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Leading Growth Driver in the Automotive Radiator Market in 2025: Hybrid Vehicle Demand Fuels Growth in the Automotive Radiator Market Driver's Influence
Automotive Radiator Market Size
The burgeoning need for hybrid vehicles is anticipated to drive the expansion of the automotive radiator market. Hybrid automobiles, a unique blend of two or more power sources, can enhance overall fuel efficiency and decrease emissions. In this scenario, radiators play a vital part in preserving the effectiveness of hybrid systems, known for superior fuel conservation and lower emissions. As an example, a study released by the Society of Motor Manufacturers and Traders (SMMT), a trade group based in the UK, in April 2024 registered a 19.6% hike in hybrid electric vehicles (HEVs) to 44,550 units in 2024, up from 37,252 units. Therefore, the mounting demand for hybrid vehicles is fuelling the automotive radiator market's growth. Automotive Radiator Market Driver: Rising Need for Commercial Vehicles Triggers Growth of Automotive Radiator Market
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What is the future CAGR of the automotive radiator market, and how will it impact industry expansion?
In recent times, there has been a consistent increase in the size of the automotive radiator market. An expected growth from $8.15 billion in 2024 to a projected $8.55 billion in 2025 signifies a compound annual growth rate (CAGR) of 4.9%. This growth trend over the years can be traced back to factors such as the proliferation of automotive production, strict adherence to emission standards, increased consumer awareness, a growing preference for electric vehicles, and the emphasis on lightweight materials.
The market size of automotive radiators is projected to experience consistent expansion in the coming years, reaching $10.13 billion by 2029 with a CAGR of 4.3%. The expected growth during the forecast period can be credited to global urbanisation and traffic issues, the incorporation of intelligent cooling systems, escalation in vehicle production, a worldwide transition towards green movement, and support from government initiatives and inducements. Key trends during the projection period include strategic alliances and cooperations, novel progress in heat exchange substances, ongoing technological breakthroughs, and global economic influences.
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What are the emerging trends shaping the future of the automotive radiator market?
Leading firms in the automotive radiator market, such as Marelli Corporation, are creating inventive products like the Integrated Thermal Management Module (iTMM) to enhance their market position. iTMM is a unique assembly that fuses intelligently designed valves with water-cooled heat exchangers to seamlessly integrate the vehicle's various thermal circuits. For example, in July 2023, Japan's Marelli Corporation introduced its iTMM for electric vehicles (EVs). This product improves the EV's thermal circuits, thus enhancing overall functionality. The iTMM effectively manages the thermal systems of the e-powertrain, battery, and cabin, simplifying complexities and improving cooling capabilities, rapid battery charge, and cabin comfort. When combined with a heat pump, the iTMM can also increase the driving range by up to 20% under extreme weather conditions. The iTMM is space-saving, cost-efficient, and adheres to industry standards, providing a major breakthrough in EV thermal management. The iTMM presents transformative potential for the Marelli Corporation in the electric car industry.
Which key market segments comprise the automotive radiator market and drive its revenue growth?
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 regions are at the forefront of automotive radiator market expansion?
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.
Who are the leading players fueling growth in the automotive radiator market?
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
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What Is Covered In The Automotive Radiator Global Market Report?
• Market Size Forecast: Examine the automotive radiator market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive radiator market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive radiator market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive radiator market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive radiator market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive radiator market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive radiator market.
• Competitive Landscape: Review strategic developments in the automotive radiator market, including expansions, agreements, and new product launches.
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