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Automotive Heat Exchanger Market

Automotive Heat Exchanger Market Forecasts to 2028 – Global Analysis By Type ( (HVAC) Thermal Management, Powertrain Thermal Management), Material Type (Aluminum Type, Copper Type), Design Type (Double Pipe, Plate Bar/Plate and Frame) and By Geography

4.3 (72 reviews)
Published: February 2022 ID: SMRC20457
4.3 (72 reviews)
Published: February 2022 ID: SMRC20457

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Automotive Heat Exchanger Market is accounted for $25.28 billion in 2021 and is expected to reach $45.03 billion by 2028 growing at a CAGR of 8.6% during the forecast period. Automotive heat exchanger is a device designed to efficiently exchange the heat from one medium to another at different temperatures. The two mediums contain fluids that flow to each other but are separated by a metal having good heat transfer properties. Out of the two, one is hot and the other a cold fluid. The hot liquid transfers heat to the freezing liquid as they both pass through the heat exchanger, thus decreasing the high temperature of the hot liquid and raising the warmth of the cold liquid.

Market Dynamics:

Driver:

Rising Acceptance Of The HVAC system


The demand for comfort and convenience functions in vehicles has increased substantially with an increase in disposable income, the rise in purchasing power, and changes in buyer preferences. OEMs are now offering advanced comfort and convenience functions to stay ahead in the competition. Earlier, the HVAC system was offered in premium and mid-segment passenger vehicles. However, it is now a standard function in all passenger cars. Also, the HVAC system is now offered in commercial and off-highway vehicle segments to reduce the number of road accidents. Several governments across the globe have introduced regulations related to the cabin HVAC system. For instance, the Indian government plans to mandate an air conditioning system for the cabin of all commercial vehicles. These regulations and increasing awareness of driver safety are driving the market for the HVAC system in commercial and off-highway vehicles which in turn drive the market growth.

Restraint:

Rising Demand For Electric And Hybrid Vehicles 


The increasing focus on the reduction of vehicular emissions and rising demand for fuel-efficient vehicles have compelled OEMs to develop energy-efficient solutions. Carbon dioxide (CO2) regulations for vehicles are likely to tighten across automotive hubs such as the US, China, and Japan during the next decade. While OEMs continue to adopt advanced technologies such as electrification of vehicles, the consumer has also become aware of the impact of vehicle emissions on the environment. Environmental concerns have compelled OEMs to invest in e-mobility. The increasing demand for electric and hybrid vehicles can hamper the growth of the market; electric vehicles do not use conventional automotive heat exchangers. Instead, electric vehicles have a battery thermal management system for battery cooling.

Opportunity:

Battery Thermal Management System


The increasing adoption of electric vehicles has compelled the manufacturers of traditional heat exchanger systems to develop an efficient battery thermal management system and expand their product portfolio. The widespread use of BEVs, HEVs, and PHEVs has led to the adoption of lithium-ion batteries that can store a relatively large amount of energy in a small space. Hence the use of the battery thermal management system creates the opportunity for the market.

Threat:

Forthcoming Emission Norms


Governments across the globe have increased the stringency of emission regulations. However, emission norms do not influence the consumer’s desire to own a vehicle with high performance. Automotive original equipment manufacturers (OEMs) are therefore adopting strategies to comply with the stringent emission norms. The need to reduce emissions from a vehicle has led to changes in vehicle dynamics, weight reduction, green telematics, etc. Also, OEMs are using advanced high-strength steel and aluminum to reduce the total weight of the chassis. EGR system is commonly used in a vehicle for NOx reduction. It helps to recirculate a controllable proportion of the exhaust gas back into the engine. However, increasing stringency of emission regulations may lead to the replacement of the EGR system with a more efficient system such as Selective Catalytic Reduction (SCR). Additionally, emission norms pose a threat to diesel vehicles.

Passenger Car segment is expected to be the largest during the forecast period

The growth of this segment is attributed to the rise in production of passenger cars globally, high demand for premium vehicles and SUVs, high-performance expectations from personal vehicles, and increasing the application of automotive heat exchangers in passenger vehicles. The rise in production of passenger cars globally, high demand for premium vehicles and SUVs, and high-performance expectations 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 market.

The Shell and Tube segment is expected to have the highest CAGR during the forecast period

Tube and shell heat exchangers are the most common devices. They are widely used as condensers, steam generators, and oil coolers. They offer a relatively large ratio of heat transfer to weight, volume, and other superior qualities making them the most commonly used devices in verticals such as a chemical. Rising government investments in construction projects and commercial buildings are driving the demand for HVACR equipment, which in turn is expected to boost the demand for tube and shell exchangers.

