Automotive Radiator Market, by Material Type (Aluminum, Copper/Brass, and Aluminum/Plastic), by Radiator Type (Down Flow and Cross Flow), by Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), by Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
The study includes in-depth overview of the global automotive radiator market. The automotive radiator market was valued at US$ 6,768.7million in 2021 and is projected to reach US$ 11,580.2 million by 2030, exhibiting a CAGR of 5.9 % over the forecast period. Growth of the automotive radiators market is driven by increasing adoption of hybrid powertrains on account of its lower emissions and hybrid technology, which allows minimal fuel consumption as compared to internal combustion engines with the help of fully electric mechanism, growing agricultural sector, which is increasing the demand for heavy commercial vehicles..
Market Dynamics
Radiators play an important role in maintaining the stable temperature of an engine. Increasing number of research and development initiatives by manufacturers are leading to the development of light-weight and efficient radiators, in turn, boosting growth of the market. Also, stringent government regulations regarding reduced emissions is boosting demand for automotive radiators. Advanced radiators such as those which consume ground level ozone and convert it into oxygen are being adopted, owing to increasing demand for light weight engine components, in turn, propelling the demand for aluminum radiators.
Key features of the study:
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