Asia-Pacific: Motor Vehicle Radiator Market 2025

Motor Vehicle Radiator Market Size in Asia-Pacific

The Asia-Pacific motor vehicle radiator market expanded sharply to $X in 2022, with an increase of 11% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Motor Vehicle Radiator Production in Asia-Pacific

In value terms, motor vehicle radiator production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 8.3%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Motor Vehicle Radiator Exports

Exports in Asia-Pacific

In 2022, exports of radiators for motor vehicles in Asia-Pacific reduced to X units, shrinking by -9.2% compared with the previous year. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 39%. As a result, the exports attained the peak of X units, and then reduced in the following year.

In value terms, motor vehicle radiator exports rose remarkably to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China prevails in exports structure, recording X units, which was near 77% of total exports in 2022. It was distantly followed by Japan (X units), constituting a 5% share of total exports. Indonesia (X units), Thailand (X units), Taiwan (Chinese) (X units), India (X units) and South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the radiators for motor vehicles exports, with a CAGR of +3.6% from 2012 to 2022. At the same time, India (+2.4%) and Indonesia (+1.7%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.3%), Japan (-1.9%) and South Korea (-3.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest motor vehicle radiator supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was held by Japan ($X), with a 7.8% share of total exports. It was followed by Thailand, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +7.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.3% per year) and Thailand (+1.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2014 when the export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per unit; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced more modest paces of growth.

Motor Vehicle Radiator Imports

Imports in Asia-Pacific

In 2022, purchases abroad of radiators for motor vehicles increased by 5.1% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 28%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, motor vehicle radiator imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units), distantly followed by Thailand (X units), Japan (X units), Indonesia (X units), Australia (X units) and Taiwan (Chinese) (X units) represented the main importers of radiators for motor vehicles, together comprising 77% of total imports. Malaysia (X units), India (X units), South Korea (X units), Vietnam (X units) and Myanmar (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +39.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle radiator importing markets in Asia-Pacific were China ($X), Japan ($X) and Indonesia ($X), with a combined 54% share of total imports. Thailand, Australia, India, Taiwan (Chinese), Vietnam, Malaysia, South Korea and Myanmar lagged somewhat behind, together accounting for a further 38%.

Myanmar, with a CAGR of +17.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, waning by -6.1% against the previous year. Over the period under review, the import price showed a slight contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 5.6% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform