The Business Research Company’s report on the Automotive Heat Exchanger Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the automotive heat exchanger market’s growth in recent years?
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, in August 2024, according to the European Automobile Manufacturers’ Association, a Belgium-based organization, Seven months into 2024, new car registrations rose by 3.9%, exceeding 6.5 million units. The largest markets in the bloc demonstrated positive yet modest growth, with Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%) all reporting increases. Therefore, the increasing production of commercial and passenger vehicles is expected to propel the growth of the automative heat exchanger market going forward.
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How does the future projection of the automotive heat exchanger market size compare to its historical growth?
The automotive heat exchanger market size has grown strongly in recent years. It will grow from $28.11 billion in 2024 to $30.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. 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.
The automotive heat exchanger market size is expected to see strong growth in the next few years. It will grow to $41.82 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. 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.
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Which key players are shaping the future of the automotive heat exchanger market?
Major companies operating in the automotive heat exchanger market include Nippon Denso Co Ltd., MAHLE GmbH, Valeo SA, Hanon Systems Co Ltd., Dana Ltd., Autokühler-Gesellschaft Group, American Industrial Heat Transfer Inc., Alfa-Laval AB, Banco Products Ltd., Climetal SL, Clizen Inc., Constellium SE, GM Radiator Manufacturing Company Ltd., American Petroleum Institute Heat Transfer, Robert Bosch GmbH, Modine Manufacturing Company, Calsonic Kansei Corporation, Behr Hella Service GmbH, Visteon Corporation, Filterwerk Mann+Hummel GmbH, Tata AutoComp Systems Ltd., Sanden Holdings Corporation, Adrad Pty Ltd., Sondex AS, Cummins Inc., Automotive Cooling Ltd., Genera Corporation, T RAD Co. Ltd., Sunbelt Radiators Inc., Kelvion Holding GmbH
What trends will propel the growth and evolution of the automotive heat exchanger market?
Product 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.
Which regions are expected to become dominant players in the automotive heat exchanger market?
Asia-Pacific was the largest region in the automotive heat exchanger market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive heat exchanger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the automotive heat exchanger market, and how are they evolving?
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 Applications
Subsegments:
1) By Tube Fin: Round Tube Fin Heat Exchangers, Flat Tube Fin Heat Exchangers, U-Tube Heat Exchangers
2) By Plate Bar: Brazed Plate Heat Exchangers, Gasketed Plate Heat Exchangers
3) By Other Design Types: Shell And Tube Heat Exchangers, Air-Cooled Heat Exchangers, Spiral Heat Exchangers
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How is the automotive heat exchanger market defined?
An automotive heat exchanger is a device designed for the automobile industry that allows heat to be transferred between two mediums at different temperatures. The medium consists of fluids that are separated by a material such as metals with heat transfer properties and flow close to each other. The automotive heat exchanger is used to remove heat from automotive mechanical systems.
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