The global automotive powertrain cooling system market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio's latest market research.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180112005610/en/
Technavio has published a new market research report on the global automotive powertrain cooling system market 2017-2021 under their automotive library. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global automotive powertrain cooling system market for 2017-2021. The market is further categorized into two application segments that include passenger cars and commercial vehicles.
Technavio's research analysts segment the global automotive powertrain cooling system market into the following regions:
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
APAC: largest automotive powertrain cooling system market
In 2016, APAC witnessed the maximum growth in terms of employment and household spending. Increased spending capabilities and high purchasing power of the population in APAC were the major factors contributing to the rising sales of passenger cars in APAC. APAC is becoming a major hub for automobile manufacturing and sales due to the abundant supply of raw materials and low-cost market of automobiles and parts. Many global automakers are focusing on either shifting their production bases to APAC or sourcing their raw materials from this region, thereby driving market growth.
"China was the major producer of automotive powertrain cooling systems in the APAC region due to the large population, abundant raw material availability, and growth of local vendors. Increased adoption of internal combustion engine vehicles in APAC is further propelling the growth of the automotive powertrain cooling systems market since 2016," says Keerthi Balu, a lead automotive components research expert from Technavio.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
Automotive powertrain cooling system market in EMEA
The European Union (EU) is a major automotive powertrain cooling systems market in EMEA. The European economy is set to experience inflation, following the recovery from the sovereign debt crisis since 2016. Furthermore, stringent emission norms and fuel efficiency standards followed in the region are expected to drive the production of highly efficient powertrain systems with advanced cooling systems to limit the formation of emissions.
"Apart from the stringent regulations for owning internal combustion engine vehicles, governing bodies of China, European Commission, and the US are supporting the development of the electric vehicle market. Moreover, the European Commission gives tax incentives to buyers in European countries for purchasing electric and hybrid vehicles. The incentives are based on the power rating of the battery and the range of the vehicle," says Keerthi
Automotive powertrain cooling system market in the Americas
Canada, Brazil, Mexico, and the US are the major automotive powertrain cooling system markets in the Americas which is dominated by carburetted engine vehicles. SUVs and crossovers are the most preferred passenger vehicle types in the Americas. These vehicles are equipped with high-capacity engines that produce large amounts of emissions. Thus, these high-powered passenger vehicles are equipped with advanced powertrain cooling systems to maintain optimal engine temperature.
Rising stringency of emission regulations and fuel-efficiency standards are driving vehicle manufacturers to maintain the production of vehicles with bigger engines and advanced powertrain cooling systems. This will help in reducing the formation of emissions.
The top vendors in the global automotive powertrain cooling system market as highlighted in this market research analysis are:
- Johnson Electric
Browse Related Reports:
- Global Automotive Chassis Market 2017-2021
- Global Automotive Batteries Market 2017-2021
- Global Automotive Fuel Injector Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200