Knowledge Sourcing Intelligence announces the publication of a new report on “Global Automotive Radiator Market - Forecasts from2020 to 2025" to their offering.
Automotive Radiators are heat exchangers that are used in vehicles for the cooling of internal combustion engines. The market for radiators is poised to show a nominal growth on account of the significant increase in the production of vehicles due to growing demand in the developing economies.
According to the report, the Global Automotive Radiator Market is projected to increase at a nominal CAGR in the coming years.
Growing demand for vehicles
The market for automotive radiators is expected to propel at a nominal CAGR throughout the course of the next five years. The major factors that are propelling the market growth include the significant increase in the production of vehicles around the globe primarily due to the increasing demand for vehicles in the developing economies such as India, Brazil, Indonesia, and China among others. The growing disposable income and improvement in the standards of living of the people across these countries is a major factor driving the demand for vehicles. Also, the stringent regulations across several countries have further encouraged the automotive manufacturers to use good quality radiator which is further providing an impetus for the market to grow in the next five years. The constantly growing penetration of hybrid vehicles as the governments are taking several initiatives to promote the use of those vehicles that use greener technologies also play a key role in shaping up the automotive radiator market growth over the next five years. Furthermore, the constant participation and investments by the major market players in the development and launch of new and advanced radiators which are lighter and more efficient further show the potential for the market growth throughout the course of the next five years. However, the market is projected to be restrained by the fact that the deployment of battery electric vehicles has grown exponentially over the past five years, which in turn is anticipated to negatively affect the market growth during the next five years. Also, the recent outbreak of the novel coronavirus disease has led to decline in the demand for radiators by the end-users as the government measures to minimize the spread of the disease such as quarantine and social distancing has further led to a temporary suspension in the manufacturing activities across various countries. Thus, the demand for radiators by the OEMs is expected to decline during the short run, thereby restraining the market growth during the short period of the next six to eight months.
The global automotive radiators market has been segmented and analysied extensively on the basis of material type, vehicle type, end-user, and geography. On the basis of material type, the market has been segmented into copper and brass, and aluminum. Based on vehicle type, the automotive radiator market has been segmented as passenger vehicles, light commercial vehicle, and heavy commercial vehicle. By the end-user, the classification of the market has been done as OEMs and aftermarket. Geographically, the automotive radiator market has been segmened into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Geographically, the European region is expected to hold a substantial market share throughout the course of the next five years on account of the presence of a well-established manufacturing sector in several countries across the region.
The major players covered as part of the report are Blaak Radiateuren VOF, Griffin Thermal Products, DENSO CORPORATION, DENSO CORPORATION, and Dolphin Heat Exchanger 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 global Automotive Radiator market on the basis following terms:
By Vehicle Type