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2019-06-18
320
Global
Automotive radiator market is majorly driven by the automotive OEMs demand. One area of focus for developing country automotive component suppliers is the manufacturing hubs of the China, Mexico and India. However, the OEM market for automotive radiators is ruled by the Tier 1 component suppliers for automotive OEMs. On the other hand, aftermarket sector for automotive radiators has much less consolidated situation and more opportunity for new entrants. Exporters and importers targeting the aftermarkets might find ease in enter the market through liberated distributors. The OEMs of commercial vehicles, tractors and other combustion engine-powered equipment is also a huge potential sector for the market growth.
By Product Type
By Material Type
By Vehicle Type
By End Users
By Geography
Goldstein Research analyst forecast the global automotive radiator market to expand at a CAGR of +4.1% during the forecast period 2017-2025. Further, the market is anticipated to reach USD 12.4 billion by the end of forecast period. Based on material type, aluminum accounted for the largest market share of more than 70% in global automotive radiator market in 2017. On the other hand, composite materials such as fiber glass-reinforced polyamide are expected to be the fastest growing materials at a CAGR of more than 6% during the forecast period owing to their light weight and high physical properties.
Geographically, Asia Pacific region accounted for the largest market share with 35% revenue share in global automotive radiator market. Asia Pacific is closely followed by the Europe, which occupied about 28% of the market share owing to presence of big automotive industry players and huge automobile production in the region. The major countries of Latin America such as Brazil and Mexico showcase huge opportunity for automotive radiator industry as the automobile manufacturing and sales are growing rapidly in these countries.
According to our global automotive radiator market study on the basis of extensive primary and secondary research, one major trend in the market is the rapid adoption of lightweight materials such as aluminum and composites in order to reduce the weight of overall component in order to reduce the weight of vehicle.
According to the report, major driver in global automotive radiator market is growing vehicle sales across the globe especially in developing countries such as China, India and Mexico among others. Moreover, emerging technologies such as electric vehicles will further boost the market growth, as the new designs and concepts of electric vehicles will demand innovative radiator systems. According our estimates, electric and hybrid cars sale are expected to reach 16 million units by 2021.
Further, the report states that one challenge in global automotive radiator market is high cost as the component industry is highly cost intensive and requires heavy initial investment.
The report covers the present ground scenario and the future growth prospects of the automotive radiator market for 2017-2025 along with the total revenue of automotive radiator industry in every region. We calculated the market size and revenue share on the basis of revenue generated per segment, region and country level. The revenue forecast is given on the basis of number of automotive radiator manufacturers and current growth rate of the market.
Global Automotive Radiator Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global automotive radiator market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive radiator market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our Global Automotive Radiator Market report comprises of the following companies as the key players in the global automotive radiator market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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