Global Automotive Radiator Fan Market - Segmentation Analysis and Forecast by Technavio

According to the latest market study released by Technavio, the global automotive radiator fan market is expected to grow at a CAGR of more than 4% during the predicted period.

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This research report titled ‘Global Automotive Radiator Fan Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The demand for automotive radiator fans is directly proportional to the global production of vehicles powered by IC engines. In terms of application, the passenger cars (PCs) segment accounts for the largest market share, followed by light commercial vehicles (LCVs) and medium and heavy commercial vehicles (M&HCVs). The market is expected to grow at a steady pace due to the increase in the demand for PCs in the BRIC (Brazil, Russia, India, and China) nations.

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Technavio’s analysts categorize the global automotive radiator fan market into three major segments by application:

• Medium and heavy commercial vehicles
• Light commercial vehicles
• Passenger cars

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Global automotive radiator fan market for PCs

PCs that are powered by IC engines are equipped with radiator fans. Hence, the global demand for automotive radiator fans is directly proportional to the production of PCs. A radiator helps in exchanging heat and disseminates heat from the engine. A radiator fan helps in removing the excess heat present in the engine, thus ensuring the smooth functioning of the engines by drawing out the extra heat.

According to Amey Vikram, a lead automotive components research analyst from Technavio, “Auto manufacturers and automotive component manufacturers are focusing on the improvement of the efficiency and output of the engine. The increasing awareness on carbon emission from automobiles has led to growing emphasis on the reduction of carbon emission from vehicles that are powered by IC engine.”

Global automotive radiator fan market for LCVs

The increase in the demand for LCVs is the major driver of the global automotive radiator fan market. An increase in the popularity of LCVs is seen due to its numerous applications. LCVs, such as minivans and pickup trucks, are widely used for a variety of business purposes, such as mobile canteen and intercity transportation, which has led to an increase in the demand for LCVs in both developed and developing economies.

“During the combustion process, the powerful engines produce a large amount of heat, which must be disseminated from the engine to reach the peak efficiency. During combustion, more than 33% of the energy is lost in the form of heat. OEMs are making efforts to upgrade the radiator system to disseminate the heat generated by the powerful engines,” says Amey.

Global automotive radiator fan market for M&HCVs

The increased preference for the transportation of cargo through roadways will drive the sales of M&HCVs. The increase in the sales of M&HCVs will directly impact the sales of automotive radiator fans. China is one of the largest manufacturing hubs in the world. China prefers roadways for transporting freight due to the irregular freight services offered by rail and waterways and the high expenditure by airways.

Booming e-commerce sector in China and India is also increasing the sales of M&HCVs. Various e-commerce companies are focusing on improvement of its logistics to increase its bottom line. The demand for M&HCVs is expected to grow at a steady pace in India, due to various government initiatives, such as Make in India campaign, start-up India, and development of smart cities.

The top vendors highlighted by Technavio’s research analysts in this report are:

• Bosch
• Delphi
• DENSO
• Johnson Electric

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