The automotive radiator market has been segmented by product into cross flow radiators and down flow radiators. Among these segments, the down flow radiator segment is envisioned to be the leading segment during the forecast period and is anticipated to capture more than 50% share of the global radiator market owing to growing replacement of radiators in old vehicles across the globe. Further, in terms of material, the growing use of aluminum radiators in modern cars is a major factor which is likely to fuel the demand for aluminum radiators in upcoming years.
The global market is expanding on the back of growing automotive market and is expected to reach at a valuation of USD 14.2 Billion by the end of 2024 by expanding at a compound annual growth rate of 4.5% over the forecast period. Further, the rising demand for duplex heat exchanger coupled with increasing number of automobiles is expected to fuel the growth of automotive radiator market with noteworthy revenue by the end of 2024.
In the regional segment, Asia Pacific accounted for the largest market of automotive radiator by being the leading producer of automobiles and by holding the major market for original equipment of manufactured automotive radiator.