Valley Cottage, NY -- (SBWire) -- 07/02/2018 --Automotive Power Steering Cooler Market: Overview

The function of power steering cooler is to remove the extra heat generated in the steering system due to high steering turning load or frequent usages of steering. In racing car the steering uses frequently, therefore, the steering system got heated, this cooler provides cooling to the steering system and enhance the overall efficiency of the vehicles. Furthermore, Installation of a power steering oil cooler will extend the life of the system's hoses, pump, and seals. A reduction of just 11°C can double the life of the power steering, the fluid and all internal parts. This power steering cooler can also be utilized as a fuel cooler. In high performance cars and the steering system temperature reached up to 50 degree centigrade. At this point the engine will start to lose power due to failure of steering seal or pump. Moreover, Australia, Oman, Iraq and others are projected to create more opportunity for the market owing to the high temperature of these countries. Over the last ten to twenty years, major player is using aluminum alloy as material for steering cooler owing to its phenomenal heat dissipating properties. Whilst, in military vehicles, copper or brass material is gaining significant popularity owing to outstanding heat transfer properties. In future perspective, the global automotive power steering cooler market is projected to grow with remarkable growth rate due to increasing heavy vehicle fleet coupled with racing activity of off-road vehicle during the forecast period.

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Automotive Power Steering Cooler Market: Dynamics

Towing vehicle is used to tow the car or vehicle from accidental place, increasing number of car accidents is projected to enforcing the global market owing to these types of towing vehicle is required steering cooler for dissipation of heat from the steering System. Moreover, increasing car racing activity, particularly in Europe and North America are anticipated to drive the global market between 2013 and 2028. Moreover, increasing heavy duty vehicle for transporting heavy cargo is also projected to foster the global market over the stipulated time period. Additionally, increasing disposal income of people and also shifting their interest towards extreme off road racing activity is also pumping up the global automotive power steering cooler market throughout the forecast period.

Lack of awareness pertaining to place of cooler mounted is anticipated to hinder the global automotive power steering cooler market during the forecast period. Moreover, high maintenance cost is one of the major factor which might hamper the global automotive power steering cooler market by the end of 2028.

Automotive Power Steering Cooler Market: Segmentation

The global Automotive Power Steering Cooler Market can segmented on the basis of Vehicle Type:

Off-road Vehicle
Towing Vehicle or carrying heavy load
Heavy Commercial Vehicle (HCV)
Light Commercial Vehicle (LCV)
Racing Cars
Others

The global Automotive Power Steering Cooler Market can be segmented on the basis of Mounting:

Tube Type Cooler
Tank Type Cooler
Others

The global Automotive Power Steering Cooler Market can be segmented on the basis of Sales Channel:

OEM
Aftermarket

Automotive Power Steering Cooler Market: Regional Outlook

North America and Europe are anticipated in the largest market for the automotive power steering cooler owing to increasing off-road racing over the forecast period. In South East Asia and Pacific region, particularly Australia is projected to hold relatively higher value share in the regional market owing to increasing off-road desert racing. Latin America is growing with a healthy CAGR over the slated time period owing to the increasing interest of young people for 775 miles long desert racing. China and India are projected to grow with sluggish growth rate owing to in these country motorcycle racing is capturing the eyes of people. Before twenty years Japan was well known for extreme road racing. But people had lost their interest in these types of racing. While in now day, the manufacturer is again ready to launch racing vehicle such as FJ Cruiser's 4-liter V6 engine for racing. This strategic product launching may give positive potential to the market in Japan.

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Automotive Power Steering Cooler Market: Key Participant

The key participants of the global Automotive Power Steering Cooler Market are following:

POONA SHIMS PRIVATE LIMITED
ANAND Automotive
Borg-Warner Automotive, Inc. (Eaton Corporation)
Motospecs
Jayant Group
Thermex Ltd.
Plews & Edelmann
Thermal Dynamics International
PWR Advance Cooling Technology
MinebeaMitsumi Inc.