Built-in Oil Cooler Market: Influential Factors Determining the Trajectory of the Market
A built-in oil cooler is used in a vehicle to reduce the temperature of the oil. Oil is utilized to lubricate and cooling of the high temperature component. Mostly, oil is circulated through the vehicle components that dissipate more heat and need proper lubrication. Every time oil is circulated through the component, temperature of the circulated oil increases. The oil needs to be cooled for reuse. Systems like built-in cooler are more efficient to maintain the temperature of oil.
Built-in Oil Cooler Market for Automotive – Drivers and Restraints
Demand for built-in coolers for automotive is anticipated to increase during the forecast period due to increasing use of automobiles and the usage of the automotive built-in oil cooler depends on the total distance covered by the vehicle. Rise in dependence of people on automobiles is likely to boost the built-in oil cooler market for automotive. Rising production of vehicles is another major factor that drives the automotive built-in oil cooler market at a significant pace.
Increase in the rate of penetration of electric vehicles is likely to lead to replacement to the currently used built-in oil cooling system by different kinds of systems, as components used in electric vehicles are totally different and hence, may require different systems to cool the components.
Built-in Oil Cooler Market for Automotive – Segmentation
The built-in oil cooler market for automotive can be segmented based on cooler type, oil type, vehicle type, and region.
Based on cooler type, the built-in oil cooler market for automotive can be divided into tube coolers and finned coolers. In tube coolers, a refrigerant constantly flowing through the. The tube coolers segment held a leading share of the market in 2017 as this type of cooler is extensively used and is highly efficient. Finned coolers depend on the flow of air from outside. Hence, they are considered less efficient as compared to tube coolers.
In terms of oil type, the built-in cooler market for automotive can be segregated into mineral oil, synthetic oil, and others. Utilization of refrigerant varies use of type of oil used for lubrication and cooling. Use of synthetic oil is increasing rapidly owing to the modifications and blending of different oils, which increases the material property of the oil. Hence, the synthetic oil segment is likely to expand at a significant pace during the forecast period.
Based on vehicle type, the built-in oil cooler market for automotive can be classified into passenger vehicles (PVs) and commercial vehicles (CVs). The passenger vehicles segment can be further sub-segmented into hatchback cars, sedans, multi- purpose vehicles (MPVs), and sport utility vehicles (SUVs). The commercial vehicles segment can be further split into light-weight commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). The passenger vehicles segment is projected to hold a major share of the market, owing to the higher number of passenger vehicles on-road as compared to commercial vehicles.
In terms of region, Asia Pacific is anticipated to hold a notable share of the global built-in oil cooler market for automotive, as the region has the highest number of vehicles on-road and is presently the largest producer of vehicles among all regions, globally. Higher number of manufacturing facilities in Asia Pacific due to availability of basic resources, such as labor and raw materials, has boosted the automotive industry in the region.
Built-in Oil Cooler Market for Automotive – Key Players
Global players operating in the global built-in oil cooler market for automotive are Hayden Automotive, Modine Manufacturing, MAHLE, Dana, Fluidyne, Setrab, Calsonic Kansei Corporatioin, Derale, Thermal Dynamics, LLC., and DENSO CORPORATION.