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Steady gains in automobile production

Steady gains in automobile production Image

Steady gains in automobile production are set to drive the automotive radiators market, says a new report from Global Industry Analysts Inc.  The comprehensive global report on the automotive radiators market suggests that the worldwide market for automotive radiators will reach 165 million units within the next five years by 2017, with steady gains in the production of both commercial and passenger cars being the driving force behind the increase.

Passenger cars are tipped to reach 92.9 million units and commercial vehicles 23.3 million units by the year 2017, with future growth in the global market expected to be driven by developing countries located in the Asia-Pacific region, most notably China, which has been experiencing a steady increase in the output of automobiles.

The growing average life of vehicles coupled with the fact that there is, therefore, a rise in the number of miles that the vehicles have travelled has resulted in an increased need for the replacement of worn out radiators, therefore, giving plenty of opportunity for growth in the aftermarket sector.  Upcoming years are expected to see manufacturers change their focus towards producing next generation radiators that have superior mechanical strength and durability and will be able to operate at higher pressures.

There has been a strong rebound in both demand and production in the worldwide automobile industry since the end of the recession in 2009, but the decline in retail sales of new vehicles over 2008 and 2009 have seen a sharp reduction in the number of vehicles that are covered within manufacturers' Car Warranty periods, thereby increasing demand for aftermarket radiator replacements.  

Author - Michael Barclay

Car Warranty  06/03/2012 14:00:01

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