Off-Road Vehicles Cooling Fan Market - Snapshot

Proper airflow in off-road vehicles is necessary in order to maintain the temperature of the engine of the vehicle. In off-road vehicles, significant amount of cooling is required for various applications such as engine, transmission, and HVAC system. Thermal efficiency of the various applications, such as transmission, engine, and HVAC system, directly impact the fuel economy, performance, and comfort of the off-road vehicle. Off road vehicle engines generate high amount of power with higher heat rejection, which requires a proper cooling fan.

Top manufacturers of agriculture and construction vehicles are focused to comply with increasingly stringent emission norms, which have been set by government regulatory bodies. Manufacturers are emphasizing on the reduction of NOx, particulate filters, diesel particulate filters, and catalytic reduction in order to meet stringent emission norms. This, in turn, is fuelling the demand for engine cooling, which is likely to propel the demand for cooling fans for off-road vehicles during the forecast period. Rise in demand for comfort in off-road vehicles, such as installation of air conditioning system in order to reduce stress on vehicle operator, is likely to boost the demand for cooling fan during the forecast period. Furthermore, fuel efficiency, stringent emission norms, and increase in sale of off-road vehicles, such as agriculture and construction vehicles across the globe, are likely to drive the off-road vehicles cooling fan market. Rapid urbanization in developing countries is anticipated to boost industrialization and the construction industry, which is anticipated to drive sales of off-road vehicles during the forecast period. This, in turn, is projected to fuel the demand for cooling fan during the forecast period.

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The global off-road vehicles cooling fan market has been segmented based on type, cover type, application, sales channel, and region. In terms of type, the market has been classified into radiator fans and HAVC system. Demand for high power off-road vehicles to carry out off-road activities, such as agricultural activities and constructional activities, is likely to boost the sales of off-road vehicles. Moreover, stringent emission norms and rise in demand for fuel-efficient vehicles are anticipated to boost the demand for cooling fan during the forecast period.

Based on application, the off-road vehicles cooling fan market has been segregated into agriculture vehicle and construction vehicle. Expansion of the agriculture sector is likely to increase investment opportunities in agricultural equipment. Furthermore, high rate of adoption of technologically advanced agricultural equipment is likely to boost the sales of agriculture vehicle, which in turn is anticipated to drive the off-road vehicles cooling fan market during the forecast period. Likewise, rapid industrialization across developing regions is projected to boost the demand for construction vehicles, which in turn is anticipated to propel the off-road vehicles cooling fan market during the forecast period. For off-road vehicles, especially for agriculture and construction vehicles, governments across the globe have enacted emission norms, which in turn have prompted OEMs to develop nontraditional engine cooling systems. Various off-road vehicle manufacturers are providing electric cooling fan systems for off-road vehicles, which is anticipated to drive the off-road vehicles cooling fan market during the forecast period.

In terms of cover type, the market has been classified into solid, clutch, and flex. The solid segment holds a major share of the market owing to its advantages such simple design, easy installation, low maintenance, and cost-effectiveness. However, the clutch fan is gaining popularity among off-road vehicle manufacturers owing to its characteristics, which is positively impacting the fuel-efficiency of the vehicle. This, in turn, is anticipated to propel the cultch segment at a significant rate during the forecast period.

Key regions considered for the analysis include North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Geographical analysis has been done on the basis of political reforms, production trends, regulation changes and society demand. Asia Pacific is likely to hold a major share of the global market due to significant expansion of infrastructure and commercial property market in China and India. Rapid industrialization, presence of several automotive hubs, and gradual expansion of economies are likely to propel the sales of construction vehicles. Increased financial support from various schemes by governments for the agriculture sector are expected to fuel the demand for agriculture equipment significantly. This, in turn, is anticipated to drive the off-road vehicles cooling fan market during the forecast period.

Key companies in the global off-road vehicles cooling fan market are expected to benefit from the formation of strategic associations with global players manufacturing cooling fan systems. The market witnesses the existence of major players who have strong global presence and firm establishments, together with diverse product portfolios. Prominent players operating in the global off-road vehicles cooling fan market include AMETEK. Inc, DENSO CORPORATION, Horton Holding, Inc., Multi-Wing America, Inc., Sunonwealth Electric Machine Industry Co. Ltd, YILI TECHNOLOGIES, Bergstrom Climate Control. Systems, and AVID Technology Limited., Flexxaire Inc., Valeo SA, SPAL Automotive, and TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION.

This report analyzes and forecasts the market for automotive off-road vehicle cooling fan at the global and regional level. The market has been forecasted, based on revenue (in US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global automotive off-road vehicle 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 Off-Road Vehicles 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 off-road vehicle cooling fan market. The Porter’s Five Forces model for the Off-Road Vehicles Cooling Fan Market has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, where in all segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global Off-Road Vehicles Cooling Fan Market for vehicles by segmenting it in terms of type, cover type, application, 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 off-road vehicle cooling fan market. Key players operating in the Off-Road Vehicles Cooling Fan Market include Horton Holding, Inc., YILI TECHNOLOGIES, DENSO CORPORATION, Flexxaire Inc., Multi-Wing America, Inc., SPAL Automotive, Valeo SA, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Bergstrom Climate Control Systems, AMETEK. Inc, Sunonwealth Electric Machine Industry Co. Ltd, and AVID Technology Limited. 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 off-road vehicle cooling fan is primarily driven by the rising demand for vehicles across the globe and increasing vehicle electrification.

The report provides the estimated market size of the automotive off-road vehicle cooling fan for 2017 and forecast for the next nine years. The global market size has been provided in terms of revenue and volume. Market numbers have been estimated based on key type, cover type, application, and sales channel for regional segments of the automotive off-road vehicle cooling fan market. Market size and forecast for each major type, application, and cover 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 global Off-Road Vehicles Cooling Fan Market has been segmented as follows:

  • Global Off-road Vehicles Cooling Fan Market, by Type
    • Radiator Fan
      • Electric Fan
      • Mechanical Fan
    • HVAC System
  • Global Off-road Vehicles Cooling Fan Market, by Cover Type
    • Solid
    • Flex
    • Clutch
  • Global Off-road Vehicles Cooling Fan Market, by Sales Channel
    • OEM
    • Aftermarket
  • Global Off-road Vehicles Cooling Fan Market, by Application
    • Off Road Vehicle
      • Construction Vehicle
      • Agriculture Vehicle
  • Global Off-road Vehicles Cooling Fan Market, 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
.