New York, US, Feb. 16, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Intercooler Market Research Report: Information By Type, Engine Type, Vehicle Type, and regions– Forecast till 2030”, During the forecast period, the automotive intercooler market is anticipated to increase by USD 16,290 million at a CAGR of 5.01%.
Automotive Intercooler Market Overview
A mechanical device known as an intercooler is used to cool both liquid and gaseous vehicle fluids. It is used in automobiles as an air-to-air and air-to-water cooler for internal combustion engines that are turbocharged and supercharged. By increasing the air intake density through cooling at constant pressure, they are fitted in cars to increase volumetric efficiency. By cooling down the heat produced by the supercharger or turbocharger, the intercooler in a car is utilised to increase the effectiveness of the induction system. Any gas that has its pressure increased produces heat when it reaches a high temperature, which is removed by an intercooler.
The key players in automotive intercooler market include
- Bell Intercoolers (U.S.)
- Forge Motorsport Inc (U.S.)
- KALE Oto Radyator (Turkey)
- Mishimoto (U.S.)
- PWR (Australia)
- Modine Manufacturing (U.S.)
- Treadstone Performance Engineering (U.S.)
- Guangzhou Woshen Auto Radiator (China)
- JC Performance Parts (China)
- KVR International (U.S.)
- Honeywell International Inc. (U.S.)
- Among others.
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The design of turbochargers and superchargers pushes more air into the engine manifold and combustion chamber. The intercooler balances off the heat created by a supercharger to increase the vehicle's efficiency. Air to air and air to water intercoolers are the two main types. Air is cooled with air using an air-to-air intercooler. Air that has been charged through the charge pipes and air that is passing through the intercooler exchange heat.
Growing demand in the automotive sector, technological advancements, and significant investment by automakers are the reasons driving the growth of the automotive intercooler market. Between 2015 and 2016, there was a rise in the sales of both passenger and commercial vehicles. Vehicle sales as a whole were at 89.6 million units in 2015 and 93.8 million units in 2016.
Automotive Intercooler Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | 2030: USD 16,290 Million |
| CAGR during 2022-2030 | 5.01% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increasing the air intake density through cooling at constant pressure |
| Key Market Drivers | Improve the efficiency of the induction system |
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The usage of intercoolers in automobiles to promote economy will rise as a result of the increase in vehicle sales. The automobile industry is heavily spending in R&D to create technology that will increase vehicle efficiency and lessen its environmental impact. They are also concentrating on investing in R&D to obtain a competitive advantage over rivals.
Automotive Intercooler Market Segmentation:
Type, engine type, and vehicle type are the categories used to segment the automotive intercooler market.
The market is divided into air to air and air to water segments based on type. Due to its ease of installation and high efficiency, the air to liquid sector is anticipated to rule the market throughout the forecasted period. Because there is an endless supply of cooling water, air to air intercoolers are the most popular type of intercooler. Because it uses less electricity and doesn't use any liquid, there will be no leakage, this market is predicted to grow at the greatest CAGR.
The market is divided into two categories based on the kind of vehicle: passenger cars and commercial vehicles. Due to an increase in passenger vehicle sales in emerging nations, passenger cars are anticipated to dominate the market during the forecast period. The demand for intercoolers in automobiles will rise as the number of passenger car sales rises.
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Automotive Intercooler Market Regional Overview
The market is divided into four categories based on geography: North America, Asia Pacific, Europe, and the Rest of the World. Due to a growth in the production and sales of both passenger and commercial vehicles, the Asia Pacific region is anticipated to dominate the market over the forecast period. Automobile producers in Asia-Pacific are making significant investments in the creation of cutting-edge products to compete in the market.
China is anticipated to control the market in Asia Pacific over the projected period because Chinese automakers are creating new, trade-friendly rules that allow them to build more vehicles. Due to a rise in the demand for new passenger and commercial cars, North America is anticipated to be the second-largest market.
When it comes to investments in the automotive industry, North America has a developed economy. Due to the increasing demand for passenger automobiles, the automotive industry anticipates significant investments from various titans by the year 2030. The need for intercoolers in automobiles will rise as a result of this increasing expenditure.
Due to the presence of significant vehicle businesses, the United States is anticipated to dominate the industry in North America. The United States is recognised as a significant contributor to the automotive sector. Despite being a mature economy, the expanding migrant population has significantly increased demand for passenger vehicles, LCVs, and HCV.
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The installation of intercoolers in vehicles will rise with the demand for passenger cars, LCVs, and HCV. Due to fierce rivalry in the automobile sector, Europe is predicted to be the third-largest market. Germany is anticipated to control the European market over the prediction period.
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