Automotive Engine Cooling System Market Size, Share and Global Trend By Vehicle Type (Two Wheeler, Passenger Vehicles, Commercial Vehicles), By Engine Type (Air-Cooled Engine, Liquid-Cooled Engine) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Automotive engine cooling system is an integral part of vehicle that maintains the temperature of engine by using air or liquid, in order to remove the excess heat. An efficient cooling system allows engine to perform better, thereby offering a better mileage and power to vehicles. Increase in manufacturing and sales of automotive vehicles is expected to spur the market growth over the forecast period.
Moreover, the smart engine cooling systems are gaining popularity due to various advantages offered, such as increased fuel efficiency, reduced tailpipe emission and less parasitic engine load. According to secondary research, it is estimated that by 2026 approximately more than 30% of vehicles will be equipped with engine cooling system whereas the remaining 70% will cover the hybrid and electric vehicles market.
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Implementation of stringent vehicle emission standard by governments across the globe is leading the manufacturers of cooling systems to improve the performance of these systems, in order to reduce emission of harmful gases such as NOx and CO. Moreover, engine downsizing is emerging as a novel technology in which smaller engines are capable of producing same power and torque as of larger engines that are embedded in compact vehicles, which is spurring the development of advanced engine cooling system modules.
In terms of cooling medium, liquid cooling system is most utilized engine cooling system owing to its compact size and better cooling performance, as it generates comparatively high amount of power than the air cooling engine. Moreover, emergence of multi-fuel engine technology is expected to provide lucrative opportunities to the players operating in this market.
Key Players Covered
Some of the major players in the automotive engine cooling market include Visteon Corporation, Mahle GmbH, BorgWarner, Calsonic Kansei Corporation, Continental AG, Valeo SA, Delphi Automotive LLP, Denso Corporation, Sogefi, Schaeffler Group and Perkins Engines Company Ltd.
SEGMENTATION
SEGMENTATION | DETAILS |
By Vehicle Type | · Two Wheeler · Passenger Vehicles · Commercial Vehicles - Low Commercial Vehicles - Heavy Commercial Vehicles |
By Engine Type | · Air-Cooled Engine · Liquid-Cooled Engine |
By Geography | · North America (USA, Canada and Rest of North America) · Europe (UK, Germany, France, Scandinavia, Italy, Spain and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Argentina, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa) |
Regional Analysis
According to Asia Pacific Vehicle Aftermarket Summit 2017, Bangkok, ASEAN trade bloc is expected to become the world’s sixth largest automotive market over the forecast period. Growing environmental concerns in the emerging economics such as China, Taiwan, India regarding eco-friendly system or CO2 free vehicles have boosted the demand of automotive cooling system in APAC. It is being witnessed that, the European Commission is promoting reduction of CO2 and other greenhouse gases by supporting the manufacturers for technological implements. Moreover, the growing concerns regarding increasing global warming has increased the adoption of these systems.
Key Industry Development
- 23rd May 2019: Denso Corporation, in collaboration with the semiconductor supplier, Hitachi Power Semiconductor Device Ltd. announced that they have developed a high-efficiency diode for alternators for gasoline and diesel engine vehicles.
- 24th January 2019: BorgWarner’s eAxle simplified it’s drive modules to “iDM” (Integrated Drive Module) that are specially developed for power engine systems.
- Ongoing
- 2023
- 2019-2022
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