The market research report segments the automotive heat exchanger market in APAC by applications (radiators, intercooler, and oil coolers) and key nations (China, Japan and India). The study includes an analysis of the leading vendors in the market such as Denso, Mahle, Valeo, and Visteon.
Technavio has released updated information on the heat exchanger market, with the publication of its new report, automotive heat exchanger market in APAC. The automotive heat exchanger market in APAC is expected to grow at a CAGR of around 10% between 2015 and 2019, thanks to increased sales of automobiles and LCVs in India and China.
Increasing demand for lightweight automobiles has encouraged automobile OEMs to use lighter materials such as plastics and aluminum as raw materials for manufacturing automotive vehicles.
“High thermal conductivity of aluminum and its corrosion-resistant feature has led to increased usage of aluminum in the automotive heat exchanger market. Now-a-days, a variety of tube- or fin-design aluminum heat exchangers are available in the market. Novelis is using advanced technologies like flex caster continuous casting technology, TRC technology fusion, TM multi-layer casting technology, and DC processing technology to make superior aluminum sheet heat exchangers for the HVAC systems,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
Heat exchanger market in APAC (2014-2019)
Source: Technavio Research
Of late, hybrid vehicles have gained traction in the automotive sector as the most energy-efficient form of road transportation. This has led to increased demand for heat exchangers in hybrid powertrains. These vehicles require additional low-temperature heat exchangers, along with normal heat exchangers, for regulated battery cooling. Targeting the growing demand for low-temperature heat exchangers, the key automotive heat exchanger vendors have introduced battery-cooling solutions for hybrid vehicles.
Leading vendors of the automotive heat exchangers market include Denso, Mahle, Valeo, and Visteon. The market highly competitive and is characterized by the presence of well-diversified international and regional vendors. With the international players increasing their share in the automotive heat exchanger market, the regional vendors are finding it difficult to compete with them, especially in terms of product quality, features, safety, and price.
This market study includes an in-depth analysis and market shares and sizes of the sub-segments and geography. A competitive analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
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