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Increase in demand for HVAC system in highend commercial vehicles and offhighway vehicles is expected to propel the market for automotive heat exchangers in the coming years
The global 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 highend commercial vehicles and offhighway vehicles. However, the increasing demand for electric and hybrid vehicles is considered a restraint for the conventional engine cooling components such as 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 highperformance vehicles are compelling vehicle manufacturers to adopt technologies such as turbochargers and superchargers, which require intercoolers for their functioning.
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 lightduty 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
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 offhighway vehicles are propelling the growth of automotive heat exchangers in the region.
The study contains insights provided by various industry experts, ranging from automotive heat exchanger manufacturers to automobile OEMs and various automotive associations. The breakup of the primaries is as follows:
By Company Type: Tier I63%, Tier II25% and OEMs12%
By Designation: C Level38%, D Level37% and Other 25%
By Region: Asia Pacific38%, Europe12%, North America50%
Players profiled in the report are:
Hanon South Korea
Calsonic Kansei Japan
T. Rad Japan
Nippon Light Metal Japan
The report covers the automotive heat exchanger market by application Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, Radiator, Design Type Plate Bar, Design Type Others, Electric Vehicle Type BEVs, HEVs, PHEVs, OffHighway vehicle Agriculture Equipment Construction Equipment, Vehicle Type Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle and region Asia Pacific, Europe, North America, and Rest of the World.
Reasons to Buy the Report:
The report provides insights into the following points:
Market Penetration: The report provides comprehensive information on heat exchangers offered by the top players in the industry for the automotive market.
Product Development/Innovation: The report provides detailed insights into upcoming technologies, RD activities, and new product launches in the automotive heat exchanger market.
Market Development: The report offers comprehensive information about heat exchanger market for automotive. The report analyzes the market for automotive heat exchangers across regions and provides comprehensive information about lucrative emerging markets.
Market Diversification: The report provides exhaustive information about emerging trends, market dynamics, and investments in the global heat exchanger market for automotive.
Original Article: Automotive Heat Exchanger Market by Application Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, Radiator, Design Type, Electric Vehicle Type, OffHighway Vehicle, Vehicle Type, Region Global Forecast to 2025 [Report Updated: 05NEXT ARTICLE