The automotive heat exchanger market is projected to increase from USD 24,901.13 million in 2022 to USD 44,636.22 million by 2032, at a CAGR of 6.02% over the forecast period 2023-2032.
A heat exchanger is a heat transfer system designed to exchange heat from one medium to another at different temperatures. A media consists of at least two media flowing close together and separated by a barrier, which may be a material with good heat transfer characteristics, such as a metal. The system includes a hot liquid and a cold liquid. According to the flow mode, heat exchangers are divided into cross, parallel, and reverse flow (or counter flow). In the automotive industry, it removes heat from mechanical systems.
The global automotive heat exchangers market has rapidly expanded owing to the increasing demand for automotive components in industrial, commercial, and technical applications. Additionally, the rising acceptance of HVAC systems in high-end OHVs and CVs is anticipated to expand the market. Regardless, the increasing carbon footprint of the automotive industry will force the government to adopt stringent measures and limitations to maintain carbon emission levels, which may cause a reduction in the application of automotive heat exchangers. In addition, the high initial cost and complexity of heat exchangers' design can further hamper the market's growth.
This study provides a complete analysis by design type, vehicle type, electric vehicle, application, and region. The design type segment is classified into tube fin, plate bar, and others. The plate bar segment dominated the market in 2022. A consistent supply of raw materials, including stainless steel sheets and tires, nitrile rubber gaskets, EPDM and neoprene rubber, contributes to the segment's growth. The vehicle type segment is divided into light commercial vehicle, heavy commercial vehicle, and passenger car. The passenger car segment dominated the market in 2022. Growing demand for luxury cars and SUVs, rising production of passenger vehicles globally, and rising expectations for higher-performance personal vehicles contribute to the segment's growth. The electric vehicle segment includes hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV). The plug-in hybrid electric vehicle (PHEV) segment registered the largest market share in 2022 due to the rising demand and the growth in the sale of plug-in hybrid electric vehicles (PHEVs). The application segment comprises air conditioning, intercooler, exhaust gas, oil cooler, radiator, and others. The air conditioning segment held the highest market share in 2022. Heat exchangers not only help in heating and cooling residential & commercial buildings but also help engines and machines to operate smoothly.
The automotive heat exchanger market is divided North America, South America, Asia-Pacific, Europe, and Middle East & Africa. The Asia-Pacific region is anticipated to witness substantial and, at the same time quickest growth in the global automotive heat exchanger market. The Asia-Pacific region has recently appeared as a hub for automobile manufacturing owing to its low manufacturing expenditures and the availability of low-cost labour. Hence, the Asia-Pacific region has experienced notable growth compared to the developed markets in North America and Europe.
Key industry players in the automotive heat exchanger market are AKG Thermal Systems, Inc., American Industrial Heat Transfer, Inc., Banco Products (India) Ltd., Climetal S.L., Clizen Inc., Conflux Technology Pty Ltd., Constellium SE, DENSO Corporation, Delphi Technologies Plc, Granges, G&M Radiator Mfg Ltd., Haugg Kuhlerfabrik GmbH, HongDao Automotive Parts Co. Ltd., Hanon Systems, MAHLE GmbH, Modine Manufacturing Co., Nissens Group, Senior Plc, Southwest Radiator Inc., Spectra Premium Industries Inc., Valeo SA, Vibrant Power Inc. and Vikas Group among others.
