According to a new market report published by Lucintel, the future of the global automotive radiator fan market looks promising with opportunities in the passenger vehicle, commercial vehicle, and electric vehicle segments. The global automotive radiator fan market is expected to grow with a CAGR of 5% from 2021 to 2026. The major drivers for this market are rapid urbanization, demand for smart cities, rise in adoption of electronic systems in modern vehicles, and increasing fuel efficiency of vehicles.
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In this market, mechanical and electric are the two major radiator fan types. On the basis of comprehensive research, Lucintel forecasts that electric will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the rise in the demand for electric vehicles and enactment of stringent rules and regulations regarding vehicle emission.
Within the global automotive radiator fan market, the passenger vehicle segment is expected to witness the highest growth over the forecast period due to the rise in passenger vehicle sales across the globe caused by rapid urbanization, increase in per capita income, and decrease in bank interest rates.
APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to the presence of a prominent automotive industry, increasing focusing on optimizing vehicle performance because of stringent government guidelines and mounting environmental concerns, and rising vehicle production as well as sales of electric vehicles in China.
Emerging trends, which have a direct impact on the dynamics of the industry, include installation of automotive radiators, technological advancement of engine components, and research and development activities. AMETEK Inc, Valeo SA, Horton Holdings Inc, SPAL Automotive, YILI Technologies, Robert Bosch GmbH, Denso Corporation, BorgWarner Inc., Delta Radiator Fan Ltd., and FLEXXAIRE are among the major suppliers of the automotive radiator fan market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive radiator fan market by material, radiator fan type, vehicle type, sales channel, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Radiator Fan Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global automotive radiator fan market by material, radiator fan type, vehicle type, sales channel, and region, as follows:
By Material [Value ($ Million) from 2015 to 2026]:
Steel
Aluminum
Composites
By Radiator Fan Type [Value ($ Million) from 2015 to 2026]:
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
By Sales Channel [Value ($ Million) from 2015 to 2026]:
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.