Automotive Heat Exchanger Market Research Report Forecast, till 2027

 Automotive Heat Exchanger Market

Automotive Heat Exchanger Market size is predicted to touch 36,568 million by 2027, owing to the growing adoption of convenience features such as HVAC systems in luxury vehicles.

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An automotive heat exchanger refers to a device that transfers heat from one medium to another at different temperatures. Growth in the automotive heat exchanger market is directly influenced by the automobile industry. Thus, a steady increase in the demand for automobiles will propel market growth. With the growing incidences of accidents, government across the nation has enforced strict norms to reduce distraction caused due to inconvenient driving experience. Thus, producers have incorporated improved comfort and convenience features to maintain their competitiveness in the market.

However, as per the Automotive Heat Exchanger Market research, the growing demand for hybrid and electric vehicles might hamper the market growth as the electric vehicles have an incorporated battery thermal management system for colling, and they don't use a conventional automotive heat exchanger.

By vehicle type, the passenger car segment is projected to witness a significant boom over the forecast period, owing to the rising demand for exclusive and SUVs vehicles as customers are inclined toward better-performing personal vehicles. Further, the Automotive Heat Exchanger Market report projects that the increasing production of passenger cars will further strengthen the market growth.

By electric vehicle, the plug-in hybrid electric vehicle (PHEV) segment is expected to seize a larger share over the forecast period, owing to the accelerating sales of PHEVs in the U.S. and China. Further, the rising deployment of electric vehicles globally plays a major role in strengthening the market growth.

By region, Asia-Pacific region will expand at a higher rate during the forecast period, owing to the existence of emerging economies in this region, such as India and China. Also, the accessibility of cost-efficient labor and low production costs have made the region a hub for producing automobiles, thereby driving the Automotive Heat Exchanger Market Share.

Leading players operating notable players operating in the market include Valeo, Mahle GmbH, Marelli Corporation, T.RAD Co., Ltd., Denso Corporation, Sanden Holdings Corporation, and Nippon Light Metal, Hanon Systems, Dana Limited, and AKG Group.

Key Developments:

In 2020, Dana Limited adopted a portion of the light-vehicle thermal business from Modine Manufacturing Company for the development of power technologies with complementary products.

In 2019, Sanden Holdings Corporation collaborated with Nidec for the research & development of automotive thermal management systems. This intends to improve cruising distance by incorporating air conditioning thermal management and exhaust heat from the motor.

Automotive Heat Exchanger Market Segmentation:

Automotive Heat Exchanger Market by Design Type

·         Plate Bar

·         Tube Fin

·         Others

Automotive Heat Exchanger Market by Vehicle Type

·         Passenger Car

·         Light Commercial Vehicle

·         Heavy Commercial Vehicle

Automotive Heat Exchanger Market by Electric Vehicle

·         Battery Electric Vehicle (BEV)

·         Hybrid Electric Vehicle (HEV)

·         Plug-In Hybrid Electric Vehicle (PHEV)

Automotive Heat Exchanger Market by Off-Highway Vehicle Type

·         Construction Equipment

·         Agricultural Equipment

Automotive Heat Exchanger Market by Application

·         Air Conditioning Systems

·         Exhaust Gas Heat Exchangers

·         Intercoolers

·         Oil Coolers

·         Radiators

Automotive Heat Exchanger Market by Region:

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

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