New York, US, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR)," Automotive Radiator Fan Market Research Report: Information by Fan Type, Sales Channel, Fit Type, Vehicle Type, Material Type, and Region - Forecast till 2030”, the automotive radiator fan market is likely to flourish significantly during the assessment era from 2022 to 2030 at a robust CAGR of approximately 4% to attain a size of around USD 68 billion by the end of 2030.
Automotive Radiator Fan Market Overview:
There are various essential parts in an automobile, mainly contributing to the car's smooth operation and running. Vehicles would not be able to run at the optimal level without these parts functioning correctly. If the vehicle is running at a sub-par level, so it is expected that other elements will impact it negatively. Another mechanism in the system may be affected by a faulty mechanism, enabling it to backfire, operate improperly, or do things it should not. The radiator fan is one part of the car crucial for a smooth journey. There would be a wretched time going from point A to point B without the radiator fan running. The radiator fan is accountable for representing cold air into the vehicle's radiator. When the vehicle is too slow to get outside ventilation and air cannot pass through the grille, these cooling radiator fans are precious.
Competitive Analysis
The catalog for the prominent participants across the global automotive radiator fan market includes players such as:
- Johnson Electric Holdings Limited (Hong Kong)
- Mahle GmbH (Germany)
- Robert Bosch GmbH. (Germany)
- Denso Corporation (Japan)
- Hella KGaA Hueck & Co. (Germany)
- BorgWarner Inc (U.S.)
- Standard Motor Products (U.S.)
- Brose Fahrzeugteile SE & Co. KG (Germany)
- Valeo (France)
- Toshiba Electronics Devices & Storage Corporation (Japan)
- USUI Co. Ltd. (Japan)
- Nidec Corporation (Japan)
- Keihin Corporation (Japan)
- ASMO CO, LTD (Japan)
- Delta Radiator Fan LTD. (Taiwan)
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Automotive Radiator Fan Market USP Covered
Market Drivers
The global automotive radiator fan market has expanded immensely in recent times owing to the factors such as a rise in the sale and production of vehicles, a rise in demand for electronic systems, a surge in demand for fuel efficiency, and high penetration of air conditioning systems.
Market Restraints
On the other hand, the high cost of these fans may restrict the market's performance.
COVID-19 Impact
The global automotive radiator fan market has witnessed massive impacts, given the arrival of the COVID-19 pandemic. On the other hand, with all the financial and industrial activities returning to normal, the market is likely to grow substantially over the coming years.
Report Scope:
| Report Metrics | Details |
| Market Size | 2030: USD 68 Billion |
| Growth | 2022-2030: 4% CAGR |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | The growth in the sales of M&HCVs Increases the demand for radiator fans and other engine fan parts Rise in vehicle production |
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Automotive Radiator Fan Market Regional Analysis
The global automotive radiator fan market is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
According to the research reports by MRFR, the Asia-Pacific region is anticipated to hold the top spot across the global automotive radiator fan market over the assessment period. The constant increase in vehicle production is considered the main parameter is supporting the regional market's growth. The regional undercurrents of the automotive engine cooling fan market are likely to vary widely across regions. Furthermore, the consistent rise in demand for passenger vehicles across the region is also predicted to influence the regional market's growth over the review era. Moreover, the factors such as lower interest rates, stable economic conditions, and rapid urbanization are also predicted to catalyze the growth of the regional market over the coming years. In addition, the presence of leading automotive manufacturers across China, India, and Japan is boosting the automotive radiator fan market in the region. The constant rise in the manufacture and selling of electric cars is another crucial parameter anticipated to support the regional market's growth over the forecasted period. Additionally, the escalation in the output and sale of electric vehicles across the region is also predicted to cause a boost in the growth of the market over the assessment period.
The automotive radiator fans market for the North American region is likely to show significant growth over the coming years. the region has the U.S. as the leading growth contributor. The enormous PARC fleet in the nation and the manufacturing capacity of the U.S. is considered to be the central aspect supporting the growth of the regional market.
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The European regional market for automotive radiator fans is anticipated to grow substantially over the review period. Germany has been at the vanguard of automobile manufacturing developments, which is considered the central aspect is supporting the market's growth. Furthermore, the full-fledged operations of the number of O.E. Manufacturers are likely to grow the market of Europe at an extraordinary speed over the years.
The automotive radiator fans market for the Latin American region is anticipated to record some growth over the assessment era. The growing sales of automobiles across the region are considered to be the main parameter supporting the regional market growth.
The automotive radiator fans market for the Middle East and African region are anticipated to grow substantially during the review period over the coming years, given the limited manufacturing and confined existing vehicle in most African countries.
Automotive Radiator Fan Market Segment Analysis
Among all the suitable types, the direct fit fans segment is anticipated to secure the top rank across the global automotive radiator fan market over the assessment era. The higher quality and durability of these direct-fit fans is the main factor boosting the segment's growth. Furthermore, they are simpler to install than universal fit fans, which is also likely to catalyze the segment's growth over the coming years.
Among all the material types, the aluminum segment is anticipated to secure the top spot across the global automotive radiator fan market during the review era, given that it is widely used because of its benefits, such as aesthetic look, corrosion resistance, and less density compared to steel. Additionally, the rising demand for lightweight vehicles is also [predicted to boost the segment's growth over the coming years.
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Among all the vehicle types, the passenger cars segment is predicted to hold the top spot across the global automotive radiator fan market over the coming years, given the factors such as the penetration of advanced cooling systems, increase in per capita income, rapid urbanization, and surge in production of passenger cars.
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