Future Market Insights
Auxiliary Oil Cooler Market: Snapshort
The auxiliary oil cooler is majorly used to cool down the transmission of fluids used in automotive and industrial applications. Temperature control is a prominent factor that help in improving efficiency of boilers.
Need to increase the efficiency of boilers has become one of the major point of concern in the industries, this is a prominent factor expected to boost the auxiliary oil cooler market in the coming few years.
Further ability of auxiliary oil cooler to reduce carbon footprint and offer a sustainable development in the industries is another strong factors expected to drive the global auxiliary oil coolers market in the coming.
Significant rise in urbanization and industrialization are two major factors expecte to drive the global auxiliary oil cooler market.
Increasing focus on nuclear energy is also expected to drive the demands for auxiliary oil coolers market. This is because auxiliary oil coolers is a vital component of nuclear power plant, thus offer a significant boost to the growth of the global auxiliary oil cooler market.
However high maintenance and installation costs of the auxiliary oil cooler is projected to impede the growth of the global market. In addition to this, unavailability of human resource to maintain these coolers is another restraint factor in the growth of the auxiliary oil coolers market.
Nevertheless, application of auxiliary oil cooler in automotive industry and growing crisis for crude oil are vital factors projected to drive the global auxiliary oil cooler market the coming few years.
The auxiliary oil cooler is designed to cool down the automatic transmission fluid in automotive and industrial applications. The temperature of the transmission fluid when reaching a certain temperature, the capabilities and effectiveness of the fluid is significantly reduced. Overheated transmission fluid can erode seals in the transmission gear box and diminish the life span of your transmission fluid. Although, motor oil is mainly a lubricant which also serves as an efficient method of heat transfer due to which oil comes in direct contact with moving parts. Automobile engines are power heavy loads at high speeds and are driven in all kinds of ambient temperature extremes; they require a significant amount of cooling. However, letting oil temperature increase beyond certain limits which can reduce the life of a system due to inadequate lubrication, higher internal leakage, a high risk of cavitation, and damaged components. A damaged automatic transmission can be very costly to repair, and in severe cases, it may be necessary to have the gear box completely. Auxiliary Oil Coolers can retain the temperature cool as long as required. Although, auxiliary oil is primarily a lubricant which also serves as a beneficial method of heat transfer.
Auxiliary Oil Cooler Market: Drivers and Restraints
The rising demand for fuel efficient vehicles and the growing crisis for crude oil are the primary factor driving the growth of the auxiliary oil coolers market. The auxiliary oil coolers help in reducing engine oil temperatures, protect the engine, extend the life of the oil, and saving resources which are in high demand especially in various industrial applications. The increasing fuel prices across the globe is one of the major factor driving the market growth. Since the market, as well as government, are pushing the automobile manufacturers to improve emissions and fuel consumption; many manufacturers are evaluating all the opportunities in auxiliary oil coolers to reduce fuel loss. Moreover, the growing concerns for sustainable development and reducing carbon footprint, are widening the scope of the auxiliary oil cooler market. The customization and tailor made solutions available in the form of the auxiliary oil cooler are also contributing to the market. However, the initial high cost of investment is a restraint for the growth of the auxiliary oil cooler market. The improperly installed auxiliary cooler may harm the vehicle. A popular trend is the engagement of various OEMs (Own Equipment Manufacturers) in developing the auxiliary oil cooler solutions. For instance, automobile companies developing their coolers.
Auxiliary Oil Cooler Market: Segmentation
Auxiliary Oil Coolers can be segmented on the basis of the industry:
Auxiliary Oil coolers can be segmented on the basis of material:
Auxiliary Oil Cooler Market: Region wise Outlook
The global auxiliary oil cooler market is classified into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. The global auxiliary oil cooler market revenue is expected to grow at a rapid growth rate, over the forecast period due to the growing end-use industry such as automobiles and its applicability in a variety of industrial applications such as agricultural, mobile, manufacturing, and industrial applications which make it an ideal component due to its strength and efficiency. Nowadays, retailers keep first-hand knowledge on preferences and purchase habits of the consumers which they transfer to the overhead stream of manufacturers in the supply chain. Europe holds a significant market share of automotive variable discharge oil pump market owing to the increasing awareness for optimum use of fuel. Furthermore, the increase in research & development activities related to aerospace and automobiles, wherein automotive variable discharge oil pump provide fuel efficiency, aids in boosting the growth of auxiliary oil cooler market in the region. Globally, the automotive industry is growing at a faster rate which can expand the auxiliary oil cooler market at a significant CAGR during the forecast period.
Auxiliary Oil Cooler Market: Key Players
The prominent players in the auxiliary oil cooler market are PWR Performance Products, Calsonic Kansei, Hayden, Toyota, Fluidyne, Modine Manufacturing Company, and others.
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