Automotive Heat Exchanger Market To Reach USD 35.2 Billion In 2027 | CAGR 7.3% - Forencis Research

Automotive Heat Exchanger Market Size, Share, Trends, Growth, Analysis, Research

Global Automotive Heat Exchanger Market: Key Highlights

  • According to the new market research report Automotive Heat Exchanger Marketby Type (Radiator, Oil Coolers, Intercoolers, and Others) by Design Type (Shell and Tube, Tube-Fin, Plate Bar, Double Pipe, and Others) by Application (Engine Bay, Exhaust Gas, Heating, Ventilation, and Air Conditioning (HVAC), and Others) by Vehicle Type (Internal Combustion Engine (ICE), Electric Vehicles and Others) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) – Global Forecast from 2020 To 2027”, the global automotive heat exchanger market is estimated to reach USD 35.2 Billion in 2027 at a CAGR of 7.3% during forecast period 2020-2027.
  • Growing HVAC usage in commercial vehicles is expected to drive the automotive heat exchanger market during the forecast period.
  • However, the high initial cost of the heat exchanger is expected to restrain the market during the forecast period.

Automotive Heat Exchanger Market

 

Global Automotive Heat Exchanger Market: Key Market Dynamics

  • Growing HVAC usage in commercial vehicles is expected to drive the automotive heat exchanger market during the forecast period
  • Rising demand for electric and hybrid vehicles, globally is expected to drive the demand for automotive heat exchangers in the battery thermal management systems. Thus, the growing adoption of electric vehicles has expected to drive the automotive heat exchanger market during the forecast period.
  • 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
  • An increased need for battery thermal management system is expected to open up new growth avenues for the automotive heat exchanger market in the near future
  • Stringent emission norms are likely to act as a challenge for market growth

Global Automotive Heat Exchanger Market: Regional Overview

  • Asia-Pacific

The Asia-Pacific region is projected to be the largest contributor to the automotive heat exchanger market owing to the growing automotive sector. The growth in the automotive sector in the region is mainly owing to the increasing demand for luxury and electric vehicles. This demand is expected to drive the market during the forecast period. Among the Asia Pacific, China is one of the prominent destinations for the automotive market, which is projected to drive the automotive heat exchanger market growth.

  • Europe           

The automotive sector plays a vital role in boosting the European economy. The growing automotive sector in the region is the prominent factor pushing the overall economy. In Europe, 19.2 million vehicles are manufactured every year as per the data shared by the European Automobile Manufacturers Association (ACEA). The rising demand for vehicle production and the demand for heating, ventilation, and air conditioning (HVAC) in Europe has boosted the automotive heat exchanger market. The prominent importing countries of heat exchangers are Germany, France, Italy, and United Kingdom.

           

Global Automotive Heat Exchanger Market: Key Players Overview

  • DENSO CORPORATION:

Denso Corporation is a Japan-based company engaged in manufacturing of automotive components and products that include airbags, ignition systems, automobile air conditioners, generators, spark plugs with iridium electrode and power steering systems. The powertrain cooling system includes a radiator which stabilizes the increased temperature and maintains overheating and thermal efficiency. Denso develops radiators that are reliable based on advanced heat exchange technology.

  • MAHLE GmbH:

MAHLE GmbH is a German-based company. The company is specialized in manufacturing automotive systems such as engine peripherals and internal combustion engines. MAHLE GmbH is expertise in developing and implementing cooling circuit solutions for interior air conditioning, engine, charge air and hybrid components such as power electronics, battery, and electric motor.

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Rep Id : AT 038

Published : 2020-02-05