Press release
Automotive Radiator Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Automotive Radiator Market
The automotive radiator market has shown steady growth, expected to increase from $8.15 billion in 2024 to $8.55 billion in 2025, with a CAGR of 4.9%. Growth drivers include rising automotive production, stringent emission standards, heightened consumer awareness, increasing demand for electric vehicles, and a focus on lightweight materials.
The automotive radiator market is projected to see steady growth, reaching $10.13 billion by 2029 at a compound annual growth rate (CAGR) of 4.3%. The growth is driven by urbanization, traffic congestion, the integration of smart cooling systems, rising vehicle production, the global shift towards sustainable mobility, and government incentives. Key trends include strategic partnerships, innovations in heat exchange materials, and ongoing technological advancements, influenced by global economic factors.
What Key Elements Are Boosting Growth in the Automotive Radiator Market?
Similarly, the growing demand for hybrid vehicles is propelling the automotive radiator market. Hybrid vehicles, which combine multiple power sources, rely on efficient radiators to maintain system performance, ensuring the hybrid systems run efficiently. The Society of Motor Manufacturers and Traders (SMMT) reported a 19.6% increase in hybrid vehicle registrations in 2024, further supporting the growth of the automotive radiator market.
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Who Are the Major Industry Players Fueling Automotive Radiator Market Expansion?
Major companies operating in the automotive radiator market report are BAIC Group, Denso Corporation, Valeo S.A., Dongfeng Motor Group, Aptive Environmental LLC, Visteon Corporation, Modine Manufacturing Company, Mahle Behr Manufacturing Management Inc., Calsonic Kansei Corporation, TYC Brother Industrial Co. Ltd., Shandong Houfeng Group, Delphi Automotive PLC, T. RAD Co. Ltd., Nissens A/S, Banco Products India Ltd., Sanden Holdings Corporation, PWR Performance Products, Keihin Co. Ltd., Sciton Inc., Ron Davis Racing Products Inc., Mishimoto Automotive, CSF Radiators, Zhejiang Yinlun Machinery Co., DeWitts Radiator, Nippon Light Metal Holdings Co. Ltd., Griffin Thermal Products
Which Key Developments Are Influencing the Automotive Radiator Market?
To gain a competitive advantage, key players in the automotive radiator market are developing innovative products like the Thermal Management Module (iTMM). The iTMM is an integrated module combining water-cooled heat exchangers and a clever valve setup to optimize various thermal circuits in vehicles. For instance, Marelli Corporation, a Japanese automotive parts manufacturer, introduced its Integrated Thermal Management Module (iTMM) in July 2023, designed for electric vehicles (EVs). The iTMM optimizes thermal circuits for the e-powertrain, battery, and cabin systems, improving overall efficiency, reducing complexity, and enhancing cooling, fast charging, and cabin comfort. It also boosts driving range by up to 20% under extreme weather conditions when paired with a heat pump.
How Is the Segmentation of the Automotive Radiator Market Defined?
The automotive radiator market covered in this report is segmented -
1) By Product Type: Down-Flow, Cross-Flow
2) By Material Type: Aluminum, Copper Or Brass, Composites
3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Two Wheelers
4) By End Users: Original Equipment Manufacturers (OEMs), After market
Subsegments:
1) By Down-Flow: Single Pass Down-Flow Radiator, Dual Pass Down-Flow Radiator
2) By Cross-Flow: Single Pass Cross-Flow Radiator, Multi Pass Cross-Flow Radiator
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What Is the Leading Region in the Automotive Radiator Market?
North America was the largest region in the automotive radiator market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive radiator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automotive Radiator Global Market Report?
- Market Size Analysis: Analyze the Automotive Radiator Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Radiator Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Radiator Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Radiator Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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