Automotive Heat Exchanger Market -Insights, Forecast to 2025

From: Marketsandmarketds
Published: Mon Sep 03 2018

The Automotive Heat Exchanger Market is estimated to be USD 19.21 billion in 2017 and is projected to reach USD 32.05 billion by 2025, growing at a CAGR of 6.61% from 2017 to 2025.

The market growth is primarily driven by the increasing demand for HVAC system in high-end commercial vehicles and off-highway vehicles. However, the increasing demand for electric and hybrid vehicles is considered a restraint for the conventional engine cooling components such as a radiator, EGR cooler, and intercoolers.

"The intercooler segment is estimated to be the fastest growing segment, in terms of value, in automotive heat exchanger market, by application"

The automotive heat exchanger market for intercoolers is estimated to grow at the highest rate during the forecast period. The growing trend of engine downsizing without compromising performance and the rising demand for high-performance vehicles are compelling vehicle manufacturers to adopt technologies such as turbochargers and superchargers, which require intercoolers for their functioning.

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"The Passenger car segment is estimated to be the largest segment, in terms of value, in the automotive heat exchanger market, by vehicle type"

By vehicle type, the passenger cars segment is estimated to hold the largest market share of the automotive heat exchanger market. The rise in production of passenger cars globally, high demand for premium vehicles and SUVs, and high-performance expectation from personal vehicles are driving the passenger car segment. Moreover, the global demand for passenger cars is larger than that for commercial vehicles, and it is expected to grow further in the future. Additionally, factors such as the sizeable number of luxury light-duty vehicles in Europe and North America and the increasing demand for these vehicles in the Asia Pacific region are increasing the demand for automotive heat exchangers.

"Asia Pacific is estimated to be the fastest growing regional market for automotive heat exchangers in terms of volume"

The Asia Pacific is estimated to be the fastest growing market for automotive heat exchangers during the forecast period. The region is home to emerging economies such as China and India as well as developed nations such as Japan. The growing purchasing power of consumers has triggered the demand for automobiles in the region. The growing number of luxury vehicles and the increasing demand for commercial and off-highway vehicles are propelling the growth of automotive heat exchangers in the region.

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The report covers all the major players in the automotive heat exchanger market, including Denso (Japan), Mahle (Germany), Valeo (France), Dana (US), and Hanon (South Korea).

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