The automotive radiator fan market is predicted to grow at a CAGR of 4.2% from the period 2022 to 2030. Automotive cooling fans are essential components. They provide cooling for engines and various other electronic components.
The radiator fans are propelled using a motor. Automotive radiator fans are used as per the necessity of the vehicles and perform the scheduled task only when the car runs at a low speed or is stopped. The fan starts operating when a temperature is reached.
Currently, either aluminum or steel is used in the manufacturing process of the automotive radiator fan. Aluminum is much better as far as corrosion resistance and cost factors are considered. However, owing to its strength, steel is more widely used compared to aluminum.
The inception of covid 19 had a massive impact on the automotive radiator fan market. There was no growth in the automobile industry. This was mainly due to disruptions in the supply chain. The automobile industry suffered heavy losses, especially in the third and fourth quarters of 2020.
Moreover, exports from many countries were halted, and the raw materials were not readily available. Because of the factors mentioned above, sales of automotive radiator fans declined greatly, and the market did not fare well in the period.
In addition to the above factors, even the sales in the automobile sector took a massive hit. Because of even this reason, the sales of automotive radiator fans declined.
The automotive radiator fan market can be classified based on fan type, fit, material, vehicle, sales, and region.
The automotive radiator fan market is divided into mechanical and electrical fans based on fans. The electrical fan is expected to grow as all the present-day vehicles use electrical fans.
The automotive radiator fan market is divided into direct fit and universal fit based on fit type. The natural fit segment has a more significant market share, and this share is only expected to grow further in the future.
The automotive radiator fan market is divided into steel, aluminum, and composite based on material. The steel segment has the highest market share and is only expected to grow during the forecast period, owing to various benefits.
The radiator fan market is divided into passenger cars, commercial cars, and electric vehicles based on vehicle type. Based on the projections, the passenger car segment is expected to register maximum growth.
But we can't ignore the way the electric vehicle segment is growing. So, the passenger car segment is closely followed by the electric vehicle segment.
The automotive radiator fan market is divided into OEM and aftermarket based on sales channel type. The OEM segment is projected to grow faster during the forecast period.
Based on region, the automotive radiator fan market is divided into North America, Europe, Asia-Pacific, and the rest of the world. In Asia-Pacific, there has been a continuous rise in vehicle manufacturing, driving the sales of automotive radiator fans in the region.
North America is set to be the second-largest region after Asia-Pacific in terms of market share.
Before the covid pandemic started, there was a year-on-year increase in the manufacture and production of vehicles globally. However, experts believe vehicle manufacturing will only increase after things start normally. With the increase in vehicle manufacturing, the demand for automotive radiator fans is only expected to increase.
Moreover, with the norms related to the environment and climate getting stricter, there has been a considerable increase in the production of electric vehicles. So, along with passenger vehicles, when the production of electric vehicles increases, the demand for automotive radiator fans will increase further.
Moreover, the carmakers are now focusing on reducing diesel and petrol motors and improving the engine cooling systems. Over here, the automotive radiator fan would have immense potential for further growth, which could further fuel the sales of the automotive radiator fan.
From the customers' point of view, there has been an increase in the demand for vehicles offering high performance at an affordable cost, using lightweight, noiseless automotive radiator fans. Apart from that, owing to their compact size and noiseless performance, the automotive radiator fan is also used in racing and other high-performance cars.
There has been a considerable amount of Research and Development work in the automobile and the automotive radiator fan market. The research-based activities are carried out to find newer ways to improve aerodynamics, reduce the operating temperature, etc.
So, these research-based activities could show new means of using the radiator fan, thereby creating more demands shortly.
The target audience includes:
The leading automotive radiator fan market players include
1. What is the expected CAGR over the forecast period: 2022 to 2030?
Ans- The expected CAGR over the forecast period: 2022 to 2030 is 4.2%.
2. Which is the most commonly preferred material in manufacturing automotive radiator fans?
Ans- Steel is the most commonly preferred material in manufacturing automotive radiator fans.
3. Which region is expected to be the largest market for automotive radiator fans?
Ans- Based on the regional analysis, Asia-Pacific is the largest market for automotive radiator fans.
4. What is the future of the automotive radiator fan market?
Ans- The automotive radiator fan market has a promising future. The reason is because of the strict regulations, customers preferring noiseless vehicles, and the compact size of the radiator fans.
5. What are the different types of automotive radiator fans?
Ans- The different types of automotive radiator fans are electric and mechanical fans.
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