Knowledge Sourcing Intelligence announces the publication of a new report on “Automotive Radiators Market -Forecasts from 2020 to 2025" to their offering.
Automotive radiators are considered to be a type of heat exchanger that is used in automobiles for the purpose of cooling the engine in order to prevent it from overheating and to prevent damage to the engine components.
According to the report, the Automotive Radiators Market is was estimated at a value of us$9.202 billion in 2019.
The rising demand for automobiles owing to the rise in disposable income
There has been a rapid rise in industrialization and urbanization, which has led to the transformation of different end-user industries created more job opportunities and resulted in an increase in the disposable income of the individuals. This increase has led to a rise in their propensity to spend and thus, the demand for automobiles has surged, consequently fuelling the demand for automotive radiators and augmenting the market growth over the forecast period.
Heat Exchangers made of aluminum material to account for a significant market share
By material, Heat Exchangers made of Aluminium is expected to hold a notable share in the automotive radiators market, which is attributable to the fact that the brass radiators are more expensive to produce and also add to the overall weight of the vehicle, making it heavier thus leading to increased vehicle emissions.
OEM’s to hold a considerable share over the forecast period
By Distribution channel, OEM’s are expected to hold a considerable share over the forecast period owing to the fact that all the automobiles that are produced are already fitted with top-quality radiators as they are an important part of the vehicle because they aid in dissipating the engine heat effectively and efficiently preventing damage to the components.
The Asia Pacific region holds a significant share in the market and grows at a noteworthy pace
The Asia Pacific region is estimated to hold a significant market share over the forecast period and grow at a noteworthy pace. This is attributable to the fact there are increasing initiatives being taken by the government of countries such as India in order to boost the production of cars and invest more in self-driven cars, which is causing a surge in the demand for automotive radiators. In addition, the well-established automotive sector of China and the increasing number of people purchasing vehicles owing to their rising disposable incomes.
The major players covered as part of the report are Blaak Radiateuren VOF, MAHLE GmbH, Griffin Thermal Products, General Motors, DENSO CORPORATION, Dolphin Heat Exchanger, Delphi Auto Parts, and MODINE MANUFACTURING COMPANY among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-automotive-radiators-market
This report has segmented the Automotive Radiators marketon the basis following terms.