Passenger cars is the leading segment in the market. At what rate is the market projected to grow? The market is projected to accelerate at a CAGR of almost 6%. Who are the top players in the market? Alfa Laval AB, API Heat Transfer Inc., Dana Inc., DENSO Corp., GEA Group AG, Mahle GmbH, Nippon Light Metal Holdings Co. Ltd., Robert Bosch GmbH, SPX Corp., and Valeo SA are the top players in the market. What are the key market drivers and challenges? The market is driven by the heavy dependence on IC engines for mobility in emerging countries. However, the gradual increase in annual wages leading to declining profit margins will impede the market growth.