The rising deployment of hybrid powertrains is likely to boost development in the automotive radiators industry. Furthermore, governments in various economies are setting rigorous laws to reduce carbon emissions from automobiles, which is expected to fuel development in the automotive radiators market during the forecast period. Growing demand for vehicles in Asia Pacific, Central and South America is likely to support growth in the automotive radiator market during the forecast period
Plastic radiators are commonly utilised in the automobile industry since they are less expensive and lighter. However, if all these plastic radiators are not properly maintained, such as if the tank cracks, the entire unit must be replaced. The replacement of the unit is a time-consuming and expensive job. This may limit the global automotive radiator market's growth.
Coherent Market Insights mentions in its study that the global Automotive Radiator Market was valued at US$ 6,768.7 Mn in 2021 and is expected to reach US$ 11,580.2 Mn by 2030, growing at a CAGR of 5.9% between 2022 and 2030.
Leading Companies in the Automotive Radiator Industry:
1. Denso Corporation
Toyota, Honda, FCA, General Motors, Ford, Volvo, and Mercedes-Benz, are some of the global automakers, that use technology and components from DENSO. It is headquartered at Kariya, Aichi, Japan. The company was established in 1949 and has offices globally. DENSO Corporation develops, manufactures, and sells automotive parts in Japan, Asia, North America, Europe, and internationally.
2. Calsonic Kansei Corporation
Calsonic Kansei, a major supplier to Nissan, acquired Magneti Marelli, a major Italian lamp manufacturer, in 2019 and renamed the company Marelli. The main products of the former Calsonic Kansei are cockpit modules/interiors, air conditioning systems, heat exchangers, and compressors. The main products of the former Magneti Marelli are lighting, electronics, and powertrain. The company is headquartered in Saitama, Japan and founded in 25 August, 1938.
3. Mahle GmbH
MAHLE Metal Leve S.A. engages in the research, development, manufacturing, and sale of engine systems and components, filtration, and thermal management products worldwide. MAHLE Metal Leve S.A. was founded in 1920 and is headquartered in Mogi Guaçu, Brazil.
4. Sanden Holdings Corporation
The company was founded in 1943 and is headquartered in Isesaki, Japan. Sanden Corporation is a subsidiary of Hisense Japan Automotive Air-Conditioning Systems Corporation. Sanden Corporation, together with its subsidiaries, manufactures and sells automotive equipment systems in Japan and internationally. On March 1st, 2021, SANDEN Holdings Co., Ltd. signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. By combining SANDEN’s development talent with the Hisense Group’s cutting-edge technology, the company has evolved to provide solutions for Integrated Thermal Management and expected to grow rapidly to achieve a carbon-free society.