Global Automotive Engine Cooling System Market Size By Type (Air-Cooled Engine And Liquid Cooled Engine), By Application (Passenger Vehicle And Commercial Vehicle), By Geographic Scope And Forecast

Automotive Engine Cooling System Market Size And Forecast

Automotive Engine Cooling System Market size was valued at USD 24.2 Billion in 2023 and is projected to reach USD 36.8 Billion by 2030, growing at a CAGR of 3.5% during the forecasted period 2024 to 2030.

Automotive Engine Cooling System Market is gaining pace due to rising demand for passenger vehicles coupled with technological advancement in cooling systems. The Global Automotive Engine Cooling System Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Engine Cooling System Market Definition

An engine generates a lot of heat when operating; therefore, it has to be cooled to protect the motor and other parts. The gasoline is consumed during a power stroke, producing tremendous heat that boosts the vehicle’s heat. Excessive heat can harm the engine and its surrounding parts if not adequately dispersed. Hence, an engine cooling mechanism is required.

The Automobile Engine Coolant Equipment is a crucial component of the car that regulates the engine’s heat by utilizing fluid or airflow to eliminate extra heat. An effective cooling system permits the engine to function better, delivering higher efficiency and performance to automobiles. The cooling system comprises several parts that allow fluid coolant to circulate into the engine compartment and head’s channels and remove burning heat. The heated liquid would then pass through a radiator for cooling via a rubber tube. An air stream cools the hot liquid entering the radiator via the little pipes.

A standard automobiles cooling system consists of several streams drilled into the engine compartment and cylinder head that encircle the combustor with moving water or another coolant to eliminate extra heat, a radiator made of numerous tiny tubes covered in a honeycomb of propellers to dissipate heat quickly, that’s utilized to cool heated engine oil, a rotating water pump used to disperse coolant, as well as a thermostat that regulates heat.

Modern internal gasoline motors employ both fluid and air cooling, but some engines also use either or the other to eliminate excess heat. The system is lightweight and straightforward since air from the environment is used to cool particular functions or compact motors. In contrast, the heat transmitted from a closed water circuit cools the radiator in some engines.

Global Automotive Engine Cooling System Market Overview

Compact and noise-canceling automobile engine cooling units will be in significant demand due to rising vehicle demand and interest in powerful sporting automobiles. Furthermore, strict fuel and pollution regulations will push for fuel-efficient engines, fueling the need for small cooling systems. The industry for motor cooling fans will also see a growth in need owing to an expansion in secondary market sales and aftermarket demand. These factors are expected to drive the Automotive Engine Cooling System Market over the forecast period.

Global demand for hybrid and electric automobiles is on the rise, providing opportunities for the marketplace for automobile engine cooling systems to expand throughout the projected period via the use of ever-more-advanced parts. With government measures, rising research and development operations in motor cooling systems for cars and similar automobiles have opened up prospects for the global industry for these systems to grow. The engine’s effectiveness may be improved by electrification, which also reduces CO2 outputs and the consumption of fossil fuels. Likewise, some county governments have launched programs to boost manufacturing and promote the purchase of electric cars, which is expected to support market growth over the coming years.

The factors driving the rising number of improvements and the need for improved engine cooling systems include ensuring the protection of motor and vehicle efficiency and the growing need for higher fuel economy and vehicle effectiveness. In the following years, it is anticipated that the demand for more modern engine cooling systems with incorporated technology solutions will be driven by the rising demand for automobiles in the Asia-Pacific, particularly in India, China, India, and Japan. Modernizing automobile motor cooling subsystems to enable higher heat rejections in a smaller footprint is another factor fueling the market’s expansion.

Automobile original equipment manufacturers (OEMs) primarily concentrate on shrinking the petrol and diesel motors, making it more difficult for engine cooling solution companies to improve their engine cooling components. It is expensive to replace the vehicle engine cooling components. In addition, the cost of parts like radiators and coolants constantly fluctuates, which is expected to hinder the market over the coming years.

Global Automotive Engine Cooling System Market Segmentation Analysis

The Global Automotive Engine Cooling System Market is Segmented on the basis of Type, Application, And Geography.

Automotive Engine Cooling System Market, By Type

• Air-Cooled Engine
• Liquid Cooled Engine

Based on the Type, the market is split into Air-Cooled Engine and liquid Cooled Engine. The liquid-cooled engine segment dominated the overall industry regarding revenue share in 2021 and is anticipated to grow considerably over the forecast period due t its benefits, such as compact size and better cooling performance. Internal combustion engines in automobiles use liquid coolants to manage heat. By removing the engine’s surplus heat and reducing long-term harm to the motor, the fluid stops the deterioration of the cooling mechanism. Further, key players’ technological advancement in the liquid-cooled engine is expected to create lucrative opportunities for market growth over the coming years.

Automotive Engine Cooling System Market, By Application

• Passenger Vehicle
• Commercial Vehicle

Based on Application, the market is split into Passenger Vehicle and Commercial Vehicle. The passenger vehicle segment dominated the overall industry in 2021. The increasing demand for passenger vehicles worldwide is expected to drive segment growth over the forecast period. Furthermore, the passenger vehicle industry is being driven by a solid market for crossovers, SUVs, and sedans, which will likely positively impact the automotive coolant industry. The growth of consumer spending power and desires for private transportation propel the industry’s passenger car sector.

Automotive Engine Cooling System Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, The Automotive Engine Cooling System Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Asia Pacific is expected to grow considerably over the forecast period due to the growing automobile industry in countries such as India and China coupled with government stringent regulations and standards in emerging economies. Furthermore, rapid urbanization due to the growing economy is expected to increase the demand for passenger vehicles across the Asia Pacific region, supporting market growth over the coming years.

Key Players

The “Global Automotive Engine Cooling System Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Mahle GmbH, Continental AG, Delphi Automotive LLP, Visteon Corporation, Denso Corporation,Calsonic Kansei Corporation, Schaeffler Group BorgWarner, Sogefi, Valeo SA, and Perkins Engines Company Ltd. and other prominent players.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In August 2022, Global oil maker Valvoline Cummins has unveiled Valvoline Advanced Coolant, a glycol-based full-antifreeze cooling system for automobiles and commercial trucks. According to the manufacturer, the device has OAT technology, which offers a drain interval of up to 5,000 kilometers (5 years) of service life.
• In June 2022, The industrial and automotive provider Schaeffler has revealed that its automotive aftermarket branch has created second-generation thermal managing components that can regulate the coolant temperatures in different cooling circuits as needed.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Automotive Engine Cooling System Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Automotive Engine Cooling System Market gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Research Methodology of Market Research