Automotive Engine Oil Cooler Market to Grow by 2.66 Million Units During 2021-2025|8.82% Year-over-Year Growth in 2021|Technavio
NEW YORK, March 30, 2021 --
The automotive engine oil cooler market is expected to grow by 2.66 million units during 2021-2025, expanding at a CAGR of almost 10%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Automotive Engine Oil Cooler Market: Increasing demand for fuel-efficient vehicles to drive growth
Heat exchangers used for cooling oil ensure a balanced thermal cycle for lubricating oils in the engine. Engine oil cooler provides a better thermal balance of engine oil than a radiator system. Also, engine oil coolers are lightweight, high-performance, and compact and provide high-value cooling independent of the design or material. Globally, there are no stringent government regulations for mandating fuel economy in vehicles. Hence, engine oil coolers will be beneficial for those customers that are looking for fuel efficiency, particularly in the high-torque pulling and long-distance travel category. So, we expect that the engine oil cooler market will see a healthy growth rate during the forecast period.
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As per Technavio, the growth in high-performance vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Automotive Engine Oil Cooler Market: Growth in high-performance vehicles
An engine oil cooler is commonly used in the cooling operations of high-performance automotive engines. Engine oil coolers are also used by off-road automotive and vehicles, which are used mostly in hot climates. Improving infrastructure, rising urbanization, and mining activities have a direct impact on the demand for high-performance trucks. Enhanced performance, driver comfort, and safety in high-performance vehicles are the key trends observed. Racing cars use engine oil cooler to further enhancing the performance of cars. An engine oil cooler plays a very important role in the smooth operations of these high-performance engines in a vehicle by dissipating heat. Therefore, the market is evolving with sophisticated new designs of the engine oil cooler to improve the efficiency of the engine.
"The rising demand for commercial vehicles and capital spending will further boost market growth during the forecast period", says a senior analyst at Technavio.
Automotive Engine Oil Cooler Market: Major Vendors
- AKG Verwaltungsgesellschaft mbH
- Dana Inc.
- Fluidyne Control Systems Pvt. Ltd.
- MAHLE GmbH
- Modine Manufacturing Co.
Automotive Engine Oil Cooler Market: Segmentation Analysis
This market research report segments the automotive engine oil cooler market by type (Commercial vehicles and Passenger vehicles) and geography (North America, APAC, Europe, MEA, and South America).
The North America region led the automotive engine oil cooler market in 2021, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as increased engine downsizing leads to the requirement of engine cooling systems.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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