Newark, July 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 16.71 billion in 2023 global automotive intercooler market will reach USD 27.85 billion by 2033. A combination of ICEs and electric drives is becoming common in new models as auto manufacturers and suppliers look for ways of improving efficiency and emission standards. Intercoolers are concerned with cooling air intake for the turbocharged engines applied in hybrid power trains. With these innovations, new optimized intercoolers for hybrid cars will emerge, which is likely to bring new opportunities for the manufacturers of intercoolers with the development of new intercoolers for new hybrid modes. Also, there are complex structures and designs in the current automobiles due to the continuous efforts of the auto industry to use the new generation of materials and manufacturing methods to enhance overall efficiency, lightness, and sturdiness. As this trend emerges, intercooler makers can integrate lightweight materials like worm and Pearson aluminium alloys, carbon-fiber composites and advanced polymers into their units. Furthermore, as a part of advanced manufacturing technologies such as additive manufacturing, only known as 3D printing, complex intercooler design is allowed with superior staking performance. In these areas, intercooler manufacturers should invest in advanced materials and manufacturing processes to enhance competitiveness and capture market opportunities that will arise within the automotive industry.
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Furthermore, there is a growing need to boost thermal systems efficiency, given the higher levels of electrification in automobiles and ADAS and connectivity solutions. Intercoolers are responsible for cooling outputs of diverging vehicle parts for the efficiency and effectiveness of vehicles. Intercooler manufacturers can employ their thermal know-how in devising complete cooling packages for VOs to control thermal parameters as per the changes in VOCs and enhance vehicle performance and energy efficiency.
Key Insight of the global Automotive Intercooler market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Globally, the Asia Pacific region stands out as the leading region for automobile manufacturing, with major contributors being China, Japan, South Korea, and India. High disposable income, growth in urbanization, sound infrastructural development and favourable government policy towards encouraging the local auto industry are the major factors driving the automotive market growth in the specified region. These implications suggest that as automotive production and sales expand in Asia Pacific Countries, the need for intercoolers, important features in turbocharged engines, will also increase. Moreover, the Asia-Pacific region is one of the world’s biggest automotive components and technology hubs, where many brands are constantly developing new, unique solutions to maximize intercooler performance with the help of R&D. These investments catalyze improvements in manufacturing and design of the intercooler technology and its components so that it can be developed to be cost-effective and durable. Therefore, perpetual technological advancement in the application of intercooler technologies is expected to create significant growth in Asia. In addition, the global automotive aftermarket industry, especially in the Asia-Pacific region, has enormous growth potential, particularly due to the increasing demand for sophisticated automotive accessories. Performance intercooler kits and part upgrades are common on modern car models, as more admirers of machines are interested in increasing the efficiency of their vehicles. Aftermarket sales are on the rise in the car industry and offer certain opportunities for both intercooler manufacturers and suppliers to introduce more car-related performance products.
In 2023, the air to air intercoolers segment dominated the market with the largest share of 62.25% and revenue of 10.40 billion.
The type segment is divided into air to air intercoolers and water to air intercoolers. In 2023, air to air intercoolers segment dominated the market with the largest share of 62.25% and revenue of 10.40 billion.
In 2023, the turbocharged engines segment dominated the market with the largest share of 61.38% and revenue of 10.26 billion.
The engine type segment is classified into supercharged engines and turbocharged engines. In 2023, the turbocharged engines segment dominated the market with the largest share of 61.38% and revenue of 10.26 billion.
In 2023, the passenger cars segment dominated the market with the largest share of 67.18% and revenue of 11.23 billion.
The vehicle type segment includes passenger cars and commercial vehicles. In 2023, the passenger cars segment dominated the market with the largest share of 67.18% and revenue of 11.23 billion.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 5.24% |
| 2033 Value Projection | USD 27.85 Billion |
| Market Size in 2023 | USD 16.71 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Type, Engine Type, Vehicle Type, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Automotive Intercooler Market Growth Drivers | Turbocharged Engine's Ever-increasing Requirement |
Advancement in market
In June 2022: Conflux Technology, a well-established and famous supplier of heat exchangers, has disclosed its most delinquent invention: a novel full-vehicle assembled water charge air cooler manufactured by integrating the latest approach of 3D printing. This next-generation product, as mentioned, can synchronize with several modern car models in the marketplace today, in which designs are depicted.
