NEW YORK, Feb. 13, 2017 /PRNewswire/ --
Asia Pacific holds the largest share in automotive heat exchanger market and is projected to dominate during the forecast period as well. Acceleration in the demands for automobiles and manufacturing of the automobile manufacturing sectors in the mentioned regions are driving the market growth. The automotive heat exchanger market is poised to grow at an approximate CAGR of 8% during the forecast years. The acceleration in the production of automobile and the growing demands are factors leading to the growth of the market. The development of automotive manufacturing industries in developing economies is the factor responsible for the increasing demands for the automotive heat exchanger.
The automotive heat exchanger market is segmented on the basis of Application, Design Type, Vehicle Type and Geography. The market by Application is sectioned into Radiator, Oil Coolers, Intercoolers, Air Conditioning, Exhaust Gas Heat Exchanger and Others. The market by Design Type is segmented into Tube-Fin, Plate-Bar, and Others. The market by Vehicle Type is sectioned into Electric Vehicles, Conventional (Ice) Vehicles, Others. The automotive heat exchanger market is segmented on the basis of Geography into India, China, Japan, Australia and Rest of Asia-Pacific.
The rapid growth of vehicle population, the demand for efficient turbocharged engines and strict regulations of the government to decrease the vehicle population and increase the engine efficiency are some of the major market drivers for the growth of automotive heat exchanger.
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