Automotive heat exchangers are crucial components in vehicles, serving to manage heat generated by the engine, transmission, and various systems. They find applications in radiators, oil coolers, intercoolers, EGR coolers, evaporators, condensers, water coils, and recuperates. These heat exchangers enhance engine efficiency, protect components from overheating, and optimize cabin comfort. They work by transferring heat between fluids, such as coolant and air or refrigerant, allowing for precise temperature control. Their diverse uses and features are integral to vehicle performance, ensuring engines run efficiently and passenger comfort is maintained.
According to Data Bridge Market Research, the Global Automotive Heat Exchanger Market is expected to grow with a CAGR of 6.3% in the forecast period of 2022 to 2029.
“Emergence of electric vehicles (EVs) boosts the market’s growth”
The emergence of electric vehicles (EVs) has significantly stimulated the growth of the automotive heat exchanger market. EVs rely on advanced thermal management systems, including heat exchangers, to regulate battery temperatures, motor cooling, and cabin comfort. As the adoption of electric vehicles continues to rise due to environmental concerns and government incentives, the demand for efficient heat exchanger solutions grows in tandem, creating a substantial market opportunity for manufacturers in the automotive cooling and thermal management sector.
What restraints the growth of the global automotive heat exchanger market?
“High carbon footprint restraints the market’s growth”
The automotive sector's high carbon footprint presents a constraint on the growth of the automotive heat exchanger market. Traditional internal combustion engine vehicles, which dominate the market, emit substantial greenhouse gases contributing to climate change. This has led to increasing regulatory pressures and consumer demand for cleaner, electric vehicles. While electric vehicles require heat exchangers for thermal management, the slower transition to eco-friendly vehicles hampers the market's growth, as a substantial portion of the automotive sector still relies on less efficient, emission-intensive technologies.
Segmentation: Global Automotive Heat Exchanger Market
The global automotive heat exchanger market is segmented on the basis of application, design type, material, vehicle type, and propulsion type.
- On the basis of application, the global automotive heat exchanger market is segmented into intercooler, radiator, air conditioning, oil cooler, and others.
- On the basis of design type, the global automotive heat exchanger market is segmented into tube fin, plate bar, and others.
- On the basis of material, the global automotive heat exchanger market is segmented into aluminum, copper, and others.
- On the basis of propulsion type, the global automotive heat exchanger market is segmented into internal combustion engine (ICE) and electric vehicle (EV).
- On the basis of vehicle type, the global automotive heat exchanger market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle.
Regional Insights: Asia-Pacific will dominate the Global Automotive Heat Exchanger Market
In 2022, Asia-Pacific region will dominate the automotive heat exchanger market globally due to adoption of automotive heat exchanger products and services is on the rise in this technologically advanced region. The presence of numerous major market players fosters innovation and drives demand for advanced thermal management solutions, making the region a hotspot for automotive heat exchanger technology adoption and growth.
Recent Development
- In March 2022, T.RAD Co., Ltd. introduced cooling and ventilation equipment (NACE2 2825) from overseas into the North American market. This strategic move involved the launch of a range of products, including radiators, oil-coolers, inter-coolers, EGR-coolers, evaporators, condensers, water-coils, and recuperators. This expansion initiative resulted in increased revenue and boosted sales for the company in the North American region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-automotive-heat-exchanger-market
The Prominent Key Players Operating in the Global Automotive Heat Exchanger Market Include:
- DENSO CORPORATION (Japan)
- MAHLE GmbH (Germany)
- VALEO (France)
- Hanon Systems (South Korea)
- T.RAD Co., Ltd. (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global automotive heat exchanger market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Automotive Heat Exchanger Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
