Automotive Radiator Market Size, Share, Industry, Forecast and outlook (2024-2031)

Market Overview

Global Automotive Radiator Market is estimated to grow at a CAGR of 4.7% during the forecast period 2024-2031

With the consistently developing interest for sales and vehicle production of numerous automakers globally, the size of the automotive radiator market is expected to expand .steadily for many years to come. Radiators are heat exchangers utilized for cooling internal combustion engines, mainly in automobiles and piston-engine aircraft, railway locomotives, motorcycles, stationary generating plants, or similar use of an engine. Internal combustion engines are cooled by circulating a fluid called engine coolant through the engine block, where it is heated, and then through a radiator where it loses all of its warmth to the air and is then returned to the engine. Engine coolant is usually water-based, yet may likewise be oil. A water pump is utilized to force the engine coolant to circulate and an axial fan to force air through the radiator. In vehicles and bikes with a liquid-cooled internal combustion engine, a radiator is associated with channels going through the engine and cylinder head. A fluid (coolant) is pumped. Automobile radiators are built using pair of metal or plastic header tanks, connected by a core with many passageways, giving a high surface region relative to volume. This center is generally made of stacked layers of metal sheet, pressed to form channels, and soldered or brazed together. Earlier radiators were produced using metal or copper cores soldered to brass headers. Currently, radiators have aluminum cores that save money and weight by utilizing plastic headers with gaskets.

The liquid that moves through your radiator (called coolant) is the soul of the cooling framework. It is a precise mix of water and an additive (antifreeze) suggested for use in your vehicle. The coolant level should be checked consistently. Coolant degrades with use and periodically needs to be replaced. To avoid the troublesome issue of your vehicle overheating, radiators need to be maintained regularly. The use of radiators in vehicles is highly significant. The radiator is an essential component of the engine’s cooling system. It plays a vital role in keeping the engine temperature at an optimal level as set by the vehicle manufacturer, thereby ensuring the safety of the vehicle and passengers.

Market Summary

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Market Dynamics

The emerging markets drive the global automotive radiator market growth, and massive investment in research and development are the factors responsible for the growth of this market. Moreover, increased vehicle production is expected to drive the market.

The increasing rate of vehicle production is likely to favor market growth during the forecast period

The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is among the world's largest industries by revenue. The increasing pollution is a critical factor for the growth of the automotive industry. The worldwide number of vehicles on the road will almost double by 2040, as indicated by a report from research house Bernstein. Vehicles are projected to cross the two billion mark by 2040. Bernstein said it anticipates that most of this transport growth should occur in developing countries like China and India. The worldwide population is expected to rise by two billion over the following 25 years, summing nearly up to 9.2 billion. Growing GDP in these regions will increase their demand. While this growth looks large, the report notes that demand in the US and Europe will fall as both regions reached their peak oil ten years ago in 2005. It is expected that nearly 110 million vehicles will be produced by 2025, with Asia among the hottest market in passenger vehicle production.  In China, the Qinghai region must turn into a significant maker of traveler vehicles, offsetting trailing growth in more mature markets like Beijing and Shanghai. Considering the increasing population levels and increasing affluence in emerging markets, worldwide vehicle production is projected to surpass the 100 million units mark soon. According to a report by Statista, China was the top light vehicle-producing country in 2020. Domestic manufacturers like SAIC, Changan, Dongfeng, Geely, and BAIC - which are in a joint adventure with Daimler - are acquiring market share; joint endeavors with foreign partners are the way to China's prosperity as a leading vehicle producer, both in the traveler vehicle and the truck section. Japan, Germany, India, and South Korea are also among the world's biggest vehicle manufacturers. A large portion of these nations is home to significant producers of traveler vehicles. The leading vehicle manufacturers overall incorporate Germany's Volkswagen Group and the Japanese automaker Toyota Motor Corporation.

Rusting issue and the high maintenance cost of a radiator is likely to hinder market growth during the forecast period

Rust is a generally greater reason for a radiator to fail over time. Rusting is caused by various chemical reactions; salt and humidity are other factors. When rust begins to shape, it will gradually diminish the radiator's abilities until it finally breaks down completely. You will see a steady increment after some time in the temperature of your engine.  When the flow of the coolant becomes too restricted at some points, the engine will not function properly as it will always be overheated. It is the case of overheating.   Faulty epoxy and solders are often reasons for a radiator’s failure. There are two different types of corrosion in the cooling system, natural and electrochemical.

An example of natural corrosion would be the rotting of the radiator fins. Cooling system electrochemical corrosion has two forms, galvanic and electrolysis. Galvanic corrosion is caused by the chemical reaction between dissimilar metals and does not require an outside voltage source. Electrolysis, on the other hand, requires an outside potential voltage source. The higher the conductivity of the coolant, the greater the amount of electrochemical corrosion will be evident. If the vehicle's negative ground connections are loose, corroded, or missing, the electrolysis will be more severe. The electrical charge in the cooling system results from several different sources. Static electricity is created by the friction of the coolant and water solution against two different metal surfaces (cast iron and aluminum). The engine block on many of today's vehicles is used as the negative electrical circuit for many vehicle systems. This causes an electrical current to flow through it.

