The global automotive engine cooling system market is segmented into vehicle type such as passenger cars, two wheeler, low commercial vehicle, heavy commercial vehicle. Among these segments, passenger cars segment is expected to grab lion share in the market of automotive engine cooling system by the end of forecast period. The growth of passenger cars segment is backed by a number of factors such as rapid urbanization and changing life style of consumers across the globe. Further, increasing ratio of vehicles per people across the globe is also a major factor which is likely to drive the growth of this segment over the forecast period. According to U.S. department of energy, vehicles per thousand people in the United States reached 816.38 as compared to 807.50 in 2014.
Global automotive engine cooling system market is expected to register a remarkable CAGR over the forecast period. Moreover, the global automotive engine cooling system market is expected to expand on the back of growing automotive industry across all regions.
The Asia Pacific automotive engine cooling system market dominated the overall automotive engine cooling system market in 2016. Furthermore, Asia Pacific automotive engine cooling system market is expected to continue its dominance during the forecast period owing to a number of factors such as swelling disposable income of the consumers and increasing number of vehicles. According to International Organization of Motor Vehicle Manufacturers, China alone produced 24,420,744 cars and 3,698,050 commercial vehicles in 2016. Moreover, high production rate of vehicles in Asian countries is a major factor which is likely to intensify the demand for automotive engine cooling system in Asia Pacific region over the forecast period
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Growing Demand for Increased Engine Efficiency
Factors such as, rising vehicle production and increasing demand for engine with high efficiency are likely to escalate the growth of global automotive engine cooling system market in upcoming years. Further, development of light weight automotive engine cooling system can also bolster the growth of market in future years.
Rapid Urbanization and Changing Life Style
Rapid enhancements in transportation infrastructure and changing life style of consumer are key factors which are augmenting the production of new vehicles across all regions. This factor is expected to bolster the growth of market over the forecast period.
However, factors such as growing rental transportation and consumers preference for public transportation are limiting the production of new vehicles which is likely to inhibit the growth of the automotive engine cooling system market in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive engine cooling system market which includes company profiling of Visteon Corporation, BorgWarner, Calsonic Kansei Corporation, Continental AG, Valeo SA, Delphi Automotive LLP, Denso Corporation, Sogefi, Mahle GmbH, Schaeffler Group and Perkins Engines Company Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive engine cooling system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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