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Locomotive Radiator Fan Market Size, Share, and COVID-19 Impact Analysis, By Type (Mechanical Fans and Electric Cooling fans) By Application (Freight Train and Passenger Train), By Material (Aluminium, Steel, Plastic, and Others), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI108316 | Status : Ongoing

 

KEY MARKET INSIGHTS

Radiators are one of the essential components of a locomotive, and so is the radiator fan, as it helps regulate the engine's temperature and increases the engine's useful life. A locomotive radiator primarily cools down air, water, and oil. Air is used in the combustion process, and oil is used for lubricating the engine components, which get heated during continuous operation. Water pumped from the engine block gets extremely heated and is then cooled in the radiator to repeat the cycle. A radiator fan helps to dissipate the heat via convection from the coolant to the atmosphere.


Environmental regulations and stricter emission norms placed on the transportation market have forced manufacturers to continuous advancements. Radiators are crucial in improving the engine's fuel efficiency by dissipating excess heat. Besides, there is a continuous expansion of trans-border railway freight services between the nations, further strengthening the railway component manufacturing industries.

The increasing population globally will fuel the market expansion. With rising population density and urbanization, there is an increase in office goers, leading to heavy congestion in the roadways. Consumers continuously shift their commuting means to metros and railways to circumvent this chaos, significantly propelling the locomotive radiator fan market. Additionally, nations are investing heavily in developing transportation infrastructure, such as high-speed rail networks and metros, to provide quick and comfortable rides to passengers.

Impact of COVID-19 on the Locomotive Radiator Fan Market


The pandemic introduced a temporary worldwide shutdown in many sectors. This temporary shutdown impacted various industries negatively, leading to revenue decline, loss of product sales, slowed production rate, unemployment, and many other severe impacts. This led to an economic downturn as the majority of the manufacturing facilities were suspended or working at half capacity.

The growth of the locomotive radiator fan market is positively correlated to the rising demand for overall railways as a means of transportation. As COVID-19 hit the world in early 2020, all the major economies had multiple setbacks due to lockdowns and supply chain bottlenecks. FY-20 and FY-21 were highly disappointing with the travel and transportation market as people have entirely refrained from leisure trips, and the work-from-home culture has significantly reduced the number of office goers, leading to plummeting demand for railways for commuting.

Industrial activities worldwide took a pause leading to lesser production and lesser shipments of goods globally. Reduced output has lowered the need to transport goods, resulting in a deteriorating demand for the locomotive radiator fan market. The closure of production plants and shortage of workforce due to stricter social distancing norms also affected production. Another issue was regarding the procurement of raw materials. The supply chain tailback affected the companies to procure sufficient raw materials to meet their production needs, and at the same time, the elevated inflation significantly raised the cost of production.

Key Insights


The report will cover the following key insights:


  • Key Industry Developments – Mergers, Acquisitions, and Partnerships

  • Porter's Five Forces Analysis

  • Technological Developments

  • Impact of COVID-19 on the Locomotive radiator fan market


Regional Analysis



Asia Pacific is predicted to dominate the locomotive radiator fan market over the coming years. Multiple factors that strengthen the region’s dominance include the rising populace migrating to the middle-income bracket, urbanization, increasing office goers, presence of rail manufacturers in China and Japan, cheap access to labor, and proliferation in technology adoption, among others. Additionally, Asia Pacific's growth is optimistic as Japan, China, and India are investing heavily to expand their railway infrastructure by introducing super-fast rails, bullet trains, mono rails, and metro for greater commuter convenience, resulting in a proliferation in the locomotive radiator fan market. Favorable regulations, policy decisions, and subsidies & concessions would propel the development of the locomotive radiator fan market.

Key Players Covered


The report includes the profiles of key players such as ZIEHL-ABEGG Inc., Flexxaire Inc., Aerovent, Ametek Inc., Valeo SA, Multi Wing America Inc., Sunonwealth Electric Machine Industry Co. Ltd, Bergstrom Inc., Horton Holding Inc., Rosenberg Ventilatoren GmbH, Delta Electronics Inc., Toshiba Electronics Devices & Storage Corporation and Air International Thermal Systems Inc.

Segmentation


















By  Type


By  Material


By Application


By Geography



  • Mechanical Fans

  • Electric Cooling Fans




  • Aluminium

  • Steel

  • Plastic

  • Others




  • Freight Train

  • Passenger Train



 

 

 


  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (India, China, Japan, South Korea and Rest of Asia Pacific)

  • Rest of the World


 


Key Industry Developments



  • June 2023 – Westinghouse air brake technologies, popularly known as Wabtec, acquired L&M Radiator, which makes heavy-duty equipment radiators and heat exchangers.





  • Ongoing
  • 2023
  • 2019-2022

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