India Automotive Heat Exchanger Market Size, Growth [2031]

Report Description

The India automotive heat exchanger market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 12.2% during the forecast period, 2023–2031. The growth of the market is attributed to the changes in the vehicle emission norms and growth in sales of passenger’s vehicles in the country. 

Automotive heat exchanger is a system used to exchange heat at a different temperature from one medium to another the medium involves at least two mediums that are separated by a barrier, which may be material, such as metal with an improved heat transfer properties and mediums flow close to each other.

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This device is used in the air conditioning usage, engine bay, chilled water systems, ventilation, condensers, industrial oil coolers, exhaust gas, evaporators in refrigeration systems, heating, transmission and engine coolers.

In automotive sector the function of the heat exchanger is to remove heat from the mechanical system and the system consists of fluids that are hot and cold. Depending on the flow pattern, the heat exchanger is divided into three flow patterns, namely counter flow, cross flow, and parallel flow.

Automotive heat exchangers are frequently made up from aluminum for their high thermal conductivity and lightweight nature. Typical automotive heat exchanger includes intercoolers, radiators, and oil coolers. The automotive heat exchanger has important role in maintaining the temperature of the vehicle components and it is also used in cooling applications, such as air conditioners.

Automotive heat exchanger offers various benefits, in terms of less requirement of energy, lesser pollution, more internal reliability, and they do not depend on on supplementary equipments, such as an air compressing or air conditioning to operate.

The COVID-19 pandemic outbreak had negatively impacted the India automotive heat exchanger market. During the pandemic, emergency lockdown imposed by government body had forced to temporary shutdown of manufacturing plant as part of policies to curb the virus spread. As a result, the supply chain of heat exchanger systems had been completely disrupted across the country.

Additionally, the pandemic had adversely impacted the overall automotive market, which considerably affected the heat exchanger market. The market is expected to recover soon with an uptrend operation due to subsiding COVID cases. 

India Automotive Heat Exchanger Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for automotive components in commercial applications and engineering industrial sector is one of the key factor driving the market.
• Surging HVAC usage especially in an automotive and commercial & residential building is projected to boost the market during the forecast period.
• Rising availability of highly efficient counterparts acts as a major challenge that can restrict the market growth in the coming years.
• Growing concern about leakage and pressure drops in the system is expected to hamper the market growth during the projected timeline.
• Escalating trend of engine downsizing in the country is anticipated to create significant growth opportunities for the market.

Scope of India Automotive Heat Exchanger Market Report

The report on the India automotive heat exchanger market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

India Automotive Heat Exchanger Market Segment Insights

Designs Segment Analysis

On the basis of designs, the India automotive heat exchanger market is divided into extrusion fin, tube fin, and plate-bar. The tube fin segment is projected to register a significant growth during the projected period owing to the increasing adoption of tube fin for reduced weight, improved performance, less power consumption, and enhanced durability.

However, the plate-bar segment is anticipated to expand at a substantial growth rate in the coming years attributed to the growing reliability, precise heat transformation, and low cost of the system.

Vehicle Types Segment Analysis

Based on vehicle types, the market is bifurcated into electric vehicle and conventional vehicles. The conventional vehicle segment is projected to expand at robust growth rate during the forecast period due to the high demand for premium vehicles and SUVs, rise in production of passenger cars, and high-performance expectation from personal vehicles.

On the other hand, the electric vehicle segment is anticipated to expand at a substantial CAGR during the forecast period owing to the high adoption of heat exchanger in electric vehicle for improving battery life of vehicle.

Applications Segment Analysis

In terms of applications, the India automotive heat exchanger market is segregated into air conditioning and condenser, oil coolers, exhaust gas heat exchanger, intercoolers, and radiators.

The air conditioning and condenser segment is estimated to grow at high CAGR during the forecast period owing to the increasing use of systems to remove heat from indoor spaces and transfer it outdoors. However, the intercoolers segment is anticipated to register significant growth during the projected period attributed to the rise in the efficiency of the induction system by intercoolers.

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