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A heat exchanger is a component which allows the transfer of heat from one medium to another at varying temperatures. In most common automotive heat exchangers, the two mediums contain fluids, which flow close to each other but separated by a metal having good heat transfer properties.
Out of the two fluid in the two different mediums, one is hot and the other a cold fluid. When the temperature of the hot liquid rises, the heat of this liquid is passed on to the cold fluid through the heat exchanger, thereby increasing the temperature of the cold fluid and decreasing the same of the hot fluid.
Increasing production of vehicles and rising demand for passenger vehicles is a major driving factor for the automotive heat exchanger market. In addition, rising trend of engine downsizing coupled with advancement in light weight automotive materials and rising application of heat exchangers in hybrid and electric vehicles are the major factors driving the growth of global automotive heat exchanger market.
Moreover, growth in the automotive sector and rising investments in automotive heat exchanger manufacturing companies across the world is set to influence the market significantly during the forecast period. The two major inhibiting factors for the global automotive heat exchanger market are the volatility in the prices of raw materials and complexity in designing of advanced and light weight heat exchangers.
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The automotive heat exchanger market can be classified by type, by application and by geography. The type segment can be classified into radiator, oil cooler and intercooler.
By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
In the automotive heat exchanger market, Asia Pacific holds the largest market share in terms of revenue followed by North America, Europe, Latin America and, Middle East and Africa (MEA). In the Asia Pacific region, countries such as China and India has been witnessing heavy demand and production for passenger vehicles.
This in turn is increasing the application of automotive heat exchangers in passenger vehicles of above mentioned countries. In North America, the U.S. is the largest market for automotive heat exchanger.
The U.S. is the second largest manufacturer of automobiles in the world. In Europe, Germany is the most significant market and the largest contributor to the automotive heat exchanger market in the region because of the presence of major automobile manufactures in Germany.
The growth rate of automotive heat exchanger market in Latin America, and Middle East and Africa is low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector and investments in automobile companies of Latin America and Middle East and Africa, the market for automotive heat exchanger is expected to improve in the coming years.
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players.
In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before.
Key players in the global automotive heat exchanger market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Robert Bosch GmbH, Denso Corporation, Valeo SA, Mahle GmbH, Alfa Laval AB, Gunter GmbH & Co.
KG, API, Danfoss A/S, SPX Corporation, SGL Carbon Technic LLC, GEA Group and Tranter Inc. among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.
The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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