Industry Background:
Automobile fan provide continuous cooling for engine and electronics components and also provide ventilation. An internal combustion engine works at a very high temperature, due to the combustion of air-fuel mixture. A cooling mechanism is provided by means of a cooling fan in order to control the engine at a normal working temperature. Automotive cooling fans allow the engine to run at optimum temperature irrespective of the operating conditions. Automotive Cooling fans pull or push the air through the radiator in order to cool the antifreeze for keeping the engine temperature within desired limits. In order to maintain the engine temperature, front wheel drive cars usually use electric fans which are controlled by engine computer or a thermostatic switch.This growth is primarily driven by Increasing Demand for Electronic Systems in Vehicles
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as DENSO Corporation (Japan), ebm-papst (Germany), Flexxaire Inc. (Canada), Horton Holding, Inc. (United States), Multi-Wing America Inc. (United States), Sunonwealth Electric Machine Industry Co. Ltd (Taiwan), Valeo SA (France), Toshiba Electronic Devices & Storage Corporation (Japan), Continental Automotive GmbH (Germany), AMETEK Rotron (United States), Guangzhou Tech Master Auto Parts Co.Ltd (China) and Johnson Electric (Hong Kong), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2019, DENSO Corporation, the world's second-largest mobility provider, DENSO Sales Japan Corporation, a subsidiary of DENSO Corporation, and DENSO Ten Sales Limited, a subsidiary of DENSO Ten Limited, and DENSO Ten Service Limited merged to form a new company called DENSO Solution Japan Corporation. to establish. As vehicle electrification and automated driving progress rapidly within the automotive industry, DENSO has previously announced several organizational changes to increase its competitiveness.
In March 2022, BURTON, OH, Multi-Wing America released the OPTIMISER 11 Fan Specification App. OPTIMISER 11 is an easy-to-use resource for original equipment engineers to specify the most efficient custom Multi-Wing fan for their application. It is ideal for specifying fans in HVACR (heating, ventilation, air conditioning, and refrigeration) and engine cooling in off-highway equipment and gensets.The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies.
Influencing Trend:
Technological Advancements in Automotive Industry and Gaining Popularity in Racing and High Performance Cars
Market Growth Drivers:
Increasing Demand for Electronic Systems in Vehicles, Rising Demand for High Penetration of Air Conditioning Systems and Increasing Demand of Highly Efficient Engines
Challenges:
Reactivity to Antifreeze Chemicals and Vibration Problems, Higher Power Consumption and High Maintenance Cost of Mechanically Operated Cooling Fans
Restraints:
Initial Cost of Electric Fans is more as Compared to Mechanical Counterpart
Opportunities:
Increasing Demand of Automobile in Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automobile Fan Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automobile Fan Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automobile Fan players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automobile Fan Study Sheds Light on
The Automobile Fan Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automobile Fan industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automobile Fan industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.