“Global Automotive Charge Air Cooler Market is expected to grow at a CAGR of 8.7% during the forecasting period (2021-2028)”.
Automotive Charge Air cooler (CAC) has been used on turbocharged and supercharged engines. They are designed to cool down the heated intake air that comes from the compressor or turbocharger. It is also used in various applications such as HVAC, automotive and several other industrial cooling. The turbocharged engine in automotive produces hot air which on entry into combustor reduces engine efficiency. CAC is used before after the turbocharger to reduce the air inlet temperature thereby increasing air density and higher engine efficiency. CAC evolved as an integral part of any turbocharged automotive engine across cars, LCVs and HCVs.
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Rise in demand for fuel-efficient vehicles
Rise in demand for fuel-efficient vehicles coupled with an increase in emphasis on emission standards in order to minimize carbon emission is projected to boost the demand for automotive charge air cooler during the forecast period. At present, small and compact cars constitute over 61 per cent of the total monthly sales of passenger vehicles. It is expected that this could go up to 70 per cent over the next two years as fuel prices go up further. Moreover, the current growth trend of the vehicles has prominently influenced by the increasing air pollutions due to fuel emissions across all the regions of the globe. Advancement in autonomous technology amalgamate innovations in the automotive charge air cooler, and NGVs (Natural Gas Vehicles) have become a tool for a consumer as well as a marketer to reduce and suppress fuel emission which are likely to boost the market growth. As crude prices tend to go upward in the long term, there will be greater movement of car buyers to more fuel-efficient cars. That was primarily on account of several new launches in the recent past.
Furthermore, increase in production of passenger vehicles in developing countries, such India and Brazil, owing to enhanced spending power of consumers in these countries, along with better availability of car loans are anticipated to drive the automotive charge air cooler market during the forecast period.
However, the rising demand for Electric vehicles (EVs) at a fast pace which reduces the dependence of consumers on gasoline/diesel-based automobiles resulting in low demand of automotive charge air cooler.
By Product Type
Air to air Charge Air Cooler
Air to Liquid Charge Air Cooler
By Design Type
Front mounted intercoolers (FMIC)
Top mounted intercoolers (TMIC)
Side mount intercoolers (SMIC)
By Vehicle Type
Light Commercial vehicle
Medium & Heavy Commercial vehicle
By Sales Channel
Asia Pacific is all set to top the CAC market by 2023
By geography, Europe is dominating the global automotive CAC market, accounting for over 40% in the global sales revenue in 2019. Europe has been the production hub for premium cars with the likes of BMW, Mercedes-Benz and several other automakers having major production activities in the region. Europe has been at the forefront of integrating the latest engine boosting technologies into some of the world’s most advanced and fuel efficient powertrains. In Europe, where more than 50 percent of all new passenger cars already benefit from engine boosting, turbodiesels will remain the overriding powertrain of choice.
Asia Pacific is estimated to witness highest growth of 11% over the forecast period and evolve as the largest market for automotive CACs owing to increasing automotive production and growing penetration of turbo engine technology in light vehicles.
The global automotive charge air cooler market is highly fragmented with large number of players operating in production of CACs for automotive applications. The market competition is intense owing to high growth potential and technological advancements. The rising use of turbo engines and twin-turbo technology is likely to surge the need for CACs in automotives. The leading manufacturers of CACs are focusing towards new product launched and product differentiation to gain competitive edge in the market.
The major players operating in the industry are Bell Intercoolers, Forge Motorsport Inc., Garrett Motion Inc., Kale Oto Radyator, Mishimoto, Modine Manufacturing, MAHLE Gmbh, Valeo Group and Marelli Holdings Co., Ltd among others. These companies are increasing research and development (R&D) projects to introduce innovative CAC technologies with improved functionality.
Sai Kiran Sales Manager at DataM Intelligence Email: firstname.lastname@example.org Tel: +1 877 441 4866 Website: www.datamintelligence.com