Region with highest share:

The Asia Pacific is projected to hold the highest market share. The demand for the market in the province depends on numerous factors, such as the production and demand for automobiles and the number of vehicles on the road. In the emerging and developing countries of the region, the demand for the market is driven by the production of new vehicles. Additionally, the manufacturers in the area have started to invest heavily in lightweight automotive material, which is expected to enhance the demand for the market significantly in the province.

Region with highest CAGR:

Europe is projected to have the highest CAGR, owing to recent developments in nuclear & renewable energy sectors and increased replacement demand for heat exchangers. Manufacturers in Eastern Europe are expected to focus on regional production to reduce import dependency. The stringency in the emission norms levied by the European Commission and EPA has brought about a lot of reforms in the manufacturing of automotive components. The revival of the growth of the European automotive industry is a huge propellant in the growth of the market. The increasing demand for premium and luxury passenger vehicles, which have increased usage of heat exchangers, would also help the growth of the market in the forecast period.

Key players in the market:

Some of the key players profiled in the Automotive Heat Exchanger Market include Alfa Laval, American Industrial Heat Transfer, Inc, Calsonic Kansei, Clizen Inc., Constellium, Dana Incorporated, Denso, G&M Radiator, GEA Group, Güntner, Hanon Systems, MAHLE Group, Nippon Light Metal, Sanden Corporation, SGL Carbon, Valeo , Visteon Corporation, Wuxi Guanyun Heat Exchanger Co., Ltd.
        
Key developments:

In October 2017: Valeo launched a new lineup of heating, ventilation, and air conditioning (HVAC) solutions for electric and hybrid buses and coaches.

In December 2016: Calsonic Kansei launched an EGR cooler that cools down the exhaust gas being returned to the combustion chamber.

In February 2015: Denso announced that it had open a new plant in Cambodia in the Phnom Penh Special Economic Zone for manufacturing magnetos.

Types Covered: 
• Heating, Ventilation, and Air Conditioning (HVAC) Thermal Management   
• Powertrain Thermal Management           

Material Types Covered:
• Aluminum Type      
• Copper Type             

Design Types Covered:
• Double Pipe           
• Plate Bar/Plate and Frame          
• Shell and Tube           
• Tube Fin
             
Flow Types Covered:
• Counter Flow            
• Cross Flow  
• Parallel Flow

 Order Types Covered:
• Cooling System           
• Exhaust Gas Recirculation (EGR) System
• Intake System  

Off-Highway Vehicle Types Covered:
• Agricultural Equipment          
• Construction Equipment
         
 Powertrain Types Covered:
• Battery Electric Vehicles (BEVs)        
• Electric Vehicles           
• Fuel Cell Electric Vehicles (FCEV)        
• Hybrid Electric Vehicles (HEVs)        
• Internal Combustion Engine (ICE) Vehicles/Conventional Vehicles
• Plug-In Hybrid Electric Vehicles (PHEVs)

Vehicle Types Covered:
• Light Commercial Vehicle          
• Heavy Commercial Vehicle          
• Passenger Car

Applications Covered:
• Air Conditioning Systems          
• Exhaust Gas Heat Exchangers          
• Intercoolers           
• Oil Coolers           
• Radiators
          
Sales Channels Covered:
• Original Equipment Manufacturers (OEM)         
• Aftermarket                
           
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary   
    
2 Preface   

 2.1 Abstract  
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology  
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions 
    
3 Market Trend Analysis   
 3.1 Introduction  
 3.2 Drivers  
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats  
 3.6 Application Analysis  
 3.7 Emerging Markets  
 3.8 Impact of Covid-19  
    
4 Porters Five Force Analysis   
 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes  
 4.4 Threat of new entrants  
 4.5 Competitive rivalry  
    
5 Global Automotive Heat Exchanger Market, By Type   
 5.1 Introduction  
 5.2 Heating, Ventilation, and Air Conditioning (HVAC) Thermal Management      
 5.3 Powertrain Thermal Management            
    
6 Global Automotive Heat Exchanger Market, By Material Type   
 6.1 Introduction  
 6.2 Aluminum Type         
 6.3 Copper Type              
    
7 Global Automotive Heat Exchanger Market, By Design Type   
 7.1 Introduction  
 7.2 Double Pipe              
 7.3 Plate Bar/Plate and Frame             
 7.4 Shell and Tube              
 7.5 Tube Fin                
    
8 Global Automotive Heat Exchanger Market, By Flow Type   
 8.1 Introduction  
 8.2 Counter Flow               
 8.3 Cross Flow     
 8.4 Parallel Flow              
    
9 Global Automotive Heat Exchanger Market, By Order Type   
 9.1 Introduction  
 9.2 Cooling System              
 9.3 Exhaust Gas Recirculation (EGR) System   
 9.4 Intake System              
     
