As the production of cars increases all over the world and the vehicle parc also increases, the market for car radiators will exhibit a steady growth. Also, due to the stringent emission norms, the global automotive industry is developing more fuel efficient and emission free vehicles. Due to this, the global automotive manufacturers are laying more emphasis on the development of hybrid and electric cars. This is also positively affecting the growth of the global car radiator market.
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Radiator is a mechanical structure which aids in heat transfer between two mediums, which are generally fluid and air. A car radiator is a component generally located at the front side of an engine and is responsible for heating and cooling of engine and other components. The car radiator consists of metal fins, followed by a network of metal pipes, fan(s), fluid or coolant, tanks and radiator caps.
The global car radiator market is slated to touch a value of about US$ 4,970 Mn in the year 2024 and grow at a robust CAGR during the assessment period.
4 Forecast Highlights on Global Car radiator Market
- As per the forecast of Fact.MR, the cross flow product type segment is slated to touch a value of more than US$ 2,450 Mn in the year 2024. This represents a robust CAGR growth during the assessment period of 2017-2022. The cross flow product type segment is estimated to account for more than half of the revenue share of the product type segment by the year 2017 and is forecasted to lose market share by 2024 over 2017.
- As per the forecast of Fact.MR, the copper/brass material type segment will reach a value of about US$ 590 Mn in the year 2017. This represents a sluggish CAGR growth during the forecast period. The copper/brass material type segment is forecasted to account for more than one-tenth of the total revenue share of the material type segment by the end of the year 2017 and is expected to lose in market share by 2024 as compared with the year 2017.
- As per the forecast of Fact.MR, the OEM segment is slated to reach a value of nearly US$ 4,055 Mn in 2024. The OEM segment is expected to lose market share by the end of the year 2024. The largest share is contributed by the APEJ region in the OEM segment.
- Fact.MR forecasts the compact car type segment to exhibit a compound annual growth rate (CAGR) of 6% from 2017 to 2024.
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The report has also included the profiles of some of the leading companies in the car radiator market like Modine Manufacturing Company, Valeo SA, Banco Products (India) Ltd., Zhejiang Yinlun Machinery Co., Ltd, Denso Corporation, T.RAD Co., Ltd, MAHLE GmbH, TYC Brother Industrial Co., Ltd., and Sanden Holdings Corporation.
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