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automotive charge air cooler market

Automotive Charge Air Cooler Market Share, Size, Trends, Industry Analysis Report, By Product Type (Air-cooled and Liquid-cooled); By Vehicle Type; By Design Type; By Position Type; By Region; Segment Forecast, 2023-2032

  • Published Date: Jan 2023
  • Pages: 118
  • Format: PDF
  • Report ID: PM2965
  • Base Year: 2022
  • Historical Data: 2019-2021

Report Summary

The global automotive charge air cooler market was valued at USD 3,094.96 million in 2022 and is expected to grow at a CAGR of 7.1% during the forecast period.

The growing prevalence and utilization of charge air cooler in both commercial and passenger vehicles to cool the combustion air and helps to achieve the required optimum power for the combustion process within the engine, coupled with the growing demand and use for turbochargers in vehicles, are major key factors propelling the growth of the global market. In recent years, the automotive industry is having several steps regarding more stringent regulations on emission and fuel consumption, which has fueled the need and demand for modules and components to manage the intake air temperature in all types of conventional vehicles. Thus, the manufacturers and suppliers of the automotive sector have started integrating advanced and developed automotive air charge coolers into their vehicles and pushing the market growth forward.

Automotive Charge Air Cooler Market Size
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For instance, in June 2022, Conflux Technology announced the launch of its first 3D-printed automotive charge air cooler to cool the air, which enters the turbos to boost car engines. With this launch, the company is not just optimizing performance and weight but also allowing it to easily slot into already existing designs of various high-end automotive manufacturers.

The COVID-19 pandemic has substantially affected the growth of the automotive charge air cooler market. The proliferative spread of the virus resulted in the closure of several manufacturing facilities and large production facilities across the globe and had the worst crises in the automotive industry. During the pandemic, the sales of automobiles have declined significantly as the growing trend of working from home and increased consumer awareness towards saving money for the future.

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Industry Dynamics

Growth Drivers
A rapid surge in penetration of turbochargers in passenger cars as it helps to reduce global vehicle emissions and the ability for the displacement volume of the cylinder, which reduces the overall volume of fuel required for the same power which also increases the fuel efficiency are key factors driving the growth of the global market over the forecast period.  Furthermore, higher implementation of high-performance engines and constantly growing research for lower fuel consumption and minimizing exhaust emissions, along with the growing trend of engine downsizing with enhanced performance and efficiency, is expected to fuel the demand and growth of the market in the next coming years.

Report Segmentation

The market is primarily segmented based on product type, vehicle type, design type, fuel type, position type, and region.

By Product Type

By Vehicle Type

By Design Type

By Position Type

By Region

  • Air-cooled
  • Liquid-cooled
  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others
  • Fin & Tube
  • Bar & Tube
  • Integrated
  • Standalone
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Air-cooled segment accounted for the largest market share

Air-cooled accounted for the largest market share in 2022 and is expected to maintain its position over the study period, owing to wide utilization in the automotive industry and several types of benefits offered by these products, such as design simplicity, enhanced reliability, and low operation cost. In addition, easy installation of these charge coolers in a variety of vehicles and adequate cooling make them an OEM’s favored choice and influence the growth of the segment market.

Furthermore, the liquid-cooled segment is anticipated to grow the fastest throughout the projected period. Liquid-cooled air coolers are highly efficient and facilitate gasoline and diesel engine manufacturers to improve engine power and meet government stringent emissions regulations, which drive the segment market growth. Moreover, these products offer higher flexibility and can be easily integrated into the intake manifold, further augmenting the segment market's growth. 

Passenger vehicles segment held the highest revenue share in 2022

The passenger vehicles segment held the highest market revenue share in 2022 and is likely to register considerable growth rate over the coming years. The increasing prevalence of air charge coolers to improve and enhance the efficiency of turbo-charged combustion engine and decrease in the level of pollutant emissions across the globe are key factors propelling the growth of the market.

In addition, the light commercial vehicles segment is likely to witness significant growth during the forecast period, which is mainly driven by continuously rising number of government initiatives to phase-out the diesel vehicles owing to rapid spread of various types of environmental concerns all over the world.   

