– In recent years, the automotive sector has witnessed new waves of advancements and innovations as modern technologies have evolved
– There has been a growing demand for fuel efficient automotive vehicles in recent years which resulted in increased innovations and developments, ultimately fueling the overall development of automotive radiator fan market
ALBANY, New York, June 16, 2020 /PRNewswire/ — TMR has recently published a new research report that provides a detailed information about the overall working dynamics of the global automotive radiator fan market. The research report aims to offer meaningful and actionable insights on the key driving factors, prominent restraints, important market segments, geographical outlook, and the current situation of the vendor landscape.
According to the research report, the global automotive radiator fan market is expected to witness a steady CAGR of 2% over the course of the given forecast period ranging from 2020 to 2030. The market is expected to reach a valuation worth US$1 Bn by the fall of 2030.
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Global Automotive Radiator Fan Market – Key Takeaways
- Based on the type of vehicle, the global automotive radiator fan market is segmented into commercial vehicle, electric vehicle, and passenger vehicle. Of these, the segments of electric vehicle and passenger vehicles are expected to witness a promising rate of growth in the coming years of the forecast period due to rise in production rate. Increasing adoption electric vehicles in emerging as well as developed economies is expected to drive the growth of the segment to newer heights.
- Based on material, the global market for automotive radiator fan is divided into composite, aluminum, and steel. With the growing demand for lightweight automotive vehicles, it is projected that the segments of aluminum and steel are expected to witness a promising growth.
- Based on the type of radiator fan, the global market is segmented into electric and mechanical. It is projected that in the coming years of the forecast period, the segment of electric radiator fan will witness a popular demand.
- In terms of sales channel, the global market is segmented into aftermarket and OEM.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Automotive Radiator Fan Market (Vehicle Type: Passenger Vehicle, Commercial Vehicle, and Electric Vehicle; Material: Steel, Aluminum, and Composite; Radiator Fan Type: Mechanical and Electric; and Sales Channel: OEM and Aftermarket) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2030 at https://www.transparencymarketresearch.com/automotive-radiator-fan-market.html
Global Automotive Radiator Fan Market – Key Driving Factors
- One of the key driving factors for the growth of the global automotive radiator fan market has been the increasing demand for lightweight automotive vehicles. In recent years, due to environmental concerns coupled with growing focus on fuel efficiency, the demand for lightweight vehicles have increased considerably. This has thus led to a positive influence on the demand for aluminum and steel based automotive radiator fans.
- The rise in demand for refrigerated transportation across developing countries is likely to boost the automotive radiator fan market, as a radiator fan is required to provide air flow in order to prevent engine from overheating and improve air condition performance required to transport frozen food. This is expected to boost the automotive radiator fan market across the globe.
Request COVID19 Impact Detailed Analysis on Automotive Radiator Fan Market
Global Automotive Radiator Fan Market – Key Restraining Factors
- The outbreak of Covid-19 has had a considerable impact on the overall development of the global automotive radiator fan market.
- Due to the massive disruptions in the supply chain, the market exports are likely to face a decline in the second and the third quarter of 2020.
Global Automotive Radiator Fan Market – Geographical Segmentation
- There are five key regions of the global automotive radiator fan market viz. North America, Latin America, Middle East and Africa, Asia Pacific, and Europe.
- Of these, currently, the global market is being dominated by the regional segment of Asia Pacific. The region is expected to continue to hold its top position over the course of the given period of forecast.
Analyze Automotive Radiator Fan Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a Sample of the Study
Global Automotive Radiator Fan Market – Key Players
Prominent players operating in the global automotive radiator fan market include AMETEK Inc., Denso Corporation, Valeo SA, FLEXXAIRE, BorgWarner Inc., CalsonicKansei North America Inc., and Delta Radiator Fan Ltd. among others.
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Global Automotive Radiator Fan Market: Segmentation
- Automotive Radiator Fan Market, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
- Automotive Radiator Fan Market, by Material
- Automotive Radiator Fan Market, by Radiator Fan Type
- Automotive Radiator Fan Market, by Sales Channel
- Automotive Radiator Fan Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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