Automotive Engine Cooling Systems Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Engine Cooling Systems Market Report Overview
The automotive engine cooling systems market size was estimated at 76.6 million units in 2023. The emergence of electric vehicles will lead the market to grow at a negative CAGR of more than 1% during 2023-2028. Asia-Pacific leads the global engine cooling systems market with a significant share.
Automotive Engine Cooling Systems Market Outlook 2023-2028 (Million Units)
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The automotive electric vehicles market report provides a comprehensive overview of the automotive engine cooling systems market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers. Furthermore, the report evaluates strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across sectors, regions, countries, and top applicants.
Market Size (2023) | 76.6 million units |
CAGR (2023-2028) | <(1)% |
Key Segments | · OE Radiators |
Key Regions | · Asia-Pacific
· Europe · North America · South America · MEA |
Key Companies | · Mahle (inc Behr & Delphi)
· Hanon Systems · Valeo · Denso · Calsonic Kensei / Marelli · Modine · Others |
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Automotive Engine Cooling Systems Market Trends
The key trends shaping the automotive electric vehicles industry are modern cooling systems’ focus on powertrain efficiency and nanofluids replacing conventional combustion engine coolants.
Modern Cooling Systems Focus on Powertrain Efficiency Rather than Just Cooling:
Engine cooling system technology has witnessed very few advancements since the introduction of basic thermo-siphon systems. The thermo-siphon system circulates coolant by allowing thermally expanded coolant to climb from the hot engine into the header tank of a vertical-core brass radiator.
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Automotive Engine Cooling Systems Market Segmentation by Region
In 2023, Asia-Pacific emerged as the largest regional segment of the engine cooling systems market.
The key regions in the engine cooling systems market are Asia-Pacific, Europe, North America, South America, and MEA. The engine cooling systems market in the Asia Pacific region has been performing exceptionally well in recent years. The growing industrial sector in countries like China and India has increased the demand for commercial vehicles.
Automotive Engine Cooling Systems Market Analysis by Region, 2023 (%)
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Automotive Engine Cooling Systems Market – Competitive Landscape
In 2021, Mahle and Denso were the market leaders for engine cooling systems.
The leading companies in the engine cooling systems market are:
- Mahle (inc Behr & Delphi)
- Hanon Systems
- Valeo
- Denso
- Calsonic Kensei / Marelli
- Modine
- Others
In September 2021, Mahle introduced a new battery cooling system. Immersion cooling is a critical technology for the supplier since cooling is a huge challenge, especially for battery-powered electric automobiles that can charge quickly.
The company has also taken a few strategic actions to aid the growth of the automotive engine cooling systems market. For instance, Mahle Powertrain opened two new facilities in Northampton in July 2022. These facilities will provide the testing capability that the automotive industry urgently needs as it accelerates its shift to decarbonized propulsion.
Automotive Engine Cooling Systems Market Analysis by Companies, 2021 (%)
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Automotive Engine Cooling Systems Market Segmentation by Sectors
The engine cooling systems operate in just one segment named the OE radiators. The segment, however, is expected to grow at a negative CAGR during the forecast period.
Automotive Engine Cooling Systems Market – Latest Developments
A few of the latest developments in the automotive engine cooling systems market are as follows:
- In June 2023, the THF radiator, created in partnership with Denso and intended for hybrid cars, was introduced by Subros Limited.
- In April 2023, Modine launched a new EVantage fuel cell stack cooling package for commercial zero-emission vehicles. A proprietary predictive cooling process using an intelligent algorithm that predicts and minimizes temperature swings at the fuel cell stack, extending vehicle range while maximizing longevity.
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Key Segments Covered in this Report.
Automotive Engine Cooling Systems Sector Outlook (Volume, Million Units, 2018-2028)
- OE radiators
Automotive Engine Cooling Systems Regional Outlook (Volume, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
It includes an analysis of the following –
- Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2017–2026, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across -Asia-Pacific, Europe, MEA, North America, and South America-highlighting sector size, and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
- This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.
- The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
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Frequently asked questions
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What was the automotive engine cooling systems market size in 2023?
The automotive engine cooling systems market size was estimated at 76.6 million units in 2023.
-
What will be the CAGR in the automotive engine cooling systems market during 2023-2028?
The automotive engine cooling systems market will register a negative CAGR of more than 1% during 2023-2028.
-
Which was the region garnering the highest engine cooling systems market share in 2023?
Asia-Pacific was the region garnering the highest automotive engine cooling systems market share in 2023.
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Who are the leading engine cooling systems market players?
Mahle (inc Behr & Delphi), Hanon Systems, Valeo, Denso, Calsonic Kensei/Marelli, and Modine among others are some of the leading Engine Cooling Systems market players.
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