Techno World Automotive-Heat-Exchanger-Market | Page 2

Therefore, increasing the demand for turbochargers in the automated vehicles would positively
impact for propelling the growth of automotive heat exchanger market.
Electric vehicles segment to hold the largest share in the market
The electric vehicles segment held the largest share in 2016 and is projected to retain its
dominance throughout the forecast period. The various heat exchangers such as liquid cooled
plate, plate-to-plate are used in the electric vehicles for cooling and improving the battery life.
Increasing number of electric vehicles will directly impact the automotive heat exchanger
market. For instance, according to the International Energy Agency (IEA) analysis, in 2016, the
sales of electric cars was pegged at 750 thousand, globally. This positions the segment as the
dominant segment in the market.
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Automotive Heat Exchanger Market: Regional Analysis
Asia Pacific is expected to have the largest market share in the automotive heat exchanger
market. This is attributed to the increasing demand for the turbochargers and increase in number
of electric vehicles especially in the China. For instance, according to Coherent Market Insights
analysis, China, the world’s fastest-growing automotive market, is expected to increase turbo
penetration from 23% in 2014 to 41% in 2019. This would double the number of turbocharged
vehicles sold each year to over 13.01 million. In addition to this, according to the International
Energy Agency, in 2016, China held the largest share in the electric car market, accounting for
over 40% of the global electric cars sold in the country. This in turn increases demand for
automotive heat exchangers in the country.
Automotive Heat Exchanger Market: Competitive Background
The major players in the market include Denso, Valeo, Clizen, GEA Group, MAHLE, G&M Radiator,
Gunter GmbH & Co. KG, Alfa Laval AB, American Industrial Heat Transfer Inc., AKG Thermal
Systems, Inc., G&M Radiator, Constellium N.V., SGL Carbon Technic LLC, Visteon, and Wuxi
Guanyun
Heat
Exchanger.
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