The global automotive heat exchanger market is expected to reach USD 32.05 billion by 2025

The global automotive heat exchanger market is expected to reach USD 32.05 billion by 2025, with a CAGR of 6.61 percent from 2017 to 2025. Electric cars and off-highway vehicles are not included in the global market. During the projected period, the market for electric cars is expected to rise at a CAGR of 17.05 percent, from USD 1.38 billion in 2017 to USD 4.86 billion in 2025. By 2025, the market for off-highway vehicles is expected to grow to USD 3.35 billion, up from USD 1.90 billion in 2017.


Driver:  Increasing adoption of the HVAC system in high-end CV and OHV

With rising disposable income, purchasing power, and shifting buyer preferences, demand for comfort and convenience features in vehicles has expanded significantly. To stay competitive, OEMs are now delivering improved comfort and convenience features. Previously, the HVAC system was only available in premium and mid-segment passenger cars. It is now, however, a standard feature in all passenger cars. In order to limit the frequency of road accidents, the HVAC system is now available in commercial and off-highway vehicle categories. According to the third Global Status Report on Road Safety, more than 1.2 million people die in traffic accidents each year around the world.One of the main causes of these incidents is driver distraction, which is induced by unpleasant driving circumstances. Road traffic accidents are expected to become the sixth greatest cause of mortality by 2030, according to the Association for Safe International Road Travel (ASIRT). Several governments throughout the world have enacted regulations governing cabin HVAC systems. For example, the Indian government intends to require all commercial cars to have an air conditioning system. The market for HVAC systems in commercial and off-highway vehicles is being driven by these rules and growing awareness of driver safety.

Restraint:  Increasing demand for electric and hybrid vehicles will eliminate the need for conventional engine cooling component

Traditional heat exchangers such as radiators, oil coolers, intercoolers, and EGR coolers may be hampered by the growing demand for electric and hybrid vehicles. Electric vehicles, unlike internal combustion engines, do not use traditional automotive heat exchangers. Electric vehicles, on the other hand, use a battery thermal management system to keep the batteries cool. The automotive and transportation sector accounts for roughly 26% of total greenhouse gas emissions, according to the US Environmental Protection Agency (US EPA). As a result, OEMs have been driven to develop energy-efficient solutions in response to a growing focus on reducing vehicular emissions and increased demand for fuel-efficient automobiles.During the next decade, carbon dioxide (CO2) laws for vehicles are projected to tighten in major automotive hubs such as the United States, China, and Japan. While OEMs continue to incorporate innovative technology such as electrification, consumers are becoming more mindful of the environmental impact of car emissions. OEMs have been pushed to engage in e-mobility due to environmental concerns. As a result, electric and hybrid powertrains are predicted to replace traditional internal combustion engines by 2025.

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