Automotive Heat Exchanger Market Analysis and Forecast, Design Type
Automotive Heat Exchanger Market Analysis and Forecast, Vehicle Type
Automotive Heat Exchanger Market Analysis and Forecast, Electric Vehicle
Automotive Heat Exchanger Market Analysis and Forecast, Application
Automotive Heat Exchanger Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Design Type
4.3.2. Market Attractiveness Analysis by Vehicle Type
4.3.3. Market Attractiveness Analysis by Electric Vehicle
4.3.4. Market Attractiveness Analysis by Application
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increase in population and per capita income
5.2.2. Emergence of electric vehicles (EV’s)
5.3. Restraints
5.3.1. High upfront cost
5.4. Opportunities
5.4.1. Rapid urbanization
5.5. Challenges
5.5.1. High carbon footprint of the automotive sector
6. Global Automotive Heat Exchanger Market Analysis and Forecast, By Design Type
6.1. Segment Overview
6.2. Tube Fin
6.3. Plate Bar
6.4. Others
7. Global Automotive Heat Exchanger Market Analysis and Forecast, By Vehicle Type
7.1. Segment Overview
7.2. Light Commercial Vehicle
7.3. Heavy Commercial Vehicle
7.4. Passenger Car
8. Global Automotive Heat Exchanger Market Analysis and Forecast, By Electric Vehicle
8.1. Segment Overview
8.2. Hybrid Electric Vehicle (HEV)
8.3. Plug-In Hybrid Electric Vehicle (PHEV)
8.4. Battery Electric Vehicle (BEV)
9. Global Automotive Heat Exchanger Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Air Conditioning
9.3. Intercooler
9.4. Exhaust Gas
9.5. Oil Cooler
9.6. Radiator
9.7. Others
10. Global Automotive Heat Exchanger Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Automotive Heat Exchanger Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Automotive Heat Exchanger Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. AKG Thermal Systems, Inc.
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. American Industrial Heat Transfer, Inc.
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Banco Products (India) Ltd.
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Climetal S.L.
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Clizen Inc.
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. Conflux Technology Pty Ltd.
