Global Automotive Radiator Market is valued at USD 8.33 Billion in 2021 and expected to reach USD 11.34 Billion by 2028 with a CAGR of 4.50% over the forecast period.
An automotive radiator is a device of an automotive cooling system that plays a major role in transferring the heat from the engine parts to the environment. A radiator is a type of heat exchanger which is designed to transfer thermal energy from the hot coolant coming from the engine to the air. The process of thermal heat transfer takes place from the hot coolant to the tubes and then from the tubes to the air. The radiator is made up of materials like aluminum, brass, and copper. Growing demand for automotive radiators in commercial vehicles, passenger vehicles, and racing cars is expected to drive the market in the forecast period.
The automotive radiator market is segmented based on type, material, vehicle type, and region. Based on type the market is divided into down-flow, cross-flow, and multiple-pass. Based on material the market is classified into aluminum, plastic & aluminum, copper, and brass. Based on vehicle type the market is classified into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Increasing urbanization and demand for vehicles from customers are propelling the growth of the automobile industry and are one of the major driving factors for the growth of the automotive radiator market. With the growing demand for more engine power and high fuel efficiency automobile solutions, the market has witnessed several strategic changes in the industry in the last decade. Automobile standards throughout the global and government emission norms are encouraging the use of environment-friendly radiators in automobiles. However, an increase in product complexity due to technological advances in radiators is hampering the growth automotive radiator market.
Asia Pacific region holds the largest market share in the automotive radiator market due to the growing automotive industry in countries like India & china and government emission norms. The region is witnessing rapid infrastructural development due to the expansion of automobile giants in developing countries. Also growing private and public investments have greatly influenced the growth of the global automotive radiator market. The presence of a large number of customers & increasing annual income of people and increasing production of automobiles are expected to further accelerate the demand for the automotive radiator market. Europe holds the second largest market of automotive radiator market followed by North America due to increasing demand and production of automobiles in this region.
Report Analysis | Details |
---|---|
Historical data | 2018 - 2021 |
Forecast Period | 2022 - 2028 |
Market Size in 2021: | USD 8.33 Billion |
Base year considered | 2021 |
Forecast Period CAGR %: | 4.50% |
Automotive Radiator Market Size Expected in 2028: | USD 11.34 Billion |
Tables, Charts & Figures: | 175 |
Pages | 300 |
Key Players/Companies | Behr Hella Service (now part of MAHLE GmbH), Calsonic Kansei Corporation, CSF Radiators, Delphi Technologies (now part of BorgWarner Inc.), Denso Corporation, Griffin Thermal , roducts, Koyorad Co., Ltd., Modine Manufacturing Company, OSC Automotive, Inc., Radiator Group, Sanden Holdings Corporation, Spectra Premium Industries, TYC Genera, Valeo S.A., Zhejiang Yinlun Machinery Co., Ltd. and Others |
Segments Covered | By Type, By Material, By Vehicle Type |
Regional Analysis | North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa |
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