The global market for Automotive Radiators is projected to reach $19.3 billion by 2024, driven by healthy automobile production trends and a robust aftermarket. Automotive Radiators form a vital part of the cooling system of a vehicle. With increasing focus being shed on fuel economy, emissions control and engine performance, radiators are witnessing increased technology focus. The performance and/or functioning of an internal combustion engine is many a time limited by the performance of the cooling system of the vehicle, of which the radiator is the nerve center. For instance, over 70% of gasoline is converted into heat, requiring robust cooling mechanisms to cool the engine.
Over the years, radiator manufacturing and engineering have evolved to handle aggressive driving, low speed driving and extreme temperatures to provide optimum heat transfer performance under all conditions. However, there exists scope for improvement to match advanced engine designs. Nanofluids promise to fill the gap between present performance characteristics of existing radiators and automobile engineers’ expectations, by providing improved cooling utilizing the same architecture or match the cooling performance with a smaller footprint. Nanofluids feature higher heat transfer rate than base fluid and therefore require changes in radiator design and architecture. Automotive production is the primary growth driver in the market, as OEM demand accounts for the lion’s share of the global automotive radiator demand. The aftermarket serves replacement demand. Given that a radiator does not fall in the high wear & tear and replacement category of automotive components, replacement demand arises mostly out of damage to radiators owing to collisions and improper maintenance of prescribed coolant levels.
The research report titled ” Global Automotive Radiators Market Analysis: 2018-2024″ announced by GMR Analytics, provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America).