Automotive Heat Exchanger Market Report 2025

This Automotive Heat Exchanger market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The automotive heat exchanger market size has grown strongly in recent years. It will grow from $28.11 billion in 2024 to $30.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rise in automotive production, development of internal combustion engines, adoption of radiator technology, advances in heat exchanger materials, demand for improved vehicle performance.

The automotive heat exchanger market size is expected to see strong growth in the next few years. It will grow to $41.82 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to transition to electric and hybrid vehicles, increasing focus on energy efficiency, integration of advanced cooling systems, emphasis on sustainable manufacturing, growth in autonomous vehicle technology. Major trends in the forecast period include technological advancements in automotive industry, integration of smart sensors for real-time monitoring, emphasis on thermal management for electric vehicles, adoption of advanced manufacturing techniques.

The rising production of commercial and passenger vehicles is playing a significant role in the expansion of the automotive heat exchanger market. Passenger vehicles are designed to transport individuals, while commercial vehicles are used for carrying larger groups of people for business purposes. The high volume of automobile production necessitates a substantial number of automotive parts, including heat exchangers, to be incorporated into new vehicles, thus fostering the growth of the automotive heat exchanger market. For example, in August 2024, the European Automobile Manufacturers' Association, a Belgium-based organization, reported that seven months into 2024, new car registrations increased by 3.9%, surpassing 6.5 million units. The largest markets in the region showed positive yet modest growth, with Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%) all experiencing increases. Consequently, the growing production of commercial and passenger vehicles is anticipated to drive the growth of the automotive heat exchanger market in the future.

Anticipated expansion in the realm of electric vehicles (EVs) is poised to act as a catalyst for the automotive heat exchanger market's growth trajectory. Electric vehicles, propelled by one or more electric motors utilizing stored electricity as their primary power source, rely on automotive heat exchangers for maintaining battery temperatures within optimal ranges. Notably, the International Energy Agency revealed a remarkable surge in EV sales, reaching 10 million in 2022 and forecasting a rise to 14 million in 2023. This escalating demand for electric vehicles stands as a significant driver propelling the automotive heat exchanger market.

Within the automotive heat exchanger landscape, a pivotal trend emerges in the form of product innovations. Leading companies in this sector concentrate on pioneering heat exchanger designs to fortify their market stance. Notably, Conflux Technology, in collaboration with Dallara, an Australia-based additive manufactured heat exchanger specialist, unveiled innovative 3D printed heat exchanger models utilizing metal 3D printing technology. These designs, introduced in January 2022, offer heightened efficiency in thermal exchange, pressure management, and weight optimization, meeting stringent quality, performance, and cost benchmarks.

Major players within the automotive heat exchanger market are directing their efforts towards technological innovations, notably embracing advancements such as Braze Plate Heat Exchangers (BPHE) to gain a competitive advantage. BPHE technology stands as a pivotal heat exchange method widely applied across automotive domains like engine cooling, air conditioning, and heat recovery units. An illustrative example involves Sanhua Holding Group Co., Ltd., a prominent China-based manufacturer specializing in controls and components for automotive air conditioning and thermal management industries. In October 2023, the company unveiled its Braze Plate Heat Exchangers (BPHE) characterized by multiple corrugated plates interconnected with brazing material, configuring the fluid channels for efficient flow management.

In October 2024, Wieland Group, a manufacturer of semi-finished products based in Germany, acquired Onda S.p.A for an undisclosed sum. This acquisition aims to strengthen Wieland's air-conditioning and refrigeration business while broadening its footprint in the rapidly expanding heat exchanger and data center cooling markets. Onda S.p.A. is an Italy-based producer of automotive heat exchangers.

Major companies operating in the automotive heat exchanger market include Nippon Denso Co Ltd., MAHLE GmbH, Valeo SA, Hanon Systems Co Ltd., Dana Ltd., Autokühler-Gesellschaft Group, American Industrial Heat Transfer Inc., Alfa-Laval AB, Banco Products Ltd., Climetal SL, Clizen Inc., Constellium SE, GM Radiator Manufacturing Company Ltd., American Petroleum Institute Heat Transfer, Robert Bosch GmbH, Modine Manufacturing Company, Calsonic Kansei Corporation, Behr Hella Service GmbH, Visteon Corporation, Filterwerk Mann+Hummel GmbH, Tata AutoComp Systems Ltd., Sanden Holdings Corporation, Adrad Pty Ltd., Sondex AS, Cummins Inc., Automotive Cooling Ltd., Genera Corporation, T RAD Co. Ltd., Sunbelt Radiators Inc., Kelvion Holding GmbH.

An automotive heat exchanger is a specialized device crafted for the automotive industry, facilitating the transfer of heat between two mediums with disparate temperatures. This involves the circulation of fluids separated by efficient heat-conducting materials such as metals. The primary function of automotive heat exchangers is to extract heat from mechanical systems within vehicles.

Key design variations in automotive heat exchangers include tube fin, plate bar, and other configurations. The pivotal element in these systems is the fin tubes, with the efficiency of the heat exchanger contingent upon the heat transfer capabilities of these components. Various vehicle categories, such as passenger cars, light commercial vehicles, and heavy commercial vehicles, encompass a range of electric vehicles, including battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). Automotive heat exchangers find application in diverse areas, including radiators, oil coolers, intercoolers, air conditioning systems, exhaust gas heat exchangers, among others.

The automotive heat exchanger market research report is one of a series of new reports that provides automotive heat exchanger market statistics, including automotive heat exchanger industry global market size, regional shares, competitors with an automotive heat exchanger market share, detailed automotive heat exchanger market segments, market trends and opportunities, and any further data you may need to thrive in the automotive heat exchanger industry. This automotive heat exchanger market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the automotive heat exchanger market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive heat exchanger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive heat exchanger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automotive heat exchanger market consists of sales of double-pipe heat exchanger, shell-and-tube heat exchanger, plate heat exchanger and condensers and boilers heat exchangers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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