What Has Been the Progress and Growth of the Automotive Radiator Market in Recent Years?
The automotive radiator market has seen considerable growth due to a variety of factors.
• The market size of automotive radiators has witnessed consistent growth over the past few years. The market, which held a value of $8.15 billion in 2024, is expected to increase to $8.55 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 4.9%.
This historic growth can be credited to factors such as the expansion of the automotive sector, strict emission regulations, heightened consumer awareness, a surge in electric vehicle demand, and focus on using lightweight materials.
How Does the Forecast Look for the Automotive Radiator Market?
The automotive radiator market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for automobile radiators is projected to experience consistent expansion in the coming years, reaching a valuation of $10.13 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.3%.
This growth for the predicted period can be credited to several factors including worldwide urbanization and traffic congestion, the incorporation of intelligent cooling systems, the rise in vehicle manufacturing, a global transition towards eco-friendly mobility, and governmental policies and incentives. Foreseen trends during the predicted period involve strategic alliances and partnerships, breakthroughs in heat exchange materials, continued technological evolution, and global economic situations.
What Are The Leading Drivers Of Growth In The Automotive Radiator Market?
The escalating need for hybrid vehicles is projected to spur the expansion of the automotive radiator market. Hybrid vehicles, which are an amalgamation of at least two distinct power sources, are renowned for enhancing fuel efficiency and limiting emissions. Radiators are instrumental in preserving the efficacy of these hybrid systems, which are notable for their fuel economy and reduced emissions. For instance, data reported by the UK's Society of Motor Manufacturers and Traders (SMMT) in April 2024 indicate a rise of 19.6% in hybrid electric vehicles (HEVs), hitting 44,550 units in 2024, up from 37,252 units. Hence, the mounting need for hybrid vehicles is fuelling the expansion of the automotive radiator market.
Automotive Radiator Market Driver: Rising Demand for Commercial Vehicles Power the Growth of the Automotive Radiator Market
How Are The Segments Defined Within The Global Automotive Radiator Market?
The automotive radiator market covered in this report is segmented –
1) By Product Type: Down-Flow, Cross-Flow
2) By Material Type: Aluminum, Copper Or Brass, Composites
3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Two Wheelers
4) By End Users: Original Equipment Manufacturers (OEMs), After market
Subsegments:
1) By Down-Flow: Single Pass Down-Flow Radiator, Dual Pass Down-Flow Radiator
2) By Cross-Flow: Single Pass Cross-Flow Radiator, Multi Pass Cross-Flow Radiator
Pre-Book The Automotive Radiator Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Automotive Radiator Industry?
Leading players in the automotive radiator industry, such as the Marelli Corporation, are developing innovative solutions like the Integrated Thermal Management Module (iTMM) to secure a strong market position. The iTMM, an amalgamation of water-cooled heat exchangers with a smart valve mechanism, enhances the integration of the vehicle's thermal circuits. For example, in July 2023, the Japan-based auto parts company, Marelli Corporation, introduced their version of the iTMM, specifically designed for electrical vehicles (EVs). This module helps optimize thermal circuits of the vehicle, contributing to overall efficiency. The iTMM provides effective management of the e-powertrain, battery, and cabin thermal systems - simplifying processes and offering improvements in cooling, rapid battery charge, and cabin comfort. When paired with a heat pump, it can also increase driving range by up to 20% under harsh weather conditions. The compact design of iTMM, along with its cost-effectiveness and industry compliance, makes it a significant breakthrough in EV thermal management. The beacon of iTMM in their portfolio showcases Marelli Corporation's prospective growth in the electric car industry.
Who Are the Key Players In The Automotive Radiator Market?
Major companies operating in the automotive radiator market report are:
• BAIC Group
• Denso Corporation
• Valeo S.A.
• Dongfeng Motor Group
• Aptive Environmental LLC
• Visteon Corporation
• Modine Manufacturing Company
• Mahle Behr Manufacturing Management Inc.
• Calsonic Kansei Corporation
• TYC Brother Industrial Co. Ltd.
• Shandong Houfeng Group
• Delphi Automotive PLC
• T. RAD Co. Ltd.
• Nissens A/S
• Banco Products India Ltd.
• Sanden Holdings Corporation
• PWR Performance Products
• Keihin Co. Ltd.
• Sciton Inc.
• Ron Davis Racing Products Inc.
• Mishimoto Automotive
• CSF Radiators
• Zhejiang Yinlun Machinery Co.
• DeWitts Radiator
• Nippon Light Metal Holdings Co. Ltd.
• Griffin Thermal Products
What Is The Most Dominant Region In The Automotive Radiator Market?
North America was the largest region in the automotive radiator market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive radiator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
