Automotive Charge Air Cooler Market Outlook
According to a new report by Expert Market Research titled, “Global Automotive Charge Air Cooler Market Share, Size, Growth, Analysis, Report and Forecast 2023-2028″, the automotive charge air cooler market reached a value of USD 11.68 billion in 2022. Aided by rising purchase of passenger vehicles and introduction of stringent emission regulations, the market is projected to further grow at a CAGR of 7.00% between 2023 and 2028 to reach a value of USD 17.45 billion by 2028.
Automotive charge air coolers, often known as intercoolers, are pivotal components in turbocharged and supercharged engines. Their primary function is to cool the air compressed by the turbocharger or supercharger before it enters the engine, ensuring that the engine receives a denser and cooler air supply. This not only enhances the engine’s efficiency but also significantly boosts its performance, making these coolers an indispensable component in modern automobiles.
A key factor propelling the automotive charge air cooler market growth is the escalating demand for vehicles with better fuel efficiency and reduced carbon emissions. As environmental concerns intensify and regulatory bodies across the globe impose stricter emission norms, automakers are increasingly incorporating turbocharged engines in their vehicles. Turbocharging, coupled with effective charge air cooling, offers the dual advantage of enhanced engine performance and reduced fuel consumption.
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Additionally, the burgeoning trend of downsizing automotive engines without compromising performance or efficiency is further bolstering the automotive charge air cooler market expansion. Smaller engines equipped with turbochargers and intercoolers can deliver power outputs similar to or even better than their larger, naturally aspirated counterparts while being more fuel-efficient and eco-friendlier.
The innovation spree in the automotive industry, characterized by the increasing adoption of hybrid and electric vehicles, is also playing a pivotal role in shaping the automotive charge air cooler market outlook. Advanced charge air cooling solutions are being developed for hybrid engines, ensuring optimal performance while adhering to the stringent environmental standards of today.
Furthermore, the rise in the demand for high-performance vehicles, especially in regions like Europe and North America, has amplified the focus on turbocharging and supercharging technologies. With performance enthusiasts seeking cars that deliver higher power and torque outputs, the incorporation of efficient charge air cooling systems becomes paramount.
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Beyond passenger vehicles, heavy-duty trucks and commercial vehicles, which primarily rely on turbocharged diesel engines, are significant contributors to the increasing automotive charge air cooler market demand. Driven the emphasis on enhancing the operational efficiency and lifespan of these engines, advanced charge air coolers are seeing increased adoption in the commercial sector.
Automotive Charge Air Cooler Market Segmentation
The market can be divided based on product type, position, fuel type, vehicle type, sales channel, and region.
Market Breakup by Product Type
- Air-cooled
- Liquid-cooled
Market Breakup by Position
- Fin and Tube
- Bar and Plate
Market Breakup by Fuel Type
- Gasoline
- Diesel
Market Breakup by Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Market breakup by Sales Channel
- OEM
- Aftermarket
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global automotive charge air cooler companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Mahle GmbH
- Dana Incorporated
- Modine Manufacturing Company
- Valeo S.A.
- AKG Group
- Sterling Thermal Technology Limited
- Others
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