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.
Railway Radiator Market’s Brightest Potential
Over the projection period, it is predicted that the market for railway radiators will grow quickly as demand for railway heat exchangers increases. An increase in the demand for railway radiators is anticipated to impact the railway radiator market substantially.
The rising popularity of hybrid powertrains is predicted to be a major factor in the market growth for railway radiators. During the forecast period, various countries’ governments are expected to impose strict laws regarding reducing carbon emissions from automobiles, which is anticipated to boost market expansion for railway radiators.
Roadblocks to Expansion in the Railway Radiator Market
The recent worldwide economic slump has had a severe adverse effect on the recent sales of railway radiators. The sales of railway radiators have decreased globally due to this economic situation.
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Such economic downturns are expected to significantly affect the railway sector over the forecast period, which is expected to impact the railway radiator market soon.
Regional Outlook
The market for railway radiators is expected to substantially expand during the forecast period due to rising demand in growing regions like Asia Pacific and Central & South America. Due to 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 favorable effect on local markets.
“Railway radiators play a crucial role in maintaining locomotive performance,” underscores the research manager, drawing from their recent market research study. “As the railway industry advances, the demand for efficient cooling solutions continues to rise, positioning railway radiators as a vital component for the future of rail transportation.
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 radiators has a CAGR of 3.6% between 2023 and 2033.
- The China market for railway radiators has a CAGR of 5.2% between 2023 and 2033.
- The Indian market for railway radiators 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 Japanese market for railway radiators likely holds a market share of 5.9%.
- During the forecast period, Australia’s market for railway radiators is 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
- ZIEHL-ABEGG, Inc.
- AEROVENT
- AMETEK. Inc.
- Flexxaire Inc.
- Multi-Wing America, Inc.
- Sunonwealth Electric Machine Industry Co. Ltd
- Valeo SA
- Bergstrom Inc.
- Horton Holding Inc.
- Rosenberg Ventilatoren GmbH
- Delta Electronics, Inc.
- Toshiba Electronic Devices & Storage Corporation.
- Air International Thermal Systems Inc.
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. This firm will make electric three-wheelers on June 21, 2022, to accelerate three-wheeler electrification in India.
· Acquisition
- The transaction was finalized in February 2021 by transferring 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 its customer base and the quantity of radiators it manufactures.
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Key Segmentations:
By Radiator Type:
- Down-flow
- Multi-flow
- Cross-flows
- 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
Author By-
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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The post Global Railway Radiator Market on Track to Reach US$ 882.7 Million by 2033: Anticipated 4.3% CAGR Growth | Future Market Insights Inc. appeared first on Future Market Insights.
