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Global Automotive Cooling Fan Market

Global automotive cooling fan market is estimated to propel us$ 64 bn in 2026 in terms of value with a cagr of 4% in the forecasting period 2018 to 2026.Cooling fan s provide constant cooling for various components such as engine and electronics components.They also provide ventilation.It components of the automotive cooling systems to spared heat generated from combustion of an engine.It enable the engine to run at optimum temperature irrespective of the operating conditions.Automotive cooling fan s pull or push the air through the radiator in order to cool the antifreeze for keeping the engine temperature within desired limits.With technological advancements in the automotive industry, the demand of automotive cooling fan s is expected to increase, thus promoting the expected growth of over the assessment period.The current trend in the market is the increasing demand for electric cooling fan s for applications in four-wheelers.A rise in adoption of electronic systems in modern vehicles is anticipated to drive the automotive cooling fan market in the near future.Increase in demand for the latest technology and the rise in demand for enhanced fuel-efficiency in vehicles are key factors that are likely to boost the market during the forecast period.Increase in passenger vehicle sales across the globe is a major factor driving the market.It is segmented into type, electric vehicle type, vehicle type, sales channel, and region.On the basis of type, the radiator plays an important role in cooling the engine.A radiator is heat exchangers that are fitted in every vehicle used for cooling the internal combustion engines, expect battery electric vehicles.In terms of electric vehicle type, hybrid vehicles which have been in the market for more than a decade are expected to play a key role in shaping the market in the near future.Hybrid vehicles have witness a rapid rise in demand in the recent past.Electric vehicles require more fans than normal vehicles owing to the incorporation of batteries and more number of electrical systems in electric vehicles.Based on vehicles, it is divided into passenger vehicle and commercial vehicle.Passenger vehicle segment is anticipated to increase with high cagr due to the rise in disposable income and standard of living of people will boost the demand for a passenger vehicle.In terms of region, the ,market has been segmented into north america, europe, asia pacific, middle east & africa, and latin america.The asia pacific is currently a prominent market for automotive cooling fan market followed by china, japan, and india.The market in europe is expanding at a rapid pace owing to the increase in production and sales of electric vehicles in the region.Some of the key players in the markets are ametek.Inc, denso corporation, flexxaire inc., horton holding, inc., multi-wing america, inc., spal automotive, sunonwealth electric machine industry co.Ltd, valeo sa, and toshiba electronic devices & storage corporation.

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