Automotive heat exchanger market to grow at a CAGR of 6.41% between 2022 and 2027; Heavy dependence on IC engines to boost market – Technavio

NEW YORK, Feb. 24, 2023 /PRNewswire/ — According to Technavio, the global automotive heat exchanger market size is estimated to grow by USD 8,300.06 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.41% during the forecast period. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. It has exerted intense pressure on an already-stressed global automotive market. Yet, there are high predictions that few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. For Insights on covid recovery – Request a sample report

Global Automotive Heat Exchanger Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on application (passenger cars, LCVs, and M and HCVs), type (plate bar, tube fin, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• Based on the application, the market will witness significant growth in the passenger cars segment during the forecast period. Automotive OEMs continuously work on improving the efficiency of vehicles to reduce carbon emissions. As a result, there is a growing need for the development of advanced heat exchangers. Besides, some automakers are equipping passenger vehicles with brazed copper heat exchangers to provide a longer life span. Such factors are increasing the growth prospects in the segment.

Geography Overview

By geography, the global automotive heat exchanger market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive heat exchanger market.

• APAC will account for 54% of the market growth during the forecast period. APAC is emerging as the global hub for automobile manufacturing owing to the presence of favorable government policies, easy availability of raw materials, low cost of labor, and high adoption of vehicles. In addition, factors such as rising disposable incomes and the increasing launch of new vehicle models by OEMs are creating significant opportunities for vendors operating in APAC.

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Global Automotive Heat Exchanger Market – Market Dynamics

Key factor driving market growth

• The growth of the market is driven by the heavy dependence on IC engines for mobility in emerging countries.
• The lack of effective rail services forces freight companies operating in developing countries to choose roadways as a reliable mode of transportation.
• The high prices of railway freight services, poor last-mile connectivity, and the lack of enough freight trains are also forcing freight companies to prefer road transportation.
• Developing countries such as China and India rely more on internal combustion engine (ICE) vehicles for transportation.
• Heavy-, medium-, and light-duty vehicles are extensively used for transporting cargo in these countries.
• The high dependence on ICE vehicles for mobility and transporting cargo is increasing the demand for automotive heat exchangers, which is driving the growth of the market.

Leading trends influencing the market 

• The increasing popularity of brazed copper heat exchangers is a key trend in the market.
• Brazed copper heat exchangers offer several advantages over conventional heat exchangers.
• The manufacturing process of brazed copper heat exchangers has fewer production steps, higher throughput rates, and lower scrap rates. This is simpler and inexpensive when compared with the manufacture of aluminum heat exchangers.
• Brazed copper heat exchangers have thinner fin and tube materials, which significantly reduces the overall weight.
• Moreover, brazed copper offers superior thermal conductivity and better resistance to corrosion than conventional heat exchangers.
• Many such benefits are resulting in the replacement of aluminum heat exchangers by brazed copper heat exchangers in heavy vehicles.
• This trend will have a positive influence on the growth of the market during the forecast period.

Major challenges hindering market growth

• Gradual increases in annual wages leading to declining profit margins will reduce the growth potential in the market.
• Most automobile manufacturing firms are expanding their operations in low-cost countries such as China, Taiwan, South Korea, and India.
• The availability of established raw material supply chains and the easy availability of raw materials have further increased automotive parts manufacturing in these countries.
• However, with rising labor costs, these countries are gradually losing their cost advantages.
• For instance, the minimum worker wage in most of the major cities in China increased significantly in 2022 due to the growing shortage of workers.
• This is compelling automobile manufacturers to explore other means to maintain the low-cost advantage and their profit margins.
• These factors are adversely affecting the growth of automotive OEMs, which, in turn, is hindering the growth of the market.

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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 industry 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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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive heat exchanger market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global automotive heat exchanger market 2017 – 2021 ($ million)

• 4.2 Application Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ million)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Passenger cars – Market size and forecast 2022-2027
• Exhibit 34: Chart on Passenger cars – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Passenger cars – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Passenger cars – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger cars – Year-over-year growth 2022-2027 (%)

• 6.4 LCVs – Market size and forecast 2022-2027
• Exhibit 38: Chart on LCVs – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on LCVs – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on LCVs – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on LCVs – Year-over-year growth 2022-2027 (%)

• 6.5 M and HCVs – Market size and forecast 2022-2027
• Exhibit 42: Chart on M and HCVs – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on M and HCVs – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on M and HCVs – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on M and HCVs – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 47: Chart on Type – Market share 2022-2027 (%)
• Exhibit 48: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 49: Chart on Comparison by Type
• Exhibit 50: Data Table on Comparison by Type

