Automotive heat exchanger market is estimated to be USD 19.21 billion in 2017 and is projected to reach USD 32.05 billion by 2025, growing at a CAGR of 6.61% from 2017 to 2025. Market growth is primarily driven by the increasing demand for HVAC system in high-end commercial vehicles and off-highway vehicles.
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The ecosystem of automotive heat exchanger market for automotive consists of automotive heat exchanger manufacturers such as Denso (Japan), Mahle (Germany), Dana (US), Valeo (France), Hanon (South Korea), Calsonic Kansei (Japan), and Sanden (Japan). The automotive heat exchangers are supplied to the automotive OEMs.
Key Target Audience
- Automotive heat exchanger manufacturers
- Automotive component manufacturers
- Automotive powertrain manufacturers
- Engine cooling system manufacturers
- Battery thermal management system manufacturers
- Exhaust system manufacturers
- Industry associations and experts
The air conditioning system segment is estimated to hold the largest market share in the global automotive heat exchanger market, by application.
With the growing demand for comfort and convenience, the adoption of these systems is increasing in commercial vehicles. This is prompting the growth of the air conditioning system segment in the automotive heat exchanger market.
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Automotive heat exchanger market for plate bar heat exchanger segment is estimated to grow at the highest rate during forecast period. This type mostly used in commercial and off-highway vehicles, which require a high degree of durability.
Factors such as development of infrastructure and increasing demand for commercial vehicles for freight transport are driving growth of the plate bar segment.
The study contains insights provided by various industry experts, ranging from automotive heat exchanger manufacturers to automobile OEMs and various automotive associations.
The break-up of the primaries is as follows:
- By Company Type: Tier I–63%, Tier II–25% and OEMs–12%
- By Designation: C Level–38%, D Level–37% and Other –25%
- By Region: Asia Pacific–38%, Europe–12%, North America–50%
Asia Pacific is estimated to be the fastest growing market for automotive heat exchangers during the forecast period. Region is home to emerging economies such as China and India as well as developed nations such as Japan.
Growing purchasing power of consumers has triggered the demand for automobiles in region. Growing number of luxury vehicles & increasing demand for commercial and off-highway vehicles are propelling growth of automotive heat exchangers in the region.
The report covers the automotive heat exchanger market by application (Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, & Radiator), Design Type (Plate Bar, Design Type & Others), Electric Vehicle Type (BEVs, HEVs, & PHEVs), Off-Highway vehicle (Agriculture Equipment & Construction Equipment), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) and region (Asia Pacific, Europe, North America, and Rest of the World).
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