The cooling system of the vehicle plays an important role in maintaining the temperature of vehicle. It consists of three basic components: radiator, heater core, and fan. The heater core is placed in the cabin of the vehicle under the dashboard, and it is connected to the engine’s heater hoses. The coolant flows through the heater core coils and the blower fan blows air through them. The water pump in the vehicle forces the coolant to pass over the fins of the heater core, wherein the fins transfer the heat, which later enters into the vehicle’s cabin.
The cooling system in the vehicle become significantly important as it plays an important role in regulating the temperature of the engine. Rise in demand for fuel-efficient vehicles and stringent emission norms set by regulatory bodies are likely to propel the automotive heater core market during the forecast period. Similarly, increase in vehicle production across the globe, owing to increase in purchase power and rapid urbanization, is estimated to boost the automotive heater core market during the forecast period. Increase in adoption of electric vehicles due to government initiatives and stringent norms regarding the environment are likely to drive the heater core market during the forecast period.
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The global automotive heater core market can be segmented based on material, vehicle type, sales channel, and region. In terms of material, the automotive heater core market can be classified into aluminum, copper, and others. The aluminum segment is likely to hold a major share of the automotive heater core market. Demand for lightweight components and emerging trends in the cooling system are likely to propel the demand for aluminum heater core during the forecast period. The aluminum heater core is highly insensitive to the usage of improper coolant and hence, it corrodes rapidly.
Based on vehicle type, the automotive heater core market can be divided into passenger vehicle, commercial vehicle, and electric vehicle. The passenger vehicle segment likely to expand at a significant rate during the forecast period owing the rise in production of passenger vehicles across the globe, owing to rapid urbanization, increase in per capita, and strong demand from consumers. Increase in sales of electric vehicle due to green transportation initiatives by governments of countries across the globe, active participation of OEMs in electric vehicle manufacturing, and availability of infrastructure in developed countries are likely to propel the demand for electric vehicles. This, in turn, is anticipated to drive the automotive heater core market during the forecast period.
In terms of sales channel, the automotive heater core market can be categorized into aftermarket and OEM. The approximate lifespan of the heater core is about six years. Lack of adequate cooling system service, inadequate coolant properties, and erosion of the metal leads to reduced life and replacement of heater core, which in turn is expensive. Players operating in the aftermarket took significant effort on heater core design and materials with competitive cost and hence, the aftermarket segment is anticipated to hold a major share of the automotive heater core market during the forecast period.
In terms of region, the automotive heater core market can be classified into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated hold a major share of the global automotive heater core market due to large production of passenger and commercial vehicles in the region.
Key players operating in the automotive heater core market include Delphi Auto Parts, MAHLE GmbH, Spectra Premium, DENSO CORPORATION, and Valeo.
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