Automotive oil coolers are used to remove the harmful heat generated within the automotive engine. Automotive oil coolers help improve the lifespan of the automotive systems and the oil by reducing the amount of heat generated within the automotive systems. Specifically, automotive oil coolers are employed for controlling the temperature within the engine, transmission, and power steering systems of the vehicle. Mostly the oil coolers are used in the performance vehicles, which generate a high amount of heat due to their robust and compact construction.
Demand for automotive oil coolers is estimated to rise due to the increase in number of the sports and high speed vehicles in the automotive market. Increasing demand for lightweight vehicles among consumers, due to their higher fuel efficiency, is also likely to boost the automotive oil cooler market, as lightweight vehicles have light and compact engines and transmission systems, which are likely to produce high amount of heat due to reduced surface area of the system. Increasing emphasis of the automotive industry on electric vehicles is anticipated to hamper the market, as electric vehicles generate less amount of heat as compared to the internal combustion (IC) engines.
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The automotive cooler market can be segmented based on application, vehicle type, and region.
Based on application, the automotive cooler market can be segregated into engine oil cooler, transmission oil cooler, and power steering oil cooler. Engine oil coolers control the temperature of the engine oil according to the requirement of the engine. Transmission oil coolers are employed to maintain the temperature of the transmission system by reducing the temperature of the lubricant utilized in the transmission assembly. Power steering dissipates high amount of heat, which reduces its lifespan, hence power steering coolers are used to reduce the temperature of the system.
Based on vehicle type, the automotive oil coolers market can be segregated into passenger vehicles, commercial vehicles, and off road vehicles. The passenger vehicles segment can be further sub-segmented into hatchbacks, sedans, and multi-utility vehicles.
The commercial vehicles segment can be further split into light duty commercial vehicles and heavy duty commercial vehicle. Off road vehicles are utilized in the construction industry and for agricultural purposes, due to their heavy engine size and high carrying capacity, they also dissipate high amount of heat.
In terms of geography, the automotive oil cooler market can be segmented into Asia pacific, North America, Latin America, Europe, and Rest of the World. Europe, North America, and Asia are prominent markets for automotive oil coolers. In Asia Pacific, specifically, China and Japan are significant markets for automotive oil coolers. In terms of revenue, the global automotive oil cooler market is estimated to expand at a rapid pace during the forecast period due to the expansion of the automotive industry across the globe.
Key players operating in the global automotive cooler market include PWR Advance Cooling Technology, Calsonic Kansei Corporatioin, HAYDEN Automotive, Fluidyne, MODINE MANUFACTURING COMPANY, Dana Limited, MAHLE GmbH, Derale, DENSO CORPORATION, and Thermal Dynamics, LLC.