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(Transportation-News.com, November 22, 2017 ) Global automotive radiator market is anticipated to flourish at 4.5% CAGR over the forecast period. Additionally, the global automotive radiator market is envisioned to reach at notable revenue of USD 14.2 Billion by the end of 2024. Increasing number of vehicles coupled with growing average life of cars is a major factor which is likely to escalate the demand for automotive components such as automotive radiators during the forecast period.
The aluminum segment by material is envisioned to grow at a considerable pace during the forecast period. Beneficial features of aluminum automotive radiators such as light weight, stronger metal, uniform heat transfer and others are projected to increase the installation rate of aluminum automotive radiators in near future. Apart from this, aluminum automotive radiators have better abilities to resist corrosion as compared to copper automotive radiator. The installation of aluminum automotive radiators in modern cars is expected to increase due to increasing need to reduce the risk of corrosion in automotive parts.
Increasing Average Age of Vehicles
Rising average age of vehicles such as passenger cars and truck is a major factor which is increasing the demand for automotive components across the globe. The average life of vehicles in U.S. has been raised by 17% in last ten years. The rising replacement of automotive components such as cooling system in old cars is a major factor which is estimated to drive the growth of automotive radiator market.
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Increasing Sales of Vehicles
Rising number of vehicles on road across the globe is increasing the demand for vehicle components. Furthermore, growing automotive aftermarket market is also predicted to foster the growth of automotive radiator market over the forecast period.
Source: International Organization of Motor Vehicle Manufacturers
Although, increasing penetration of electric vehicles, low spending on maintenance of vehicles in under developed countries are some of the factors that are envisioned to inhibit the growth of the automotive radiator market in the near future.
The report titled “Automotive Radiator Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global automotive radiator market in terms of market segmentation by product type, by end-user type, by material, by vehicle type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive radiator market which includes company profiling of Behr GmBh & Co., Denso Corporation, Dongfeng Radiator Co. Ltd., Visteon Corp., Delphi Automotive Plc., Valeo SA, Calsonic Kansei Corporation, Sanden Corporation, NISSENS A/S, and CSF Radiators. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive radiator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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