Automotive Cooling Fans Market 2020 Growth Overview, Covid – 19 Outbreak Analysis, Top Companies – DENSO CORPORATION, Flexxaire, Horton Holding
Automotive cooling fans in a vehicle provide constant cooling and ventilation for various components such as engine & electronics. An 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 engine at normal temperature. Cooling fans allow the air to pass through the radiator for cooling the engine. Similarly, electrical systems such as the infotainment & air conditioning system are installed with condenser fans to maintain desired temperature. Therefore, the demand for automotive cooling fans is projected to boost the growth of the automotive cooling fan market in the future.
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COVID-19 scenario analysis:
A negative impact on the automotive cooling fan market is observed in the demand and the supply network majorly due to Corona virus.
Automotive cooling fan is an important component used in the vehicle. Majorly due to Corona virus all the production and supply network of automotive cooling fan had been shut down.
Majority of issues such as closure of factories and unavailability of workforce are faced by the automotive cooling fan manufacturers.
As the lockdown has been declared all over the world over the past few months, the demand and supply cycle of many automotive cooling fan manufacturers is vulnerable.
The economic situation is largely deteriorated due to the pandemic, series of measures are being taken by the global automotive cooling fan market by shutting down the manufacturing plants and giving the workforce their wages on advanced basis.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact Analysis
Increase in adoption of electronic system in the vehicles, rise in demand for hybrid electric vehicles, and introduction of advanced technologies such as new vibration free blades are driving the growth of the market. However, higher power consumption of the system is expected to hamper the growth of the market. On the contrary, introduction of lightweight, temperature resistant, and stable cooling fans is anticipated to create an opportunity for the market investments.
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The global automotive cooling fan market trends are as follows:
Rise in demand for hybrid electric vehicles
Electric vehicles have witnessed a rapid rise in demand in the recent past due to high pollution levels. Hybrid electric vehicles require additional cooling fans than an internal combustion engine vehicle. Combination of batteries & a turbo engine require a greater number of electrical automated cooling fans in the vehicle. The cooling fans for hybrid vehicle requires a greater amount of power since the heat is not only generated by the engine but also from the battery pack & motor. Furthermore, single chip temperature sensors and optimized management of the fan’s speed is necessary for efficient cooling. Therefore, growth in demand for hybrid electric vehicles is expected to boost the growth of the automotive cooling fans market.
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