Global Automotive Cooling Fan Market to Reach $62.7 Billion by 2030
The global market for Automotive Cooling Fan estimated at US$51.1 Billion in the year 2023, is expected to reach US$62.7 Billion by 2030, growing at a CAGR of 3% over the analysis period 2023-2030. Automotive Cooling Fan for Passenger Cars, one of the segments analyzed in the report, is expected to record a 3.4% CAGR and reach US$43 Billion by the end of the analysis period. Growth in the Automotive Cooling Fan for Commercial Vehicle segment is estimated at 2.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.4 Billion, While China is Forecast to Grow at 5.4% CAGR
The Automotive Cooling Fan market in the U.S. is estimated at US$13.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9 Billion by the year 2030.
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