Market Research Report
Global Automotive Heat Exchanger Market Size study, by Application, Design Type, Vehicle Type and Regional Forecasts 2020-2027
|Published by||Bizwit Research & Consulting LLP||Product code||962914|
Delivery time: 2-3 business days
|Global Automotive Heat Exchanger Market Size study, by Application, Design Type, Vehicle Type and Regional Forecasts 2020-2027|
|Published: October 1, 2020||Content info:||
Global Automotive Heat Exchanger Market Size study
by Application (Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, & Radiator), Design Type (Plate bar, Tube Fin, Others), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Agriculture Equipment, Construction Equipment, Electric Vehicles) and Regional Forecasts 2020-2027.
Global Automotive Heat Exchanger Market is valued approximately USD 21.72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.71 % over the forecast period 2020-2027. A heat exchanger allows the transfer of heat from one medium to another at varying temperatures. In the Automotive heat exchangers, the two mediums contain fluids which flow in proximity to each other but are separated by a metal having good heat transfer properties. Of the two fluids one is hot and other cold and when the temperature of the hot fluid rises the heat is transferred to the cold fluid. Thus, these exchangers form an integral component of automobiles. As increasing thermal efficiency, demand for turbocharged engines & automatic transmission are the factors positively impacting automotive production. The rising production of vehicles and increasing demand for passenger cars drives the market for automotive heat exchangers. In terms of automobile production, the global automobile market produced 95.76 million units in 2018 and is expected to reach around 115 million units by 2021. Also, rising trend of engine downsizing coupled with advancement in light weight automotive materials augments the market growth. Furthermore, growing penetration of electric vehicles and hybrid vehicles fuel the market growth during the forecast period. As per Electric vehicles volumes, the first half of 2019 experienced delivery of 149,500 plug-in vehicles accounting to an increase of 23% as compared to its value from 2018. 72% of these were pure electric (BEV) and 28% were plug-in hybrids. Moreover, growth in the automotive sector and rising investments in automotive heat exchanger manufacturing companies across the world is set to influence the market significantly during the forecast period. However, volatility in the prices of raw materials and complex design impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Automotive Heat Exchanger market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.Asia-Pacific is the leading/significant region across the world in terms of market share owing to the large base of manufacturing companies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing automobile penetration would create lucrative growth prospects for the Automotive Heat Exchanger market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Target Audience of the Global Automotive Heat Exchanger Market in Market Study: