The global automotive radiator fan market to grow at a CAGR of 4.09% during the period 2017-2021.
Global Automotive Radiator Fan Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the sales of automotive radiator fan for PCs, LCVs, and M&HCVs.
According to the report, one of the major drivers for this market is Increased fuel efficiency of automobile. The automotive engine has an ideal operating temperature at which it reaches its optimized efficiency. If the automotive engine is operated at a higher temperature for a short duration, the IC engine heats up, leading to the failure of internal engine components. During the combustion process, heat is released as the product. Excess heat in the engine might cause damage to both the components of the engine and the surrounding parts. It is essential to maintain the temperature of the car’s engine below a certain level. As the automobile operates at extreme conditions, the automotive radiator is designed to ensure that the excess heat generated during the combustion process is disseminated and does not cause the components to fail.
The latest trend gaining momentum in the market is Replacement of mechanical fans with electric radiator fans. The automotive radiator fan is used for maintaining the temperature of the engine at an optimal level to ensure that the operational efficiency of the engine is maximized. A mechanical radiator fan expends a certain amount of power spinning the fan; it causes parasitic horsepower loss, leading to significant performance disadvantages. To overcome the horsepower loss, auto manufacturers are replacing mechanical radiator fans with the electric radiator fans.
Further, the report states that one of the major factors hindering the growth of this market is Rise in demand for EVs. Automotive manufacturers are making continuous efforts to reduce carbon emission by designing and manufacturing vehicles that operate on alternative fuel. The sales of EVs started gaining momentum from 2014. In 2016, various factors affected the sales of EVs. The government played a crucial role in promoting the sales of these vehicles. The global EVs market is flourishing due to various benefits and incentives provided by the government, increased awareness for the