US Automotive Heat Exchanger Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Automotive Heat Exchanger Market Analysis
The United States Automotive Heat Exchanger Market is expected to register a CAGR of about 8.6 % during the forecast period (2020 - 2025).
An automotive heat exchanger is used to transfer heat between two mediums at different temperatures that are in thermal contact with each other. For instance, in an internal combustion engine, the engine coolant flows in a circular motion through the radiator coils, and air flows past these coils to cool the engine. By the end of 2014, the automotive segment had acquired more than a 25% share in the global heat exchanger market.
The US automotive heat exchanger market is the most significant contributor in the global heat exchanger market. With stringency in the CAFÉ regulations regarding emission standards, the automakers are obtaining components, including aluminium heat exchangers, critical to the manufacturing of lightweight vehicles. The increasing demand for automotive parts had a direct influence on the need for automotive heat exchangers market.
The automotive radiator leads the Market with a share of more than 55% in the application type. The shell and tube type heat exchangers accounted for the largest share in the US heat exchangers market with extrusion/fin heat exchangers growing at a significantly high rate. However, previous designs and structures of the heat exchanger have caused corrosion, decomposition, settlement of sludge, and dust particles have led to fouling, which results in reduced heat transfer and restricted throughput, and this leads to higher fuel consumption.
US Automotive Heat Exchanger Market Trends
This section covers the major market trends shaping the US Automotive Heat Exchanger Market according to our research experts:
Growing Electric Vehicle Sales Boosting the Demand for Heat Exchangers
The sales and the production of the electric vehicles are further expected to witness a phenomenal growth rate, with many countries trying to achieve the zero-emission standards. Many economies around the world are aiming to eliminate pollutants from the vehicles by completely removing fossil fuel vehicles from the roads. The United States plans to have 100% zero-emission electric-powered vehicles on the way by the end of 2040.
To make this a possibility, the government is offering many incentives to the customers opting for electric-powered vehicles. The customers of electric cars are expected to get additional benefits, such as price subsidies, free parking, and tax exemptions, etc. In contrast, the buyers of regular vehicles are being levied heavy taxes. With further incentives from the regulating authorities and the availability of better electric cars, the sales are further expected to grow up in the country.
Stringent emission norms in the region have enabled it for a technological breakthrough in the production of fuel-efficient automotive heat exchangers. One such popular emerging trend apparent in the Market is the decline in the engine size of the vehicles, leading to the increased demand for two and three-cylinder engines. The sales of four-cylinder engines are expected to fall significantly, with the increased stringency of emission norms (since vehicle weight is directly proportional to the emission released). The increasing demand for small-sized automobiles will affect the demand for turbochargers, which would again propel the demand for heat exchangers, leading to the growth of the country's automotive heat exchanger market.
The United States is Leading the North American Heat Exchanger Market
Demand for passenger cars and LCVs in the United States is expected to grow during the forecast period, leading to high demand for automotive heat exchanger units in the United States. With the country offering many additional incentives to the ZEV's buyers and the strong motive of the alliance, the share of the electric vehicles is expected to grow rapidly in the United States. It has helped significantly in the growth of the Unites States automotive heat exchanger market.
The automotive heat exchanger manufacturers in the United States have started to invest heavily in the lightweight automotive material (such as aluminum), which is expected to significantly enhance the demand for automotive heat exchangers in the region. However, the availability of the critical raw materials has posed a significant concern in the Market, raising pricing concerns in the competitive and price-sensitive heat exchanger market. There was a shortfall in the supply of copper for the fifth consecutive year at the beginning of 2015. In the aluminum market, financial transactions such as the purchase of physical quantities, storage of these stocks in warehouses (owned by the London Metal Exchange), and simultaneous sales of the same in the Market posed a challenge. The shortage of any raw material results in price hikes and attempts have been made to address this issue through the use of alternative materials.
Therefore, automotive heat exchanger manufacturers continuously remain under pressure from OEMs with regard to the pricing of the automotive heat exchangers, making them extremely sensitive to fluctuations in the raw material prices. Also, fouling mitigation mechanisms, when devised in an automotive heat exchanger, further add to the cost of manufacturing automotive heat exchangers. Although managing costs while meeting the increased product complexity is a significant challenge for automotive heat exchanger vendors.
US Automotive Heat Exchanger Industry Overview
The United States Automotive Heat Exchanger Market is fragmented with major players such as DENSO Corporation, Hanon System, JiClimetal, Valeo and Visteon. Although to have the edge over its competitors, the major heat Exhanger companies are making joint-ventures, partnerships with car manufacturing companies to launch newer products.
US Automotive Heat Exchanger Market Leaders
Continental AG
Robert Bosch GmbH
Delphi Automotive PLC
Denso Corporation
Hitachi, Ltd.
*Disclaimer: Major Players sorted in no particular order
US Automotive Heat Exchanger Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Vehicle Type
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5.1.1 Passenger Car
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5.1.2 Commercial Vehicle
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5.2 Application
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5.2.1 Radiators
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5.2.2 Oil Coolers
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5.2.3 Intercoolers
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5.2.4 Air Conditioning
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5.2.5 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 Continental AG
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6.2.2 Robert Bosch GmbH
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6.2.3 Delphi Automotive PLC
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6.2.4 Denso Corporation
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6.2.5 Hitachi, Ltd.
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6.2.6 APC International, Ltd.
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6.2.7 Hella KGaA Hueck & Co
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6.2.8 CTS Corporation
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6.2.9 IAV Automotive Engineering
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6.2.10 Johnson Electric Holdings Ltd.
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6.2.11 Magneti Marelli S.P.A
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6.2.12 Mitsubishi Electric Corporation
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6.2.13 NOOK Industries, Inc.
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6.2.14 Valeo S.A.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Automotive Heat Exchanger Industry Segmentation
The United States Automotive Heat Exchanger Market covers the current and upcoming trends with recent technological development. The report will provide detailed analysis on various areas of the Market by application, design, vehicle, and powertrain type. The market share of significant manufacturers across the United States Market will be provided in the report.
| Vehicle Type | |
| Passenger Car | |
| Commercial Vehicle |
| Application | |
| Radiators | |
| Oil Coolers | |
| Intercoolers | |
| Air Conditioning | |
| Others |
US Automotive Heat Exchanger Market Research FAQs
What is the current United States Automotive Heat Exchanger Market size?
The United States Automotive Heat Exchanger Market is projected to register a CAGR of 8.60% during the forecast period (2024-2029)
Who are the key players in United States Automotive Heat Exchanger Market?
Continental AG, Robert Bosch GmbH, Delphi Automotive PLC, Denso Corporation and Hitachi, Ltd. are the major companies operating in the United States Automotive Heat Exchanger Market.
What years does this United States Automotive Heat Exchanger Market cover?
The report covers the United States Automotive Heat Exchanger Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Automotive Heat Exchanger Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Automotive Heat Exchanger Industry Report
Statistics for the 2024 United States Automotive Heat Exchanger market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Automotive Heat Exchanger analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
