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Automotive Cooling Fans Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Automotive Cooling Fans Market Growth Analysis with investment Opportunities For 2024-2033
It will grow to $70.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, September 30, 2024 /EINPresswire / -- The automotive cooling fan market has experienced robust growth in recent years, expanding from $53.49 billion in 2023 to $56.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to growing vehicle production, regulatory standards, climate conditions, consumer preferences, and OEM and aftermarket dynamics.
What Is The Estimated Market Size Of The Global Automotive Cooling Fans Market And Its Annual Growth Rate?
The automotive cooling fan market is projected to continue its strong growth, reaching $70.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to electric vehicle adoption, stringent emission standards, materials innovation, global economic outlook, supply chain dynamics.
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Growth Driver Of The Automotive Cooling Fans Market
The increasing traction of electric vehicles is expected to propel the growth of the automotive cooling fan market going forward. Electric vehicles refer to vehicles propelled by an electric motor powered by a battery pack that converts electrical energy into mechanical energy to power the vehicle while reducing aerodynamic drag, rolling resistance drag, and kinetic resistance. Automotive cooling fans are used in electric vehicles to cool lithium-ion battery packs, increase the battery cooling system's performance, and reduce the risk of a fire due to overheating.
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Which Market Players Are Steering The Automotive Cooling Fans Market Growth?
Key players in the market include AMETEK Inc., DENSO Corporation, Flexxaire Inc., Horton Holding Inc., Multi-Wing America Inc., SPAL Automotive Srl, Toshiba Electronic Devices & Storage Corporation, Sunonwealth Electric Machine Industry Co. Ltd., Valeo SA, Continental AG, USUI Co. Ltd., SCFM Corporation, Guangzhou Tech Master Auto Parts Co. Ltd., Standard Motor Products Inc., The ebm-papst Group, Delta Electronics Ltd., BorgWarner Inc., Flowserve Corporation, General Electric Company, Nidec Corporation, American Cooling Technology Inc., Pelonis Technologies Inc., Kenlowe Group Ltd., Truflo International Ltd., Ziehl-Abegg SE, Rosenberg Ventilatoren GmbH, Howden Group Ltd., ABB Ltd., Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, Emerson Electric Co., Honeywell International Inc.
What Are The Key Trends That Influence Automotive Cooling Fans Market Size?
Major companies operating in the automotive cooling fan market are developing innovative products, such as electric fan systems, to strengthen their position in the market. Electric fan systems are cooling systems in vehicles that utilize electrically powered fans to manage the temperature of various components.
How Is The Global Automotive Cooling Fans Market Segmented?
1) By Type: Radiator Fan, Electric Fan, Mechanical Fan, Condenser Fan
2) By Sales Channel: OEMs (Original Equipment Manufacturers), Aftermarket
3) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
Geographical Insights: Asia-Pacific Leading The Automotive Cooling Fans Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report forecast period. The regions covered in the automotive cooling fans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Cooling Fans Market Definition
The automotive cooling fan is an important component of the cooling system used in automobiles to keep the operating temperature of the engine within a specified range to optimize the overall performance of the engine.
Automotive Cooling Fans Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive cooling fan market report covering trends, opportunities, strategies, and more
The Automotive Cooling Fans Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive cooling fan market size, automotive cooling fan market drivers and trends and automotive cooling fan market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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