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Automotive Charge Air Cooler Market Analysis, Trends, Growth and Forecast 2021 to 2026

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Automotive Charge Air Cooler Market Analysis, Trends, Growth and Forecast 2021 to 2026

June 25
02:48 2021
Automotive Charge Air Cooler Market Analysis, Trends, Growth and Forecast 2021 to 2026

Attractive Opportunites in Automotive Charge Air Cooler Market
Automotive Charge Air Cooler Market by Type (Air-cooled, Liquid-cooled), Position(Integrated, Standalone), Design(Tube & Fin, Bar & Plate), Fuel Type(Gasoline, Diesel), Vehicle(PC, LCV, Truck, Bus), Material, Sales Channel & Region-Global Forecast to 2026

The Automotive charge air cooler market is estimated to be USD 2.8 Billion in 2021 and is projected to grow to USD 3.9 Billion by 2026, at a CAGR of 7.1% during the forecast period. Automotive charge air coolers are used to reduce fuel consumption and CO2 emissions in combination with turbocharging. These components maintain and improve power output and torque in vehicles. As the degree of turbocharging increases, the necessity of cooling the heated air grows. In vehicles, charge air coolers primarily function on increasing engine combustion efficiency. Thus, charge air coolers play a critical role in cooling the engine. Government regulations of carbon emissions and rising performance demand for ICE vehicles is growing significantly. This has encouraged the use of turbocharged/supercharged engines along with downsizing. With the trend of engine downsizing in the automotive industry, automakers and manufacturers are focused on reducing fuel consumption and increasing the efficiency of vehicles.

The North American region is estimated to be the fastest-growing market for automotive charge air coolers. The North American automotive charge air cooler market is governed by some of the key players such as Dana Incorporated and Modine Manufacturing Company. The region is dominated by gasoline-fueled premium cars, SUVs, and pickup trucks. These vehicle segments require higher consumption of thermal components to offer effective heat dissipation and engine cooling. As a result, the big players are partnering with thermal component manufacturers to develop enhanced components. For instance, in May 2017, Dana developed a technologically advanced heat exchanger for the induction-air system on FCA’s 2018 Dodge Challenger SRT Demon model. This is the first model of FCA that comes with a factory-fitted refrigerated liquid-to-air charge air cooling system. Such developments and partnerships between OEMs and component providers are expected to drive the sales of charge air coolers in the North American region.

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The North American region is estimated to be the fastest-growing market for automotive charge air coolers. The North American automotive charge air cooler market is governed by some of the key players such as Dana Incorporated and Modine Manufacturing Company. The region is dominated by gasoline-fueled premium cars, SUVs, and pickup trucks. These vehicle segments require higher consumption of thermal components to offer effective heat dissipation and engine cooling. As a result, the big players are partnering with thermal component manufacturers to develop enhanced components. For instance, in May 2017, Dana developed a technologically advanced heat exchanger for the induction-air system on FCA’s 2018 Dodge Challenger SRT Demon model. This is the first model of FCA that comes with a factory-fitted refrigerated liquid-to-air charge air cooling system. Such developments and partnerships between OEMs and component providers are expected to drive the sales of charge air coolers in the North American region.

Air-cooled charge air coolers offer several advantages over liquid-cooled charge air coolers in terms of ease of installation, cost, and fairly good efficiency. Thus, air-cooled charge air coolers form the larger segment in the overall automotive charge air cooler market. The air-cooled charge air cooler segment is projected to grow from USD 1,849 million in 2021 to USD 2,464 million by 2026 at a CAGR of 5.9%. The liquid-cooled charge air coolers segment is expected to register a higher CAGR during the forecast period. Liquid-cooled charge air coolers offer higher efficiency, which is among the most important concerns for the conventional automotive industry. With a growing focus on improving engine performance and cooling efficiency, the liquid-cooled segment is expected to demonstrate a higher CAGR of 9.5% during the forecast period.

The integrated segment is estimated to register a faster CAGR due to the increasing choice of OEMs for liquid-cooled charge air coolers. These coolers are a flexible option for being integrated into vehicles. The smaller packaging space with reduced duct length, reduction in pressure loss, improvement in power and torque delivery, and enhanced efficiency are some of the key factors that foster the growth of liquid-cooled integrated charge air coolers. In addition, a liquid-cooled charge air cooler can be used in various configurations such as remote mounting as well as integrated into the intake manifold or supercharger housing. This contributes to the growth of the integrated segment of the charge air cooler market.

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Key Market Players:

The key players considered in the analysis of the Automotive charge air cooler market are MAHLE GmbH (Germany), T. RAD Co. Ltd. (Japan), Dana Incorporated (US), Valeo (France), and Modine Manufacturing Company (US). These companies offer extensive products for the automotive charge air cooler industry and have strong distribution networks, and they invest heavily in R&D to develop new products.

COVID-19 Impact on automotive charge air cooler Market:

The overall automotive industry faced significant production and sales decline of vehicles from 2019 to 2020. With lockdowns being administered by most countries to prevent the spread of the virus, OEMs and other component suppliers across North America, Europe, and Asia Pacific suspended operations at a number of their production locations. This heavily impacted the overall declining performance of automotive.

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