PUNE, India, April 5, 2018 /PRNewswire/ --
According to a new market research report "Automotive Heat Exchangers Market by Application (Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, & Radiator), Design Type, Electric Vehicle Type, Off-Highway Vehicle, Vehicle Type, Region - Global Forecast to 2025" published by MarketsandMarkets™, the market is projected to grow at a CAGR of 6.61 % from USD 19.21 Billion in 2017 to USD 32.05 Billion by 2025.
Browse 77 market data Tables and 42 Figures spread through 134 Pages and in-depth TOC on "Automotive Heat Exchangers Market"
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The key growth drivers of this market are the increase in demand for HVAC system in high-end commercial vehicles and off-highway vehicles, along with the rising demand for turbocharged and supercharged vehicles which require intercoolers. The growth can also be attributed to the increasing demand for BEVs and PHEVs, which require battery thermal management systems for battery cooling.
The air conditioning system segment is estimated to be the largest segment in the Automotive Heat Exchangers Market, by application
The air conditioning system segment is estimated to hold the largest market share in the global Automotive Heat Exchangers Market, by application. With the growing demand for comfort and convenience, the adoption of these systems is increasing in commercial vehicles. This is prompting the growth of air conditioning system segment in Automotive Heat Exchangers Market.
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Plate Bar segment is estimated to be the fastest growing segment in the Automotive Heat Exchangers, by design type
The Automotive Heat Exchangers Market for plate bar heat exchanger segment is estimated to grow at the highest rate during the forecast period. This type is mostly used in commercial and off-highway vehicles which require a high degree of durability. Factors such as the development of infrastructure and increasing demand for commercial vehicles for freight transport are driving the growth of the plate bar segment.
Asia Pacific: Largest regional market for Automotive Heat Exchangers
Asia Pacific is estimated to be the largest regional market for Automotive Heat Exchangers. The Asia Pacific region accounts for about 50% of the global automobile production. The region comprises emerging economies such as China and India along with developed nations such as Japan and South Korea. The growth of this market can be attributed to the increase in production and demand for passenger cars and electric vehicles.
The report covers all the major players in the Automotive Heat Exchangers Market, including Denso (Japan), Mahle (Germany), Valeo (France), Dana (US), and Hanon (South Korea).
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