The Global Automotive Heat Exchanger Market is estimated to reach USD 35.2 Billion by 2027 at a CAGR of 7.3 %, says forencis research (FSR).
A heat exchanger is a device used for allowing the transfer of heat from one medium to another at dissimilar temperatures. The heat exchanger medium consists of two fluids which flow close to each other but they are separated by material or metals which have good thermal properties. The automotive heat exchanger plays a vital role in maintaining the temperature of the engine and other vehicle components. Moreover, it is also used in cooling applications such as air conditioners. This device is used in the engine bay, exhaust gas, heating, ventilation, and air conditioning system.
Market Drivers:
Automotive heating, ventilation, and air conditioning (HVAC) are used to maintain the internal climate of the vehicle as well as heating and controlling system of engine and other components. In commercial vehicles, the need for HVAC systems is high because the engine generates high power which would need a cooling system. Commercial vehicles are used to transport perishable goods, sensitive chemicals, medical drugs and others which would need the HVAC system to maintain the life of the goods.
Thus, growing HVAC usage in commercial vehicles is expected to drive the automotive heat exchanger market during the forecast period.
Automotive manufacturers are engaged in developing innovative technologies that would provide better connectivity solutions. The development of innovative technologies is an outcome of the growing demand for luxurious and smart vehicles. Rise in demand for electric and hybrid vehicles has boosted the demand for heat exchanger, owing to EVs require better battery thermal management system. Heat exchangers such as plate-to-plate, liquid-cooled plate, are used in the electric vehicles for cooling and improving the battery life. As per the data shared by the Edison Electric Institute, in 2018, the total sales of electric vehicles in the United States raised 81%, when compared to 2017.
Thus, the growing adoption of electric vehicles has expected to drive the automotive heat exchanger market during the forecast period.
Market Restraints:
The initial cost of heat exchangers is high and in addition to it the operational, installation and maintenance cost increases the overall expenditure of this device which acts as a restraint to the market growth. Heat exchangers being a pre-requisite in the automotive applications, the overall cost of these parts is also a deciding factor to determine the overall investment returns. For instance, a premium heat exchanger system would result in low service cost and high durability which results in high service life. On the contrary, low-cost heat exchanger would result in low investments however, the overall maintenance and replacements intervals would be higher.
Thus, the high initial cost of the heat exchanger is a restraining factor for the global market growth during the forecast period.
The report on the automotive heat exchanger market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million), Volume (Units) |
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Segments Included |
Type, Design Type, Application, Vehicle Type, and Region |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Heat Exchanger Market, by Type
Automotive Heat Exchanger Market, by Design Type
Automotive Heat Exchanger Market, by Application
Automotive Heat Exchanger Market, by Vehicle Type
Automotive Heat Exchanger Market, by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Growing HVAC Usage in Commercial Vehicles
4.2.2. Growing Adoption of Electric Vehicles
4.3 Restraints
4.3.1 High Initial Cost
4.4 Opportunities
4.4.1 Increase Need for Battery Thermal Management System
4.5 Challenges
4.5.1 Stringent Emission Norms
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 AUTOMOTIVE HEAT EXCHANGER MARKET BY TYPE, Market Size in USD Million and Units (2019—2027)
6.1 Introduction
6.2 Radiator
6.3 Oil Coolers
6.4 Intercoolers
6.5 Others
7 AUTOMOTIVE HEAT EXCHANGER MARKET BY DESIGN TYPE, Market Size in USD Million and Units (2019—2027)
7.1 Introduction
7.2 Shell and Tube
7.3 Tube-Fin
7.4 Plate Bar
7.5 Double Pipe
7.6 Others
8 AUTOMOTIVE HEAT EXCHANGER MARKET BY APPLICATION, Market Size in USD Million and Units (2019—2027)
8.1 Introduction
8.2 Engine Bay
8.3 Exhaust Gas
8.4 Heating, Ventilation, and Air Conditioning (HVAC)
8.5 Others
9 AUTOMOTIVE HEAT EXCHANGER MARKET BY VEHICLE TYPE, Market Size in USD Million and Units (2019—2027)
9.1 Introduction
9.2 Internal Combustion Engine (ICE)
9.3 Electric Vehicles (EVs)
9.3.1 Battery Electric Vehicles (BEVs)
9.3.2 Plug-In Hybrid Electric Vehicles (PHEVs)
9.3.3 Hybrid Electric Vehicles (HEVs)
9.3.4 Fuel Cell Electric Vehicles (FCEV)
9.4 Others
10 AUTOMOTIVE HEAT EXCHANGER MARKET BY REGION, Market Size in USD Million and Units (2019—2027)
10.1 North America
10.1.1 US
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 Germany
10.2.2 UK
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Norway
10.2.7 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 India
10.3.3 Japan
10.3.4 South Korea
10.3.5 Rest of Asia-Pacific
10.4 Middle East & Africa
10.4.1 Saudi Arabia
10.4.2 UAE
10.4.3 Rest of Middle East & Africa
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.1 Introduction
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 DENSO CORPORATION
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 MAHLE GmbH
12.3 Valeo
12.4 Dana limited
12.5 Hanon Systems
12.6 SANDEN HOLDINGS CORPORATION
12.7 T.RAD Co., Ltd.
12.8 Nippon Light Metal Holdings Co., Ltd.
12.9 Clizen Inc.
12.10 GEA Group Aktiengesellschaft
12.11 Others
13 APPENDIX
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
