Global Automotive Radiator Market 2017-2021

Overview of the global automotive radiator market

Market research analysts at Technavio predict that the global automotive radiator market will grow steadily over the next four years and post a CAGR of more than 4% in million units by 2021. This market research analysis identifies the increasing sale of passenger cars as one of the key growth factors for the global automotive radiator market. The sale of radiators in the passenger cars showed a tremendous growth, especially in the SUVs and crossovers segment. The growth of automotive radiator market can be attributed to a decrease in interest rates on the car loans, which further motivates the consumers to purchase large and expensive vehicles. It has been observed that during 2015, the sale of SUVs and crossovers in the passenger cars segment in the US increased by over 10%. To bridge the gap between the demand and supply, several other equipment manufacturers (OEMs) in the market are planning on robust expansion to enhance their product portfolio. For instance, Toyota is planning to relocate its auto production unit to Mexico to meet the rising demand for SUVs in the US and Canada.

Along with the preference for passenger cars, the demand for lightweight and compact radiators is also fueling the growth of the automotive radiator market. For the agile and efficient dissipation of heat, the engine requires the need for regulators. OEMs are moving toward compact and lightweight auto radiators without comprising the cooling efficiency. To tackle the rising demand, manufacturers are focusing on reducing the size of the radiators while keeping the weight of the vehicle intact for better fuel economy. This shift toward lightweight and compact radiators is fueling the growth of the market.

Competitive landscape and key vendors

The automotive radiator market is moderately competitive with the presence of limited well-established players. To increase the consumer base, vendors are highly investing in research & development. Moreover, major players are also indulging in robust mergers and acquisitions with their counterparts. Various government regulations on reducing carbon footprints are likely to intensify the competition among the vendors. The key vendors in the market compete mainly on factors such as price, quality, innovation, features, and distribution.

The leading vendors in the market are –

• DENSO
• Valeo
• MAHLE

The other prominent vendors in the market are Calsonic Kansei, SANDEN USA, and Nissens.

Segmentation by application and analysis of the automotive radiator market

• Passenger cars
• LCVs
• M&HCVs

The passenger cars segment accounted for a major share of the car radiator market during 2016. The growing emphasis on energy efficiency coupled with the focus on reducing emissions from diesel engines will induce the passenger cars segment to adopt compact and lightweight radiators. OEMs are also focusing on the improved packaging of the cooling system to ensure maximum efficiency. Manufacturers such as DENSO are already offering resin-coated radiators to make them more environmental-friendly.

Market segmentation by geography and analysis of the automotive radiator market

• Americas
• APAC
• EMEA

APAC accounted for the major shares of the automotive radiator market during 2016. Factors such as a surge in the need for commercial vehicles in the transportation industry and launch of new vehicle models by OEMs will fueling the market’s growth in this region. The general perception that owning a car adds to the social status is also contributing to the growth of the market in the region. Additionally, the reduction in interest rates for passenger cars will also be major factor augmenting the growth of the car radiator market in APAC over the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive radiator market?
• What are the key market trends impacting the growth of the global automotive radiator market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive radiator market?
• What are the market opportunities and threats faced by the vendors in the global automotive radiator market?
• Trending factors influencing the market shares in the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global automotive radiator market? 

Technavio also offers customization on reports based on specific client requirement.

Radiators are heat exchangers used for cooling internal combustion engines, mainly in automobiles. The increase in the passenger car production is expected to drive the growth of the global automotive radiator market. This upcoming report by Technavio is a fundamental part of the automotive industry and offers an exclusive study of the fast-growing sectors like automotive manufacturing. Additionally, to help clients gain a competitive edge over other players, and to gain actionable intelligence on the various segments of the automotive industry, Technavio presents comprehensive information on several drivers and challenges, possible growth prospects, and all the market leading suppliers who hold substantial shares in the industry.

To accurately predict the growth of the automotive industry, our market research experts follow a combination of qualitative and quantitative techniques and also carry out an in-depth analysis of technological developments and the demand for different products and services globally. This upcoming research on the global automotive radiator market for the forecast period 2017-2021 helps our clients to gain insights about the automotive industry. This report also considers the growth of related markets such as automotive variable geometry turbocharger, which is expected to grow at a CAGR of more than 21% by 2021. Technavio also provides customized reports to help clients augment their position in the automotive sector.

The upcoming industry research report for global automotive radiator market highlights the key drivers, emerging trends, and the trials currently experienced by the automotive component sector and also presents a complete overview into the markets of auto accessories and powertrains.