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Global Engine Cooling System Market Is Anticipated To Reach USD 219 Billion By 2027 Marking A CAGR Of 4.5% Between 2018 And 2027

11-08-2019 07:24 AM CET | Industry, Real Estate & Construction

Press release from: Kenneth Research

Global Engine Cooling System Market Outlook 2018-2027 by Leading Players Schaeffler Group, Valeo SA, Mahle GmbH, Denso Corporation

Global Engine Cooling System Market Outlook 2018-2027 by Leading Players Schaeffler Group, Valeo SA, Mahle GmbH, Denso Corporation

Worldwide engine cooling system market stood at USD 147 Billion in 2018 and is anticipated to reach USD 219 Billion by 2027 marking a CAGR of 4.5% between 2018 and 2027.

The global automotive production in 2018 was around 95.6 million units with around 74% share of passenger vehicles. This massive production of vehicles evinces a larger volume demand of engine cooling system across the globe.

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The rise in automotive manufacturing in developing countries exhibits growth of complementary industries such as engine cooling systems. Also, the growing global population of vehicles is driving the aftermarket sales of engine cooling components.

Major Key Players of Global Market:

Schaeffler Group, Valeo SA, Mahle GmbH, Denso Corporation, Delphi Technologies, BASF SE, Celanese Corporation, DowDupont Inc, Solvay S.A., Covestro A.G.

Asia Pacific is the largest and the fastest-growing market of engine cooling system due to the existence of leading automotive OEMs in developing countries such as China, Japan, India, South Korea and Vietnam
Automotive production is the major growth driver for these engine cooling components as OEMs hold the lion share of around 80%–85% of the market in 2018.

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The companies such as Delphi Technologies, Denso and Valeo are major providers of engine cooling system components across the globe. The companies are serving both the OEM and aftermarket segments with OEM holding the major share of their sales. These companies collaborate with various automotive OEMs such as Volkswagen, Daimler Group, Toyota, Tata JLR, Ford Motors, Honda, and Hyundai to provide customized engine cooling system components.

By cooling system type, the air-cooling system holds a very minor share of around 5% of the engine cooling system market in 2018, mainly due to its limited usage in the automotive industry. The air-cooling systems are currently found in scooters and motorcycles, airplanes, and few models of passenger vehicles especially the rear-engine cars.

In comparison to air-cooling system, the liquid-cooling system is relatively more efficient since it offers better heat transfer properties as compared to air. The liquid cooling system, unlike air cooling system, is independent of outside air temperature and atmosphere. Due to these reasons, they are widely accepted and preferred across the automotive industry.

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About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

Original Source:
https://www.marketwatch.com/press-release/global-engine-cooling-system-market-is-anticipated-to-reach-usd-219-billion-by-2027-marking-a-cagr-of-45-between-2018-and-2027-2019-11-07

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