10 Global Automotive Heat Exchanger Market, By Off-Highway Vehicle Type    
 10.1 Introduction  
 10.2 Agricultural Equipment             
 10.3 Construction Equipment             
    
11 Global Automotive Heat Exchanger Market, By Powertrain Type     
 11.1 Introduction  
 11.2 Battery Electric Vehicles (BEVs)           
 11.3 Electric Vehicles              
 11.4 Fuel Cell Electric Vehicles (FCEV)           
 11.5 Hybrid Electric Vehicles (HEVs)           
 11.6 Internal Combustion Engine (ICE) Vehicles/Conventional Vehicles  
 11.7 Plug-In Hybrid Electric Vehicles (PHEVs)           
    
12 Global Automotive Heat Exchanger Market, By Vehicle Type     
 12.1 Introduction  
 12.2 Light Commercial Vehicle             
 12.3 Heavy Commercial Vehicle             
 12.4 Passenger Car              
  12.4.1 Compact             
  12.4.2 Luxury             
  12.4.3 Mid-Sized            
  12.4.4 Sports Utility Vehicle (SUV)           
 12.5 Off-The-Road (OTR) Vehicles         
    
13 Global Automotive Heat Exchanger Market, By Application   
 13.1 Introduction  
 13.2 Air Conditioning Systems             
 13.3 Exhaust Gas Heat Exchangers             
 13.4 Intercoolers              
 13.5 Oil Coolers              
 13.6 Radiators               
    
14 Global Automotive Heat Exchanger Market, By Sales Channel   
 14.1 Introduction  
 14.2 Original Equipment Manufacturers (OEM)            
 14.3 Aftermarket       
    
15 Global Automotive Heat Exchanger Market, By Geography   
 15.1 Introduction  
 15.2 North America  
  15.2.1 US 
  15.2.2 Canada 
  15.2.3 Mexico 
 15.3 Europe  
  15.3.1 Germany 
  15.3.2 UK 
  15.3.3 Italy 
  15.3.4 France 
  15.3.5 Spain 
  15.3.6 Rest of Europe 
 15.4 Asia Pacific  
  15.4.1 Japan 
  15.4.2 China 
  15.4.3 India 
  15.4.4 Australia 
  15.4.5 New Zealand 
  15.4.6 South Korea 
  15.4.7 Rest of Asia Pacific 
 15.5 South America  
  15.5.1 Argentina 
  15.5.2 Brazil 
  15.5.3 Chile 
  15.5.4 Rest of South America 
 15.6 Middle East & Africa  
  15.6.1 Saudi Arabia 
  15.6.2 UAE 
  15.6.3 Qatar 
  15.6.4 South Africa 
  15.6.5 Rest of Middle East & Africa 
    
16 Key Developments   
 16.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 16.2 Acquisitions & Mergers  
 16.3 New Product Launch  
 16.4 Expansions  
 16.5 Other Key Strategies  
    
17 Company Profiling   
 17.1 Alfa Laval               
 17.2 American Industrial Heat Transfer, Inc.            
 17.3 Calsonic Kansei                
 17.4 Clizen Inc.              
 17.5 Constellium              
 17.6 Dana Incorporated              
 17.7 Denso                
 17.8 G&M Radiator              
 17.9 GEA Group              
 17.10 Güntner               
 17.11 Hanon Systems              
 17.12 MAHLE Group               
 17.13 Nippon Light Metal              
 17.14 Sanden Corporation              
 17.15 SGL Carbon              
 17.16 Valeo    
 17.17 Visteon Corporation             
 17.18 Wuxi Guanyun Heat Exchanger Co., Ltd.             