Fin & tube segment dominated the global market

Fin & tube segment dominated the market in 2022 with a holding of healthy revenue share of more than XX% on account of its capabilities to provide higher cooling as compared to others available in the market especially for high-pressure applications. Additionally, fin & tube designed air charge cooler can efficiently withstand very high temperatures as well as pressure, which results in higher adoption of fin & tube designed segment. Furthermore, the bar and plate segment is projected to expand significantly over the forecast period due to diversity in the fin designs and easy compatibility with high-boost pressure, heavy off-road equipment, and heavy vehicles.

Diesel segment dominated the market in 2022

The diesel fuel type segment led the industry with a significant contribution to the market share in 2021 and is projected to grow at steady rate during the projected period. It helps to enhance the performance of vehicle’s engine and cools the engine air after passing through the turbocharger.

The gasoline segment is expected to grow at fastest CAGR during the anticipated the period. The growth of the segment market can be attributed to growing implementation of phase out diesel vehicles due to rapidly emerging emission concerns, which has paved the way for higher market growth opportunities for gasoline vehicles in the last few years. The prevalence of turbocharging in gasoline vehicles is growing rapidly around the world.

Standalone position type accounted for the maximum market share

Standalone segment accounted for largest revenue share & is expected to maintain its dominance throughout the forecast period. Greater adoption of these type of products owing to its wide range of benefits and integration of advanced mechanism of the separate components for the intake manifold & air cooler charges are major reasons behind the growth and demand of the segment market. Moreover, the integrated segment is projected to witness strongest growth due to its outstanding distribution of temperature, increased cooling performance, short response characteristics, and no transfer of vibration.

Asia Pacific region dominated the global market in 2022

Asia Pacific region is the largest market for automotive charge air cooler market followed by Europe, in 2022. The growth of the regional market can be attributed increased product and demand for passenger vehicles and several regulations associated with emissions mainly in developed countries like India, China, and Indonesia. The Asian countries are creating lucrative demand for products including automobiles with the presence of some largest producers of the world, which is further driving the growth of the market.

For instance, according to our findings, sales of passenger vehicles in India rose by 23.7 percent across various categories with compared to same period of the previous year. Total sales of passenger vehicles in June 2022 stood at 1,611,300 units and expected to grow significantly over the coming years.

North America is expected to emerge as fastest growing region in the global market during the anticipated period, which is mainly driven by rising number of research & development activities in automotive sector to innovate highly advanced products and increased consumer awareness towards the harmful effects of emissions of greenhouse gases on their health and environment as well.

Competitive Insight

Some of the major players operating in the global market include Dana Ltd., T.RAD Co. Ltd., Modine Manufacturing, Hanon Systems, Banco Products, Radicon Company, Kelvin Holding, Delphi Technologies, Dura-Lite Heat Transfer, Valeo, MAHLE, AKG Group, Sterling Thermal Technology, and Vestas Aircoil.

Recent Developments

In September 2022, Novamax, a leading air-cooler and components brand, announced the launch of its new range durable and premium quality industrial air coolers. The newly developed air cooler range consists many innovative features including uniform airflow technology, unique padding, and shock-resistant.

Furthermore, in March 2021, Hnaon Systems, announced about its launch of new manufacturing site in Korea. The new plant will be built on approximately 33,000 square meters of land. The facility is expected to produce a variety of automobile solutions including heat pump modules and coolant valve assemblies.

Automotive Charge Air Cooler Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 3,312.84 million

Revenue forecast in 2032

USD 6,162.61 million

CAGR

7.1% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments covered

By Product Type, By Vehicle Type, Be Design Type, By Position Type, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Dana Ltd., T.RAD Co. Ltd., Modine Manufacturing Company, Hanon Systems, Banco Products Ltd., Radicon Company Ltd., Kelvin Holding GmbH, Delphi Technologies, Dura-Lite Heat Transfer Products Inc., Valeo, MAHLE GmbH, AKG Group, Sterling Thermal Technology, C, G, & J Inc., and Vestas Aircoil.

Key Take-Away
Polaris Market Research
Global Automotive Charge Air Cooler Market Size, Share & Growth Analysis Report, 2023-2032