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Automotive Radiator Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

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Extensive insights into the Growth of Automotive Radiator Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Automotive Radiator Market Overview

Automotive radiator is cooling devices installed in order to keep the internal combustion engine at proper operating temperature. Automotive radiator is a heat exchanger and consists of series of tubes or channels mounted in parallel arrangement. The coolant circulates through these channels and observes the heat produced by the running engine. Further, a fan is used to observe the heat of coolant and brigs its temperature down. These automotive radiators are generally used in piston-engine aircrafts, motorcycles, cars, railway locomotive and other automobiles.   

Market Size & Forecast

Global automotive radiator market is predicted to grow at a remarkable compound annual growth rate (CAGR) of 4.5% over the forecast period. Global automotive radiator market is mainly expanding on the back of growing automotive market. The market of automotive radiator is projected to reach at a valuation of USD 14.2 Billion by the end of forecast period

Automotive radiator

Growing demand for automotive heat exchanger coupled with increasing number of automobiles is expected to fuel the growth of global automotive radiator market in during the forecast period.CLICK TO DOWNLOAD FREE SAMPLE

On the basis of regional platform, global automotive radiator market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific is accounted for the largest market of automotive radiator. Further, Asia Pacific is leading producer of automobiles and is also the major market for original equipment manufactured automotive radiator. Additionally, India and China are expected to contribute significantly to the growth of automotive radiator market in Asia Pacific region.

North America and Europe regions are also anticipated to grow at significant pace during the forecast period. Moreover, these regions are dominating the aftermarket of automotive radiators due to high demand for spare parts, accessories and other components of automobiles in these regions. Factors such as large number of vehicles and growing average age of automobiles in these regions are anticipated to fuel the growth of automotive radiator market in these regions.

However, Middle East & Africa automotive radiator market is anticipated to grow at remarkable compound annual growth rate of 6.5% during the forecast period. This growth in Middle East & Africa region can be attributed to rising number of automobiles in this region.

On the basis of material used, aluminum radiators are anticipated to dominate the segment. Growing use of aluminum radiators in modern cars is a major factor which is likely to fuel the demand for aluminum radiators during the forecast period.

Furthermore, by flow structure, automotive radiators are further segmented into down flow and cross flow radiators. The down flow radiator segmented is envisioned to be the leading segment during the forecast period. Down flow radiators are anticipated to capture more than 50% share of the global radiator market during the forecast period owing to growing replacement of radiators in old vehicles across the globe.

Market Segmentation

Our-in depth analysis of the global automotive radiator market includes the following segments:

 By Product

  • Cross-Flow Radiators
  • Down-Flow Radiators

By Material

  • Aluminum
  • Copper & Brass

By End User

  • Aftermarket
  • Original Equipment Manufacturing

By Vehicle Type

  • Heavy Commercial Vehicle
  • Light Commercial Vehicle
  • Passenger Cars
    • Sports Utility Vehicles
    • Multi Utility Vehicles
    • Luxury Vehicles

By Region

Global automotive radiator market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers & Challenges

Global automotive radiator market is driven by various factors including increasing number of vehicles, growing disposable income of the consumers and rising implementation for effective heat exchanger in vehicles across the globe.

Moreover, replacement of radiators in old vehicles is also escalating the demand for automotive radiators. Further, technological advancements with automobiles increasing average life of automobiles. This growing average life automobile on road is fueling the demand for spare parts, accessories and other components of vehicle in aftermarket. Further growing aftermarket of spare parts of vehicles is anticipated to drive the growth of global automotive radiators market.

Furthermore, rising implementation of aluminum radiators in modern vehicles is a major factor propelling the growth of global market. Rising disposable income of consumers and their increased affordability are some of the major factors propelling the demand for automobiles. Further, this increasing number of vehicles is leaving a positive impact on global market of automotive radiators. Apart from this, market of automotive radiators is also expanding in emerging economies due to changing life style of the consumers and their inclination towards luxuries life style.

Besides this, growing competition between leading automobile companies in order to produce better and high end & performance cars is also likely to foster the growth of global automotive radiator market in near future.

However, recent decline in global economic has reduced overall sales of automobile globally. This negative impact of global economic downturn on automotive market is expected to hamper the growth of global automotive radiator market in near future.

Key Players

  • Behr GmBh & Co.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Denso Corporation
  • Dongfeng Radiator Co. Ltd.
  • Visteon Corp.
  • Delphi Automotive Plc.
  • Valeo SA
  • Calsonic Kansei Corporation
  • Sanden Corporation
  • NISSENS A/S
  • CSF Radiators

 


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