Light Vehicle Fans Market | 2020 Global Industry Growth, Trends, Share and Forecast 2027 | Key Player - Delphi Technologies, BorgWarner Inc., Denso Corporation, Modine Manufacturing Company, Brose, Valeo SA
The light vehicle fans form the main component of engine cooling systems while blowers are the heart of the vehicle heating, ventilation, and air conditioning (HVAC) systems. The global demand for fans and blowers in light vehicles is directly correlated to the production of vehicles. The light vehicle fans in a vehicle provide constant cooling and ventilation for various components such as engine & electronics. As the internal combustion engine (ICE) generates gases at a very high temperature, due to the burning of fuel inside the combustion chamber owing to which a cooling mechanism is required to allow the functioning of the engine at normal temperature. The light vehicle fans allow the air to pass through the interior of the vehicle. Similarly, electrical systems such as the infotainment & air conditioning system are installed with condenser fans to maintain the desired temperature.
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COVID-19 scenario analysis:
• The impact of the novel coronavirus (COVID-19) can be seen in every sector of the most affected countries as well as globally.
• The supply chain disruption is expected to affect the future growth of the companies due to lockdown.
• A huge monetary loss has been accounted for in the revenue generation of the automotive companies due to the lockdown
• For manufacturing industries, globally, the COVID-19 has resulted in a vast decline in revenue and profits.
• The COVID 19 hit many developing countries at a time e when the automotive industry is already facing significant disruption and displacement due to climate change, technological advances, demographic shifts, and trade turbulence and uncertainty.
• The supply chain has been broken for a very long while now due to lockdown and the demand is completely vanished out of the market which will take a long time to revive back again.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include dashboard control light vehicles are vital for safety and an increase in demand for premium segment vehicles. However, high cost of the electric fan as compare to mechanical fans would hamper the demand for electrical automotive engine fan marketis anticipated to hamper the growth of the market. Furthermore, introduction of lightweight, temperature resistant, and stable cooling fans is anticipated to create an opportunity for the market investments.
The light vehicle fans markettrends are as follows:
Dashboard control light vehicles are vital for safety
Dashboard lights help display important vehicle parameters and warning signs. Lights control is vital for safety, as these display information like speed, engine heating, the door handles, center console, dashboard, footwells, and reserve. The need for lighting in dashboard controls is expected to be a major driver for the growth of the inside lighting market. Manufacturers of luxury vehicles, like Lincoln MKR, are incorporating interior lighting, like sidelights and footlights, which operate automatically when the door is opened.
Increase in demand for premium segment vehicles
The sales of premium segment vehicles are increasing as the lifestyles and preferences of costumer are enhancing with the increase in disposable income across the globe. To maintain a better position in the market premium automobile segment manufacturers are offering such technologies and features for a healthy competition with their competitors.
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Key benefits of the report:
• This study presents the analytical depiction of the light vehicle fans market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the light vehicle fans market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the light vehicle fans market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed light vehicle fans market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the light vehicle fans market research report:
• What are the leading market players active in the light vehicle fans market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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