• 7.3 Plate bar – Market size and forecast 2022-2027
• Exhibit 51: Chart on Plate bar – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Plate bar – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Plate bar – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Plate bar – Year-over-year growth 2022-2027 (%)

• 7.4 Tube fin – Market size and forecast 2022-2027
• Exhibit 55: Chart on Tube fin – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Tube fin – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Tube fin – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Tube fin – Year-over-year growth 2022-2027 (%)

• 7.5 Others – Market size and forecast 2022-2027
• Exhibit 59: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 63: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 North America – Market size and forecast 2022-2027
• Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.5 Europe – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 81: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 89: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 India – Market size and forecast 2022-2027 
• Exhibit 105: Chart on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Alfa Laval Corporate AB 
• Exhibit 116: Alfa Laval Corporate AB – Overview
• Exhibit 117: Alfa Laval Corporate AB – Business segments
• Exhibit 118: Alfa Laval Corporate AB – Key news
• Exhibit 119: Alfa Laval Corporate AB – Key offerings
• Exhibit 120: Alfa Laval Corporate AB – Segment focus

• 12.4 API Heat Transfer Inc. 
• Exhibit 121: API Heat Transfer Inc. – Overview
• Exhibit 122: API Heat Transfer Inc. – Product / Service
• Exhibit 123: API Heat Transfer Inc. – Key offerings

• 12.5 Clizen Inc. 
• Exhibit 124: Clizen Inc. – Overview
• Exhibit 125: Clizen Inc. – Product / Service
• Exhibit 126: Clizen Inc. – Key offerings

• 12.6 Conflux Technology Pty Ltd. 
• Exhibit 127: Conflux Technology Pty Ltd. – Overview
• Exhibit 128: Conflux Technology Pty Ltd. – Product / Service
• Exhibit 129: Conflux Technology Pty Ltd. – Key offerings

• 12.7 Constellium SE 
• Exhibit 130: Constellium SE – Overview
• Exhibit 131: Constellium SE – Business segments
• Exhibit 132: Constellium SE – Key offerings
• Exhibit 133: Constellium SE – Segment focus

• 12.8 Granges 
• Exhibit 134: Granges – Overview
• Exhibit 135: Granges – Product / Service
• Exhibit 136: Granges – Key offerings

• 12.9 Haugg Kuhlerfabrik GmbH 
• Exhibit 137: Haugg Kuhlerfabrik GmbH – Overview
• Exhibit 138: Haugg Kuhlerfabrik GmbH – Product / Service
• Exhibit 139: Haugg Kuhlerfabrik GmbH – Key offerings

• 12.10 Hisaka Works Ltd. 
• Exhibit 140: Hisaka Works Ltd. – Overview
• Exhibit 141: Hisaka Works Ltd. – Product / Service
• Exhibit 142: Hisaka Works Ltd. – Key offerings

• 12.11 MAHLE GmbH 
• Exhibit 143: MAHLE GmbH – Overview
• Exhibit 144: MAHLE GmbH – Business segments
• Exhibit 145: MAHLE GmbH – Key news
• Exhibit 146: MAHLE GmbH – Key offerings
• Exhibit 147: MAHLE GmbH – Segment focus

• 12.12 Modine Manufacturing Co. 
• Exhibit 148: Modine Manufacturing Co. – Overview
• Exhibit 149: Modine Manufacturing Co. – Product / Service
• Exhibit 150: Modine Manufacturing Co. – Key offerings

• 12.13 Nissens Group 
• Exhibit 151: Nissens Group – Overview
• Exhibit 152: Nissens Group – Product / Service
• Exhibit 153: Nissens Group – Key offerings

• 12.14 Senior Plc 
• Exhibit 154: Senior Plc – Overview
• Exhibit 155: Senior Plc – Business segments
• Exhibit 156: Senior Plc – Key offerings
• Exhibit 157: Senior Plc – Segment focus

• 12.15 Southwest Radiator Inc. 
• Exhibit 158: Southwest Radiator Inc. – Overview
• Exhibit 159: Southwest Radiator Inc. – Product / Service
• Exhibit 160: Southwest Radiator Inc. – Key offerings

• 12.16 Valeo SA 
• Exhibit 161: Valeo SA – Overview
• Exhibit 162: Valeo SA – Business segments
• Exhibit 163: Valeo SA – Key news
• Exhibit 164: Valeo SA – Key offerings
• Exhibit 165: Valeo SA – Segment focus

• 12.17 Vibrant Power Inc. 
• Exhibit 166: Vibrant Power Inc. – Overview
• Exhibit 167: Vibrant Power Inc. – Product / Service
• Exhibit 168: Vibrant Power Inc. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

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

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