Automotive Cooling Fan Market Emerging Trends And Strong Application Scope

Transparency Market Research has published a new report titled, “Automotive Cooling Fan Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global automotive cooling fan market is projected to exceed US$ 64 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period.

According to the report, the global automotive cooling fan market is likely to be driven by a range of macroeconomic and industry-specific factors. Europe is expected to be at the forefront of global demand, with the OEM market in the region expanding at a CAGR of about 7% between 2018 and 2026.

Several systems of vehicles such as engine cooling, transmission, and HVAC require a cooling system. The thermal efficiency of these components has a direct impact on the fuel economy, performance, and comfort of a vehicle. The cooling system plays a crucial role in modern vehicles owing to all the parameters mentioned above. The modern trend in the automotive industry toward manufacturing of powerful engines, which generate high heat and require cooling fans, has been rising consistently in recent years. Increase in passenger vehicle sales across the globe is a major factor driving the global automotive cooling fan market. Most OEMs are integrating the latest technologies along with advance electrical systems that require cooling for better performance. Increasing demand for latest technology and the rise in demand for enhanced fuel-efficiency in vehicles are key factors that are likely to boost the automotive cooling fan market during the forecast period.