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Global Electric Vehicle Heat Exchanger Market: Growth Of USD 38.65 Bn By 2030 | Report By IMR

Electric Vehicle Heat Exchanger

Electric Vehicle Heat Exchanger Market Overview:

The Global Electric Vehicle Heat Exchanger Market size is expected to grow from USD 28.9 billion in 2022 to USD 38.65 billion by 2030, at a CAGR of 3.7% during the forecast period (2023-2030).

Changes in vehicle dynamics, weight reduction, green telematics, and other measures are necessary to reduce vehicle emissions. To minimize the total weight of the vehicle chassis, automotive OEMs are now adopting high-strength steel (HSS) as well as aluminum. For NOx reduction, automotive heat exchangers such as EGR systems are extensively employed in vehicles. EGR systems assist in the recirculation of a regulated proportion of exhaust gas back into the vehicle engine. In the EV market, technological developments include the development of ultra-fast charging, battery swapping, V2V charging, new battery technologies, and the development of parts such as in-wheel motors and e-axles.

Top Key Players for Electric Vehicle Heat Exchanger Market:

AKG Thermal Systems Inc., American Industrial Heat Transfer Inc., Banco Products (India) Ltd, Climetal SL-Heat Exchanger, Constellium SE, DENSO Corporation, G&M Radiator Mfg Ltd, Hanon Systems, MAHLE GmbH, MODINE MANUFACTURING COMPANY, Nippon Light Metal Holdings Co. Ltd, Valeo SA and other key players and other major players.

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The report summarizes all the information collected and serves the customer’s requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Electric Vehicle Heat Exchanger Market:

Drivers:

Increasing Demand for BEVs

The increasing demand for Battery Electric Vehicles (BEVs) is a significant driver of the Electric Vehicle Heat Exchanger market. As BEVs gain popularity as a eco-friendly alternative to traditional internal combustion engine vehicles, the need for effective thermal management becomes crucial. Heat exchangers play a pivotal role in maintaining optimal operating temperatures for batteries, motors, and other components in electric vehicles.  The higher energy density and power demands of BEVs necessitate efficient heat dissipation to ensure safety, performance, and longevity.

Opportunities:

High Growth Opportunity For Passenger EVs

The rapid surge in demand for Passenger Electric Vehicles (EVs) presents a substantial growth opportunity for the Electric Vehicle Heat Exchanger market. As governments and consumers worldwide shift towards cleaner transportation options, the transition to electric passenger vehicles escalates. This evolution necessitates efficient thermal management systems to ensure optimal battery performance, range, and safety. Heat exchangers are pivotal components that enable effective heat dissipation and temperature regulation in EVs, directly impacting their overall performance and longevity.

Manufacturers and innovators in the Electric Vehicle Heat Exchanger market are poised to capitalize on this high-growth potential by developing advanced, energy-efficient solutions tailored to the unique demands of Passenger EVs. This symbiotic relationship between the expanding EV market and heat exchanger technology highlights a compelling avenue for industry advancement and success.

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Electric Vehicle Heat Exchanger

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Segmentation Analysis of the Electric Vehicle Heat Exchanger Market:

By Type, The Battery Electric Vehicle (BEV) type is emerging as a dominating segment in the Electric Vehicle Heat Exchanger Market. As the global automotive industry experiences a paradigm shift towards electrification, BEVs have gained substantial traction due to their zero-emission nature and increasing consumer demand for eco-friendly transportation.

By Vehicle Type, The Passenger Car vehicle type is establishing dominance as a segment in the Electric Vehicle Heat Exchanger Market. This trend is driven by the growing consumer interest in electric passenger cars, motivated by environmental concerns, government incentives, and technological advancements.

By Electric Vehicle Type

  • BEV
  • PHEV
  • HEV

By Design

  • Plate Bar
  • Tube Fin

By Vehicle Type

  • Passenger Car
  • LCV
  • Truck
  • Bus

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Regional Analysis of the Electric Vehicle Heat Exchanger Market:

The Asia Pacific region is expected to hold the largest market share owing to the back of growing investment in Electric Vehicle Heat Exchanger technology to enhance the productivity and efficiency of employees. The need for smart buildings is growing quickly in the Asia-Pacific region as domestic income rises, which is opening up opportunities for the Electric Vehicle Heat Exchanger market to expand quickly.

By Regional Outlook

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

May 2022, To improve commercial electric vehicle (EV) performance, range, battery life, and safety, Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, announced the general availability of its suite of EVantag Thermal Management Systems for commercial EV chassis.

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About us:

Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assisting our clients to grow and have a successful impact on the market. Our team at IMR is ready to assist our clients to flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, that specializes in using big data and advanced analytics to show the bigger picture of the market trends.

We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.

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