Automotive Heat Exchanger Market

An automotive heat exchanger is a device that is designed for the purpose of transferring heat from one medium to another at different temperatures. These devices mostly consist of two fluids that flow close to each other and are separated by mostly metals, which have good heat transfer properties. These fluids are mainly characterized by their temperature at the entrance to the heat exchanger. It is widely used in transmission & engine coolers, industrial oil coolers, evaporators in refrigeration systems, chilled water systems, and condensers.

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The growing adoption of the HVAC system in high-end OHV and CV is providing substantial growth to the global automotive heat exchanger market. The demand for convenience functions and comfort in personal vehicles has grown significantly owing to the increase in the purchasing power, changes in customer preferences, and a rise in disposable income. Manufacturers are considering these preferences and offering enhanced convenience functions and comfort to stay in the competition. Several governments globally have introduced different policies and regulations to reduce the number of accidents as uncomfortable driving conditions have emerged as the main cause for drivers’ distraction, which leads to accidents. These factors are responsible for the growth of the global automotive heat exchanger market. Moreover, governments have mandated air conditioning systems for the cabin of commercial vehicles. On the contrary, electric vehicles do not use traditional automotive heat exchangers as they have a battery thermal management system for the cooling of the battery. The growing demand for hybrid and electric vehicles might become a restraint in the growth of the global automotive heat exchanger market.

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Based on the vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment is expected to grow at a higher CAGR over the forecast period. This is mainly due to the increase in the production of passenger cars across the globe. There has been a rise in the demand for SUVs and premium vehicles as customers have started preferring high-performance personal vehicles. These factors are significantly surging the growth of the passenger car segment in the global automotive heat exchanger market.

Based on the electric vehicle, the market is segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV). The plug-in hybrid electric vehicle (PHEV) segment is anticipated to grow at a faster CAGR over the forecast period. It is attributed to the increase in the sales of PHEVs in the U.S. and China. The increase in the adoption of electric vehicles globally plays a crucial role in propelling the growth of the plug-in hybrid electric vehicle (PHEV) segment in the global automotive heat exchanger market.

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Based on the region, Asia-Pacific region is projected to grow at a higher CAGR during the forecast period. Asia-Pacific is the largest market for automobile manufacturers owing to the presence of developing economies in this region, which includes India and China and developed nations, such as South Korea and Japan. Asia-Pacific has emerged as a hub for the production of automobiles due to the availability of cheap labor and low production costs. These factors are likely to boost the growth of the automotive heat exchanger market in Asia-Pacific.

Various notable players operating in the market include Denso Corporation, Valeo, Mahle GmbH, Marelli Corporation, T.RAD Co., Ltd., Nippon Light Metal, Sanden Holdings Corporation, Hanon Systems, Dana Limited, and AKG Group, among others. 

Key Developments:

• • In 2020, Dana Limited announced the acquisition of a portion of light-vehicle thermal business from Modine Manufacturing Company. This acquisition features the enhancement of power technologies with complementary products.
  • In 2019, Sanden Holdings Corporation announced its collaboration with Nidec for research & development of automotive thermal management systems. This collaboration aims to enhance cruising distance by the integration of air conditioning thermal management and exhaust heat from the motor.
  • In 2017, Hanon Systems expanded its product offerings to support alternative vehicles. The company applied its expertise in thermal and energy management to support automobile manufacturers supplying electric, hybrid, autonomous, and fuel cell to the global marketplace.

The global automotive heat exchanger market has been segmented on the basis of design type, vehicle type, electric vehicle, off-highway vehicle type, application, and regions. Based on design type, the market is segmented into plate bar, tube fin, and others. Based on vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. Based on electric vehicle, the market is segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV). Based on off-highway vehicle type the market is segmented into agricultural equipment and construction equipment. Based on application, the market is segmented into air conditioning systems, exhaust gas heat exchangers, intercoolers, oil coolers, and radiators. Based on region, the global automotive heat exchanger market is segmented into North America, Europe, Asia-Pacific, and roW. 

