New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Heat Exchanger Global Market Report 2022", Climetal S.L., Clizen Inc., Constellium SE, G&M Radiator, API Heat Transfer, and Robert Bosch GmbH.
The global automotive heat exchanger market is expected to grow from $21.75 billion in 2021 to $24.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The automotive heat exchanger market is expected to grow to $32.05 billion in 2026 at a CAGR of 7.4%.
The automotive heat exchanger market consists of sales of automotive heat exchangers by entities (organizations, sole traders, partnerships) that are used to remove heat from the automotive mechanical systems.The automotive heat exchanger is a device designed for the automobile industry that allows heat to be transferred between two mediums at different temperatures.
The mediums consist of fluids that are separated by a material such as metals with heat transfer properties and flow close to each other.
The main types of designs in the automotive heat exchangers are tube fin, plate bar, and others.Fin tubes are the main component of a heat exchanger system.
Primarily the efficiency of a heat exchanger depends on the heat transfer capabilities of finned tubes.The different types of vehicles include passenger cars, light commercial vehicles, and heavy commercial vehicles and involve various electric vehicles such as battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV).
It is used in several applications including radiators, oil coolers, intercoolers, air conditioning systems, exhaust gas heat exchangers, and others.
Asia Pacific was the largest region in the automotive heat exchanger market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive heat exchanger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing production of commercial and passenger vehicles is significantly contributing to the growth of the automotive heat exchanger market.Passenger vehicles are automobiles that are used to transport passengers, whereas commercial vehicles transport a larger number of people for business purposes.
The high production of automobiles requires a large number of automotive parts including automotive heat exchangers to be installed in the new vehicle, thereby promoting the automotive heat exchanger market growth. For instance, according to the China Association of Automobile Manufacturers, the production of passenger vehicles was approximately 21.408 million in 2021, up 7.1% year on year. Therefore, the increasing production of commercial and passenger vehicles is expected to propel the growth of the automotive heat exchanger market going forward.
Product innovations have emerged as a key trend in the automotive heat exchanger market.Major companies operating in the automotive heat exchanger sector are focused on developing innovative heat exchangers to reinforce their position.
For instance, in January 2022, Conflux Technology, an Australia-based additive manufactured heat exchanger expert company is developing the most advanced additively manufactured 3D printed heat exchangers designs using metal 3D printing technology in partnership with Dallara.It is a small heat exchanger that meets stringent quality, performance, and cost targets.
The 3D printed heat exchanger is efficient in high thermal exchange, low pressure drop, and low weight.
In May 2021, Hanon Systems, a South Korea-based automotive thermal and energy management solutions company acquired a condenser business from Keihin Corporation for an undisclosed amount.Through this acquisition, Hanon Systems aims to expand its ability to supply condenser technology to automakers and diversify the customer base.
Keihin Corporation is a Japan-based automotive and motorcycle parts company that operates in the manufacturing of heat exchangers for automobiles.
The countries covered in the automotive heat exchanger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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