Automotive

Global Passenger Car Radiator Market

October 1, 2021
ID: SR/AU-35
Format:Pdf
Pages:220

Global Passenger Car Radiator Market: By Type (Copper-Brass, Plastic, and Aluminum), Application (SUV, Sedan, and Others), Distribution Channel (OEM, and Aftersales) and Region (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa) - Forecast till 2027.

Description

Global Passenger Car Radiator Market is estimated to grow significantly during the forecast period of 2021-2027. With the growing requirement for improved equipment, radiator demand is expected to rise significantly each year, directly contributing to the market’s growth. Additionally, the significant driving factor for the passenger car radiator market is the growing trend of engine downsizing for greater fuel efficiency and performance. Furthermore, strict pollution rules and car standards drive environmentally friendly radiators in automobiles worldwide, fuelling the passenger car radiator market. Moreover, the rising vehicle production and private equity investments in passenger car radiator manufacturing companies are expected to boost the market’s global growth.

What is Passenger Car Radiator?

A radiator is a combustion engine that cools internal combustion in automobiles, locomotives, planes, and motorbikes. It has an engine coolant, a liquid embedded inside and is used to keep the components cool. When the engine block heats up, the coolant cools it down and then passes it via a radiator, where it loses heat to the outside atmosphere. Engine coolant returns to its original place once it has cooled.

Growth Driver

Increasing adoption of the HVAC system

The demand for comfort & convenience functions in vehicles has increased significantly with rising disposable income, the rise in purchasing power, & changes in buyer preferences are propelling the demand of the Passenger Car Radiator Market. OEMs are now offering various advanced comfort and convenience functions to stay ahead in the competition. Previously, the HVAC system was only available in high-end and mid-range passenger cars. It is now, however, a standard feature in all passenger cars. Several governments throughout the world have enacted regulations governing cabin HVAC equipment. For example, the Indian government intends to require all commercial cars to have an air conditioning system. The market for HVAC systems in commercial and off-highway vehicles is being driven by these rules and growing awareness of driver safety.

Restraints

Upcoming emission norms

Concerns about environmental degradation have heightened the need to reduce carbon dioxide (CO2) and nitrogen oxide (NOx) emissions. Governments have tightened emission regulations worldwide, which will hamper the growth of the Passenger Car Radiator Market. On the other hand, emission standards have no bearing on consumers’ desire to acquire a high-performance vehicle. As a result, original equipment manufacturers (OEMs) are devising solutions to meet the rigorous emission standards. Changes in vehicle dynamics, weight reduction, green telematics, and other factors have been driven by the need to cut vehicle emissions. However, as pollution rules become more stringent, the EGR system may be replaced with more efficient technology, such as Selective Catalytic Reduction (SCR).

Pre Covid-19 impact

Due to significant advancements in new technology, the passenger car radiator market underwent certain structural changes in the pre-covid19 era. Artificial intelligence (AI) and machine learning dramatically improve robotic efficiency, accuracy, and consistency in the manufacturing process. OEMs added attractive features and enhanced revenue growth using Level 2 automation, including active safety systems and driver assistance.

Covid-19 impact

The COVID-19 epidemic has caught everyone off unprepared and pushed most countries and economies into crisis. Because of a reduction in demand worldwide, the OEM and aftermarket divisions of the worldwide Passenger Car radiator market are expected to have negative growth in the year 2020. Businesses will continue to suffer due to trade restrictions and reduced production operations until the virus is eliminated.

Following the pandemic, the market will gradually gain momentum and return to its normal growth rate.

Post Covid-19 impact

Post covid-19, various factors will influence the Passenger Car radiator market’s growth in different regions. The Passenger Car radiator market will be driven by the increasing adoption of hybrid power trains, growing technological developments, a growing agricultural sector driving demand for heavy commercial vehicles, increasing investments in research and development, rising infrastructure investment.

However, factors such as aftermarket counterfeiting may obstruct the global Passenger Car radiators market’s steady growth.

