PUBLISHER: The Business Research Company | PRODUCT CODE: 1392458
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392458
“Automotive Charge Air Cooler Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive charge air cooler market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive charge air cooler? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive charge air cooler market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The growth in the historic period for automotive charge air coolers can be attributed to factors such as the need to cool down the heated intake air from the compressor or turbocharger, enhancing power output and torque in vehicles. This demand was fueled by the compression of air at high temperatures by turbochargers, leading to lower air density and reduced oxygen during combustion.
In the forecast period, the automotive charge air cooler market is expected to continue growing, driven by factors like the ongoing demand for improved power output and torque, advancements in cooling technology, and the sustained production and adoption of vehicles, including passenger cars, light commercial vehicles, trucks, and buses. The market is likely to witness innovations in design, with various types of charge air coolers such as air-cooled and liquid-cooled systems, each serving specific purposes in cooling engine air for optimized combustion and performance.
The automotive charge air cooler research report is one of a series of new reports from The Business Research Company that provides automotive charge air cooler market statistics, including automotive charge air cooler industry global market size, regional shares, competitors with automotive charge air cooler market share, detailed automotive charge air cooler market segments, market trends and opportunities, and any further data you may need to thrive in the automotive charge air cooler industry. This automotive charge air cooler research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive charge air cooler market size has grown rapidly in recent years. It will grow from $2. 9 billion in 2023 to $3. 2 billion in 2024 at a compound annual growth rate (CAGR) of 10. 5%. The historical growth of the automotive charge air cooler market can be attributed to factors such as the implementation of stringent emission standards, the pursuit of engine performance optimization, a heightened demand for enhanced fuel efficiency, and the changing preferences and driving habits of consumers.
The automotive charge air cooler market size is expected to see strong growth in the next few years. It will grow to $4. 56 billion in 2028 at a compound annual growth rate (CAGR) of 9. 3%. In the forecast period, the anticipated growth of the automotive charge air cooler market can be linked to the rising adoption of hybrid powertrains, the incorporation of advanced cooling technologies, an increase in electric and hydrogen fuel cell vehicles, and a heightened focus on thermal management for electric vehicles (EVs). Notable trends expected in this period include the development of lightweight and compact coolers, the integration of advanced materials in cooler construction, the adoption of liquid-cooled charge air coolers, customization of coolers tailored to diverse vehicle applications, and the enhancement of heat exchanger efficiency to achieve improved performance.
The surge in demand for commercial vehicles stands poised to propel the growth of the automotive charge air cooler market. Commercial vehicles, primarily used for transporting goods, passengers, or specialized tasks for economic purposes, benefit from automotive charge air coolers that optimize engine performance by cooling compressed air before entering the engine. This process ensures heightened combustion efficiency, leading to increased power output and fuel efficiency. Notably, reports from Pandaily in July 2022 highlighted a 49. 4% year-on-year sales volume increase of commercial vehicles, totaling 168,000 units. Similarly, in May 2021, demand for new commercial vehicles in Germany surged by 46. 4% from the previous year, underscoring the significant role played by this increased demand in driving the automotive charge air cooler market forward.
The growing demand for electric vehicles (EVs) is anticipated to fuel the expansion of the automotive charge air cooler market. EVs, powered by electric motors and batteries, incorporate charge air coolers in range extenders or hybrid configurations to optimize internal combustion engine performance, enhancing overall efficiency and power output. Reports from the World Economic Forum in October 2022 revealed that approximately 4. 3 million new battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022, marking significant year-over-year growth. India also experienced a substantial surge, with retail sales of EVs reaching 390,399 units in the first half of 2022, marking a remarkable 333% year-over-year growth. These statistics underscore the pivotal role of the increasing demand for electric vehicles in driving the automotive charge air cooler market's growth trajectory.
Companies within the automotive charge air cooler market are concentrating on implementing high-performance engines to enhance fuel consumption. High-performance engines aid in efficiently cooling the engine oil, preventing overheating. Tata Autocomp's development of a new generation iSMART in April 2021 exemplifies this trend, featuring lighter weight and higher cooling efficiency. Additionally, the company introduced slim condensers, low-pressure drop charge air coolers, efficient fan-motor assemblies, and compact header-less EGR coolers as part of their innovation drive towards high-performance engines, emphasizing advancements aimed at improving fuel consumption.
Prominent companies within the automotive charge air cooler market are actively engaged in the development of Water Charge Air Coolers (WCAC) as a strategic move to gain a competitive edge. A Water Charge Air Cooler (WCAC) functions as a heat exchanger utilizing water as a cooling medium, specifically designed to augment the efficiency of turbocharged and supercharged internal combustion engines by reducing the temperature of compressed air before entering the engine. An illustrative example occurred in June 2022 when Conflux Technology, an Australia-based additive manufacturing (AM) company specializing in thermal and fluid applications, introduced a high-performance Water Charge Air Cooler (WCAC). This innovative WCAC, a 3D printed heat exchanger, aimed to surpass existing microtube WCACs in performance metrics. Compared to its predecessors, this WCAC boasted a 15% reduction in core volume, a 24% decrease in air-side pressure drop, and an impressive 82% reduction in coolant pressure drop. Notably, its adaptability allows customization to suit diverse vehicle requirements, highlighting its flexibility in application.
In September 2023, Modine, a US-based company specializing in innovative thermal management technology and solutions, inked an agreement to divest three Modine businesses in Germany to affiliates of Regent LP, a Los Angeles-based investment firm. These businesses focus on manufacturing radiators, charge air cooler modules, and exhaust gas recirculation coolers specifically utilized in automobiles featuring internal combustion engines. This strategic move by Modine aims to streamline its business focus while potentially allowing Regent LP affiliates to leverage and advance these automotive component segments further.
Major companies operating in the in the automotive charge air cooler market report are Banco Products Ltd., Calsonic Kansei Corporation, Dana Incorporated, Delphi Technologies plc, Denso Corporation, Du Pont De Nemours and Company, Modine Manufacturing Company, Valeo SA, Vestas Aircoil AS, MAHLE GmbH, Hanon Systems Corporation, C G & J Inc., T RAD Co. Ltd., Magneti Marelli SpA, Robert Bosch GmbH, Continental AG, Aisin Seiki Co Ltd., Johnson Electric Holdings Limited, KSPG AG, Magna International, SHW AG, ZF Friedrichshafen AG, Concentric AB, HELLA KGaA Hueck & Co., Hitachi Automotive Systems Ltd., JTEKT Corporation, Rheinmetall Automotive AG, MS Motorservice International GmbH, GMB Corporation, Pierburg GmbH
Asia-Pacific was the largest region in the automotive charge air cooler market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive charge air cooler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive charge air cooler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive charge air cooler market consists of sales of passive, thermoelectric, absorption, and compressor coolers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.