The Automotive Heat Exchanger Market serves various applications within the automotive industry. It plays a crucial role in managing engine temperature, optimizing HVAC systems, and enhancing overall vehicle efficiency. Among these applications, the dominating segment is engine cooling systems. Engine heat exchangers are vital components for maintaining optimal engine operating temperatures, and ensuring engine longevity and performance. With increasing demands for fuel efficiency and emissions control, engine cooling systems continue to be the primary focus, driving growth in the automotive heat exchanger market.
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Data Bridge Market Research analyses that the Global Automotive Heat Exchanger Market will grow at a CAGR of 6.3% from 2022 to 2029. As automotive production increases globally, the rising number of vehicles being manufactured translates to a higher demand for heat exchangers. These essential components are integral to vehicle thermal management systems, including engine cooling and HVAC systems, ensuring optimal performance and compliance with emission regulations. This growth trend is driven by the automotive industry's expansion and the need to maintain vehicle efficiency and reliability.
Key Findings of the Study
Climate control is expected to drive the market's growth rate
Growing customer expectations for improved comfort and climate control in vehicles are driving the adoption of heat exchangers. Advanced HVAC systems require efficient heat exchangers to regulate cabin temperature effectively. Consumers seek enhanced features such as faster cooling or heating, even distribution of air, and reduced energy consumption. As a result, automakers are integrating sophisticated heat exchanger technologies to meet these demands, leading to higher usage and innovation in this segment of the automotive industry.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Intercooler, Radiator, Air Conditioning, Oil Cooler, and Others), Design Type (Tube Fin, Plate Bar, and Others), Material (Aluminium, Copper, and Others), Propulsion Type (Internal Combustion Engine (ICE) and Electric Vehicle (EV)), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle).
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Nippon Light Metal Company, Ltd. (Japan), T.RAD Co., Ltd. (Japan), Marelli Holdings Co., Ltd. (Japan), Nissens Automotive A/S (Denmark), Griffin Thermal Products (U.S.), Valeo (France), Dana Limited (U.S.), Hanon Systems (South Korea), TYC Brother Industrial Co., Ltd. (Taiwan), Clizen Inc. (South Korea), MODINE MANUFACTURING COMPANY (U.S.), DENSO Corporation (Japan), MAHLE GmbH (Germany), Constellium (Netherlands), SANDEN CORPORATION (Japan), G&M Radiator (U.S.), Mishimoto Automotive (U.S.), AKG Group (Austria), Banco Products (I) Ltd. (India), PWR Corporate (Australia)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global automotive heat exchanger market is segmented into 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 aluminium, 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.
Major Players
Data Bridge Market Research recognizes the following companies as the global automotive heat exchanger market players in global automotive heat exchanger market are Nippon Light Metal Company, Ltd. (Japan), T.RAD Co., Ltd. (Japan), Marelli Holdings Co., Ltd. (Japan), Nissens Automotive A/S (Denmark), Griffin Thermal Products (U.S.), Valeo (France).
Market Developments
- In March 2022, T.RAD Co., Ltd. introduced a range of non-domestic cooling and ventilation equipment (NACE2 2825) in North America. These products included radiators, oil-coolers, inter-coolers, EGR-coolers, evaporators, condensers, water-coils, and recuperators. This strategic move enabled the company to diversify its product offerings and increase revenue by meeting the diverse needs of the North American market. By expanding its product line, T.RAD Co., Ltd. also bolstered its sales and market presence in the region.
- In May 2022, Conflux Technology and GKN Additive unveiled a joint initiative aimed at spearheading the advancement, conceptualization, and manufacturing of state-of-the-art 3D-printed heat exchanger solutions throughout Europe. These 3D-printed heat exchangers are demonstrating their potential to revolutionize the enhancement of cooling performance in vital sectors such as electronics, automotive, aerospace, and others. This transformation is made possible by the creative design possibilities offered by 3D printing technology.
- In March 2022, Eberspaecher garnered attention at Expo Foro 2022 in Mexico by presenting its wide array of environmentally friendly and highly efficient air conditioning systems designed for buses and coaches. The spotlight was on the fifth-generation AC353, a versatile roof-mounted AC system engineered to perform exceptionally well in various climatic conditions. Eberspaecher's AC353-5 features enhancements such as an optimized condenser and improved heat exchanger design, leading to substantial reductions in weight, refrigerant usage (up to 15%), power consumption, fuel consumption, and overall increased AC system efficiency.
Regional Analysis
Geographically, the countries covered in the global automotive heat exchanger market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to dominate the global automotive heat exchanger market in the forecast period 2022-2029
In 2022, the Asia-Pacific region is poised to lead the global automotive heat exchanger market. This dominance is attributed to the region's technological advancements and the presence of numerous major market players. These factors drive the increased adoption of automotive heat exchanger products and services, meeting the rising demand for efficient heat management solutions in the automotive industry. Asia-Pacific's dynamic automotive sector positions it at the forefront of this market on a global scale.
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