Automotive Cooling Fan Market - Snapshot

Cooling fans in vehicles are very important components, which provide constant cooling for various components such as engine and electronics components. They also provide ventilation. An internal combustion engine works at a very high temperature, owing to the combustion of air-fuel mixture. A cooling mechanism is provided by means of a cooling fan in order to operate the engine at a normal working temperature. Generally, two types of cooling mechanisms are utilized in vehicles for engines such as liquid cooling and air cooling. In both systems, cooling fans plays an important role. Similarly, for electrical systems, cooling fans are important. A majority of vehicles are equipped with air conditioning systems, which are fitted with condenser fans for comfort inside the car.

Rising vehicle sales across the globe is anticipated to drive the automotive cooling fan market during the forecast period. Increasing demand for electronic systems in vehicles, rising demand for fuel-efficiency, and high penetration of air conditioning systems are likely to boost the automotive cooling fan market during the forecast period. Electronic systems such as electronic control unit and infotainment system are fitted with fans in order to maintain the temperature of these systems. Rising adoption of electronic systems in modern vehicles is anticipated to drive the automotive cooling fan market in the near future. Developed and developing countries are witnessing an increase in the number of electric vehicles, owing to government initiatives for green transportation and environmental issues. A majority of electric vehicles are equipped with all modern technology and electronic instrument clusters, which require a fan for maintaining temperature and proper functioning of the electronic systems. Considering the factors mentioned above, the electric vehicle segment likely to boost the automotive cooling fan market during the forecast period.

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The global automotive cooling fans market can be segmented based on type, vehicle type, and region. In terms of type, the automotive cooling fans market can be segregated into radiator fans, condenser fans, and others. The radiator fan segment is likely to expand at a rapid pace during the forecast period, as compared to the other segments. A radiator is fitted in every vehicle for cooling purposes, expect battery electric vehicles. Radiators consist of several small chambers through which antifreeze is circulated to cool the surrounding air. Two types of radiator fans are utilized in vehicles: electrically operated and mechanically operated. In passenger vehicles, electrically operated radiator fans are mostly utilized, owing to their advantages such as maximum power and fuel economy, superior efficiency to mechanically operated fans, and no horsepower loss.

Based on vehicle type, the automotive cooling fans market can be split into passenger vehicle, light commercial vehicle, and commercial vehicle. The passenger vehicle segment dominated the automotive cooling fan market. It is expected to dominate the market during the forecast period. Several factors are responsible for the rise in passenger vehicles sales across the globe such as rapid urbanization, increase in per capita income, and decrease in bank interest rates.

In terms of electric vehicle type, the automotive cooling fans market can be classified into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Electric vehicles contain several advanced components for comfort. Furthermore, they contain an electronic instrument cluster, which requires cooling for proper functioning. Therefore, the electric vehicle segment likely to propel the automotive cooling fan market during the forecast period. Battery electric vehicles contain high capacity batteries for propulsion, similarly integration of advance technology through body computer system in battery electric vehicle needs cooling fans. Considering all the factors mentioned above, the rise in demand for battery electric vehicles is likely to boost the automotive cooling fan market during the forecast period.

Some prominent regions considered for the analysis include North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Geographic analysis is done on the basis of production trends, political reforms, regulation changes, and society demand. Asia Pacific dominates the automotive cooling fans market owing to the presence of a prominent automotive industry in China, Japan, and India. Consistent rise in vehicle production across the region is anticipated to boost the automotive cooling fan market in the near future. Rising production as well as sales of electric vehicles in China is fueling the market. The market share held by China is expected to remain high during the forecast period. The automotive cooling fan market in Europe is expanding at a rapid pace owing to the increase in production and sales of electric vehicles in the region.

Key players in the global automotive cooling fan market are expected to benefit from the formation of strategic alliances with global players in the cooling fan system. The market witnesses the presence of key players who have strong global presence and firm establishments, coupled with diverse product portfolios. Prominent players operating in the global automotive cooling fans market include AMETEK.Inc, DENSO CORPORATION, Flexxaire Inc., Horton Holding, Inc., Multi-Wing America, Inc., SPAL Automotive, Sunonwealth Electric Machine Industry Co. Ltd, Valeo SA, and TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION.

Automotive Cooling Fan Market - Overview

This report analyzes and forecasts the market for automotive cooling fan at the global and regional level. The market has been forecast, based on revenue (in US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global automotive cooling fan market. It also covers the impact of these drivers and restraints on the demand for cooling fans during the forecast period. Furthermore, the report highlights opportunities in the automotive cooling fan market at the global and regional level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive cooling fan market. The Porter’s Five Forces model for the automotive cooling fan market has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global automotive cooling fan market for vehicles by segmenting it in terms of type, electric vehicle type, vehicle type, sales channel, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive cooling fans in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.

The study includes profiles of major companies operating in the global automotive cooling fan market. Key players operating in the automotive cooling fan market include AMETEK. Inc, DENSO CORPORATION, Flexxaire Inc., Horton Holding, Inc., Multi-Wing America, Inc., SPAL Automotive, Sunonwealth Electric Machine Industry Co. Ltd, Valeo SA, and TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION. Market players have been profiled in terms of attributes, such as company overview, financial overview, business strategies, recent developments, and manufacturing footprints. The market for automotive cooling fan is primarily driven by the rising demand for vehicles across the globe and enhancing vehicle electrification.

The report provides the estimated market size of automotive cooling fan for 2017 and forecast for the next nine years. The global market size of automotive cooling fan has been provided in terms of revenue and volume. Market numbers have been estimated based on key type, electric vehicle type, vehicle type, and sales channel for regional segments of the automotive cooling fan market. Market size and forecast for each major type, electrical vehicle type, and vehicle type have been provided in terms of global and regional/country markets.

In order to compile the research report, we have conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We have reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search on recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be a reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources typically referred to include, but are not limited to, company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organization International des Constructeurs d'Automobile (OICA), Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, linked-in interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We have conducted primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, market outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The automotive cooling fan market has been segmented as follows:

  • Global Automotive Cooling Fan, by Type 
    • Radiator Fan
      • Electric Fan
      • Mechanical Fan
    • Condenser Fan
    • Heat / ventilation Fan
  • Global Automotive Cooling Fan, by Electric Vehicle Type
    • Battery electric Vehicle
    • Hybrid Electric Vehicle
    • Plug In Hybrid Vehicle
  • Global Automotive Cooling Fan, by Vehicle type
    • Passenger Vehicle type
    • Commercial Vehicle type
  • Global Automotive Cooling Fan, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • Italy
      • France
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
.