PRESS RELEASE
Published June 19, 2023
Market Overview:
The Global Electric Vehicle Heat Exchanger Market Is Anticipated to Develop At A Significant Growth Rate Over The Analysis Period 2023-2030.
Vehicle emissions can be reduced through various measures such as changes in vehicle dynamics, weight reduction, and the adoption of high-strength steel (HSS) and aluminum in vehicle chassis. Automotive heat exchangers like EGR systems are widely used to reduce NOx emissions by recirculating a regulated portion of the exhaust gas back into the engine. In the electric vehicle (EV) market, advancements include ultra-fast charging, battery swapping, V2V charging, new battery technologies, and the development of components like in-wheel motors and e-axles. Many countries provide incentives for EV buyers, such as the United States offering a USD 7,500 tax credit for battery electric vehicles (BEVs) and a varying reduction for plug-in hybrid electric vehicles (PHEVs). The UK also contributes around 35% of the electric vehicle cost, up to USD 3,600.
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Top Key Players in Electric Vehicle Heat Exchanger Market:
- AKG Thermal Systems Inc. (US)
- American Industrial Heat Transfer Inc. (US)
- Banco Products (India) Ltd (India)
- Climetal SL – Heat Exchanger (Spain)
- Constellium SE (Netherlands)
- DENSO Corporation (Japan)
- G&M Radiator Mfg Ltd (Canada)
- Hanon Systems (South Korea)
- MAHLE GmbH (Germany)
- MODINE MANUFACTURING COMPANY (US)
- Nippon Light Metal Holdings Co. Ltd (Japan)
- Valeo SA (France) and Other Major Players
Market Dynamics and Factors:
The increasing demand for battery electric vehicles (BEVs) is a significant driving force behind the growth of the electric vehicle heat exchanger market. As more consumers embrace electric vehicles and governments push for cleaner transportation solutions, the need for efficient thermal management systems in EVs becomes paramount. Electric vehicle heat exchangers play a crucial role in maintaining optimal operating temperatures for key components such as batteries, power electronics, and electric motors. This surge in BEV demand has led to advancements in heat exchanger technologies, with companies investing in research and development to develop compact, lightweight, and high-performance heat exchangers. As a result, the electric vehicle heat exchanger market is experiencing substantial growth, and this trend is expected to continue as the adoption of BEVs continues to rise worldwide.
The high growth opportunity for passenger electric vehicles (EVs) presents significant opportunities in the electric vehicle heat exchanger market. As the demand for passenger EVs continues to soar, driven by factors such as government incentives, environmental concerns, and advancements in EV technology, the need for efficient thermal management systems becomes crucial. Electric vehicle heat exchangers play a vital role in maintaining optimal temperatures for EV components, ensuring their performance, reliability, and longevity. This creates a favorable environment for manufacturers and suppliers of electric vehicle heat exchangers to capitalize on the market opportunity and develop cutting-edge solutions to meet the evolving needs of the passenger EV segment.
The Report Will Include a Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
- Investment Analysis
Key Industry Development:
In April 2022, Hertz and Polestar have recently announced a global strategic partnership aimed at expediting the adoption of electric vehicles (EVs). Through this collaboration, the two companies will work together to promote and facilitate the widespread use of EVs worldwide. Hertz and Polestar have formed a new global partnership, as announced in April 2022, which involves the procurement of up to 65,000 electric vehicles (EVs) within a span of five years.
In September 2021, A recently established partnership aims to collaborate on the development of hydrogen-powered EV charging stations. The focus of this collaboration is to create an infrastructure that supports the charging of electric vehicles using hydrogen fuel cells. GreenCore and Loop Energy have recently formed a partnership to tackle the issue of “range anxiety” and enhance the practicality of electric vehicles (EVs). This collaboration will specifically concentrate on the design and advancement of fast-charging stations powered by hydrogen.
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Electric Vehicle Heat Exchanger Market Report Highlight:
- By Electric Type, BEV holds a larger market share as compared to PHEV, The battery electric vehicle (BEV) segment plays a significant role in the electric vehicle heat exchanger market. BEVs are fully electric vehicles that rely solely on battery power for propulsion.
- By Design, the plate bar segment is a significant component of the electric vehicle heat exchanger market. Plate bar heat exchangers are compact and efficient, making them well-suited for thermal management in electric vehicles. These heat exchangers consist of a series of plates and fins that enable effective heat transfer between different fluids, such as coolant and air.
- By Vehicle type, the passenger car segment is a crucial part of the electric vehicle heat exchanger market. As the demand for electric passenger cars continues to rise, there is an increasing need for efficient thermal management systems in these vehicles.
- The APAC has experienced significant growth in EV adoption, with countries like China, Japan, and South Korea leading the way. These countries have implemented favorable policies, incentives, and infrastructure development to promote EV usage. The large and growing EV market in APAC drives the demand for efficient thermal management systems like heat exchangers.
Central to our report are the company profiles and competitive analysis, providing insights into market players’ overview, market roles, and operating business segments. We evaluate their financial performance, production volume, sales volume, and sales margin while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Electric Vehicle Heat Exchanger Market.
Electric Vehicle Heat Exchanger Market Segmentation:
By Electric Vehicle Type
- BEV
- PHEV
- HEV
By Design
- Plate Bar
- Tube Fin
By Vehicle Type
- Passenger Car
- LCV
- Truck
- Bus
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For this report, Introspective Market Research has segmented the Electric Vehicle Heat Exchanger Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
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Scope of the Report:
The latest research on the Electric Vehicle Heat Exchanger market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Electric Vehicle Heat Exchanger industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Electric Vehicle Heat Exchanger market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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