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Automotive Cooling Fans Market by Type (Radiator Fan, Electric Fan, Mechanical Fan, Condenser Fan and Heat Ventilation Fan), Vehicle Type (Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Vehicle), Fuel Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Electric Vehicle (PEV) and Internal Combustion Engine (ICE)), and Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Sep 2020 | 87 Views
 
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Automotive Cooling Fans Market Outlook – 2027 

Automotive cooling fans in a vehicle provide constant cooling and ventilation for various components such as engine & electronics. An internal combustion engine (ICE) generates gases at a very high temperature, due to the burning of fuel inside the combustion chamber owing to which a cooling mechanism is required to allow the functioning of engine at normal temperature. Cooling fans allow the air to pass through the radiator for cooling the engine. Similarly, electrical systems such as the infotainment & air conditioning system are installed with condenser fans to maintain desired temperature. Therefore, the demand for automotive cooling fans is projected to boost the growth of the automotive cooling fan market in the future. 

 

Market scope and structure analysis:

                   Report Metric

                                              Details

  Market size available for years

  2020–2027

Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Vehicle Type, Fuel Type, Sales Channel and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

The major players analyzed include AMETEK. Inc, DENSO CORPORATION, Flexxaire Inc., Horton Holding Inc., Multi-Wing America Inc., SPAL Automotive, Sunonwealth Electric Machine Industry Co. Ltd, Valeo SA, Continental Automotive GmbH, and Toshiba Electronic.

COVID-19 scenario analysis: 

  • A negative impact on the automotive cooling fan market is observed in the demand and the supply network majorly due to Corona virus. 
  • Automotive cooling fan is an important component used in the vehicle. Majorly due to Corona virus all the production and supply network of automotive cooling fan had been shut down.
  • Majority of issues such as closure of factories and unavailability of workforce are faced by the automotive cooling fan manufacturers.
  • As the lockdown has been declared all over the world over the past few months, the demand and supply cycle of many automotive cooling fan manufacturers is vulnerable.
  • The economic situation is largely deteriorated due to the pandemic, series of measures are being taken by the global automotive cooling fan market by shutting down the manufacturing plants and giving the workforce their wages on advanced basis.

Top impacting factors: Market scenario analysis, trends, drivers, and impact Analysis

Increase in adoption of electronic system in the vehicles, rise in demand for hybrid electric vehicles, and introduction of advanced technologies such as new vibration free blades are driving the growth of the market. However, higher power consumption of the system is expected to hamper the growth of the market. On the contrary, introduction of lightweight, temperature resistant, and stable cooling fans is anticipated to create an opportunity for the market investments.

The global automotive cooling fan market trends are as follows:

Rise in demand for hybrid electric vehicles

Electric vehicles have witnessed a rapid rise in demand in the recent past due to high pollution levels. Hybrid electric vehicles require additional cooling fans than an internal combustion engine vehicle. Combination of batteries & a turbo engine require a greater number of electrical automated cooling fans in the vehicle. The cooling fans for hybrid vehicle requires a greater amount of power since the heat is not only generated by the engine but also from the battery pack & motor. Furthermore, single chip temperature sensors and optimized management of the fan’s speed is necessary for efficient cooling. Therefore, growth in demand for hybrid electric vehicles is expected to boost the growth of the automotive cooling fans market.

Key segments covered:

                 Segments

                                Sub-segments

  Type

  • Radiator Fan
  • Electric Fan
  • Mechanical Fan
  • Condenser Fan
  • Heat Ventilation Fan

  Vehicle Type

  • Heavy Commercial Vehicle
  • Light Commercial Vehicle
  • Passenger Vehicle

  Fuel type

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-in Electric Vehicle (PEV)
  • Internal Combustion Engine (ICE)

  Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Turkey
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the cooling fans industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive cooling fans market.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the automotive cooling fans market growth scenario.
  • We can also determine cooling fans will remain a significant revenue shareholder in the global automotive cooling fans market through the predictable future.

Questions answered in the global automotive cooling fans market research report:

  • Which are the leading market players active in the automotive cooling fans market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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