Automotive Charge Air Cooler Market is expected to reach US$ 4,229.60 Million by 2028

Implementation of fuel-efficient engines provide Lucrative Opportunities for Automotive Charge Air Cooler Market

According to our new research study on “Automotive Charge Air Cooler Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Fuel Type, Core Type, Vehicle Type, and Geography,” the Automotive Charge Air Cooler market share is projected to reach US$ 4,229.60 million by 2028 from US$ 2,947.29 million in 2022; the automotive charge air cooler market size is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

The constant search to reduce fuel consumption and exhaust emissions has resulted in engine development. In particular, the tendency to reduce the size of high-efficiency motors led to a continuous increase in the specific component loads. With the replacement of large displacement engines with small, turbocharged engines, the requirement for thermal management has also evolved. Thus, an increasingly important position in the development process of high-performance engines also fueled the demand for charge air coolers.

Fuel efficiency depends on many vehicle parameters, including engine specifications, aerodynamic drag, weight, AC usage, fuel, and rolling resistance. Over the past few decades, there have been advances in all areas of vehicle design. The fuel efficiency of vehicles can also be improved by careful maintenance and driving habits. Hybrid vehicles use two or more energy sources for propulsion. In many designs, a small combustion engine is combined with electric motors. Kinetic energy lost due to heat during braking is recovered as electrical power to improve fuel efficiency. Engines automatically stop when the vehicle comes to a stop and start again when the accelerator is pressed, preventing wasted energy from idling. These factors provide lucrative opportunities for the automotive charge air cooler market growth.

In many parts of the world, passenger automobiles are the primary means of transportation. Over 70 million new cars are produced each year, nearly all of them (in 2017) being powered by petrol (gasoline) or diesel. They contribute roughly 45% of global transportation energy consumption, accounting for about 20% of primary energy consumption. Vehicles fueled by alternative energy sources such as hydrogen or stored electrical energy appear to be a long way off at the time of writing. Passenger cars and heavy-duty diesel engines use a lot of EGR, so they have to deal with lower air-to-fuel ratios and more sensitive combustion. As a result, the demand for EGR valves for passengers is expected to grow over the forecast period.

The automotive Charge Air Cooler market has been analyzed into type, fuel, core, vehicle, 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. The automotive charge air cooler market, by fuel type, 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 to the second-largest market share in 2021.

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

The COVID-19 pandemic has had a diverse impact on various nations in Europe. Only a few nations saw an increase in the number of cases, such as Italy, France, among others, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their excellent healthcare systems, Western European nations such as Germany, France, Russia, and the UK witnessed a comparably slight decline in their manufacturing activities. The governments of these nations made significant expenditures to improve the efficiency and efficacy of their infrastructure, which increased the demand for analytics solutions. Following the relaxation of limitations across Europe, almost all the European sectors bounced back very quickly, which is a positive sign for the automotive charge air cooler market vendors. An increased demand for automotive charge air coolers was witnessed, in the first half of 2021, as different vehicle type verticals did not want to hamper their production schedule any further through unforeseen equipment failure. Hence, the COVID-19 outbreak positively impacted the European automotive charge air cooler market share, which is expected to grow significantly in the next few years.

Dana Incorporated; Delphi Technologies (BorgWarner Inc.); AKG Group; Hanon Systems; Dupont.; MAHLE GmbH; Modine Manufacturing Company; T. RAD Co. Ltd.; Valeo; and Vestas Aircoil are the key players operating in the Automotive Charge Air Cooler market. In addition, several other market players have been analyzed to understand the automotive Charge Air Cooler market size.

Automotive Charge Air Cooler Market Share – by Region, 2021

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