The water in the coolant solution captures the voltage charge. With all the sensors, the engine management system, computers, and fuel injectors also contribute to the cooling systems becoming electrically charged. As the corrosion inhibitors in the coolant wear out, they can no longer protect the cooling system components. As the coolant changes from an alkaline solution to an acidic solution, electrolysis begins to corrode engine and cooling system components. Long-Life Organic Acid Technology (OAT) and Hybrid Organic Acid Technology (HOAT) coolants should be changed at the recommended manufacturer's intervals. The general rule of thumb is five years or 160,000 km. (100,000 miles) whichever comes first.

Market Segment Analysis

By design, the market is segmented into Down-flow radiators and Cross-flow radiators. By type, the market is segmented into Tubular and Cellular.  By component, the market is segmented into Cooling fans, Water Pump, Thermostat, and Radiator Cap. By material, the market is segmented into Copper, Brass, Aluminium, and others. By coolant, the market is segmented into Inorganic Acid Technology Coolant, Organic Acid Technology Coolant, and Hybrid Organic Acid Technology Coolant.

The use of aluminum in manufacturing the automotive radiator is likely to grow at a rapid rate during the forecast period

Aluminum has been used for manufacturing automobiles for a long time. The main reason for using aluminum in the automotive industry is its lightweight, strength, flexibility, malleability, conductivity, and high corrosion resistance. Aluminum is nearly 10% to 40% lighter than steel. Aluminum can retain twice as much energy in an accident as the same load of steel. Almost 90% of auto aluminum scrap is recycled and reused. Reusing 1 ton of aluminum saves energy comparable to 21 barrels of oil. Utilizing aluminum in automobile production gives 20 percent lesser CO2 emissions. The Aluminium Association's report The Element of Sustainability found that replacing a fleet of steel vehicles with aluminum vehicles can save 108 million barrels of crude oil and avoid 44 million tons of CO2 emissions.  Vehicles with aluminum components can be nearly  24 percent lighter than those with steel components saving 0.7 gallons of fuel per 100 miles, saving 15 percent fuel consumption over steel vehicles. Aluminum radiators can provide over 50% more cooling and are often considerably lighter than traditional copper and brass radiator construction. The primary factor with an alloy radiator is highly efficient heat rejection and weight over longevity.

Market Geographical Share

The Asia Pacific is expected to witness the fastest-growing automotive radiator market due to the increased vehicle production across the region.  The increasing pollution is a crucial factor in the growth of the automotive industry. The rising population in developing countries such as China, and India and speedy technological implementations are expected to boost the Automotive Seat market growth during the forecast period. With a production volume of around 21 million passenger vehicles, China is positioned first among nations with the largest producer of passenger vehicles. It is trailed by Japan, Germany, the United States, and South Korea - home to significant vehicle brands worldwide. On average, every fourth passenger vehicle produced in the world was produced in China. Beijing and Guangdong are the cities with the highest vehicle production, amounting to 4.6 million units in 2019. Increased vehicle production and many key players in the region contribute towards making the Asia Pacific an ideal place to witness the highest market growth during the forecast period.

North America also dominates the market for Automotive radiators due to the growing demand in the automotive industry. The U.S. dominates the market in this region due to the increasing demand for the automobile industry. According to a report by Statista in 2020, North American vehicle manufacturers’ assembled approximately 3.2 million passenger cars, with the United States being the largest producer across the region with 1.9 million units. The auto industries in the United States, Canada, and Mexico delivered around 13.4 million vehicles in 2020, with Mexico representing around one-fourth of the North American production volume.

Companies and Competitive Landscape

The Automotive Radiator market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream applications. BEHR Automotive, DENSO, Delphi Technologies, Valeo, Calsonic Kansei, Nissens, GriffinRad, TYC,  NRF,  Apollo Radiators, and Quinn Radiators are the major player in the sensors market. The significant players are embracing a few development procedures, for example, product launches, collaborations, and coordinated efforts, adding to becoming the automotive Radiator market globally.

Nissens

Nissens has been a Radiator provider and supplier of various cooling answers for the car industry since 1921. Today Nissens remains as of the greatest European makers and an acknowledged OE and aftermarket provider of various climate control systems and engine cooling parts. Nissens offers a huge item portfolio that includes more than 12,000 items and constant development yearly. According to ISO 9001 / ISO 13001 and TS 16949 standards, the company is a certified manufacturer. Clients can be certain that each Nissens radiator you are going to buy fulfills the highly established standards. Nissens Radiators guarantee the expanded existence of the vehicle's motor to where the part is applied by keeping the cooling framework in top condition. It includes simple establishment because of the ideal completion and item fitment. Additionally, Nissens radiators have a highly competitive product range of 3000+ models covering 12,900+ OE numbers.