Due to the increasing production of cars the world over and the increasing vehicle parc, the market for global car radiator is being boosted. Also, as there are stringent emission norms enacted by governments all over the world, the global automotive industry is now developing cars that are more fuel efficient and that give out minimum emissions. Due to this, there is a trend of producing hybrid vehicles and this trend is expected to continue during the coming years.
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In order to effectively cool the components in hybrid cars, multi-layer radiator systems are required that use advanced coolant and even multiple radiator for cooling the engine, battery and the motors. This trend, in particular, is also responsible for the increasing demand for car radiators. Moreover, strict carbon emission norms and an emphasis on increasing the fuel efficiency of the cars are the other factors that are responsible for the growth of the global car radiator market.
The market in APEJ is set to dominate the global car radiator market in terms of value and this trend is projected to sustain itself throughout the assessment period. APEJ car radiator market is the most attractive market, growing at a robust CAGR over the forecast period.
According to the projections of Fact.MR, the down-flow product type segment is expected to reach a value of more than US$ 2,500 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022. The down-flow product type segment is estimated to account for nearly half of the revenue share of the product type segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
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According to the assessment of Fact.MR, the aluminum material type segment is poised to touch a figure of about US$ 3,890 Mn in the year 2022. This signifies a CAGR of more than 6% during the assessment period from 2017 till the year 2022. The aluminum material type segment is estimated to account for more than three-fourths of the revenue share of the material type segment by the end of the year 2017 and is projected to gain market share by 2022 over 2017.
The report also profiles companies that are expected to remain active in the expansion of global car radiator market through 2022, which include Valeo SA, Denso Corporation, MAHLE GmbH, Modine Manufacturing Company, Sanden Holdings Corporation, T.RAD Co., Ltd, TYC Brother Industrial Co., Ltd., Zhejiang Yinlun Machinery Co., Ltd and Banco Products (India) Ltd.
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