Scope of the Report
This report provides an in-depth analysis of the Global Automotive Radiator Fan Market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Automotive Radiator Fan Market by fan type, fit type, material type, vehicle type, sales channel, and region.
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Market Highlights
Inside a vehicle, there are critical components that directly contribute to the smooth running and operation. Without these modules working properly, the vehicle will not be able to operate at the optimal stage. If the vehicle is operating at a sub-par level, so it is more likely that other elements will be affected adversely. Another cog in the system may be directly affected by a flawed mechanism, allowing it to misfire, function incorrectly, or do things that it should not.
Currently, various grades of aluminum and steel are commonly used for radiator fans. Although aluminum has numerous benefits over steel, including corrosion resistance and cost, it has less strength compared to steel. Composites can be easily used to substitute existing composites materials for fans with radiators as they offer decreased weight and light structure.
Sales of MHCVs is driven by the increased preference for transportation of freight across roadways. The growth in the sales of MHCVs contributes to the growth of the Automotive Radiator Fan Market. Apart from this, to reduce a vehicle's operating costs, automakers are focused on improving the engine's fuel economy. This increases the demand for radiator fans and other engine fan parts, which drives the growth of the global automotive radiator fan market.
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Based on region, the automotive radiator fan market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. In Asia-Pacific, there has been a consistent rise in vehicle production, which is driving the demand for Automotive Radiator Fan Industry in the region. North America is expected to be the second-largest region, in terms of market share, after Asia-Pacific.
Global Automotive Radiator Fan Market is anticipated to register a CAGR of 3% between 2020 and 2026.
The global market for automotive radiator fans has been classified based on fan type, fit type, material type, vehicle type, sales channel, and region.
By fan type, the global Automotive Radiator Fan Market share is divided into mechanical and electric. The electric segment is projected to grow with a higher CAGR during the forecast period.
By fit type, the global automotive radiator fan market has been split into direct fit and universal fit. The direct fit segment held the larger market share and is anticipated to register a notable CAGR during the forecast period.
Based on material type, the global automotive radiator fan market has been classified into steel, aluminum, and composite. The steel segment accounted for the largest market share and is anticipated to witness a significant CAGR during the forecast period.
By vehicle type, the global automotive radiator fan market can be divided into passenger car, commercial vehicle, and electric vehicle. The passenger vehicle segment is expected to register the highest CAGR in the coming years.
By sales channel type, the global Automotive Radiator Fan Market Size is bifurcated into OEM and aftermarket. The OEM segment is likely to register a significant CAGR during the forecast period.
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Key Players
The major players operating in the Global Automotive Radiator Fan Market include Johnson Electric Holdings Limited (Hong Kong), Robert Bosch GmbH. (Germany), Hella KGaA Hueck Co. (Germany), Standard Motor Products (US), Valeo (France), Mahle GmbH (Germany), Denso Corporation (Japan), BorgWarner Inc (US), Brose Fahrzeugteile SE Co. KG (Germany), USUI Co. Ltd. (Japan), Keihin Corporation (Japan), Delta Radiator Fan LTD. (Taiwan), ASMO CO, LTD (Japan), Nidec Corporation (Japan), and Toshiba Electronics Devices Storage Corporation (Japan).
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