Automotive Cooler Market Is Expected To Grow At A CAGR Of 6.15% By 2023

Market Research Future published a half cooked research report on automotive cooler market. Growing vehicle sales and production in developing countries have created an opportunity for coolant manufacturers.

Market Highlights:
Coolers are used in almost all major automobiles ranging from small engine motor bikes to heavy duty commercial vehicles. It is used to cool down engine parts and to maintain minimum temperature level of engine as well as it is used to avoid freezing when the vehicle is unused for long duration. It ensures workability and performance of engines and heat exchangers. The growth of the automotive engine coolant market is directly linked to the rising vehicle production. Thus, rising vehicle production is one of the key drivers for the increase in demand for engine coolant in the original equipment market. Geographically, Asia-Pacific is projected to be the most potential market for automotive coolers. Rise in demand for passenger vehicles in emerging economies such as China and India is expected to drive the cooler market.

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Key Players of Automotive Cooler Market:
• BP P.L.C. (U.K.)
• Chevron Corporation (U.S.)
• Cummins Filtration (U.S.)
• Shandong Yuean Chemical Industry Co. Ltd (China)
• Gallay Ltd (England)
• Hayden Automotive (U.S.)
• NENGUN CO. LTD (Japan)
• Calsonic Kansei Corporation (Japan)

Market Research Future Analysis:
Market Research Future analysis shows that the global automotive cooler market is estimated to grow at 6.15% CAGR in the forecast period. Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and focus on increasing the production capacity. Lower manufacturing costs are driving the market growth in the region. North America is expected to be a flourishing market in the forecast period. The factors driving the global automotive cooler market are high disposable income with improved lifestyle of the people, and the higher demand & production of large engine capacity vehicles.

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