Global Automotive Heat Exchanger market will reach 25271.7 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/14

In the last several years, the development of automotive heat exchanger industry is relative stable with average growth rate of 3.6%. In 2018, the global production is about 690 million units. The automotive heat exchanger market was valued at 21389.6 M USD in 2018 and is projected to reach 25271.7 M USD by 2025, at a CAGR of 2.41% during the forecast period.

At present, in United States, Europe and Japan, the automotive heat exchanger industry is at a more advanced level, the world's most advanced enterprises are mainly concentrated in these regions. These companies have more advanced equipment, strong R & D capability, the technical level is in a leading position. But these companies’ manufacturing cost is relatively high, compared with Chinese companies, the manufacturing cost is a competitive disadvantage, as the Chinese automotive heat exchanger manufacturers’ technology continues to improve, their share in the international market is increasing, competitiveness in the international market will gradually increase. International giants also have set up factories in China. China becomes the largest producer with share about 29% owing to huge demand for automotive and lower manufacturing cost.

Asia Pacific is the largest regional market for automotive heat exchangers. The Asia Pacific region accounts for over 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 global market for automotive heat exchanger is dominated by large vendors having substantial budgets for research and development of new technologies and innovative products. Companies such as Denso, Mahle, Valeo, Hanon System, Modine and Calsonic Kansei command prominent positions in the global market owing to their strong geographic presence, excellent distribution networks, and the financial power to acquire niche device developers across the globe.

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