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Constellium SE
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. DENSO Corporation
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Delphi Technologies Plc
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Granges
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
12.11. G&M Radiator Mfg Ltd.
12.11.1. Business Overview
12.11.2. Company Snapshot
12.11.3. Company Market Share Analysis
12.11.4. Company Product Portfolio
12.11.5. Recent Developments
12.11.6. SWOT Analysis
12.12. Haugg Kuhlerfabrik GmbH
12.12.1. Business Overview
12.12.2. Company Snapshot
12.12.3. Company Market Share Analysis
12.12.4. Company Product Portfolio
12.12.5. Recent Developments
12.12.6. SWOT Analysis
12.13. HongDao Automotive Parts Co. Ltd.
12.13.1. Business Overview
12.13.2. Company Snapshot
12.13.3. Company Market Share Analysis
12.13.4. Company Product Portfolio
12.13.5. Recent Developments
12.13.6. SWOT Analysis
12.14. Hanon Systems
12.14.1. Business Overview
12.14.2. Company Snapshot
12.14.3. Company Market Share Analysis
12.14.4. Company Product Portfolio
12.14.5. Recent Developments
12.14.6. SWOT Analysis
12.15. MAHLE GmbH
12.15.1. Business Overview
12.15.2. Company Snapshot
12.15.3. Company Market Share Analysis
12.15.4. Company Product Portfolio
12.15.5. Recent Developments
12.15.6. SWOT Analysis
12.16. Modine Manufacturing Co.
12.16.1. Business Overview
12.16.2. Company Snapshot
12.16.3. Company Market Share Analysis
12.16.4. Company Product Portfolio
12.16.5. Recent Developments
12.16.6. SWOT Analysis
12.17. Nissens Group
12.17.1. Business Overview
12.17.2. Company Snapshot
12.17.3. Company Market Share Analysis
12.17.4. Company Product Portfolio
12.17.5. Recent Developments
12.17.6. SWOT Analysis
12.18. Senior Plc
12.18.1. Business Overview
12.18.2. Company Snapshot
12.18.3. Company Market Share Analysis
12.18.4. Company Product Portfolio
12.18.5. Recent Developments
12.18.6. SWOT Analysis
12.19. Southwest Radiator Inc.
12.19.1. Business Overview
12.19.2. Company Snapshot
12.19.3. Company Market Share Analysis
12.19.4. Company Product Portfolio
12.19.5. Recent Developments
12.19.6. SWOT Analysis
12.20. Spectra Premium Industries Inc.
12.20.1. Business Overview
12.20.2. Company Snapshot
12.20.3. Company Market Share Analysis
12.20.4. Company Product Portfolio
12.20.5. Recent Developments
12.20.6. SWOT Analysis
12.21. Valeo SA
12.21.1. Business Overview
12.21.2. Company Snapshot
12.21.3. Company Market Share Analysis
12.21.4. Company Product Portfolio
12.21.5. Recent Developments
12.21.6. SWOT Analysis
12.22. Vibrant Power Inc.
12.22.1. Business Overview
12.22.2. Company Snapshot
12.22.3. Company Market Share Analysis
12.22.4. Company Product Portfolio
12.22.5. Recent Developments
12.22.6. SWOT Analysis
12.23. Vikas Group
12.23.1. Business Overview
12.23.2. Company Snapshot
12.23.3. Company Market Share Analysis
12.23.4. Company Product Portfolio
12.23.5. Recent Developments
12.23.6. SWOT Analysis
List of Table
1. Global Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
2. Global Tube Fin Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
3. Global Plate Bar Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
4. Global Others Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
5. Global Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
6. Global Light Commercial Vehicle Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
7. Global Heavy Commercial Vehicle Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
8. Global Passenger Car Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
9. Global Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
10. Global Hybrid Electric Vehicle (HEV) Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
11. Global Plug-In Hybrid Electric Vehicle (PHEV) Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
12. Global Battery Electric Vehicle (BEV) Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
13. Global Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
14. Global Air Conditioning Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
15. Global Intercooler Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
16. Global Exhaust Gas Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
17. Global Oil Cooler Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
18. Global Radiator Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
19. Global Others Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
20. Global Automotive Heat Exchanger Market, By Region, 2019-2032 (USD Million) (Units)
21. North America Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
22. North America Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
23. North America Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
24. North America Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
25. U.S. Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
26. U.S. Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
27. U.S. Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
28. U.S. Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
29. Canada Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
30. Canada Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
31. Canada Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
32. Canada Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
33. Mexico Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
34. Mexico Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
35. Mexico Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
36. Mexico Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
37. Europe Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
38. Europe Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
39. Europe Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
40. Europe Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
41. Germany Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
42. Germany Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
43. Germany Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
44. Germany Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
45. France Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
46. France Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
47. France Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
48. France Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
49. U.K. Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
50. U.K. Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
51. U.K. Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
52. U.K. Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
53. Italy Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
54. Italy Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
55. Italy Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
56. Italy Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
57. Spain Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
58. Spain Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
59. Spain Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
60. Spain Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
61. Asia Pacific Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
62. Asia Pacific Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
63. Asia Pacific Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
64. Asia Pacific Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
65. Japan Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
66. Japan Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
67. Japan Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
68. Japan Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
69. China Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
70. China Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
71. China Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
72. China Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
73. India Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
74. India Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
75. India Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
76. India Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
77. South America Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
78. South America Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
79. South America Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
80. South America Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
81. Brazil Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
82. Brazil Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
83. Brazil Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
84. Brazil Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
85. Middle East and Africa Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
86. Middle East and Africa Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
87. Middle East and Africa Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
88. Middle East and Africa Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
89. UAE Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
90. UAE Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
91. UAE Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
92. UAE Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
93. South Africa Automotive Heat Exchanger Market, By Design Type, 2019-2032 (USD Million) (Units)
94. South Africa Automotive Heat Exchanger Market, By Vehicle Type, 2019-2032 (USD Million) (Units)
95. South Africa Automotive Heat Exchanger Market, By Electric Vehicle, 2019-2032 (USD Million) (Units)
96. South Africa Automotive Heat Exchanger Market, By Application, 2019-2032 (USD Million) (Units)
List of Figures
1. Global Automotive Heat Exchanger Market Segmentation
2. Automotive Heat Exchanger Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Automotive Heat Exchanger Market Attractiveness Analysis by Design Type
9. Global Automotive Heat Exchanger Market Attractiveness Analysis by Vehicle Type
10. Global Automotive Heat Exchanger Market Attractiveness Analysis by Electric Vehicle
11. Global Automotive Heat Exchanger Market Attractiveness Analysis by Application
12. Global Automotive Heat Exchanger Market Attractiveness Analysis by Region
13. Global Automotive Heat Exchanger Market: Dynamics
14. Global Automotive Heat Exchanger Market Share by Design Type (2023 & 2032)
15. Global Automotive Heat Exchanger Market Share by Vehicle Type (2023 & 2032)
16. Global Automotive Heat Exchanger Market Share by Electric Vehicle (2023 & 2032)
17. Global Automotive Heat Exchanger Market Share by Application (2023 & 2032)
18. Global Automotive Heat Exchanger Market Share by Regions (2023 & 2032)
19. Global Automotive Heat Exchanger Market Share by Company (2022)
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