Europe Liquid Storage Tank for Automotive Air Conditioner Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.65 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The European market for liquid storage tanks used in automotive air conditioners is experiencing significant growth, driven by advancements in vehicle climate control systems and stringent environmental regulations. These tanks play a crucial role in storing refrigerants, ensuring efficient and eco-friendly air conditioning performance in vehicles.
Market Overview
In 2023, Europe contributed approximately 15% to the global revenue of liquid storage tanks for automotive air conditioners. The market is characterized by a diverse range of manufacturers, product types, and applications, catering to various consumer needs and preferences. This diversity is essential for meeting the evolving demands of both passenger and commercial vehicles.
Types of Liquid Storage Tanks
Aluminum Liquid Storage Tanks: Held the largest share in 2023, accounting for about 55% of the market. Their popularity is attributed to their superior corrosion resistance and lightweight properties, making them ideal for automotive applications.
Steel Liquid Storage Tanks: Represented approximately 30% of the market share in 2023. Known for their durability and strength, they are commonly used in various vehicle models.
Plastic Liquid Storage Tanks: Projected to be the fastest-growing segment, with an annual growth rate of 8% during the forecast period. Their lightweight and cost-effective nature are driving their increasing adoption in the automotive industry.
Application Segments
Passenger Vehicles: Accounted for around 60% of the market share in 2023. The rising production of energy-efficient cars equipped with advanced HVAC systems is fueling the demand for liquid storage tanks in this segment.
Commercial Vehicles: Held a 25% share in 2023. The expansion of logistics and transportation sectors across Europe contributes to the steady growth of this segment.
Electric Passenger Vehicles: Expected to be the fastest-growing sub-segment, driven by the global shift towards electric mobility and sustainable technologies. The need for efficient air conditioning systems in EVs is increasing the demand for specialized liquid storage tanks.
Market Drivers
Increasing Vehicle Production: The growing demand for vehicles, especially in emerging economies, leads to a higher need for effective air conditioning systems and, consequently, liquid storage tanks.
Environmental Regulations: Stricter environmental standards are prompting automakers to adopt energy-efficient refrigerants, influencing the design and material requirements of liquid storage tanks.
Electric Vehicle Adoption: The rise of EVs necessitates advanced air conditioning solutions that do not compromise battery life, boosting the demand for specialized liquid storage tanks capable of handling new refrigerants and operating conditions.
Market Challenges
Manufacturing Costs: Developing tanks that can withstand the pressures and temperatures associated with modern refrigerants involves high manufacturing costs, posing challenges for manufacturers, especially in the budget vehicle segment.
Regulatory Compliance: Adhering to evolving environmental standards adds complexity and costs to the production of liquid storage tanks, requiring continuous investment in research and development.
Raw Material Price Fluctuations: Variability in the prices of raw materials, such as aluminum and steel, can impact production costs and affect the pricing strategies of manufacturers.
Future Outlook
The European market for liquid storage tanks in automotive air conditioners is projected to grow at a compound annual growth rate (CAGR) of 6% during the forecast period. The shift towards sustainable refrigerants, integration of smart technologies, and the expansion of the electric vehicle market are expected to drive innovation and demand in this sector. Manufacturers are focusing on developing lightweight, durable, and environmentally friendly tanks to meet the evolving requirements of the automotive industry.
Get an In-Depth Research Analysis of the Europe Liquid Storage Tank for Automotive Air Conditioner Market Size And Forecast [2025-2032]
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DENSO CORPORATION
Valeo
Sanden Corporation
HANON
MAHLE GmbH
Hitachi
Delphi Corporation
Zhejiang Sanhua Intelligent Controls
Songz Automobile Air Conditioning
Aotecar New Energy Technology
Zhejiang Yinlun Machinery
Henan Xixia Automobile Water Pump
Zhejiang Yingyi Machinery
Ningbo Zhongjie Automobile
Changzhou Tenglong Auto Parts
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Liquid Storage Tank for Automotive Air Conditioner Market
Vertical Tanks
Horizontal Tanks
Underground Tanks
Above-ground Tanks
Steel Tanks
Plastic Tanks
Glass-Fiber Reinforced Plastic (GRP) Tanks
Aluminum Tanks
Passenger Vehicles
Commercial Vehicles
Heavy-Duty Vehicles
Electric Vehicles
Less than 100 Liters
100 to 500 Liters
500 to 1000 Liters
More than 1000 Liters
Automotive Manufacturing
Automotive Repair and Maintenance
Research and Development Labs
Transportation and Logistics
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Liquid Storage Tank for Automotive Air Conditioner Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Liquid Storage Tank for Automotive Air Conditioner Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Liquid Storage Tank for Automotive Air Conditioner Market, By Type
6. Europe Liquid Storage Tank for Automotive Air Conditioner Market, By Application
7. Europe Liquid Storage Tank for Automotive Air Conditioner Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Liquid Storage Tank for Automotive Air Conditioner Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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