Automotive Charge Air Cooler Market size, share | Forecast 2028

Automotive Charge Air Cooler Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Air-Cooled Charge Air Cooler and Liquid-Cooled Charge Air Cooler), Fuel Type (Gasoline and Diesel), Core Type (Tube, Fin, Bar, and Plate), and Vehicle Type (Passenger Cars, LCV, Trucks, and Buses)

Publication Month : Sep 2022

  • Report Code : TIPRE00023839
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 180
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The automotive Charge Air Cooler market share is expected to grow from US$ 2,947.29 million in 2022 to US$ 4,229.60 million by 2028; the automotive Charge Air Cooler market size is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

The automotive charge air cooler market consists of companies (organizations, retailers, and partnerships) selling automotive charge air cooler products designed to cool heated air from superchargers or turbochargers. Turbochargers compress air at high temperatures, reducing air density and oxygen during combustion. These components maintain and improve the power and torque of the vehicle.

 The main types of charge air coolers for automobiles are air-cooled charge air coolers and liquid-cooled charge air coolers. An air-cooled intercooler is used to cool the engine air after the turbocharger enters the combustion chamber. Its function is to cool the combustion air to the temperature most suitable for performance, fuel consumption and thus exhaust gas. Automotive charge air coolers are available in various designs, including tubes and fins, webs, and plates. They are different types of fuels, such as gasoline and diesel. Charge air coolers for automobiles are used in vehicles such as passenger cars, light commercial vehicles, trucks, and buses.

 Increasing demand and turbochargers in the automotive industry are expected to drive the automotive charge air cooler market share. Using a turbocharger reduces the cylinder's displacement and the amount of fuel required for the same output. This factor is expected to create huge growth opportunities for turbochargers during the forecast period. Demand for turbochargers is expected to be very high in the Asia Pacific region. Therefore, these products are increasingly being adopted in passenger cars, driving the demand for automotive intercoolers and further facilitating the implementation of high-power supercharged engines. It offers many possibilities to the market.

Companies in the automotive intercooler market focus on implementing high-performance engines to improve fuel economy. With the help of a high-performance engine, the oil in the engine is significantly cooled to prevent overheating. For example, in April 2021, Tata Autocomp developed a new generation of iSMART that is lightweight and has high cooling efficiency. In addition, the company has developed a new generation of slimline condensers, low-pressure loss charge air coolers, efficient fan motor assemblies, and compact collectorless EGR coolers.

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Automotive Charge Air Cooler Market: Strategic Insights

automotive-charge-air-cooler-market
Market Size Value inUS$ 2,947.29 Million in 2022
Market Size Value byUS$ 4,229.60 Million by 2028
Growth rateCAGR of 6.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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The automotive charge air cooler market is segmented intointotype, fuel type, core type, vehicle type, and geography. Based on type, the automotive charge air cooler market is categorized into air-cooled charge air cooler and liquid-cooled charge air cooler. The air-cooled charge air cooler segment is expected to dominate the automotive charge air cooler market during the forecast period. By fuel type, the automotive charge air cooler market is subsegmented into gasoline and diesel. The diesel segment is expected to dominate the automotive charge air cooler market during the forecast period. The automotive Charge Air Cooler market, by core type, is subsegmented into tube, fin, bar and plate. The fin segment is expected to dominate the automotive Charge Air Cooler market during the forecast period. The automotive charge air cooler market, by vehicle type, is subsegmented into passenger cars, LCV, trucks, and buses. The passenger cars segment is expected to dominate the automotive charge air cooler market during the forecast period.  In terms of geography, the automotive Charge Air Cooler market is divided into five regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific dominated the overall market in 2021, and Europe contributed the second-largest market share in 2021.

Impact of COVID-19 Pandemic on Automotive Charge Air Cooler Market

 

The COVID-19 outbreak disrupted the automotive charge air cooler market growth even though the outbreak had driven many companies to use advanced analytics and artificial intelligence (AI). The early stages of the pandemic saw a slowdown in companies adopting new solutions and services. However, during the later stages, many market players were increasingly turning to analytics, collaboration applications, security solutions, and AI to outline sustainable ways to continue business operations amid the COVID-19 pandemic threat. Industrial manufacturing production gained pace from mid-2021, which is further foreseen to positively influence the adoption of analytics solutions, including automotive charge air coolers.

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Market Insights– Automotive Charge Air Cooler Market

Rise in penetration of turbochargers in passenger cars

The turbocharger helps to reduce the vehicle’s emissions. Using turbochargers reduces the displacement volume of the cylinder, which reduces the volume of the fuel required for the same power, thereby reducing the vehicle's exhaust emissions. It also increases fuel efficiency. It is because of these reasons that have promoted the adoption of turbocharger technology, mainly in passenger cars. Passenger cars with conventional fuel include diesel and gasoline engines. Emission regulations, especially those affecting diesel engines have accelerated the integration rate with turbochargers. Long-term revenue opportunities in the automotive charge air cooler market growth have stemmed from the cutting-edge designs of turbochargers that can help customers meet upcoming emission standards. Recent developments confirm that turbochargers have gained from the rapidly increasing use of the technology in diesel vehicles, thus improving the outlook of the automotive charge air cooler market size.

