Global Automotive Radiators Market to Reach 148.8 Million Units by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on automotive radiators market. Although the prolonged severity of the economic slowdown and depressed automotive industry have elicited decline in volume sales of automotive radiators, the market is nevertheless expected to recover poise in the short to medium term period to reach 148.8 million units by 2015. While growth in the OEM segment will be driven by increase in automobile production, as a result of post recession resurgence in consumer demand for new cars, growth in the aftermarket segment will be driven by increasing average life of vehicles and the resulting need for replacement of worn-out radiators. Growing popularity of aluminum radiators, and rising demand from developing nations, particularly Asia-Pacific, also augur well for the market.

Automotive Radiators: A Global Strategic Business Report

The automobile industry has been one of the worst hit industries by the recession, as the demand for cars witnessed hurting declines, exacerbating the already existing woes of excess production capacities. With vehicle sales nose-diving resulting in plant shutdowns, shockwaves that ripped through the automobile industry was faithfully transmitted to the auto parts and accessories sector. The trickle down impact of the depressing business climate in the automotive industry, on the automotive radiators market is reflected in notable declines in growth rates over the last two years. Factors that have brought down the automotive industry, such as restricted access to credit, rising levels of unemployment, decline in purchasing power, reduction in household wealth, falling consumer confidence, postponement of new car purchases, decline in per capita automobile travel and volatile fuel prices, among others, have also played instrumental roles in dragging down growth in the radiators sub-segment of the auto industry. Radiators for the Original Equipment Manufacturing (OEM) market especially came under the yoke of recession, as sales to this segment plunged drastically as a result of erosions in new automobile sales and fall in production levels.

The aftermarket segment, on the other hand, has had a cushioned fall during the economic crisis. This is primarily because a radiator is a non-discretionary aftermarket automotive replacement part lesser sensitive to broader economic variables. The aftermarket radiators market is buffered because parts and components like radiators, fan belts, exhaust pipes and brake pads are less discretionary spends, since replacement of worn parts is a necessity if the vehicle needs to be kept running. While most aftermarket manufacturers have not witnessed rapid increases in sales, these manufacturers have also not experienced the large-scale declines prevalent in the OEM radiator market.

With recession at its tail end, a quick resurgence in growth fundamentals, such as recovery in GDP growth, employment rates, incomes levels and discretionary incomes, and rise in consumer confidence, is expected to drive increased demand for new cars over the next few years. Stimulus packages offered by governments across the globe will additionally drive increased vehicle production and scheduled development and roll out of new vehicle models, including alternative vehicles. All of these factors translate into increased business opportunities for automotive radiators, especially in the OEM end-use segment. Concurrently, factors such as increase in the number of vehicle miles traveled and a parallel increase in the wear and tear of auto-parts will also drive the radiator market in the after market segment in the post recession era. As the average life of vehicles across the world increases, demand for radiators in the aftermarket segment will invite greater demand. The recent decline in retail sales of new vehicle sales, which has resulted in sharp reduction in the number of cars/vehicles covered within manufacturers' warranty periods, also promises to create increased demand for aftermarket radiator replacements in the immediate short-term.

As stated by the new market research report on automotive radiators, Asia-Pacific represents the largest regional market for automotive radiators. The region is also the fastest growing market, surging at a CAGR of more than 9.0% over the analysis period. Growth in this market is essentially driven by the persistent rise in automobile sales in the region, particularly in developing markets such as China and India. By product, aluminum automotive radiators market represents the largest product segment. Fast paced developments in aluminum industry, and growing usage of aluminum in radiator manufacturing, as a material for superior corrosion resistance has been driving growth in the aluminum radiators market.

Major players in the marketplace include Behr GmbH & Co. KG, Calsonic Kansei Corporation, CSF, Inc., Delphi Corporation, Denso Corporation, Modine Manufacturing Company, Radiadores Ordóñez S.A., Setrab AB, Spectra Premium Industries, Inc., T. RAD Co., Ltd., Valeo S.A., Visteon Corporation, Vista-Pro Automotive, among others.

The research report titled “Automotive Radiators: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in volume sales for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, & Rest of Europe), Asia-Pacific, Latin America and Rest of World. Product segments analyzed include Copper/Brass radiators and Aluminum radiators. Additionally the report also analyses the market by end-use application segments - OEM and Aftermarket.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Automotive_Radiators_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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