Automotive Heat Exchanger Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company's Automotive Heat Exchanger Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 8, 2023 /EINPresswire.com/ -- The global automotive heat exchanger market is forecasted to witness steady growth, with a projected increase from $24.5 billion in 2022 to $27.06 billion in 2023, demonstrating a Compound Annual Growth Rate (CAGR) of 10.5%. Despite the adverse impact of the Russia-Ukraine conflict and the lingering effects of the COVID-19 pandemic on the global economy, the market is anticipated to expand to a valuation of $37.97 billion by 2027, reflecting a notable CAGR of 8.8%. This growth is primarily attributed to the surge in commercial and passenger vehicle production, which drives the demand for automotive heat exchangers globally.
Rising Vehicle Production Boosting Demand for Automotive Heat Exchangers
The significant increase in the production of both commercial and passenger vehicles has emerged as a key driver fostering the growth of the automotive heat exchanger market. With the robust production of automobiles, there is a heightened demand for various automotive components, including heat exchangers, required for the assembly of new vehicles. Notably, the steady growth in passenger vehicle production, as indicated by the China Association of Automobile Manufacturers, which reported a 7.1% year-on-year increase, reaching approximately 21.408 million units in 2021, has substantially contributed to the upward trajectory of the automotive heat exchanger market.
Check out the comprehensive global automotive heat exchanger market analysis in the sample report:
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Key Market Players and Technological Advancements in Automotive Heat Exchangers
Industry leaders in the automotive heat exchanger sector, such as ABB Ltd., General Electric, and Siemens, are driving technological advancements and product innovations to solidify their market position. The focus on developing innovative heat exchanger designs underscores their commitment to delivering superior and cutting-edge solutions in the automotive heat exchanger market. Notably, the partnership between Conflux Technology and Dallara, which aims to leverage additive manufacturing technology to develop advanced 3D printed heat exchanger designs, showcases the industry's commitment to enhancing thermal exchange efficiency, reducing pressure drop, and optimizing weight.
Segments:
• Design Type: Tube Fin, Plate Bar, Other Design Types
• Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
• Electric Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)
• Application: Radiators, Oil Coolers, Intercoolers, Air Conditioning Systems, Exhaust Gas Heat Exchangers, Other Applications
Global Market Dynamics and Regional Landscape
The Asia-Pacific region emerged as the largest market for automotive heat exchangers in 2022 and is anticipated to be the fastest-growing region during the forecast period. The comprehensive market dynamics and evolving trends across different regions underscore the significant opportunities and technological advancements shaping the global automotive heat exchanger landscape, reflecting the industry's commitment to innovation, technological advancement, and sustained market growth.
For in-depth insights into the global automotive heat exchanger market, access the complete report here:
https://www.thebusinessresearchcompany.com/report/automotive-heat-exchanger-global-market-report
Automotive Heat Exchanger Global Market Report 2023from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Heat Exchanger Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive heat exchanger market size, automotive heat exchanger market drivers and trends, automotive heat exchanger market major players, automotive heat exchanger market competitors' revenues, automotive heat exchanger market positioning, and automotive heat exchanger market growth across geographies. The automotive heat exchanger market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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