New York, United States, March 28, 2024 (GLOBE NEWSWIRE) -- The Global Engine Cooling System Market Size is to Grow from USD 33.67 Billion in 2023 to USD 53.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.66% during the projected period.
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An engine produces a lot of heat when it runs, so it must be cooled to protect the motor and other components. During a power stroke, gasoline is consumed, generating enormous heat and raising the vehicle's temperature. If excessive heat is not properly dissipated, it can damage the engine and its surrounding components. Thus, an engine cooling mechanism is required. The automobile engine coolant equipment is a critical component of the vehicle that regulates engine temperature by removing excess heat through fluid or airflow. Furthermore, continuous advancements in cooling system technologies, such as the introduction of electric cooling fans, variable speed pumps, and advanced materials, are driving the automotive engine cooling system market. Motor cooling fans will be in high demand due to raised secondary market sales and aftermarket demand. These factors are expected to drive the global automotive engine cooling system market over the forecast period. However, the higher cost of these systems may serve as a deterrent, particularly in price-sensitive markets. Furthermore, incorporating advanced cooling systems into vehicles can be a complex process requiring significant changes and adaptations.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Engine Cooling System Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Two Wheelers, Passenger Vehicles, Commercial Vehicles), By Engine Type (Air-Cooled Engine, Liquid-Cooled Engine), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The passenger vehicles segment is anticipated to hold the fastest share of the global engine cooling market during the projected timeframe.
Based on the vehicle type, the global engine cooling system market is divided into two-wheelers, passenger vehicles, and commercial vehicles. Among these, the passenger vehicles segment is anticipated to hold a significant share of the global engine cooling system market during the projected timeframe. Passenger vehicles, such as cars, SUVs, and vans, require effective cooling systems to keep the engine running at peak efficiency. Passenger vehicles commonly use liquid-cooled systems, which include radiators, water pumps, and cooling fans to effectively dissipate heat from engines of various sizes and configurations.
The front axle der segment is expected to hold the largest share of the global engine cooling System market during the forecast period.
Based on the engine type, the global engine cooling system market is divided into air-cooled engines and liquid-cooled engines. Among these, the front axle segment is expected to hold the largest share of the global engine cooling system market during the forecast period. Due to its benefits, such as compact size and improved cooling performance. Vehicles' internal combustion engines use liquid coolants to manage heat. The fluid keeps the cooling mechanism in good working order by removing excess heat from the engine and reducing long-term damage to the motor.
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Asia-Pacific is anticipated to hold the largest share of the global engine cooling market over the predicted timeframe.
Asia-Pacific is projected to hold the largest share of the global engine cooling market over the predicted timeframe. Due to of the expanding automobile industry in countries such as India and China, in addition to strict government regulations and standards in emerging economies. Furthermore, rapid urbanization caused by the expanding economy is expected to increase demand for passenger vehicles in the Asia Pacific region, boosting market growth in the coming years.
Europe is predicted to grow at the fastest pace in the global engine cooling market during the projected timeframe. Europe is a significant market for automotive engine cooling systems, due to strict emissions regulations and a strong automotive manufacturing base. Countries such as Germany, France, and Italy lead the way in vehicle production, driving demand for advanced cooling technologies to improve engine efficiency and meet environmental standards.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Engine Cooling Market are Denso Corporation, Valeo SA, Calsonic Kansei Corporation, Perkins Engines Company Ltd, MAHLE GmbH, BorgWarner Inc., Modine Manufacturing Company, Visteon Corporation, Schaeffler AG, Continental AG, Delphi Technologies, Robert Bosch GmbH, and Others.
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Recent Developments
- In June 2022, Schaeffler, an industrial and automotive supplier, announced that its automotive aftermarket division has developed second-generation thermal management components capable of regulating coolant temperatures in various cooling circuits as required.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Engine Cooling Market based on the below-mentioned segments:
Global Engine Cooling System Market, Vehicle Type Analysis
- Two Wheelers
- Passenger Vehicles
- Commercial Vehicles
Global Engine Cooling System Market, Engine Type Analysis
- Air-Cooled Engine
- Liquid-Cooled Engine
Global Engine Cooling Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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