Asia to remain largest auto radiator market

According to a new market report published by Lucintel, the global automotive radiator market is expected to reach an estimated $12,833 million by 2021. The global automotive radiator market is forecast to grow at a CAGR of 5.0% by value from 2016 to 2021. The major driver of growth for this market is increase in the production of passenger car and light commercial vehicles.

Asia Pacific is expected to remain the largest market due to high vehicle production, improvement in the economic conditions and increasing investment by the market players within the APAC region. APAC and Rest of the World are expected to witness significant growth over the forecast period because of increase in the passenger car and light commercial vehicle production in China and Brazil.

In this market, aluminum and copper/brass are two segments by material type and passenger car, light commercial vehicle, and heavy commercial vehicle are some of the major segments of automotive radiator by vehicle type. On the basis of its comprehensive research, Lucintel forecasts that the passenger car and heavy commercial vehicle segments are expected to show above average growth during the forecast period. 

Within the global automotive radiator market, the passenger car segment is expected to remain as the largest market. Increase in passenger car production is expected to spur growth for this segment over the forecast period.