"Automotive Radiators Market to Exhibit Steady Growth in Near Future"
The automotive radiators market worldwide is expected to grow with a CAGR of 4.53% during the forecast period from 2019 to 2027, starting from US$ 9.23 Bn in 2018. A radiator is a component used for cooling the internal combustion engine across different categories such as automobiles, locomotives, aircrafts and motorcycles. The benefit of using a radiator is to protect the engine from overheating, which can damage the overall engine. As radiators safeguard the engines and increase their life, radiators form an integral component for automobiles. Due to the rise in production and consumption of automobiles, we are expecting a steady growth in the automotive radiators market.
Market Synopsis
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"Aluminum Radiators to Continue as the Market Leader"
In 2018, aluminum radiators segment led the market with over 50% share worldwide. Aluminum radiators have various benefits such as lightweight and more durability, which gives them an edge over copper & brass radiators. As aluminum is a recyclable metal, these radiators form an environment-friendly product. Another benefit of aluminum radiators is lightweight, which ultimately helps keeping the vehicles weight minimum. Thus, manufacturing companies prefer to use aluminum radiators. On account of these benefits, aluminum radiators is expected to continue leading the market in the forecast period.
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"Asia Pacific to Continue as the Market Leader in the Forecast Period"
In 2018, Asia Pacific led the market with more than 40% of the market share followed by North America and Europe. As automobiles sales is increasing in the region, so is the automotive radiators market. There is a significant rise in the automotive components segment in Asia Pacific, which is helpful for the automotive radiators market. Since, Asia Pacific is the largest producer and consumer of automobiles; the region forms the largest market for automotive radiators. On account of these factors, we are expecting a steady growth in the automotive radiators market during the forecast period.
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Some of the prominent players operating in the automotive radiators market include Mahle Behr GmbH & Co. KG, DENSO Corporation, Dongfeng Radiator Co. Ltd, Visteon Corporation, Aptiv PLC, Modine Manufacturing Company, Valeo S.A., Calsonic Kansei Corporation, Anhui Fengyang Radiator Co. Ltd, Tianjin Yaxing Radiator Co. Ltd., Shandong Houfeng Group and others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The automotive radiators market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global automotive radiators market based on product type, material type, channel, vehicle type and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Product Type (2019–2027; US$ Bn)
• Cross Flow
• Down Flow
|
|
Material Type (2019–2027; US$ Bn)
• Aluminum
• Copper & Brass
|
|
Channel (2019–2027; US$ Bn)
• OEMs
• Aftermarket
|
|
Vehicle Class (2019–2027; US$ Bn)
• Passenger Cars
• Light Commercial Vehicle
• Heavy Commercial Vehicle
|
|
Geography Segment (2019–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of automotive radiators in 2018 and forecast up to 2027?
- Which is the largest regional market for automotive radiators?
- What are the major trends followed in overall automotive radiators across different regions?
- What are the key market trends and high-growth opportunities observed in the automotive radiators market?
- What are the drivers of the automotive radiators market?
- Who are the key automotive radiators companies leading the market?
- What are the key strategies adopted by the leading automotive radiators companies in the market?
Unique data points of this report
- Statistics on automotive radiators worldwide
- Recent trends across different regions in terms of adoption of automotive radiators
- Notable developments going on in the automotive radiators industry
- Attractive investment proposition for automotive radiators segment as well as geography
- The comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
