According to The Business Research Company’s Automotive Heat Exchanger , The automotive heat exchanger market size has grown strongly in recent years. It will grow from <b>$26.4 billion in 2023 to $28.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. </b> The growth in the historic period can be attributed to rise in automotive production, development of internal combustion engines, adoption of radiator technology, advances in heat exchanger materials, demand for improved vehicle performance.
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The automotive heat exchanger market size is expected to see strong growth in the next few years. It will grow to <b>$38.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. </b> The growth in the forecast period can be attributed to transition to electric and hybrid vehicles, increasing focus on energy efficiency, integration of advanced cooling systems, emphasis on sustainable manufacturing, growth in autonomous vehicle technology. Major trends in the forecast period include technological advancements in automotive industry, integration of smart sensors for real-time monitoring, emphasis on thermal management for electric vehicles, adoption of advanced manufacturing techniques.The increasing production of commercial and passenger vehicles is significantly contributing to the growth of the automotive heat exchanger market. Passenger vehicles are automobiles that are used to transport passengers, whereas commercial vehicles transport a larger number of people for business purposes. The high production of automobiles requires a large number of automotive parts, including automotive heat exchangers, to be installed in the new vehicle, thereby promoting the automotive heat exchanger market’s growth. For instance, according to the China Association of Automobile Manufacturers, the production of passenger vehicles was approximately 21.408 million in 2021, up 7.1% year on year. Therefore, the increasing production of commercial and passenger vehicles is expected to propel the growth of the automotive heat exchanger market going forward.
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The automotive heat exchanger market covered in this report is segmented –
1) By Design Type: Tube Fin, Plate Bar, Other Design Types
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Electric Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)
4) By Application: Radiators, Oil Coolers, Intercoolers, Air Conditioning Systems, Exhaust Gas Heat Exchangers, Other ApplicationsProduct innovations have emerged as a key trend in the automotive heat exchanger market. Major companies operating in the automotive heat exchanger sector are focused on developing innovative heat exchangers to reinforce their position. For instance, in January 2022, Conflux Technology, an Australia-based additive manufactured heat exchanger expert company, is developing the most advanced additively manufactured 3D printed heat exchanger designs using metal 3D printing technology in partnership with Dallara. It is a small heat exchanger that meets stringent quality, performance, and cost targets. The 3D printed heat exchanger is highly efficient in terms of thermal exchange, pressure drop, and weight.The automotive heat exchanger market report table of contents includes:
1. Executive Summary
2. Automotive Heat Exchanger Market Characteristics
3. Automotive Heat Exchanger Market Trends And Strategies
4. Automotive Heat Exchanger Market – Macro Economic Scenario
5. Global Automotive Heat Exchanger Market Size and Growth
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26. South America Automotive Heat Exchanger Market
27. Brazil Automotive Heat Exchanger Market
28. Middle East Automotive Heat Exchanger Market
29. Africa Automotive Heat Exchanger Market
30. Automotive Heat Exchanger Market Competitive Landscape And Company Profiles
Top Major Players:
- Nippon Denso Co Ltd
- MAHLE GmbH
- Valeo SA
- Hanon Systems Co Ltd
- Dana Ltd
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