Automotive heat exchangers are the heat exchangers designed solely for its use in a wide-variety of vehicles and automotive components. Heat exchangers work on the principle of transferring the heat of two or greater fluids. These components are applicable in both applications whether that are for heating or cooling of fluids. Generally, the different fluids are segregated by a physical divider so that they do not come into direct contact with each other.
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The main factors boosting the market are:
The market is segmented on the basis of design type as plate bar, tube fin, others; vehicle type as passenger car, light commercial vehicle, heavy commercial vehicle; electric vehicle as BEV, HEV, PHEV; off-highway vehicle type as agricultural equipment, construction equipment; application as radiators, oil coolers, intercoolers, air conditioning, exhaust gas heat exchanger, others.
Some of the recent market developments are as follows:
“According to Data Bridge Market Research, global automotive heat exchanger market is expected to be growing at a substantial CAGR of 7.10% during the forecast period of 2019 to 2026”
Some of the major players operating in the market are AKG Thermal Systems, Inc., American Industrial Heat Transfer, Inc., Banco Products (I) Ltd, Climetal S.L. - Heat Exchanger, Constellium, DENSO CORPORATION., G&M Radiator Mfg Ltd, HRS Process Systems Ltd., MAHLE GmbH, MODINE MANUFACTURING COMPANY, Nippon Light Metal Co.,Ltd, Precision Micro, Valeo, T.RAD Co., Ltd, Calsonic Kansei Corporation, Hanon Systems., Radiant Heat Exchanger Pvt. Ltd., HRS Process Systems Ltd., Universal Heat Exchangers Limited, AIC.
With the advent of electric vehicles worldwide, the usage of automotive heat exchanger has expanded as their applications are not just limited to radiators and HVAC components, they are being utilized for the management of battery management to ensure that they do not overheat and subsequently result in failure. This management is enhancing the opportunities available for the market players to target potential customers.
Global Automotive Heat Exchanger Market – Industry Trends and Forecast to 2028