Type Segmental Analysis

By Type, the Passenger Car radiator market is categorized as Copper-Brass, Plastic, Aluminum, and others. Because of its high adoption rate, the aluminum sector is the largest in the passenger car radiator market by material.

Distribution channel analysis

By Distribution Channel, the Passenger Car radiator market is segmented into OEM and Aftersales. The OEMs sector is expected to lead the global market with a large market value throughout the forecast period. The aftermarket segment, by sales channel, is expected to grow at a reasonably high-value CAGR over the forecast period.

Application Segmental Analysis

By Application, the Passenger Car radiator market is segmented into SUVs, sedans, and Others. The SUV car segment is accounted as most profitable and has the most growth potential in the market. It can be accounted to the advancements in passenger automobile technology. The segment of the Sedan car is the second-largest in terms of market share.

Region Segmental Analysis

The Passenger Car Radiator market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific market for Passenger Car radiators is expected to be the largest and fastest-growing. Asia – Pacific region is the world’s largest automobile market, with growing economies like China and India existing with developed economies like South Korea and Japan. Because of low production costs and the availability of inexpensive labor, the Asia Pacific area has emerged as a hub for vehicle production in recent years. As a result, the Asia Pacific area has grown faster than Europe and North America’s mature markets.

Competitor Analysis

Joint Radiator Factory, Denso Corporation, Modine Manufacturing Co., Valeo SA, Calsonic Kansei Corp., Dongfeng Radiator Co., Ltd, Visteon Corp, Delphi Automotive plc, Faret International Holdings Limited, Anhui Fengyang Radiator Co., Ltd, Guangdong Faret Auto Radiator Co., and Others are the Prominent Players of the Passenger Car Radiator market.

Key Stakeholders

Market research and consulting firms
Industry associations
Local Governments
Tourists
Ecological Groups
Research organizations and consulting companies
Tourism Agencies
NGOs
Regulatory bodies

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 22.36 Billion
The revenue forecast in 2027	USD 36.2 Billion
Growth Rate	CAGR of 6.25% from 2021 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Joint Radiator Factory, Denso Corporation, Modine Manufacturing Co., Valeo SA, Calsonic Kansei Corp., Dongfeng Radiator Co., Ltd, Visteon Corp, Delphi Automotive plc, Faret International Holdings Limited, Anhui Fengyang Radiator Co., Ltd, Guangdong Faret Auto Radiator Co., and Other Prominent Players

Market Modeling

By Type

Copper-Brass
Plastic
Aluminum

By Application

SUV
Sedan
Others

By Distribution Channel

OEM
Aftersales

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Recent Developments

In September 2021, Valeo and Leoni combine their skills to deliver the best-in-class solution for zone controllers, critical components of future vehicles.
In May 2021, Hanon Systems announced the acquisition of the Corporation’s condenser business for certain operations in Europe and North America, expanding its ability to supply automakers with condenser technology and diversifying its customer base.
In March 2020, MARELLI announced a strategic alliance with Transphorm Inc. to obtain vital access and insights into cutting-edge technology to develop electric vehicles, specifically power converters, onboard chargers, and inverters for electric and hybrid vehicles.

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the size of the Passenger Car Radiator market?

The Passenger Car Radiator market is valued at USD 22.36 Billion in 2020 and will reach USD 36.2 Billion by 2027.

What is the growth rate of the Passenger Car Radiator market?

The Passenger Car Radiator market is growing at a CAGR of 6.25% during the forecast period.

What does a radiator mean?

A radiator is a combustion engine that cools internal combustion in automobiles, locomotives, planes, and motorbikes.

What are the growth drivers of the Passenger Car Radiator market?

Increasing adoption of the HVAC system and the growing trend of engine downsizing for greater fuel efficiency and performance are the growth drivers of the Passenger Car Radiator market.

What is the competitive landscape of the Passenger Car Radiator market?

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Global Passenger Car Radiator Market