List of Tables    
1 Global Automotive Heat Exchanger Market Outlook, By Region (2020-2028) (US $MN)    
2 Global Automotive Heat Exchanger Market Outlook, By Type (2020-2028) (US $MN)    
3 Global Automotive Heat Exchanger Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) Thermal Management (2020-2028) (US $MN)    
4 Global Automotive Heat Exchanger Market Outlook, By Powertrain Thermal Management (2020-2028) (US $MN)    
5 Global Automotive Heat Exchanger Market Outlook, By Material Type (2020-2028) (US $MN)    
6 Global Automotive Heat Exchanger Market Outlook, By Aluminum Type (2020-2028) (US $MN)    
7 Global Automotive Heat Exchanger Market Outlook, By Copper Type (2020-2028) (US $MN)    
8 Global Automotive Heat Exchanger Market Outlook, By Design Type (2020-2028) (US $MN)    
9 Global Automotive Heat Exchanger Market Outlook, By Double Pipe (2020-2028) (US $MN)    
10 Global Automotive Heat Exchanger Market Outlook, By Plate Bar/Plate and Frame (2020-2028) (US $MN)    
11 Global Automotive Heat Exchanger Market Outlook, By Shell and Tube (2020-2028) (US $MN)    
12 Global Automotive Heat Exchanger Market Outlook, By Tube Fin (2020-2028) (US $MN)    
13 Global Automotive Heat Exchanger Market Outlook, By Flow Type (2020-2028) (US $MN)    
14 Global Automotive Heat Exchanger Market Outlook, By Counter Flow (2020-2028) (US $MN)    
15 Global Automotive Heat Exchanger Market Outlook, By Cross Flow (2020-2028) (US $MN)    
16 Global Automotive Heat Exchanger Market Outlook, By Parallel Flow (2020-2028) (US $MN)    
17 Global Automotive Heat Exchanger Market Outlook, By Order Type (2020-2028) (US $MN)    
18 Global Automotive Heat Exchanger Market Outlook, By Cooling System (2020-2028) (US $MN)    
19 Global Automotive Heat Exchanger Market Outlook, By Exhaust Gas Recirculation (EGR) System  (2020-2028) (US $MN)    
20 Global Automotive Heat Exchanger Market Outlook, By Intake System (2020-2028) (US $MN)    
21 Global Automotive Heat Exchanger Market Outlook, By Off-Highway Vehicle Type  (2020-2028) (US $MN)    
22 Global Automotive Heat Exchanger Market Outlook, By Agricultural Equipment (2020-2028) (US $MN)    
23 Global Automotive Heat Exchanger Market Outlook, By Construction Equipment (2020-2028) (US $MN)    
24 Global Automotive Heat Exchanger Market Outlook, By Powertrain Type   (2020-2028) (US $MN)    
25 Global Automotive Heat Exchanger Market Outlook, By Battery Electric Vehicles (BEVs) (2020-2028) (US $MN)    
26 Global Automotive Heat Exchanger Market Outlook, By Electric Vehicles (2020-2028) (US $MN)    
27 Global Automotive Heat Exchanger Market Outlook, By Fuel Cell Electric Vehicles (FCEV) (2020-2028) (US $MN)    
28 Global Automotive Heat Exchanger Market Outlook, By Hybrid Electric Vehicles (HEVs) (2020-2028) (US $MN)    
29 Global Automotive Heat Exchanger Market Outlook, By Internal Combustion Engine (ICE) Vehicles/Conventional Vehicles (2020-2028) (US $MN)    
30 Global Automotive Heat Exchanger Market Outlook, By Plug-In Hybrid Electric Vehicles (PHEVs) (2020-2028) (US $MN)    
31 Global Automotive Heat Exchanger Market Outlook, By Vehicle Type   (2020-2028) (US $MN)    
32 Global Automotive Heat Exchanger Market Outlook, By Light Commercial Vehicle (2020-2028) (US $MN)    
33 Global Automotive Heat Exchanger Market Outlook, By Heavy Commercial Vehicle (2020-2028) (US $MN)    
34 Global Automotive Heat Exchanger Market Outlook, By Passenger Car (2020-2028) (US $MN)    
35 Global Automotive Heat Exchanger Market Outlook, By Compact (2020-2028) (US $MN)    
36 Global Automotive Heat Exchanger Market Outlook, By Luxury (2020-2028) (US $MN)    
37 Global Automotive Heat Exchanger Market Outlook, By Mid-Sized (2020-2028) (US $MN)    
38 Global Automotive Heat Exchanger Market Outlook, By Sports Utility Vehicle (SUV) (2020-2028) (US $MN)    
39 Global Automotive Heat Exchanger Market Outlook, By Off-The-Road (OTR) Vehicles (2020-2028) (US $MN)    
40 Global Automotive Heat Exchanger Market Outlook, By Application (2020-2028) (US $MN)    
41 Global Automotive Heat Exchanger Market Outlook, By Air Conditioning Systems (2020-2028) (US $MN)    
42 Global Automotive Heat Exchanger Market Outlook, By Exhaust Gas Heat Exchangers (2020-2028) (US $MN)    
43 Global Automotive Heat Exchanger Market Outlook, By Intercoolers (2020-2028) (US $MN)    
44 Global Automotive Heat Exchanger Market Outlook, By Oil Coolers (2020-2028) (US $MN)    
45 Global Automotive Heat Exchanger Market Outlook, By Radiators (2020-2028) (US $MN)    
46 Global Automotive Heat Exchanger Market Outlook, By Sales Channel (2020-2028) (US $MN)    
47 Global Automotive Heat Exchanger Market Outlook, By Original Equipment Manufacturers (OEM) (2020-2028) (US $MN)    
48 Global Automotive Heat Exchanger Market Outlook, By Aftermarket (2020-2028) (US $MN)    
    
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.   

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