"Automotive Radiators Market to Exhibit Steady Growth in Near Future"

The automotive radiators market worldwide is expected to grow with a CAGR of 4.53% during the forecast period from 2021 to 2029, starting from US$ 10.06 Bn in 2020. A radiator is a component used for cooling the internal combustion engine across different categories such as automobiles, locomotives, aircrafts and motorcycles. The benefit of using a radiator is to protect the engine from overheating, which can damage the overall engine. As radiators safeguard the engines and increase their life, radiators form an integral component for automobiles. Due to the rise in production and consumption of automobiles, we are expecting a steady growth in the automotive radiators market.

"Aluminum Radiators to Continue as the Market Leader"

In 2020, aluminum radiators segment led the market with over 50% share worldwide. Aluminum radiators have various benefits such as lightweight and more durability, which gives them an edge over copper & brass radiators. As aluminum is a recyclable metal, these radiators form an environment-friendly product. Another benefit of aluminum radiators is lightweight, which ultimately helps keeping the vehicles weight minimum. Thus, manufacturing companies prefer to use aluminum radiators. On account of these benefits, aluminum radiators is expected to continue leading the market in the forecast period.

"Asia Pacific to Continue as the Market Leader in the Forecast Period"

In 2020, Asia Pacific led the market with more than 40% of the market share followed by North America and Europe. As automobiles sales is increasing in the region, so is the automotive radiators market. There is a significant rise in the automotive components segment in Asia Pacific, which is helpful for the automotive radiators market. Since, Asia Pacific is the largest producer and consumer of automobiles; the region forms the largest market for automotive radiators. On account of these factors, we are expecting a steady growth in the automotive radiators market during the forecast period.

Some of the prominent players operating in the automotive radiators market include Mahle Behr GmbH & Co. KG, DENSO Corporation, Dongfeng Radiator Co. Ltd, Visteon Corporation, Aptiv PLC, Modine Manufacturing Company, Valeo S.A., Calsonic Kansei Corporation, Anhui Fengyang Radiator Co. Ltd, Tianjin Yaxing Radiator Co. Ltd., Shandong Houfeng Group and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Radiators market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Radiators market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Radiators market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Radiators market?
• Which is the largest regional market for Automotive Radiators market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Radiators market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Radiators market worldwide?