Technavio, a tech-focused market research firm, has published a new report on the global automotive radiator market, which is expected to grow at a CAGR of more than 4% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global automotive radiator market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global automotive radiator market are elaborated below:
Automotive radiator market in APAC: APAC has the fastest growth rate in terms of the sales volume of the vehicles. Increasing disposable incomes, launches of new car models by OEMs, low penetration of passenger cars, and the perception of achieving a higher social status by owning a car are some of the key driving forces behind growth of the automotive radiator market in APAC.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive components, “In China, the adoption of automotive radiators is fueled by factors like government initiatives for environment-friendly vehicles, stringent carbon emission norms, schemes formulated for the adoption of electric vehicles, increase in the number of EVs charging stations, increasing participation by the foreign and local OEMs to make EVs efficient and effective.”
Automotive radiator market in the Americas: The market for automotive radiators in the Americas is driven by low gasoline prices, low interest rates that lead to easy credit availability, low unemployment rate, and the increase in leasing of vehicles. In the Americas, the auto manufacturers are pushing their sales to the car rental firms and leasing the vehicle. According to Technavio’s market research analysts, the automotive radiator market in the Americas is expected to register growth at a CAGR of around 4% between 2017 and 2021.
Automotive radiator market in EMEA: Hatchbacks are popular in the passenger cars segment in Europe due to their affordability, fuel efficiency, and the increased need for personal mobility in the region. Volkswagen Golf, Volkswagen Polo, Ford Fiesta, Renault Clio, and Vauxhall/Opel Corsa are some of the popular players in the market in this region. The market for automotive radiators in EMEA is expected to account for more than 18 million units by the end of the forecast period.
The leading vendors operating in the global automotive radiator market are:
- DENSO
- Valeo
- MAHLE
Other prominent vendors in the market include Calsonic Kansei, SANDEN USA, and Nissens.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Radiator Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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