Automotive Charge Air Cooler Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
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 2030; The Automotive Charge Air Cooler Market Size Is Estimated To Grow At A CAGR Of 6.2% From 2022 To 2030.
Automotive Charge Air Cooler Market Overview:
Automotive charge air coolers are typically used in turbos to cool the compressed air before it enters the consumption manifold or combustion chamber. The air compressed by the charger has a relatively high temperature, which in turn lowers the strength of the air, making oxygen less available during combustion. The primary use of a charge air cooler is to lower the air temperature, thereby increasing the air density, consequently reducing emissions and increasing the engine efficiency of the vehicle.
Growing demand for fuel-efficient vehicles amid increasing concerns about emissions to minimize carbon emissions is expected to further fuel the market growth. Increasing production of passenger vehicles in developing countries such as China, Mexico, Indonesia, India and Brazil. Growing consumption power and increasing availability of auto loans are expected to drive the market growth.
However, electric vehicles do not use automotive charge air coolers, which is expected to hamper the market growth. Moreover, rising fuel prices and environmental awareness are making people in North America and Europe opting to purchase electric vehicles, which in turn restrains the growth of the market.
Automotive Charge Air Cooler Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Automotive Charge Air Cooler Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In November 2021, Dana Limited announced that the Dana TM4 joint venture will open a new manufacturing facility in Omal, Sweden, to initially produce electric motors for the mobility industry. This new operation will also help the company offer a wide range of auto parts to its European customers.
- In October 2020, BorgWarner Inc. announced that it had completed the acquisition of Delphi Technologies. The merger between BorgWarner and Delphi Technologies is expected to strengthen BorgWarner's electronics and power electronics products, capabilities and scale, as well as its aftermarket business.
Major Market Segments Covered in Automotive Charge Air Cooler Market Industry Research:
Market Key Players:
Calsonic Kansei Corporation, Dana Incorporated, Hanon Systems, MAHLE GmbH, Denso Corporation, T.RAD Co., And Others.
- Tube & Fin
- Bar & Plate
By Fuel Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Geographically, the global automotive charge air cooler market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share in 2020 and is expected to dominate the market at the highest CAGR during the forecast period. Growing demand for fuel-efficient and emission-free vehicles in these regions are some of the major factors driving the market growth. Additionally, increasing rate of advanced technology implementation in the region is expected to boost the market.
Additionally, Asia Pacific is estimated to be the second largest revenue generating region in the market and is projected to grow at a rapid CAGR during the forecast period. Growing industrial sector coupled with rapid urbanization in densely populated countries in APAC region such as China, India, and Indonesia is driving the growth of the market. Europe is expected to hold a significant market share during the forecast period. Presence of major market players and growing adoption of zero-emission vehicles are some of the major factors driving the growth of the market.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The automotive industry is moving toward more stringent emissions and fuel consumption regulations, resulting in increased demand for improved equipment to control intake air temperature. This is one of the key factors driving the demand for automotive charge air coolers over the forecast period.
The sales of automotive charge air coolers are directly related to automobile production and vehicle parts. Despite the recent unstable economic conditions in the market, the global automotive industry has shown satisfactory growth on average. Automotive production is expected to increase at a moderate growth rate of 3-3.5% over the forecast period.
Automotive production is expected to be higher in emerging economies compared to developed countries. This is mainly due to the region's increasing urbanization and stable economic situation. Vehicles on the road are also expected to increase at a modest growth rate over the forecast period, providing noteworthy opportunities for the growth of the automotive charge air cooler aftermarket.
The global automotive charge air cooler market has bright opportunities in the future, but still automotive charge air cooler manufacturers have to face some challenges regarding product demand. Growing environmental awareness and fluctuating fuel prices are influencing the choice of electric vehicle models such as battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) by consumers, especially in developed countries in Europe and North America. . As automotive charge air coolers are not used in electric vehicles, this acts as a minor constraint to the global automotive charge air cooler market.
Automotive Charge Air Cooler Market report scope:
Key Takeaways from this Automotive Charge Air Cooler Market Report
- Estimate Automotive Charge Air Cooler Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Automotive Charge Air Cooler Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Automotive Charge Air Cooler Market?
The Automotive Charge Air Cooler Market is growing at a CAGR of 6.2% During Forecast Period.
What are the key types of Automotive Charge Air Cooler Market?
Air-Cooled , Liquid-Cooled
What are the key applications of Automotive Charge Air Cooler Market?
Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Others
Who are the key players in Automotive Charge Air Cooler Market?
Calsonic Kansei Corporation, Dana Incorporated, Hanon Systems, MAHLE GmbH, Denso Corporation, T.RAD Co., And others.