Market Size of United States Automotive Heat Exchanger Industry
| 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.
