Global Car Radiator Market Demand to be Valued at USD 8.5 Billion as of 2032, Fact.MR Report

NEW YORK, March 3, 2022 /PRNewswire/ -- A recently published study by Fact.MR anticipates that the global car radiator market is forecast to witness a CAGR of 6% across the 2022-2032 forecast period. By 2022-end, the industry is expected to be valued at US$ 4.7 billion. Additionally, the market experienced an upswing of 4.4% in Y-o-Y terms in 2021.

In the long-run, the market is expected to be valued at US$ 8.5 billion in 2032. Furthermore, car radiators are expected to comprise approximately 56% of overall market valuation of the automotive radiator industry. A major growth contributor of this market is the implementation of clean fuel emission standards, which is prompting manufacturers to introduce highly efficient car radiator technologies.  

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Besides, significant growth opportunities exist with regard to decorative and aesthetic appeal of automobiles. For instance, in 2019, Toyoda Gosei Co. Ltd. developed an automobile radiator grille which imparts a sportier feel to sports cars. Deploying a brilliant black luster, these grilles are mounted on LEXUS IS F-Sport special edition fleets. In recent years it has developed radiator grilles and other exterior products with lustrous paint containing a metallic material that reflects light.

Key Takeaways

• By material type, aluminium based car radiators are projected to exhibit a CAGR of 4.5% until 2032, gaining 173 BPS
• Cross flow car radiators are expected to accumulate a revenue share worth US$ 2.4 Billion in 2022
• By distribution channel, car radiator sales to be maximum via OEMs, expected to flourish at a CAGR of 6.2% until 2032
• Radiators for compact cars are expected to gain major traction, documenting a CAGR of 6%
• North America to be an attractive investment destination for car radiators, with the U.S comprising 90% of the regional market share
• Sales of car radiators to be maximum across China, expected to account for nearly 75% of the global market value

Prominent Drivers

• Constant improvements in automotive heat exchange systems operations is providing significant growth opportunities for car radiators. Also, mandatory legal compliance requirements to check for fuel emissions is also enhancing uptake
• The introduction of hybrid and electric motor vehicles will usher in new technological developments with regard to engine cooling technologies, significantly broadening expansion prospects

Key Restraints

• The need for frequent maintenance cycles is proving to be a hindrance to market growth, as it involves a considerable amount of expenditure on critical components such as cooling fans and heat exchangers

Market Competition

Companies working in the car radiator industry are expanding their product portfolio by launching new products as demand for car radiators is increasing due to rising demand for hybrid vehicles. Also, the key companies have adopted numerous strategies including merger & acquisition, partnership, expansion, product launch etc. Product launch is the key strategy to increase their market presence among customers.

• On 10th May 2019, Marelli has acquired Calsonic Kansei Corporation. Company will be able to expand its manufacturing base of radiators as well acquire large consumer base.
• On 28th July 2021, MAHLE has announced to expand aftermarket solutions range like transmission oil management, air conditioning service and calibration

Key Players Covered by Fact.MR

• Valeo SA
• Marelli
• Denso Corporation
• Mahle GmbH
• Zhejiang Yinlun Machinery Co., Ltd.
• Sanden Holdings Corporation
• T.RAD Co., Ltd.
• TYC Brother Industrial Co. Ltd.
• Nissen A/S
• Modine Manufacturing Company
• Banco Products (I) Ltd.
• Keihin Corporation

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Key Questions Covered in the Car Radiator Market Report

• What is the global car radiator market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the demand in the car radiator market?
• Who are the prominent players in the global car radiator market?
• Which is the most leading region in the car radiator market?

More Valuable Insights on the Car Radiator Market

Fact.MR, in its report, offers a market analysis of the global car radiator market analyzing forecast period through 2022 and beyond. This survey reveals the growth of technology in the car radiator market with detailed segmentation as follows: -

• By Product Type
• Down-Flow
• Cross-Flow
• By Material Type
• Aluminum
• Copper/Brass
• Aluminum/Plastics
• By Car Type
• Compact
• Sub-Compact
• Mid-Size
• Sedan
• Luxury
• Van
• By Sales Channel
• OEM
• Aftermarket
• By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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SOURCE Fact.MR