NEW
YORK, July 3, 2024 /PRNewswire/ -- The global
automotive heat exchanger market size is estimated to grow by
USD 9.13 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 6.63% during the forecast period. Heavy
dependence on IC engines for mobility in emerging countries is
driving market growth, with a trend towards increase in demand for
lightweight and compact heat exchangers. However, gradual increase
in annual wages leading to declining profit margins poses a
challenge. Key market players include Alfa Laval AB, API Heat
Transfer Inc., Be Cool Radiators, Clizen Inc., Conflux Technology
Pty Ltd., Constellium SE, BorgWarner Inc., Granges AB, Haugg
Kuhlerfabrik GmbH, Hisaka Works Ltd., HongDao Automotive Parts Co.
Ltd., MAHLE GmbH, Modine Manufacturing Co., Nissens Group, Senior
Plc, Southwest Radiator Inc., Spectra Premium Industries Inc.,
Valeo SA, Vibrant Power Inc., and Vikas Group.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Passenger
cars, LCVs, and M and HCVs), Type (Plate bar, Tube fin, and
Others), and Geography (APAC, North America, Europe, South America,
and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Alfa Laval AB, API Heat
Transfer Inc., Be Cool Radiators, Clizen Inc., Conflux Technology
Pty Ltd., Constellium SE, BorgWarner Inc., Granges AB, Haugg
Kuhlerfabrik GmbH, Hisaka Works Ltd., HongDao Automotive Parts Co.
Ltd., MAHLE GmbH, Modine Manufacturing Co., Nissens Group, Senior
Plc, Southwest Radiator Inc., Spectra Premium Industries Inc.,
Valeo SA, Vibrant Power Inc., and Vikas Group
|
Key Market Trends Fueling Growth
The automotive heat exchanger market is driven by the need for
efficient cooling systems in downsized engines. Radiators, a key
component of cooling systems, are in high demand due to their role
in dissipating excess heat. OEMs face the challenge of reducing
radiator size while maintaining cooling efficiency. DENSO, for
instance, reduced radiator weight by 40% through size reduction and
compact design. The market sees growing demand for lightweight,
compact radiators that offer comparable performance to conventional
radiators.
The Automotive Heat Exchanger market is experiencing significant
growth due to increasing demand for advanced cooling systems in
vehicles. Manufacturers are focusing on Radiators, Condensers,
Intercoolers, and Heater Cores to enhance vehicle performance and
fuel efficiency. Key players are investing in research and
development to introduce innovative products like Hybrid Vehicles
and Electric Vehicles that require efficient cooling systems.
Additionally, the use of lightweight materials and advanced
technologies is trending in the market to reduce vehicle weight and
improve cooling efficiency. Overall, the Automotive Heat Exchanger
market is expected to grow steadily in the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The automotive heat exchanger market has faced increasing
production costs due to wage hikes in low-cost countries like
China and Taiwan. This trend, driven by rising labor
costs and worker attrition, has led manufacturers to explore new
ways to maintain profitability. Regulations on labor conduct and
environmental requirements further add to the challenges. As a
result, annual wage increases are expected to negatively impact
market profitability.
- The Automotive Heat Exchanger market faces several challenges.
These include the need for lighter and more efficient designs to
reduce vehicle weight and improve fuel economy. Cooling systems
must also meet stringent emission standards while maintaining
optimal engine performance. Additionally, the increasing popularity
of electric and hybrid vehicles presents new challenges for heat
exchanger technology, as these vehicles require unique cooling
solutions. Furthermore, the cost of raw materials and manufacturing
processes can impact the profitability of heat exchanger
manufacturers. Lastly, the rapid advancement of technology and
consumer preferences necessitates continuous innovation and
improvement in heat exchanger design and functionality.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This automotive heat exchanger market report extensively covers
market segmentation by
- Application
- 1.1 Passenger cars
- 1.2 LCVs
- 1.3 M and HCVs
- Type
- 2.1 Plate bar
- 2.2 Tube fin
- 2.3 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Passenger cars- The automotive heat exchanger
market is experiencing growth due to OEMs' focus on improving
engine efficiency and reducing carbon emissions. Advanced heat
exchangers, such as brazed copper ones, are in demand. These heat
exchangers have longer lifespans, are lighter, and use less
material. Companies like DENSO, Valeo, and Mahle are manufacturing
smaller, lighter heat exchangers with enhanced cooling features.
HVAC systems, which require heat exchangers, are increasingly used
in vehicles due to the demand for comfort. In China, stricter emission norms are driving the
market, with international manufacturers dominating sales. The
challenge is the rise of electric vehicles, but government
incentives and emission norms continue to drive demand for heat
exchangers.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Automotive Heat Exchanger market is experiencing significant
growth due to the increasing demand for advanced cooling systems in
both conventional and alternative fuel vehicles. The leading
manufacturers are investing heavily in Research and Development
(R&D) to innovate and improve the efficiency of heat
exchangers. Strategic alliances and collaborations are also common
in the industry to expand product offerings and enhance
technological capabilities. The aftermarket segment is also gaining
traction as vehicle owners seek to maintain the performance and
longevity of their cooling systems. The shift towards Electric
Vehicles (EVs) and Hybrid Vehicles (HVs) is driving the demand for
new heat exchanger technologies to manage the unique cooling
requirements of these vehicles. Overall, the Automotive Heat
Exchanger market is poised for continued growth and innovation in
the coming years.
Market Research Overview
The Automotive Heat Exchanger market encompasses the production
and distribution of heat exchangers utilized in the automotive
industry. These components are essential for vehicle cooling
systems, enabling efficient engine performance and passenger
comfort. Manufacturers produce various types of heat exchangers,
including radiators, charge air coolers, oil coolers, and
transmission coolers. Strategic locations and advanced technologies
are key factors driving the industry's growth. The market also
caters to electric and hybrid vehicles, integrating heat exchangers
for battery cooling. Additionally, the increasing demand for fuel
efficiency and stringent emission norms further boosts the market's
expansion. Overall, the Automotive Heat Exchanger market is a
significant sector in the automotive industry, providing innovative
cooling solutions for diverse vehicle applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Cars
- LCVs
- M And HCVs
- Type
-
- Plate Bar
- Tube Fin
- Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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