Automotive Heat Exchanger Market
Automotive Heat Exchanger Market was valued at 19.61 billion in 2016, exhibiting a CAGR of 6.63 % during 2016-2024.
The Automotive Heat Exchanger Market is a device intended to efficiently exchange the heat from one medium to another at dissimilar temperatures. Heat exchangers such as SIGMA plate and aluminium ones are used in the automotive industry to assist the vehicles by machine coolants and performing motor test stands, among others. Moreover, heat exchangers deliver high performance, extended productivity which positively influences the growth of the Automotive Heat Exchanger Market.
Automotive heat exchangers market for plate bar heat exchanger segment is projected to grow at the highest rate during the estimated period. Plate ber type is extensively used in off-highway vehicles and commercial vehicles which require a high degree of durability. Factors such as the growth of infrastructure and growing demand for commercial vehicles for cargo transport are driving the growth of the plate bar segment and for the overall Automotive Heat Exchanger Market.
Asia-Pacific (APAC) is projected to be the major regional market for automotive heat exchangers. APAC region was estimated to hold around 50% of the global automobile production. APAC region includes developing economies such as China and India along with technologically advanced nations such as Japan and South Korea. The growth of Automotive Heat Exchanger Market can be credited to the surge in production and demand for passenger cars and electric vehicles which in turn has boosted the overall market growth for Automotive Heat Exchanger Market.
The Automotive Heat Exchanger Market is a device intended to efficiently exchange the heat from one medium to another at dissimilar temperatures. Heat exchangers such as SIGMA plate and aluminium ones are used in the automotive industry to assist the vehicles by machine coolants and performing motor test stands, among others. Moreover, heat exchangers deliver high performance, extended productivity which positively influences the growth of the Automotive Heat Exchanger Market.
Automotive heat exchangers market for plate bar heat exchanger segment is projected to grow at the highest rate during the estimated period. Plate ber type is extensively used in off-highway vehicles and commercial vehicles which require a high degree of durability. Factors such as the growth of infrastructure and growing demand for commercial vehicles for cargo transport are driving the growth of the plate bar segment and for the overall Automotive Heat Exchanger Market.
Asia-Pacific (APAC) is projected to be the major regional market for automotive heat exchangers. APAC region was estimated to hold around 50% of the global automobile production. APAC region includes developing economies such as China and India along with technologically advanced nations such as Japan and South Korea. The growth of Automotive Heat Exchanger Market can be credited to the surge in production and demand for passenger cars and electric vehicles which in turn has boosted the overall market growth for Automotive Heat Exchanger Market.
Comments
Post a Comment