purchasing power of consumers are encouraging them to spend more on their comfort by buying a vehicle instead of using public transport. Hence, the increasing vehicle production & sales are infusing the demand for Orifice Tubes and, in turn, driving the global market.
Further, the burgeoning demand for both passenger & commercial cars equipped with advanced features also contributes to the overall market growth. Additionally, rising temperature in many parts of the world is also accelerating the demand for AC installations in vehicles and driving the global market, further states the research report, “Global Automotive Air Conditioner Orifice Tube Market Analysis, 2022.”
Passenger Vehicles Acquire the Largest Share of the Global Automotive Air Conditioner Orifice Tube Market
The increasing disposable income, availability of easy car financing options, and the booming demand for comfort & convenience among people due to their inclination toward quality living standards are the prime aspects fueling passenger vehicle sales worldwide. As a result, the demand for manufacturing more orifice tubes is also rising.
Moreover, rapid innovations in AC systems and other comfort features in passenger vehicles to satisfy the increasing demand for convenience among passengers are other critical aspects expected to offer lucrative growth opportunities to the market in the coming years.
“Global Automotive Air Conditioner Orifice Tube Market Analysis, 2022” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
Asia-Pacific to Witness the Fastest Market Growth through 2027
The rapidly developing automobile industry and the large-scale production of vehicles across Asia-Pacific are driving the regional market through 2027. In addition to this, increasing demand for vehicle ownership, surging disposable income of people across China, India, & South Korea, and consumers preferring more comfortable & high specification vehicles are other crucial factors contributing to the regional market growth.
According to MarkNtel Advisors, the leading industry players in the Global Automotive Air Conditioner Orifice Tube Market are Global Air, Inc., Valeo, TORALIN, BorgWarner, Indus Motors Company Pvt. Ltd., Danhard, Inc. FJC Inc.
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