The automotive radiator aftermarket size has the potential to grow by USD 439.96 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by vehicle type (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including CK Holdings Co. Ltd., DENSO Corp., General Motors Co., MAHLE GmbH, Modine Manufacturing Co., Nissens Group, Sanden Holdings Corp., Spectra Premium Industries Inc., TYC Brother Industrial Co. Ltd., and Valeo SA.
Market Overview
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Market Competitive Analysis
The market is fragmented with companies following the increasing trend of compact and lightweight radiators to offer an extensive product portfolio across the globe. CK Holdings Co. Ltd., DENSO Corp., and General Motors Co. are some of the major market participants. Although the increasing motorization rates globally will offer immense growth opportunities, the increasing demand for EVs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automotive radiator aftermarket forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this automotive radiator aftermarket analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- CK Holdings Co. Ltd.
- DENSO Corp.
- General Motors Co.
- MAHLE GmbH
- Modine Manufacturing Co.
- Nissens Group
- Sanden Holdings Corp.
- Spectra Premium Industries Inc.
- TYC Brother Industrial Co. Ltd.
- Valeo SA
Automotive Radiator Aftermarket: Segmentation by Geography
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APAC was the largest automotive radiator aftermarket in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing investments in infrastructural development and the growing requirement for additional commercial vehicles by construction companies for transportation facilities in economies will significantly drive automotive radiator aftermarket growth in this region over the forecast period.
64% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive radiator aftermarket in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Automotive Radiator Aftermarket: Segmentation by Vehicle Type
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The passenger cars segment accounts for the largest share in the market. This can be attributed to the higher penetration of passenger cars when compared with commercial vehicles. The penetration of passenger cars is increasing in developing countries owing to the growing disposable income of individuals.
Market growth in the passenger cars segment will be slower than the growth of the market in the commercial vehicles segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive radiator aftermarket size.
Automotive Radiator Aftermarket Market: Key Drivers and Trends
The automotive radiator aftermarket growth is driven by the increase in motorization rate and vehicle use across the globe. The growing demand for passenger cars from middle-class income groups and emerging markets and extensive use of commercial vehicles and HCV in e-commerce and construction industries will fuel the growth of aftermarket components, including automotive radiator aftermarket. One of the major automotive radiator market trends includes the adoption of compact and lightweight radiators in vehicles. Automotive OEMs are focusing on reducing the curb weight of vehicles by using lightweight components and reducing chassis weight to enhance fuel economy, which has led to the demand for lightweight and compact radiators. Fueled by these factors, the automotive radiation aftermarket size is expected to grow at a CAGR of almost 3% during the forecast period.
Automotive Radiator Aftermarket Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive automotive radiator aftermarket growth during the next five years
- Precise estimation of the automotive radiator aftermarket size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive radiator aftermarket industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive radiator aftermarket vendors
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