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The automotive radiator fan market size is estimated to grow at a CAGR of 6.69% between 2022 and 2027. The market size is forecast to increase by USD 221.83 million. The growth of the market depends on several factors, including the increasing demand for fuel-efficient vehicles, the production shift of automotive radiator fans to low-cost countries, and the growth in high-performance vehicles.
This automotive radiator fan market report extensively covers market segmentation by type (ring type and box type), application (passenger cars, light commercial vehicles (LCVs), and medium and heavy Commercial vehicles (M and HCVs), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The production shift of automotive radiator fans to low-cost countries is notably driving the market growth, although factors such as the necessity to reduce vehicle weight by reducing the weight of radiator fans make the market grow. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The production shift of automotive radiator fans to low-cost countries is notably driving the market growth. As Vehicle manufacturers are using different technologies to improve the efficiency of their vehicles, in particular air conditioning systems, so that they can comply with stricter emission regulations and satisfy consumer demand for improved fuel economy. Manufacturers can increase the engine's overall effectiveness through efficiency improvements in air conditioning systems. This will increase fuel economy and reduce emissions by enabling the engine to work at its optimum temperature range.
To improve fuel efficiency, automotive radiator fan manufacturers have been developing advanced fan designs. The design addresses fan drag reduction, optimizing airflow, and minimizing energy consumption. Hence, to achieve more efficient use of fuel, the development of ingenious features including variable speed fans, weightless materials, and increased blade designs are helpful.
The increased popularity of brazed copper radiator fans is the primary trend in the automotive radiator fan market. The aluminium components in radiators are being replaced by copper and brass due to their low cost, streamlined process, and reduction in scarp in M & HCVs. The stakeholders of automotive radiator fans benefit, as the use of non-optimized copper-brass radiators has corresponded to lowering the material cost. The lower level of material used compared to aluminium radiator fans can be considered a factor in reducing the cooling fan weight.
The copper-brass radiator fans are replaced by light brazing alloy. It costs less to make a Brushed Copper radiator fan than it does aluminium fans due to the smaller production steps. In view of the fact that brazing copper brass models do not require any flux, stakeholders will be able to reduce the cost of production. In addition, brazed copper-brass radiator fans have a long-life cycle and high quality, as the prototype has lasted for over 6,000 hours without any signs of failure when tested under laboratory conditions.
The necessity to reduce vehicle weight by reducing the weight of radiator fans is a major challenge to the growth of the automotive radiator fan market. In order to increase the efficiency of vehicles, various car manufacturers are constantly developing new designs, technologies, and ethnic characteristics of vehicles. As car manufacturers respond to the growing demand for new features on their vehicles, they have a challenge in balancing the addition of additional features with reducing overall vehicle weight.
Lowering the volume of radiator fans has become a major challenge for original equipment manufacturers and suppliers because they cannot compromise the material which is made into them, in order to reduce engine size and vehicle weight.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Radiator Fan Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Air International Thermal Systems - The company offers automotive radiator fans such as powertrain cooling modules.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the ring type segment will be significant during the forecast period. The ring type segment of the global car radiator fans market consists of a special type of fan design, which contains an outer or inner circle shape. These fans are typically installed in the engine compartment of vehicles to help dissipate heat generated by the engine and maintain optimal operating temperatures.
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The ring-type segments show a gradual increase in the market share of USD 307.94 million in 2017 and continue to grow by 2021. In order to meet the diverse needs of vehicle manufacturers, a number of ring-type air fans with various specifications and features are being offered by leading market players in the automotive radiator fan industry like Denso and BorgWarner. These fans are often made using lightweight materials such as plastics or composite materials to reduce weight and enhance fuel efficiency.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Increasing income levels and the expanding middle class in emerging economies have resulted in huge demand for automobiles in emerging economies of APAC, such as India and Indonesia. With factors such as favourable government incentives, the availability of low labour costs, and raw materials advantage, this area is also an ideal offshore location for automotive production. China has contributed significantly to the market in APAC, accounting for a significant share of the automotive radiator fan market. A primary factor for the growth of the market in focus in the region is the increasing adoption of passenger cars and commercial vehicles in China.
In 2020, an increase in the number of COVID-19 cases adversely impacted the growth of the automotive radiator fan market in APAC. However, in 2021, vaccination campaigns carried out by governments led to the lifting of lockdowns and resulted in resumed production at regional automotive plants.
The automotive radiator fan market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the automotive radiator fan market as a part of the global automotive components and accessories market within the global auto components market. The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Automotive Radiator Fan Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.69% |
Market growth 2023-2027 |
USD 221.83 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.23 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air International Thermal Systems, AMETEK Inc., Bergstrom Inc., BorgWarner Inc., DENSO Corp., Flexxaire Inc., HELLA GmbH and Co. KGaA, Horton Holding Inc., Johnson Electric Holdings Ltd., MAHLE GmbH, Marelli Holdings Co. Ltd., Multi Wing America Inc., Nidec Corp., NRF BV, Robert Bosch GmbH, SPAL Automotive Srl, Sunonwealth Electric Machine Industry Co. Ltd., Toshiba Corp., Valeo SA, and Delta Electronics Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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