The global automotive radiator market is evaluated at US$7.774 billion for 2020. The primary goal of automotive radiators, a heat exchanger, used in automobiles to cool the engine, is to stop the engine from overheating.
The automotive industry is witnessing an increase in the production of passenger and commercial vehicles, causing the demand for radiators to rise, thereby contributing to market growth. Moreover, the stringent norms and regulations regarding engine emissions encourage manufacturers to produce good-quality radiators, contributing to the market's growth. Nanofluid has recently been discovered to be useful for cooling motors. Research is being done to increase the effectiveness of the radiators used in automobiles. For this, Titanium Dioxide water nanofluid was used as a cooling fluid at a concentration of 2%, and it was found that the effectiveness increased by 10%. The market has good growth potential due to improving the cooling fluid and radiator-related materials.
Furthermore, the increasing investments and participation of market players in research and development to improve these radiators and make them lighter and more efficient are expected to bolster the market growth over the forecast period.
The automotive radiator market has been segmented based on material type, vehicle type, end-user, and geography. The market has been divided into two categories based on material types: aluminium, brass, and aluminium. The market is divided into three categories according to vehicle type: passenger cars, light commercial cars, and heavy commercial cars. The market has been segmented by end-user into OEMs and aftermarkets.
Aluminium to hold a significant market share
By material type, aluminium is expected to hold a significant share in the automotive radiator market, which is attributable to the mass production of aluminium radiators is cheaper for the makers than radiators made of copper and brass. Its reduced weight than radiators made of copper and brass is an additional benefit.
The passenger vehicle segment will continue to account for major demand
By vehicle type, passenger vehicles are expected to hold a significant share in the market owing to the rising production of passenger vehicles coupled with rising demand for these vehicles attributable to people's increased ability to buy thanks to an increase in their disposable income.
The radiator is a crucial part of the car since it makes removing heat from the engine simple, allowing it to cool down more quickly and without any problems. By end-user, OEMs are expected to hold a significant share in the market because the vehicles that the automakers produce are equipped with aluminium, copper, or brass radiators.
The fastest rate of regional market expansion would be seen in the Asia Pacific.
By geography, Asia Pacific is expected to hold a significant amount of market share, which is attributed to the increasing production of vehicles in countries of this region like India and China, as well as certain other countries in this region, which are seeing a surge in demand for passenger cars, which is made possible by people's growing disposable income. Maruti Suzuki India Limited reports that they sold around 133,296 automobiles in total, including domestic and international sales, up from 128,338 vehicles in 2018—a growth of 3.9%. In a joint venture called Spotlight Automotive Limited, the BMW Group, one of the biggest automakers in the world, and Great Wall Motor intend to invest about 650 million euros on November 29 in developing a new vehicle production facility in China with a capacity of 160,000 vehicles annually. The building phase is anticipated to last from 2020 to 2022.
In a joint venture called Spotlight Automotive Limited, the BMW Group, one of the biggest automakers in the world, and Great Wall Motor intend to invest about 650 million euros on November 29 in developing a new vehicle production facility in China with a capacity of 160,000 vehicles annually. The building phase is anticipated to last from 2020 to 2022.
This report features several important businesses, including MAHLE GmbH, DENSO CORPORATION, and Delphi Automotive.
During the pandemic, this had a detrimental effect on the global market for automobile radiators. The COVID-19 pandemic caught everyone off guard and has disrupted economies in the majority of nations. Due to trade restrictions and decreased manufacturing across industries, businesses will continue to suffer until the virus is contained. The disruption of international trade led to a shortage of the raw materials and parts needed to produce automobiles. The OEM and aftermarket divisions of the worldwide automotive radiator market are predicted to have negative growth in 2020 as a result of a decline in demand globally. After the epidemic, the market will progressively pick up the pace and resume its regular growth rate.
|Market Size Value in 2020||US$7.774 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Material Type, Vehicle Type, End-User, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Blaak Radiateuren VOF, MAHLE GmbH, Griffin Thermal Products, General Motors, DENSO CORPORATION, Dolphin Heat Exchanger, Delphi Auto Parts, MODINE MANUFACTURING COMPANY, Tianjin Yaxing Radiator Co., Ltd., Marelli Corporation|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global automotive radiators market?
A1. Automotive Radiators Market was valued at US$7.774 billion in the year 2020.
Q2. Who are the major players in the automotive radiators market?
A2. Some of the major players in the global automotive radiators market are Blaak Radiateuren VOF, MAHLE GmbH, Griffin Thermal Products, General Motors, and DENSO CORPORATION, among others.
Q3. Which region holds the largest market share in the automotive radiators market?
A3. The Asia Pacific is expected to hold a significant share in the automotive radiators market, which is attributed to the increasing production of vehicles in countries of this region like India and China.
Q4. How is the global automotive radiators market segmented?
A4. The global automotive radiators market has been segmented by material type, vehicle type, end-user, and geography.
Q5. What factors are anticipated to drive the automotive radiators market growth?
A5. The automotive industry is witnessing an increase in the production of passenger vehicles as well as commercial vehicles, which is causing the demand for radiators to rise, thereby contributing to the automotive radiators market growth.
Blaak Radiateuren VOF
Dolphin Heat Exchanger
Delphi Auto Parts
MODINE MANUFACTURING COMPANY
Tianjin Yaxing Radiator Co., Ltd.
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