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Global Automotive Radiator Market: Dynamics Influencing Growth
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Global Automotive Radiator Market: Dynamics Influencing Growth
The growth of the global automotive radiator market is influenced by various aspects across regions in the globe. Factors such as increasing adoption of hybrid powertrains, growing technological developments, growing agricultural sector proliferating the demand for heavy commercial vehicles, increasing investments in research and development, stringent emission norms, growing modifications in design for enhancement purposes, high replacement rate of old radiators, increasing demand for weight reduction of engine components propelling the demand for aluminum radiators, growing industries coupled with increasing urbanization, application of advanced nanofluids for enhancement of heat transfer and rising infrastructure spend and low interest rate are driving the growth of the global automotive radiator market. However factors such as counterfeiting in the aftermarket is challenging the growth of the global market for automotive radiators.
Global Automotive Radiator Market: Forecast Analysis
The global automotive radiator market is anticipated to grow at robust rate to register a CAGR of 5.4% during the period of forecast. The valuation of the global market is estimated to reach a figure higher than US$ 10 Bn by the end of the year of assessment from a value of around US$ 6,600 Mn in 2017.
Global Automotive Radiator Market: Segmentation Snapshot
The global automotive radiator market is segmented on the basis of product type, by sales channel, by vehicle type, by material type and by region.By product type, down-flow segment is expected to lead the global market with a high market valuation and growth rate. This segment is projected to grow at a high value CAGR of 5.9% throughout the period of forecast .By material type, the aluminum/plastics segment is the largest owing to high adoption rate. This segment is projected to grow at high value CAGR of 5.7% during the forecast period to reach an estimation of more than US$ 8900 Mn by the end of the year of assessment .
By vehicle type, the passenger cars segment is expected to show high lucrativeness and high growth potential. This is attributed to the growing developments in technology of passenger cars. The LCV segment is the second largest segment from a market share perspective .By sales channel, the aftermarket segment is poised to grow at a relatively high value CAGR throughout the period of forecast. The OEM segment is anticipated to dominate the global market with a high market value throughout the forecast period .By region, Asia Pacific (APAC) region is expected to be the largest with high market attractiveness. The automotive radiator market in the Asia Pacific region is estimated to reach a high valuation of more than US$ 4.5 Bn by the end of the year of assessment thus leading the global market
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Global Automotive Radiator Market: Competitive Analysis
The research report on global automotive radiator market includes profiles of key companies such as Valeo SA, Calsonic Kansei Corporation, Denso Corporation, Mahle GmbH, Zhejiang Yinlun Machinery Co., Ltd., Sanden Holdings Corporation, T.RAD Co., Ltd., TYC Brother Industrial Co. Ltd., Nissen A/S, Modine Manufacturing Company, Banco Products (I) Ltd., Keihin Corporation, PWR Advanced Cooling Technology, Nissim India Private Limited, Kor tech Auto Industries Pvt. Ltd., Spectra Premium, Griffin Thermal Products, Saldana Racing Products and MEZZO TECHNOLOGIES, INC.
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