E-Commerce Is Fastest Growing Segment Fueling The Growth Of Automotive Radiator Market



https://www.coherentmarketinsights.com/market-insight/automotive-radiator-market-1451
Automotive Radiator Market 




Market Overview:
Automotive radiators are heat exchangers used in automotive vehicles to transfer heat from the engine and interior cabin to the outside air. They provide efficient cooling and help maintain optimal engine temperature for smooth functioning. The growing automotive production and emphasis on efficient vehicle performance is driving the demand for automotive radiators.

Market key trends:
One of the key trends in the automotive radiator market is the rising demand for lightweight and durable radiators. OEMs are focusing on reducing vehicle weight to meet stringent fuel efficiency and emission norms. This has led to advances in material sciences and adoption of lighter materials like aluminum and plastics for radiator manufacturing. Radiators made of lightweight materials have better heat transfer efficiency, require less coolant, and help improve vehicle performance and mileage.

The global Automotive Radiator Market Growth is estimated to be valued at US$ 7.59 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global automotive radiator market is segmented by type, vehicle type, sales channel, and region. Based on type, the liquid-cooled radiator segment dominated the market in 2022, accounting for around 65% share. Liquid-cooled radiators offer better cooling capacity than air-cooled radiators, making them suitable for contemporary automobiles with powerful engines.

Key Takeaways
The global automotive radiator market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing vehicle production and sales across the world.

Regional analysis
Asia Pacific dominated the global market in 2022 and is expected to witness the fastest growth during the forecast period. Countries like China, India, and Japan are leading automotive manufacturing hubs with large production volumes. According to OICA, Asia Pacific accounted for over 50% of total vehicle production in 2021.

Key players operating in the automotive radiator market are Denso Corporation, Valeo SA, Calsonic Kansei Corporation, Mahle GmbH, Sanden Holdings Corporation, TYC Brother Industrial Co. Ltd., Modine Manufacturing Company, Sciton Inc., Keihin Corporation, PWR Advanced Cooling Technology, Griffin Thermal Products, and Saldana Racing Products.

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