Automotive Heat Exchanger Market Report 2022: Increasing Demand for Battery Thermal Management Systems Provides Opportunity – – Business Wire | CarTailz

DUBLIN–(BUSINESS WIRE)–The “Automotive Heat Exchanger Market by Propulsion & Component (ICE, EV), Electric Vehicle Type (BEV, PHEV, HEV), Design (Plate Bar, Tube Fin), Vehicle Type, Off-Highway Vehicle Type (Pkw , LCV, Truck, Bus) and Region – Global Forecast to 2027” has been added Offer.

The global automotive heat exchanger market is expected to grow from US$28.9 billion in 2022 to US$34.3 billion in 2027 at a CAGR of 3.5%. Parameters such as the increasing demand for hybrid and plug-in hybrid vehicles and the steady increase in vehicle production will increase the demand for automotive heat exchangers. Additionally, advances in mobility solutions coupled with increasing demand for battery thermal management systems will create new opportunities for this market.

The PHEV segment is expected to grow significantly by electric vehicle type during the forecast period.

The PHEV segment of the automotive heat exchanger market is expected to experience appreciable growth during the forecast period. PHEVs have rechargeable batteries that can be charged by connecting to external power sources. PHEVs share characteristics of both electric vehicles and conventional ICE vehicles. PHEVs have a higher electric range than HEVs and do not have the range anxiety associated with BEVs. Also, PHEVs can travel longer distances than BEVs due to the presence of an ICE. There are two main types of PHEVs: series PHEV and parallel PHEV. In production PHEVs, only the electric motor is connected to the wheels, and the ICE is used to generate electricity for the electric power. On the other hand, in parallel PHEVs, both the electric motor and the ICE are connected to the powertrain.

The increasing number of charging stations in China, the US and the UK is likely to increase demand for PHEVs. The demand for PHEVs is also expected to increase due to tax benefits and incentives provided by various governments. For example, the Japanese government provides subsidies of up to $8,500 for PHEVs. Countries in Europe, North America, and Asia-Pacific have supported PHEV growth through vehicle ownership tax breaks, government incentives, fee-based incentives, and a wide fuel price differential.

North America is projected to be the second largest market during the forecast period.

It is estimated that the North American region will witness significant growth over the forecast period. Several large OEMs such as Ford, General Motors and Fiat-Chrysler are represented in North America. Additionally, the presence of key automotive heat exchanger manufacturers such as Dana Incorporated (US), Modine Manufacturing Company (US), BorgWarner Inc. (US) and Griffin Thermal Products (US) will provide the necessary boost to the automotive heat exchanger market in North America during of the forecast period. The US is estimated to account for the largest share of the North American automotive heat exchanger market. The US automotive industry is strongly inclined towards innovation, technology and the development of safe and comfortable cars. The US automotive industry is still heavily dependent on internal combustion engines and is therefore the outstanding segment. In 2021, the country produced over 6.3 million passenger cars (including SUVs). The country also has many electric vehicle manufacturers such as Tesla, GM and Nissan.

market dynamics


  • revival of the automobile industry

  • Increasing demand for hybrid and plug-in hybrid vehicles

  • Increasing use of HVAC systems in high value commercial and off-highway vehicles


  • Increasing demand for BEVs

  • Probable decline in sales of internal combustion engines


  • Increasing demand for battery thermal management systems

  • Advances in mobility solutions


  • Upcoming emission standards pose challenges for EGR and intercoolers

Main topics covered:

1 Introduction

2 research methodology

3 Summary

4 premium insights

5 Market Overview

6 Automotive Heat Exchangers Market, by Powertrain and Components

7 Automotive Heat Exchanger Market by Design

8 Automotive Heat Exchangers Market, by Vehicle Type

9 Automotive Heat Exchanger Market, by EV Type

10 Automotive Heat Exchanger Market, by Off-Highway Vehicle Type

11 Automotive Heat Exchanger Market by Regions

12 competitive landscape

13 company profiles

14 recommendations

15 Appendix

companies mentioned

  • akg group

  • Banco Products (India) Ltd.

  • Borgwarner Inc.

  • Klimat SL

  • CLIZEN Inc.

  • Dana Incorporated

  • Denso Corporation

  • G&M cooler

  • Griffin thermal products

  • Hanon systems

  • Mahle GmbH

  • Marelli Corporation

  • Modine Manufacturing Company

  • Nippon Light Metal Holdings Company, Ltd.

  • Nissens Automotive A/S

  • Sanden Corporation

  • senior plc

  • Sm Auto Engineering Pvt Ltd.

  • Swami Vessels Private Limited

  • T.Rad Co.Ltd.

  • Tyc Brother Industrial Co.Ltd.

  • Valeo

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