Press release
Automotive Heat Exchanger Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Automotive Heat Exchanger
How Large Will the Automotive Heat Exchanger Market Size By 2025?
The market size for automotive heat exchangers has seen significant growth in the recent past. The market, which stood at $28.11 billion in 2024, is forecasted to expand to $30.18 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%. The escalation observed during the historical period is credited to factors such as the increased production of automobiles, advancements in internal combustion engines, the introduction of radiator technology, improvements in heat exchanger materials, and the rising demand for superior vehicle performance.
How Big Is the Automotive Heat Exchanger Market Size Expected to Grow by 2029?
The automobile heat exchanger market is anticipated to witness solid development in the forTH*Coming years, escalating to a worth of $41.82 billion in 2029, while maintaining an 8.5% compound annual growth rate (CAGR). The predicted growth during the forecast period can be linked to the shift towards electric and hybrid automotive, enhanced attention to energy efficacy, incorporation of modern cooling systems, sustainability in manufacturing, and the expansion of self-driving vehicle technology. Key trends observed during the forecast period involve technological progress in the automobile sector, addition of intelligent sensors for instant monitoring, stress on thermal management for electric vehicles, and embracing of advanced production methods.
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Which Key Market Drivers Powering Automotive Heat Exchanger Market Expansion and Growth?
The automotive heat exchanger market is on a rise, significantly influenced by the escalating production of both commercial and passenger vehicles. Passenger vehicles cater to the transportation needs of passengers, while commercial vehicles are designed to convey a greater number of individuals for commercial uses. The soaring production of automobiles warrants a substantial amount of automotive components, including automotive heat exchangers, which are incorporated into the new vehicles thereby spurring growth in the automotive heat exchanger market. For instance, the European Automobile Manufacturers' Association, stationed in Belgium, reported in August 2024 that new car registrations have grown by 3.9%, surpassing 6.5 million units within seven months of the year. Noteworthy growth, albeit modest, was reported in the largest markets within the bloc with Spain witnessing a growth of (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%). Consequently, the continued rise in the production of commercial and passenger vehicles is anticipated to continue driving the growth of the automotive heat exchanger market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Heat Exchanger Market?
In the automotive heat exchanger market, a crucial trend is the advent of product innovations. Dominant firms involved in the field of automotive heat exchangers are striving to create inventive heat exchangers to strengthen their standing. Take, for instance, in January 2022, Conflux Technology, a company specialising in additively manufactured heat exchangers based in Australia, is formulating the highly sophisticated additively produced 3D printed heat exchanger designs with the use of metal 3D printing technology, in collaboration with Dallara. It's a compact heat exchanger that complies with rigorous quality, performance, and cost benchmarks. This 3D printed heat exchanger proves to be extremely effective when it comes to thermal exchange, pressure reduction, and weight.
What Are the Emerging Segments in the Automotive Heat Exchanger Market?
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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Who Are the Global Leaders in 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
Which are the Top Profitable Regional Markets for the Automotive Heat Exchanger Industry?
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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