Global Automotive Radiator Market 2017-2021
About Automotive Radiator
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.
Technavio’s analysts forecast the global automotive radiator market to grow at a CAGR of 4.29% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive radiator market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Radiator Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive radiator market: DENSO, Valeo, and MAHLE.
Other Prominent Vendors in the market are: Calsonic Kansei, SANDEN USA, and Nissens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing demand for lightweight and compact radiators. A radiator is a heat exchanger that removes the excess heat from the engine to prevent the easy wear and tear. An automotive cooling system consists of a radiator, water pump, electric cooling fan, radiator pressure cap, and thermostat. Out of these components, the radiator is the most prominent part of the cooling system.”
According to the report, one driver in market is increasing sales of passenger cars. The sales of passenger cars are highly correlated with the growth in the automotive radiator market (as all the passenger cars are equipped with radiators). Radiators in the passenger cars segment accounted for 83.82% of the global automotive radiator market in 2016. In 2016, the majority of the sales growth was contributed by SUVs and crossovers segment. In 2015, the sales of SUVs and crossovers increased by 10% in the passenger cars market in the US. Even though SUVs and crossovers look similar, they are distinct in fuel efficiency and usability. Compared with SUVs, crossovers are more fuel efficient as these are built from car frames and are considerably lightweight. The decreasing interest rates for car loans in the US motivates consumers to buy larger and expensive vehicles.
Further, the report states that one challenges in market is rise in demand for EVs. The sales of EVs started gaining momentum from 2014. In 2016, various factors affected the sales of EVs. The government played a crucial role in promoting the sales of these vehicles to reduce carbon dioxide emissions. The global EVs market is flourishing due to various benefits and perks provided by the government, increased awareness to reduce greenhouse gas emissions, stringent carbon emission norms (such as reducing the average carbon dioxide emissions by the fleet of OEMS), increasing participation from the foreign and regional players, and the growing preference for EVs. In 2016, the sales of EVs accounted for 365.24 thousand units, which will reach 2243.85 thousand units by 2021, growing at a CAGR of 43.77% during the forecast period.
DENSO, Valeo, MAHLE, Calsonic Kansei, SANDEN USA, and Nissens.
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