The global automotive heat exchanger market size is expected to grow from $21.75 billion in 2021 to $24.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global automotive heat exchangers market size is expected to grow to $32.05 billion in 2026 at a CAGR of 7.4%.
What is the Global Automotive Heat Exchanger Market?
The automotive heat exchanger market consists of sales of automotive heat exchangers by entities (organizations, sole traders, partnerships) that are used to remove heat from the automotive mechanical systems. The automotive heat exchanger is a device designed for the automobile industry that allows heat to be transferred between two mediums at different temperatures. The mediums consist of fluids that are separated by a material such as metals with heat transfer properties and flow close to each other.
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What drives the Global Automotive Heat Exchanger Market?
The increasing production of commercial and passenger vehicles is significantly contributing to the growth of the automotive heat exchanger market. Passenger vehicles are automobiles that are used to transport passengers, whereas commercial vehicles transport a larger number of people for business purposes. The high production of automobiles requires a large number of automotive parts including automotive heat exchangers to be installed in the new vehicle, thereby promoting the automotive heat exchanger market growth. For instance, according to the China Association of Automobile Manufacturers, the production of passenger vehicles was approximately 21.408 million in 2021, up 7.1% year on year. Therefore, the increasing production of commercial and passenger vehicles is expected to propel the growth of the automotive heat exchanger market going forward.
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Global Automotive Heat Exchanger Market Segments
The global automotive heat exchanger market is segmented:
By Design Type: Tube Fin, Plate Bar, Others
By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
By Electric Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)
By Application: Radiators, Oil Coolers, Intercoolers, Air Conditioning Systems, Exhaust Gas Heat Exchangers, Others
By Geography: The regions covered in the automotive heat exchanger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Heat Exchanger Global Market Report 2022provides market size and growth forecasts for the global automotive heat exchanger market, global automotive heat exchanger market share, automotive heat exchanger market segments and geographies, automotive heat exchanger market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive heat exchanger market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Heat Exchanger Industry Playersinclude DENSO Corporation, MAHLE GmbH, Valeo, Hanon Systems, Dana Limited, AKG Group, American Industrial Heat Transfer Inc., Alfa Laval AB, Banco Products (India) Ltd., Climetal S.L., Clizen Inc., Constellium SE, G&M Radiator, API Heat Transfer, and Robert Bosch GmbH. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
