Automotive Heat Exchanger Market (By Product Type: Shell and Tube Heat Exchanger, Plate and Frame Heat Exchanger, Air-Cooled Heat Exchanger & Others. By End-User Type: Oil and Gas, Power Generation, Pulp and Paper, Chemical and Petrochemical & Others. By Region - North America, Europe , Asia-Pacific , LAMEA) - Global Market Analysis, Growth, Trends & Forecast, 2022-2032

The global automotive heat exchanger market was valued at $22.4 billion in 2021 and it is expected to reach $45.7 billion at a CAGR of 6.6% between 2022 and 2032. The market is anticipated to be driven by rising demand from a variety of industries, such as chemical and petrochemical, and power generating, as well as an increased focus on raising efficiency requirements.

By region, Asia-Pacific region dominates the global automotive heat exchanger market with significant market share.           

The radiator, located in the middle of a motor vehicle's cooling system, serves as the "heat exchanger" within a car or truck. A vehicle's radiator is an air-to-liquid heat exchanger made of metals like copper, brass, and aluminum. A heat exchanger is a device that transfers heat from one working fluid to another. Both cooling and heating operations employ heat exchangers. The liquids may be in direct contact or separated from one another by a solid wall to prevent mixing. Moreover, several benefits of the automotive heat exchanger are expected to drive the growth of the market. This kind of heat exchanger is typically used to transfer heat between two fluids utilizing metal plates. Maintaining the fluid pressure and temperature will allow plate bar heat exchangers to operate at their best. The channel through which the fluid flows is created by the space between two adjacent plates. 

Source: SAI Research

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The market for automotive heat exchangers is primarily driven by the rising demand for turbochargers in automated vehicles. The use of turbochargers in a vehicle results in a variety of benefits, including improved high altitude performance, decreased emissions, and decreased fuel consumption. For instance, a turbocharged engine can cut fuel consumption and emissions by 2% to 6% compared to a conventional engine, according to Natural Resources Canada (NRC). As a result, the market for automotive heat exchangers would benefit from increased demand for turbochargers in automated vehicles. Furthermore, the increasing use of electric vehicles has compelled producers of conventional heat exchanger systems to develop an effective battery thermal management system and broaden their product line. Throughout the forecast period, this aspect is anticipated to create new opportunities for the market. The volatility of raw material prices and the difficulty of designing cutting-edge, lightweight heat exchangers are the two main restraints on the worldwide automotive heat exchanger industry. These are estimated to accelerate market growth during the forecast period.

However, Heat can be transferred from one medium to another at different temperatures thanks to automotive heat exchange. Although a metal with strong heat transmission qualities separates the two mediums, they both contain fluids that flow toward one another. As they both move through the heat exchanger, the hot liquid transfer heat to the cold liquid, lowering the hot liquid's high temperature and increasing the warmth of the cold liquid. The scope of the study includes information on the most recent market trends, technologies, and developments. In addition, in the upcoming years, it is anticipated that rules governing car CO2 emissions would become more stringent in nations including the US, Japan, and China. Additionally, automakers are continually concentrating on implementing cutting-edge technologies like the electrification of vehicles. Electric powertrains are anticipated to replace ICE-powered vehicles soon due to the negative environmental effects of vehicle emissions.

Based on product type, the global automotive heat exchanger market is segmented into shell and tube heat exchangers, plate and frame heat exchangers, air-cooled heat exchangers, and others. The plate and frame heat exchanger segment held the largest share of the market and is anticipated to accelerate the market growth during the forecast period. A plate bar heat exchanger is made up of several parallel plates stacked one on top of the other to create a network of channels for fluid movement. This kind of heat exchanger is typically used to transfer heat between two fluids utilizing metal plates. Maintaining the fluid pressure and temperature will allow plate bar heat exchangers to operate at their best.

In terms of end-user type, the market is categorized into oil and gas, power generation, pulp and paper, chemical and petrochemical, and air cooler, among others. The air cooler segment has held the largest market share and is anticipated to accelerate market growth over the upcoming years. For the forecast period, the category for air conditioning is anticipated to have the greatest CAGR. In addition to helping houses and buildings stay cool and warm, heat exchangers can improve the productivity of machinery and motors.

Geographically, the Asia-Pacific region holds the largest share of the market and is estimated to hold its dominant position over the upcoming years. The largest and fastest-growing market for automotive heat exchangers is anticipated to be in the Asia Pacific. Due to cheap production costs and the accessibility of low-cost labor, the Asia Pacific area has recently emerged as a center for the manufacture of automobiles. Thus, compared to the developed markets in Europe and North America, the Asia Pacific region has experienced significant growth. The area has been a center for the manufacture of automobiles in recent years. The region's demand for cars has been sparked by the increase in purchasing power. The cost advantages for OEMs present an exciting potential for automakers and suppliers of automotive components in this region. 

According to the study, key players such as AKG Verwaltungsges (Germany), Banco Products (India), Clizen Inc (South Korea), Constellium (France), Climetal (Spain), Denso (Japan), G&M (U.K), Hanon Systems (South Korea), MAHLE Stiftung GmbH (Germany), SGL Carbon (Germany), T.RAD (Japan), Visteon (U.S), Valeo (France), Wuxi GuanYun (China), among others are leading the global automotive heat exchanger market.

Scope of the Report:

The Global Automotive Heat Exchanger Market Has Been Segmented Into:

The Global Automotive Heat Exchanger Market – by Product Type:   

• Shell and Tube Heat Exchanger
• Plate and Frame Heat Exchanger
• Air-Cooled Heat Exchanger
• Others

The Global Automotive Heat Exchanger Market – by End-User Type:   

• Oil and Gas
• Power Generation
• Pulp and Paper
• Chemical and Petrochemical
• Others

The Global Automotive Heat Exchanger Market – by Regions:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA

• Middle East
• Saudi Arabia
• UAE
• Others
• Latin America
• Brazil
• Chile
• Others
• Africa
• South Africa
• Egypt
• Others