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Key questions answered in this research report:

• • At what pace is global automotive heat exchanger market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automotive heat exchanger market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive heat exchanger market?
  • Which design type generated maximum revenues in 2019 and identify the most promising design type during the forecast period?
  • What are the various application areas of global automotive heat exchanger market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Design Type, By Vehicle Type, By Electric Vehicle, By Off-Highway Vehicle Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Denso Corporation, Valeo, Mahle GmbH, Marelli Corporation, T.RAD Co., Ltd., Nippon Light Metal, Sanden Holdings Corporation, Hanon Systems, Dana Limited, AKG Group, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automotive Heat Exchanger Market by Design Type

• • Plate Bar
  • Tube Fin
  • Others

Global Automotive Heat Exchanger Market by Vehicle Type

• • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Global Automotive Heat Exchanger Market by Electric Vehicle

• • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)

Global Automotive Heat Exchanger Market by Off-Highway Vehicle Type

• • Construction Equipment
  • Agricultural Equipment

Global Automotive Heat Exchanger Market by Application

• • Air Conditioning Systems
  • Exhaust Gas Heat Exchangers
  • Intercoolers
  • Oil Coolers
  • Radiators

Global Automotive Heat Exchanger Market by Region

• • North America Automotive Heat Exchanger Market (Option 1: As a part of the free 25% customization)
    • North America Automotive Heat Exchanger Market by Design Type
    • North America Automotive Heat Exchanger Market by Vehicle Type
    • North America Automotive Heat Exchanger Market by Electric Vehicle
    • North America Automotive Heat Exchanger Market by Off-Highway Vehicle Type
    • North America Automotive Heat Exchanger Market by Application
    • US Automotive Heat Exchanger Market All-Up
    • Canada Automotive Heat Exchanger Market All-Up
  • Europe Automotive Heat Exchanger Market (Option 2: As a part of the free 25% customization)
    • Europe Automotive Heat Exchanger Market by Design Type
    • Europe Automotive Heat Exchanger Market by Vehicle Type
    • Europe Automotive Heat Exchanger Market by Electric Vehicle
    • Europe Automotive Heat Exchanger Market by Off-Highway Vehicle Type
    • Europe Automotive Heat Exchanger Market by Application
    • UK Automotive Heat Exchanger Market All-Up
    • Germany Automotive Heat Exchanger Market All-Up
    • France Automotive Heat Exchanger Market All-Up
    • Spain Automotive Heat Exchanger Market All-Up
    • Rest of Europe Automotive Heat Exchanger Market All-Up
  • Asia-Pacific Automotive Heat Exchanger Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Automotive Heat Exchanger Market by Design Type
    • Asia-Pacific Automotive Heat Exchanger Market by Vehicle Type
    • Asia-Pacific Automotive Heat Exchanger Market by Electric Vehicle
    • Asia-Pacific Automotive Heat Exchanger Market by Off-Highway Vehicle Type
    • Asia-Pacific Automotive Heat Exchanger Market by Application
    • China Automotive Heat Exchanger Market All-Up
    • India Automotive Heat Exchanger Market All-Up
    • Japan Automotive Heat Exchanger Market All-Up
    • Rest of APAC Automotive Heat Exchanger Market All-Up
  • RoW Automotive Heat Exchanger Market (Option 4: As a part of the free 25% customization)
    • RoW Automotive Heat Exchanger Market by Design Type
    • RoW Automotive Heat Exchanger Market by Vehicle Type
    • RoW Automotive Heat Exchanger Market by Electric Vehicle
    • RoW Automotive Heat Exchanger Market by Off-Highway Vehicle Type
    • RoW Automotive Heat Exchanger Market by Application
    • Brazil Automotive Heat Exchanger Market All-Up
    • South Africa Automotive Heat Exchanger Market All-Up
    • Saudi Arabia Automotive Heat Exchanger Market All-Up
    • UAE Automotive Heat Exchanger Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Automotive Heat Exchanger Market All-Up

Major Players Operating in the Automotive Heat Exchanger (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Denso Corporation
  • Valeo
  • Mahle GmbH
  • Marelli Corporation
  • RAD Co., Ltd.
  • Nippon Light Metal
  • Sanden Holdings Corporation
  • Hanon Systems
  • Dana Limited
  • AKG Group