Automotive Heat Exchanger MarketSize and Trends

A heat exchanger is a device designed to efficiently exchange the heat from one medium to another at different temperatures. Heat exchangers such as SIGMA plate and aluminum heat exchangers used in the automotive industry benefits the vehicles by cooling the machine coolants and performing motor test stands, among others. In addition to this, heat exchangers provide high performance, expanded productivity which positively influences the growth of the global automotive heat exchanger market.

Increasing demand for turbochargers is a major factor driving the growth of automotive heat exchanger market

The increasing demand for turbochargers in automated vehicles is a major driver for the automotive heat exchanger market. Using turbochargers in the vehicle enables enhanced high altitude performance, reduced emissions, and reduced fuel consumption, among others. For instance, according to Natural Resources Canada (NRC) a turbocharged engine can reduce fuel consumption and emissions by 2% to 6% compared to the conventional engine. Therefore, increasing the demand for turbochargers in the automated vehicles would positively impact for propelling the growth of automotive heat exchanger market.

Electric vehicles segment to hold the largest share in the market

The electric vehicles segment held the largest share in 2016 and is projected to retain its dominance throughout the forecast period. The various heat exchangers such as liquid-cooled plate, plate-to-plate are used in the electric vehicles for cooling and improving the battery life. The increasing number of electric vehicles will directly impact the automotive heat exchanger market. For instance, according to the International Energy Agency (IEA) analysis, in 2016, the sales of electric cars were pegged at 750 thousand, globally. This positions the segment as the dominant segment in the market.