(MENAFN- PR Newswire)
NEW YORK, June 21, 2024 /PRNewswire/ -- The global
automotive radiator fan market
size is estimated to grow by USD 251.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about
7.08%
during the forecast period.
Increasing demand for fuel-efficient vehicles
is driving market growth,
with a trend towards
replacement of mechanical fans with electric radiator fans. However,
increasing adoption of evs
poses a challenge. Key market players include Air International Thermal Systems, AMETEK Inc., Bergstrom Inc., BorgWarner Inc., Delta Electronics Inc., DENSO Corp., Flexxaire Inc., HELLA GmbH and Co. KGaA, Horton Holding Inc., Johnson Electric Holdings Ltd., MAHLE GmbH, Marelli Holdings Co. Ltd., Multi Wing America Inc., Nidec Corp., NRF BV, Robert Bosch GmbH, SPAL Automotive Srl, Sunonwealth Electric Machine Industry Co. Ltd., Toshiba Corp., and Valeo SA.
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Technavio has announced its latest market research report titled Global automotive radiator fan market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Type (Ring type and Box type), Application (Passenger cars, LCVs, and M and HCVs), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
| Key companies profiled |
Air International Thermal Systems, AMETEK Inc., Bergstrom Inc., BorgWarner Inc., Delta Electronics Inc., DENSO Corp., Flexxaire Inc., HELLA GmbH and Co. KGaA, Horton Holding Inc., Johnson Electric Holdings Ltd., MAHLE GmbH, Marelli Holdings Co. Ltd., Multi Wing America Inc., Nidec Corp., NRF BV, Robert Bosch GmbH, SPAL Automotive Srl, Sunonwealth Electric Machine Industry Co. Ltd., Toshiba Corp., and Valeo SA |
Key Market Trends Fueling Growth
The automotive radiator fan market is experiencing growth due to the adoption of electric radiator fans. These fans enhance engine cooling and air conditioning at idle states, increasing horsepower and improving fuel efficiency. Electric fans draw power from the vehicle's electrical system, eliminating parasitic horsepower loss. Consistency in cooling is ensured, and fans can be mounted in various positions with adjustable thermostats. Available in multiple sizes and configurations, electric fans maximize power and fuel efficiency under extreme weather conditions.
The Automotive Radiator Fan market is experiencing significant growth due to the increasing demand for efficient cooling systems in vehicles. Companies are focusing on developing advanced fan technologies, such as electric fans and thermoelectric fans, to meet this demand. The use of composite materials in radiator fan manufacturing is also on the rise, as they offer lightweight and durable solutions. Additionally, the integration of sensors and control systems in radiator fans is trending, enabling better temperature regulation and fuel efficiency. Overall, the market is driven by factors like rising vehicle production and the need for eco-friendly technologies.
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Market
Challenges
The automotive radiator fan market faces challenges due to the rising adoption of Electric Vehicles (EVs). Eliminating the need for engines and transmission systems in EVs reduces the demand for radiator fans. Government initiatives, battery technology advancements, and charging infrastructure improvements have accelerated EV market growth. These factors may impede the automotive radiator fan market's expansion during the forecast period.
The Automotive Radiator Fan market faces several challenges. Engines run hot during operation, requiring effective cooling systems. Regulations drive the need for fuel efficiency and lightweight materials. Radiator fans play a crucial role in engine cooling. However, factors like climate, driving conditions, and vehicle type impact fan design and functionality. Engines in extreme temperatures require more powerful fans. Conversely, in milder climates, fans must be efficient to save fuel. Additionally, the trend towards electric and hybrid vehicles poses challenges for fan manufacturers. They must design fans that work with different cooling systems and meet specific vehicle requirements. Closures, materials, and technology are key areas of focus to address these challenges.
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Segment Overview
This automotive radiator fan market report extensively covers market segmentation by
Type
1.1 Ring type
1.2 Box type
Application
2.1 Passenger cars
2.2 LCVs
2.3 M and HCVs
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1
Ring type-
The ring type segment of the automotive radiator fan market features circular or ring-shaped fans, known for their compact size, lightweight construction, and efficient airflow. These fans are popular in smaller vehicles due to their improved cooling efficiency and space savings. The global market for ring type radiator fans is fueled by the automotive industry's expansion, including passenger cars, LCVs, and M and HCVs. Key factors driving demand include increased vehicle production, consumer preference for fuel-efficient vehicles, and stricter emission regulations. Major players like Denso and BorgWarner provide a range of ring type fans with various specifications and features to meet the needs of vehicle manufacturers. These fans are often made using lightweight materials to reduce weight and boost fuel efficiency.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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Research Analysis
The Automotive Radiator Fan Market is experiencing significant growth due to the increasing focus on fuel efficiency and electrification in the transportation sector. Emissions regulations are driving the demand for advanced cooling solutions, leading to the development and implementation of efficient fan technology. However, some factories are closing due to flawed mechanisms in the supply chain, which may impact the optimum level of production and delivery. Sustainability and technological advancement are key elements shaping the market, requiring coordination between vehicle manufacturers and components suppliers to ensure a smooth journey from Point A to Point B.
Market Research Overview
The Automotive Radiator Fan market encompasses the production, supply, and installation of radiator fans used in various vehicle models. These fans ensure efficient cooling of engine compartments by circulating air through the radiator. The market is driven by factors such as increasing vehicle production and sales, stringent emission norms, and the growing demand for fuel-efficient vehicles. The use of advanced materials like aluminum and composite materials in radiator fan manufacturing contributes to the market's growth. Additionally, the integration of electric fans and thermostats in radiator systems enhances vehicle performance and fuel economy. The market also faces challenges such as the high cost of raw materials and the increasing competition from aftermarket players. Overall, the Automotive Radiator Fan market is expected to grow steadily due to the rising demand for cooling systems in the automotive industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Application
Passenger Cars
LCVs
M And HCVs
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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SOURCE Technavio
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