Global Gas Charger Market was valued at USD 3.5 billion in 2019, which is expected to reach USD 25.7 billion by 2027, with 25.9 % CAGR from 2020 to 2027.
Gas chargers are used for recycling, recovery, vacuum, leak testing, and recharging of an automobile. Gas charger plays an important role in recovery line to remove moisture & acidity as well as manual air purge from refrigerant tank. Gas chargers offer high protection for the compressor by means of dedicated gauge so as to maintain inlet pressure inside the vehicle. Continuous and rapid developments in automobile sector is expected to drive the global gas charger market growth over this forecast period.
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Increase in demand of gas charger in automobile sector is expected to boost the global gas charger market growth. Gas chargers are popular in automobile sector due to its features such as versatile structure, less connections, strongly permeability, absorbent in vibration, improved crash integrity along with superior cooling and recycling properties. Furthermore, increase in demand for sales of commercial vehicles is expected propel the growth of global gas charger market growth. Moreover, increase in number of commercial vehicle is expected to fuel the global gas charger market growth.
Asia Pacific is expected to significant growth in Gas Charger Market during this forecast period due to increase in demand for gas charger in automobile industry. This region holds various key competitors such as Honda, Hyundai, and Toyota. Furthermore, rapid industrialization in developing countries such as India, and China is the major driving factor for gas charger market. North America is expected to hold significant market share in gas charger market. Also, Europe is anticipated to hold prominent market share in Gas Charger Market during this forecast period.
However, lack of standardization in charging infrastructure is the major restraining factor which is expected to hamper the global gas charger market. Also, increase in demand for electrical vehicles and increase in prices of fuel will affect the global gas charger market growth. Additionally, rise in base metal prices is expected to hinder the global gas charger market growth.
Market Key Players
Various key players are discussed in this report such as Manatec, Tecarpes, Apex Equipments, Vanjax & Mafra, Fourwin, Sulco Ltd, Force Auto Solutions, Robert Bosch GmbH,and Pramukh Equipments
By Product Type
- Semi automatic
- Fully automatic
By Vehicle Type
- Passenger vehicles
By Fuel Type
- Compressed Natural gas
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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