The railway radiator market is anticipated to expand at a sub-par CAGR of 4.3% between 2023 and 2033. According to projections, the net worth of the railway radiator market would rise from just US$ 5,757.20 million in 2023 to almost US$ 882.7 million by 2033.
The Roadblocks of the Market for Railway Radiator
The recent worldwide economic slump has had a severe adverse effect on the recent sales of railway radiator. The sales of railway radiator have decreased globally as a result of this economic situation.
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Such economic downturns are expected to have a significant effect on the railway sector over the forecast period, which is expected to have an impact on the railway radiator market soon.
The Railway Radiator Market’s Brightest Potential
Over the projection period, it is predicted that the market for railway radiators would grow quickly as demand for railway heat exchangers increases. An increase in the demand for railway radiators is anticipated to have a substantial impact on the railway radiator market in the near future.
The rising popularity of hybrid powertrains is predicted to be a major factor in the market growth for railway radiators. During the forecast period, the government of various countries is expected to impose strict laws regarding the reduction of carbon emissions from automobiles, which is anticipated to boost market expansion for railway radiators.
Regional Outlook
The market for railway radiator is expected to have substantial expansion during the forecast period due to rising demand in growing regions like Asia Pacific and Central & South America. Due to reasons including a slowing economy and market saturation, developed economies like North America and Europe are predicted to experience a moderate demand for railway radiators.
Strict regulatory standards that disregard environmental concerns, especially in developed regions, are thought to have a favourable effect on local markets.
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Key Takeaways
- During the projection period, the United States market for railway radiators may have a market share of 20.4%.
- The United Kingdom market for railway radiator has a CAGR of 3.6% between 2023 and 2033.
- The China market for railway radiator has a CAGR of 5.2% between 2023 and 2033.
- The India market for railway radiator has a CAGR of 6.6% between 2023 and 2033.
- During the projection period, the German market for railway radiators may have a market share of 5.1%.
- During the projection period, the Japan market for railway radiators likely hold a market share of 5.9%.
- During the forecast period, Australia’s market for railway radiator likely to have a 1.2% market share.
- During the forecasted period, the train type may account for 64.80% of passenger trains in the railway radiator market.
Competitive Landscape
Denso Corporation, Calsonic Kansei Corporation, TYC Brother Industrial Co. Ltd., Valeo SA, Modine Manufacturing Company, Mahle GmbH, Sciton Inc., Keihin Corporation, PWR Advanced Cooling Technology, Griffin Thermal Products, Sanden Holdings Corporation, and Saldana Racing Products are major players in the global railway radiator market.
Recent Developments
- Collaboration
- Valeo, a French-based global railway radiator supplier, and Honda Powerpack Energy Private Limited, an Indian private subsidiary, teamed with Atul Greethtech Pvt Ltd., a firm that makes electric three-wheelers, on June 21, 2022, to accelerate three-wheeler electrification in India.
- Acquisition
- The transaction was finalised in February 2021 with the transfer of Keihin Corporation’s air conditioning activities from Japan, Thailand, and the USA to MAHLE in Stuttgart, Germany.
- Marelli purchased the Calsonic Kansei Corporation in May 2019. The company may be able to expand both the size of its customer base and the quantity of radiators it manufactures.
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Key Segments
By Radiator Type:
- Down-flow
- Multi-flow
- Cross-flow
- Others
By Material Type:
- Aluminium
- Steel
- Brass
- Copper
- Plastic
- Others
By Train Type:
- Freight Train
- Passenger Train
- Diesel Multiple Units
- Electric Train
- Others
By Sales Channel:
- OEMs
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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