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Automotive Radiator Fan Market Scenario
The Automotive Radiator Fan Market is projected to grow from USD 7.2 Billion in 2021 to USD 12.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) 5.5% during the forecast period (2023 - 2032).
There are critical components within the vehicle that specifically contribute to the car's smooth running and operation. Automobiles would not be able to run at the optimum level without these components operating correctly. If the vehicle is operating at a sub-par level, so it is more likely that other elements will be affected adversely. Another cog in the system may be directly affected by a flawed mechanism, allowing it to misfire, function incorrectly, or do things that it should not. The radiator fan is one aspect of the car that is critical for a smooth journey. There would be a miserable time going from point A to point B without the radiator fan running. The radiator fan is responsible for the drawing of cold air into the radiator of the vehicle. Between the radiator and the motor, the radiator fan is placed and is in charge of cooling the vehicle. When the vehicle is going too slow to receive external ventilation and air cannot pass through the grille, these cooling radiator fans are extremely useful. Based on the internal vehicle temperature, the electric cooling radiator fan, which turns on and off as needed, is an enhancement over engine-driven fans that slow down, usually at times when they are most needed. A failed radiator fan can cause the engine to overheat.
Currently, various grades of aluminum and steel are commonly used for radiator fan. Aluminum has numerous benefits over steel, including corrosion resistance and cost, but it has less strength than steel. Composites can be easily used to substitute existing composites materials for fans with radiators. They offer reduced weight and a light structure.
Global Automotive Radiator Fan Market has been classified based on Fan Type, Fit Type, Material Type, Vehicle Type, Sales Channel, and Region.
By fan type, the global automotive radiator fan market is divided into mechanical and electric. The electric segment is projected to grow with a higher CAGR during the forecast period.
By fit type, the global automotive radiator fan market has been split into direct fit and universal fit. The direct fit segment held the larger market share and is anticipated to register a notable CAGR during the forecast period.
Based on material type, the global automotive radiator fan market has been classified into steel, aluminum, and composite. The steel segment held the largest market share and is anticipated to witness a significant CAGR during the forecast period.
By vehicle type, the global automotive radiator fan market can be divided into passenger car, commercial vehicle, and electric vehicle. The passenger vehicle segment is projected to register the highest CAGR in the coming years.
By sales channel type, the Global Automotive Radiator Fan Market is bifurcated into OEM and aftermarket. The OEM segment is anticipated to register a significant CAGR during the forecast period.
Market Segmentation
Sales of M&HCVs is driven by the increased preference for transportation of freight across roadways. The growth in the sales of M&HCVs contributes to the growth of the automotive radiator fan market. Apart from this, to reduce a vehicle's operating costs, automakers are focused on improving the engine's fuel economy. This increases the demand for radiator fans and other engine fan parts, which consequently drives the growth of the global automotive radiator fan market.
Based on region, the automotive radiator fan market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. In Asia-Pacific, there has been a consistent rise in vehicle production, which is driving the demand for automotive radiator fans in the region. North America is expected to be the second-largest region, in terms of market share, after Asia-Pacific.
Key Players
The major players in the global automotive radiator fan market include Johnson Electric Holdings Limited (Hong Kong), Robert Bosch GmbH. (Germany), Hella KGaA Hueck & Co. (Germany), Standard Motor Products (US), Valeo (France), Mahle GmbH (Germany), Denso Corporation (Japan), BorgWarner Inc (US), Brose Fahrzeugteile SE & Co. KG (Germany), USUI Co. Ltd. (Japan), Keihin Corporation (Japan), Delta Radiator Fan LTD. (Taiwan), ASMO CO, LTD (Japan), Nidec Corporation (Japan), and Toshiba Electronics Devices & Storage Corporation (Japan).
Intended Audience
- Government and Research Organizations
- Consulting Companies in the Automotive Radiator Fan Market
- Raw Material Suppliers
- Automotive Radiator Fan Manufacturers
- Independent and Authorized Dealers of Automotive Radiator Fan Manufacturers
- Research Consultants
- Investors and Shareholder
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