Automotive Heat Exchanger Market Industry Share, By Product Analysis, Application, End-Use, Regional Outlook, Competitive Strategies & Forecast up to 2027

 


A heat exchanger is a device designed to efficiently exchange the heat from one medium to another at different temperatures. Heat exchangers such as SIGMA plate and aluminum heat exchangers used in the automotive industry benefits the vehicles by cooling the machine coolants and performing motor test stands, among others. In addition to this, heat exchangers provide high performance, expanded productivity which positively influences the growth of the global automotive heat exchanger market.


The Automotive Heat Exchanger Market for passenger cars is estimated to account for the largest market share, in terms of value. The growth can be attributed to the rise in production of passenger cars globally, high demand for premium vehicles and SUVs, and high-performance expectation from personal vehicles. The global demand for passenger cars is higher than commercial vehicles and is expected to grow further


The electric vehicles segment held the largest share in 2016 and is projected to retain its dominance throughout the forecast period. The various heat exchangers such as liquid-cooled plate, plate-to-plate are used in the electric vehicles for cooling and improving the battery life. The increasing number of electric vehicles will directly impact the Automotive Heat Exchanger Market. For instance, according to the International Energy Agency (IEA) analysis, in 2016, the sales of electric cars were pegged at 750 thousand, globally. This positions the segment as the dominant segment in the market.


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