August 13, 2019 by Johnson Paul
According to a new market research report published by Credence Research “Automotive Radiators Market (By Product Type (Cross Flow, Down Flow), By Material Type (Aluminum, Copper & Brass), By Channel Type (OEMs, Aftermarket), By Vehicle Type (Passenger Cars, LCV, HCV), Market – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall automotive radiators market worldwide was valued at US$ 9.23 Bn in 2018 and is set to grow with 4.53% CAGR during the forecast period.
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Automotive radiators, being an integral component of vehicles, is heavily dependent on automotive production worldwide. As per OICA, more than 95.0 Mn vehicles were produced in 2018, thereby forming huge consumer base for automotive radiators. Hybrid vehicles have witnessed a rapid rise in demand, which plays a crucial role in the radiators market. Hybrid vehicles require additional low-temperature radiators for battery cooling as compared to normal radiators. As the demand for normal as well as hybrid vehicles is rising, so is the demand for automotive radiators. Therefore, we are expecting a steady growth in the automotive radiators market throughout the forecast period.
Based on product type, automotive radiators market is led by cross flow radiators segment. In 2018, cross flow radiators had more than 50% of the total market revenue generated worldwide. A downflow radiator features a horizontal top tank and bottom tank whereas a cross flow radiator features a vertical tank on each side. As a result, in modern vehicles where there is not enough room to accommodate a tall down flow radiator, cross-flow radiators are used to accommodate body designs. Subsequently, we are expecting the crossflow radiators to lead the market throughout the forecast period.
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Based on geography, Asia Pacific will continue to lead the automotive radiators market with more than 40% of the market share. According to OICA, in 2017, more than 40.0 Mn vehicles have been sold in the Asia Pacific followed by North America and Europe with more than 25.0 Mn and 20.0 Mn respectively. On account of emerging middle class, rising disposable income and increase in the spending pattern in Asia Pacific, the automobiles sales has been witnessing consistent growth since the past few years. Due to increase in consumption of automobiles in emerging economies of Asia Pacific, we are expecting a steady growth in the automotive radiators market in the forecast period.
Some of the major companies profiled in the report include Mahle Behr GmbH & Co. KG, DENSO Corporation, Dongfeng Radiator Co. Ltd, Visteon Corporation, Aptiv PLC, Modine Manufacturing Company, Valeo S.A., Calsonic Kansei Corporation, Anhui Fengyang Radiator Co. Ltd, Tianjin Yaxing Radiator Co. Ltd., Shandong Houfeng Group and others.
By Product Type (2019–2027; US$ Bn)
By Material Type (2019–2027; US$ Bn)
By Channel (2019–2027; US$ Bn)
By Vehicle Class (2019–2027; US$ Bn)
By Geography Segment (2019–2027; US$ Bn)
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