A recent report published by Infinium Global Research on automotive radiator market provides in-depth analysis of segments and sub-segments in global as well as regional automotive radiator market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive radiator market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive radiator market. According to the report, the global automotive radiator market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.
The radiator is typically installed for cooling the engine or other components and batteries in the case of hybrid or electric vehicles. The radiator works by passing your coolant through thin metal fins, which allow the heat to flow to the air outside your car much more easily. The majority of radiators are constructed to function in automobiles, buildings, and electronics. They are mainly used in automobiles but also in piston-engine aircraft, railway locomotives, motorcycles, stationary generating plants, and other places where such engines are used. Each car manufacturer specifies exactly the mixture and type of coolant that is needed. The coolant’s job is to stop that water from rusting and corroding the internal parts of the cooling system.
An increasing trend for engine resizing for better fuel efficiency and performance is driving the growth of the automotive radar market. Rising production of vehicles and equity investments is fuelling the growth of the automotive radiator market globally. However, Increase in product complexity due to continuous change in the customer requirements and technological advances are supposed to negatively impact market growth. The demand for lightweight and compact radiators are increasing along with the preference for passenger cars are boosting the growth of the automotive radiator market. Normal heat exchangers in the hybrid vehicles require additional low-temperature heat exchangers for regulated battery cooling. Hence, the demand for these additional low-temperature heat exchangers is estimated to provide huge growth opportunities in developing the global automotive radiator market.
The Asia Pacific is expected to hold the largest share followed by Europe. Moreover, with expanding automobile demand in developing areas such as the Asia Pacific and Central & South America, the industry is likely to witness rapid growth over the upcoming years. Factors such as the sluggish economy and market saturation have projected Europe to witness moderate demand for automotive radiators. Automotive component markets in countries such as China, India, Indonesia, Brazil, and Mexico are expected to benefit significantly from the increasing demand for aftermarket and OEM products.
The report on global automotive radiator market covers segments such as radiator types, vehicle type, and distribution channel. On the basis of radiator types, the global automotive radiator market is categorized into copper-brass, plastic, and aluminum. On the basis of vehicle type the global automotive radiator market is categorized into the passenger car and commercial vehicles. On the basis of the distribution channel, the global automotive radiator market is categorized into OEM and aftersales.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive radiator market such as Denso Corporation, Mahle GmbH, Zhejiang Yinlun Machinery Co., Ltd., RAD Co., Ltd., Nissen A/S, Calsonic Kansei Corporation, Griffin Thermal Products, Keihin Corporation, and TYC Brother Industrial Co. Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive radiator market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive radiator market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive radiator market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive radiator market to understand the present and future trends in this market and formulate their strategies accordingly.