Automotive Radiator Market Research, 2032
The global automotive radiator market size was valued at $8.6 billion in 2023, and is projected to reach $13.5 billion by 2032, growing at a CAGR of 5.2% from 2024 to 2032.
Market Introduction and Definition
An automotive radiator is a heat exchanger device installed in vehicles; radiators are designed to regulate and expel the excess heat generated by the engine during its operation. Radiators are a critical component of automobiles and are integral to the engine cooling system, resulting in ensuring optimal engine performance and preventing it from overheating. A vehicle engine generates a substantial amount of heat, which can damage engine parts and lead to mechanical failures. Radiators ensure proper heat dispersion, thus ensuring the longevity of the engine and maintaining overall vehicle performance.
Key Takeaways
- The automotive radiator market share covers 20 countries. The research includes a segment analysis of each country in terms of value ($Million) for the projected period 2023-2032.
- More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major Automotive radiators industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
Recent Key Strategies and Developments
- On April 6, 2023, KOYORAD Co., Ltd. announced the opening of its new manufacturing facility in Myanmar. The new manufacturing facility is expected to manufacture radiators and AC condensers, especially for the aftermarket. The company doesn’t offer its product to vehicle manufacturers but focuses solely on aftermarket demand, especially those that require repair and then replacement after collisions. The company is diversifying its manufacturing facility to other parts of the world, especially in the Asia-Pacific region, due to the ageing population in Japan and increased labor wages. The production facility diversification model help KOYORAD Co., Ltd. to speed up its production and compete with manufacturers operating in China and Taiwan.
- On May 2, 2019, Griffin Thermal Products and Evans Waterless Coolants announced a joint marketing program. The joint program between the two companies is anticipated to develop the product efficiency and maximize the cooling system in the radiator by combining a premium Griffin radiator with the unique advantages of Evans Waterless Coolant by improving performance and helping in increasing the life of an engine’s radiator and cooling system.
Key Market Segments
- By Product
- By Material
- Aluminum
- Copper
- Brass
- Plastic
- By Vehicle Type
- Passenger Vehicle
- Commercial Vehicles
- By Distribution Channel
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Griffin Thermal Products
- Faret International Holdings Limited
- Marelli Corporation
- Visteon Corporation
- CSF Cooling
- MODINE MANUFACTURING COMPANY
- MAHLE GmbH
- Denso Corporation
- Valeo SA
- KOYORAD Co., Ltd.