Automotive heat exchanger market size to grow by USD 8,300.06 million from 2022 to 2027: Heavy dependence on IC engines for mobility in emerging countries to drive growth

NEW YORK, March 21, 2023 /PRNewswire/ -- The automotive heat exchanger market size is forecasted to increase by USD 8,300.06 million from 2022 to 2027, at a CAGR of 6.41%, according to the recent market study by Technavio. The growth of the market will be driven by the heavy dependence on IC engines for mobility in emerging countries. The preference for mobility through roadways is increasing in emerging countries such as India and China. As a result, these countries rely heavily on internal combustion (IC) engines for transportation. In China, heavy-, medium-, and light-duty vehicles are used extensively for transporting cargo, while road transportation is preferred for container transport in India. Automobiles that operate using IC engines provide easy mobility, which will drive the demand for automotive heat exchangers during the forecast period. Charts & data tables about the market have been covered in this report - Download a sample report

The market is segmented by application (passenger cars, ICVs, and M and HCVs), type (plate bar, tube fin, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa)

Segmentation by Application

The passenger cars segment was valued at USD 17,003.09 million in 2017 and continued to grow until 2021. During the forecast period, this segment will account for a significant share of the market growth. Heat exchanges are crucial components of passenger cars. OEMs equip their passenger cars with brazed copper heat exchangers. These heat exchangers can last up to ten years, which reduces the replacement cost. Their weight is approximately 35% lower when compared to traditional heat exchangers. In addition, the sales of passenger cars are rising in countries such as China. These factors will drive the segment's growth during the forecast period.

Segmentation by Geography

APAC is estimated to account for 54% of the growth of the global market during the forecast period. This growth is attributed to factors such as rising disposable incomes and the launch of new car models by OEMs. APAC has the largest number of potential first-time car buyers, which is increasing the sales of passenger cars. In addition, APAC has become an offshore hub for automotive manufacturing. The governments of countries in Asia promote the automotive industry in the form of tax and fiscal incentives. For instance, the Thai government has granted exemption on import duties and an eight-year tax exemption for 11 categories of vehicle components. These factors will drive the growth of the regional market during the forecast period.

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Vendor analysis

Technavio has extensively analyzed 15 major vendors, including Alfa Laval Corporate AB, API Heat Transfer Inc., Be Cool Radiators, Clizen Inc., Conflux Technology Pty Ltd., Constellium SE, Delphi Technologies Plc, Granges, 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 benefits for industry players & stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Global competitiveness and key competitor positions

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What are the key data covered in this automotive heat exchanger market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the automotive heat exchanger market between 2023 and 2027

Precise estimation of the size of the automotive heat exchanger market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the automotive heat exchanger market across APAC, North America, Europe, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of automotive heat exchanger market vendors

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The automotive service market is estimated to grow at a CAGR of 7.65% between 2022 and 2027. The size of the market is forecasted to increase by USD 351.69 billion. This report extensively covers market segmentation by type (mechanical services, exterior and structural services, and maintenance services), vehicle type (passenger cars, light commercial vehicles, two-wheelers, and heavy commercial vehicles), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

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Automotive Heat Exchanger Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.41%

Market growth 2023-2027

USD 8,300.06 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.88

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 54%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

Alfa Laval Corporate AB, API Heat Transfer Inc., Be Cool Radiators, Clizen Inc., Conflux Technology Pty Ltd., Constellium SE, Delphi Technologies Plc, Granges, 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

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global automotive heat exchanger market 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Passenger cars - Market size and forecast 2022-2027

6.4 LCVs - Market size and forecast 2022-2027

6.5 M and HCVs - Market size and forecast 2022-2027

6.6 Market opportunity by Application

7 Market Segmentation by Type

7.1 Market segments

7.2 Comparison by Type

7.3 Plate bar - Market size and forecast 2022-2027

7.4 Tube fin - Market size and forecast 2022-2027

7.5 Others - Market size and forecast 2022-2027

7.6 Market opportunity by Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Alfa Laval Corporate AB

12.4 API Heat Transfer Inc.

12.5 Clizen Inc.

12.6 Conflux Technology Pty Ltd.

12.7 Constellium SE

12.8 Granges

12.9 Haugg Kuhlerfabrik GmbH

12.10 Hisaka Works Ltd.

12.11 MAHLE GmbH

12.12 Modine Manufacturing Co.

12.13 Nissens Group

12.14 Senior Plc

12.15 Southwest Radiator Inc.

12.16 Valeo SA

12.17 Vibrant Power Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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