Northbrook, IL -- (SBWIRE) -- 12/19/2018 -- According to recent research "Automotive Heat Exchanger 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", The automotive heat exchanger market is projected to grow at a CAGR of 6.61 %, from USD 19.2 billion in 2017 to USD 32.1 billion by 2025

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The key growth drivers of this market are the increase in demand for the HVAC system in high-end commercial vehicles and off-highway vehicles, along with the rising demand for turbocharged and supercharged vehicles which requires intercoolers is to drive the automotive heat exchanger market. The growth can also be attributed to the increasing demand for BEVs and PHEVs, which requires battery thermal management systems for battery cooling.

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The tube fin segment is estimated to be the largest segment in the Automotive Heat Exchanger Market

The tube fin system segment is estimated to hold the largest market share in the global automotive heat exchanger market. Tube fins are the most widely used heat exchangers in the automotive domain. This type of heat exchangers is used in car radiators and the condensers and evaporator coils of HVAC systems. The growing demand for comfort and convenience and the adoption of these systems is increasing in commercial vehicles which are promoting the growth of the tube fin segment in automotive heat exchanger market.

Construction equipment segment is estimated to be the fastest growing segment in the Automotive heat exchangers

The construction equipment vehicle segment is estimated to be the fastest growing segment of automotive heat exchanger market. Infrastructure development, especially in countries such as China and India, is supporting the growth of this market. Moreover, the construction sector in North America is also reviving, with governments taking initiatives such as the Build America Investment Initiative, Canada's Economic Action Plan, and the National Infrastructure Plan (NIP) which will propel the demand for automotive heat exchangers in construction equipment segment.

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Asia Pacific: the Largest regional market for Automotive heat exchangers

The Asia Pacific is estimated to be the largest 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 exchanger market, including Denso (Japan), Mahle (Germany), Valeo (France), Dana (US), Hanon (South Korea), Calsonic Kensai (Japan), Sanden (Japan), T. Rad (Japan).

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