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(Transportation-News.com, May 12, 2017 ) Automotive radiators are heat exchangers used for cooling the ICEs that generate heat. This should be dissipated to ensure proper functioning of the engine. To cool down the engine and dissipate the excess heat, a coolant is passed through the tubes of the radiator. The excess heat is taken out by blowing air into it through a fan. The hot coolant is fed into the inlet tank of the radiator generally located on the top of the radiator from which it is passed through the tubes of the radiator. As the coolant passes through the tubes of the radiator, it dissipates the excess heat.
Technavios analysts forecast the global automotive radiator market to grow at a CAGR of 4.29% during the period 2017-2021.
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The sale of radiators in the passenger cars showed a tremendous growth, especially in the SUVs and crossovers segment. The growth of automotive radiator market can be attributed to a decrease in interest rates on the car loans, which further motivates the consumers to purchase large and expensive vehicles. It has been observed that during 2015, the sale of SUVs and crossovers in the passenger cars segment in the US increased by over 10%. To bridge the gap between the demand and supply, several other equipment manufacturers (OEMs) in the market are planning on robust expansion to enhance their product portfolio. For instance, Toyota is planning to relocate its auto production unit to Mexico to meet the rising demand for SUVs in the US and Canada.
Along with the preference for passenger cars, the demand for lightweight and compact radiators is also fueling the growth of the automotive radiator market. For the agile and efficient dissipation of heat, the engine requires the need for regulators. OEMs are moving toward compact and lightweight radiators without comprising the cooling efficiency. To tackle the rising demand, manufacturers are focusing on reducing the size of the radiators while keeping the weight of the vehicle intact for better fuel economy. This shift toward lightweight and compact radiators is fueling the growth of the market.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Automotive Radiator Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
DENSO
Valeo
MAHLE
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Other prominent vendors
Calsonic Kansei
SANDEN USA
Nissens
Market driver
High dependence on ICEs for mobility in emerging countries.
For a full, detailed list, view our report
Market challenge
Emphasis on public transport to curb greenhouse gas emissions.
For a full, detailed list, view our report
Market trend
Increasing demand for lightweight and compact radiators.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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