China Automotive Heat Exchanger Market Size (2024 - 2029)

China Automotive Heat Exchanger Market Analysis

The China Automotive Heat Exchanger Market size is estimated at USD 9.13 billion in 2024, and is expected to reach USD 11.46 billion by 2029, growing at a CAGR of 3.85% during the forecast period (2024-2029).

An automotive heat exchanger is used to transfer heat between two mediums at different temperatures that are in thermal contact with each other. For example, in an internal combustion engine, the coolant flows in a circular motion through the radiator coils, and air flows past these coils to cool the engine. Moreover, the increased adoption of comfort and convenience features such as HVAC systems in the vehicle is one of the major driving factors in the market.

China continues to be the world's largest automobile vehicle market by both annual sales and manufacturing output, with domestic production expected to reach 35 million vehicles by 2025. Based on data from the China Association of Automobile Manufacturers, over 26.9 million vehicles were sold in 2022, an increase of 3.46% from 2021. These increasing domestic sales of motor vehicles are anticipated to boost the Chinese automotive heat exchanger market in the forecast period.

• As these motor vehicle sales are increasing in the country, the heat exchanger market is experiencing rapid growth. The country increased its market share significantly since the early 2000s and today holds the highest market share of more than 30% in automotive heat exchangers in the world and 50% in Asia respectively.

The country is also home to more than 500 heat exchanger manufacturers. The increasing demand for a reduction in the weight of automobiles made original equipment manufacturers replace heavier materials such as iron and steel with lighter materials like plastics and aluminum. This trend is also followed in the automotive heat exchanger market.

Moreover, previous designs and structures of the heat exchanger caused corrosion, decomposition, and settlement of sludge and dust particles. It leads to fouling, which results in reduced heat transfer and restricted throughput, and this leads to higher fuel consumption. Increasing innovation and developments in material science technologies and rising sales of passenger cars and light commercial vehicles in the country are expected to grow the market over the forecast period.

China Automotive Heat Exchanger Industry Segmentation

An automotive heat exchanger is a device designed to exchange or transfer heat between two different mediums at variable temperatures. It consists of a minimum of two mediums that are close to each other. It is further divided by a barrier that can be made up of metal with suitable heat transfer properties. The heat exchanger primarily consists of fluids that are hot and cold.

The China Automotive Heat Exchanger Market is segmented by application type, design type, vehicle type, and power train type. By application, the market is segmented into radiators, oil coolers, intercoolers, air conditioning, exhaust gas, and other applications. By design type, the market is segmented into tube-fin, plate-bar, and other design types. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By powertrain type, the market is segmented into IC engine vehicles and electric vehicles.

The report offers market size and forecast in terms of value (USD) for all the above segments.