Stricter fuel economy regulations with significantly higher mpg targets and strict restrictions on greenhouse gases that include carbon dioxide from engine exhaust emissions have spurred the shift of a performance segment towards a mainstream fuel-saving presence. All around the world, car builders have strongly pursued gasoline engine downsizing (and, to a lesser extent, diesel downsizing). In the US, that would typically mean replacing a naturally aspirated 3.5-liter V-6 with a 2.0-liter I-4 gas engine. In Europe, a 2.0 liter I-4 could be replaced with perhaps a 1.4 liter I-4, or 1.0 liter I-3, owing to the growth of the automotive charge air cooler market share.

Type-Based Insights

Based on type, the global automotive charge air cooler market is segmented into air cooled charge air cooler and liquid cooled charge air cooler. The air-cooled charge air cooler segment is expected to hold a significant share in the global market over the forecast period.

Fuel Type-Based Insights

Based on fuel type, the Automotive Charge Air Cooler market is segmented into gasoline and diesel. The diesel segment is projected to witness the highest growth rate during the forecast period.

Core Type-Based Insights

In terms of core type, the automotive charge air cooler market is categorized into tube, fin, bar, and plate. The fin segment accounts for a major share during the forecast period.

Vehicle Type-Based Insights

In terms of vehicle type, the automotive charge air cooler market is categorized into passenger cars, LCV, trucks, and buses. The passenger cars segment accounts for a major share during the forecast period.

Players operating in the Automotive Charge Air Cooler market are mainly focused on the development of advanced and efficient products.

  • In November 2021, Dana Limited announced that its Dana TM4 joint venture is establishing a new manufacturing facility in Åmål, Sweden, which will initially produce electric motors for the mobility industry. This new operation will also help the company to serve a broad range of automotive components to European customers.
  • In October 2020, BorgWarner Inc. announced that it had completed its acquisition of Delphi Technologies. This merger of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, and also aftermarket business.

List of Companies:

  • Dana Incorporated
  • Delphi Technologies (BorgWarner Inc.)
  • AKG Group
  • Hanon Systems
  • Dupont.
  • MAHLE GmbH
  • Modine Manufacturing Company
  • T. RAD Co. Ltd.
  • Valeo
  • Vestas Aircoil.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Fuel Type, Core Type, and Vehicle Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What will be the global market size for automotive charge air cooler market by 2028?

The automotive charge air cooler market is expected to reach US$ 4,229.60 Mn by 2028.

What is the incremental growth of the global automotive charge air cooler market during the forecast period?

The incremental growth, expected to be recorded for the automotive charge air cooler market during the forecast period, is US$ 1,282.31 million.

Which is the leading core type segment in the global automotive charge air cooler market?

The fin segment led the automotive charge air cooler market with a significant share in 2021 and the bar segment is also expected to grow with the highest CAGR.

Which country is holding the major market share of global automotive charge air cooler market?

The China held the largest market share in 2021, followed by US.

Which is the fastest growing regional market?

APAC is anticipated to grow with the highest CAGR over the forecast period.

Which countries are registering a high growth rate during the forecast period?

The country anticipated to grow with the highest CAGR are Mexico, UK, India, South Africa, and Brazil.

Which are the key players holding the major market share of global automotive charge air cooler market?

The key players, holding majority shares, in automotive charge air cooler market includes Hanon Systems; Mahle GMBH; Modine Manufacturing Company; Metair; and Valeo.

What are the future trends of the global automotive charge air cooler market?

The 3D printed charge air cooler is scalable, configurable, and ultra-efficient that outperforms other leading charge air coolers for the racing and premium automotive markets.

What are the driving factors impacting the global automotive charge air cooler market?

The growing developments in turbochargers have gained from rapidly increasing use of the technology in diesel vehicles, thus improving the outlook of the automotive charge air cooler market.

What is the estimated global market size for the global automotive charge air cooler market in 2021?

The global automotive charge air cooler market was estimated to be USD 2,833.93 Mn million in 2021 and is expected to grow at a CAGR of 6.2%, during the forecast period 2022 - 2028.

The List of Companies - Automotive Charge Air Cooler market

  1. Dana Incorporated
  2. Delphi Technologies (BorgWarner Inc.)
  3. DENSO Corporation
  4. Hanon Systems
  5. Magneti Marelli S.p.A.
  6. MAHLE GmbH
  7. Modine Manufacturing Company
  8. T. RAD Co. Ltd.
  9. Valeo
  10. Vestas Aircoil

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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