Market Dynamics
Driver: Improvements in intercooler tools.
Intercooler technological and manufacturing enhancements have been compulsory to boost the functionality of intercoolers in the current generation of industries, notably automobile engineering. Another profound factor that has emerged in the intercooler systems showing their design trends is featherweight material, including composite material and aluminium alloy. The attributes of aluminium alloy make it flawless for use in applications that mandate strength with minimum weight, making aluminium alloys promising when used to manufacture intercoolers. Furthermore, automotive materials such as CFRP or carbon fibre-reinforced polymers are gaining ownership due to their increased tensile strength and low density, thus lessening vehicle weights and fuel consumption. Intercooler technologies are also entering the process of evolution, thus enhancing cooling innovation. One of them is the liquid-cooled intercoolers, in which, instead of air, liquid coolant flows through passages inside of the intercooler to remove heat better. One of the benefits of liquid cooling is well-regulated temperature regulation and flow that ultimately produces the best cooling despite the operating vibrations. The next phase is executing heat exchanger technology in intercoolers. Heat exchangers, which employ thermal transfer operations, are crucial in cooling the air intake temperature for top-notch engine performance. This factor leads to a higher air density; thus, the engines' efficiency increases when running at top altitudes. As a result, intercooler technology has developed over the years, and automotive and aftermarket manufacturers have moved towards promoting new and profitable solutions. Such investments increase the intercooler market's expansion and growth, developing the need for more efficient and suitable inter-cooler systems.
Restraint: Limited adoption in non-turbocharged engines.
Inherently, aspirated engines draw air into the combustion chamber through the natural pressure in the atmosphere; thus, there is no need for any forced induction device such as a turbocharger or a supercharger to compress the air. Since there is no forced induction, no significant increase in air temperature necessitates intercooling. As such, vehicles with inherently aspirated engines commonly do not operate intercoolers to enhance performance or other aspects of performance. Diesel hybrid powertrains, on the other hand, feature an ICE along with one or more electric motors for powering the vehicle. In many hybrid configurations, the engine starts, stops, or runs simultaneously with an electric motor, thus lessening the dependence on conventional engine-driven forced induction. In hybrid cars, the use of intercoolers may be less required, thereby reducing the size of the market for intercooler manufacturers. Intercoolers are not widely used for naturally aspirated engines and hybrid drives; this presents a problem for intercooler manufacturers seeking to diversify their client base.
Opportunity: Growth of intercoolers in evolving markets.
The strong and fast-growing automobile manufacturing industry is one of the main emerging economy prospect areas. These relatively new industrialized economies have recorded high economic growth, leading to higher demand for various goods and services, including passenger and commercial vehicles. This aspect has translated to a greatly increased vehicle manufacturing in which carmakers use turbochargers and, eventually, intercoolers to meet performance and emission requirements in these regions again. Further, increased disposable income in global up-and-coming countries leads to increased upgrading consumption capability and desire for better and superior vehicle models furnished with enhanced technology, such as turbocharged engines with intercoolers. Finally, the global markets of automotive intercoolers are expected to exhibit steady growth as consumers ponder options for better vehicle performance and fuel efficiency. This factor has been enhanced by infrastructural development, such as expanding road infrastructure and improving transport and other systems that support the growth of the automotive industry, especially in emerging markets. These infrastructural development opportunities create calls for the sales of even more vehicles in the commercial vehicle segment that will, in most cases, require turbochargers and intercoolers for their heavy-duty operations. The following are some of the strategies available to this industry to harness the growth possibilities associated with emerging markets adequately. It will also enable them to harness established distribution networks and local information through strategic partnerships with local distributors, suppliers, or manufacturers of automobiles. Companies require help dealing with local legislation and other cultural and organizational issues to overcome the barriers, a few of which are mentioned below. Another realizable growth strategy is to increase investments in the manufacturing base since this will help overcome many problems, such as high transport and import fees. Manufacturing products locally also has advantages, as local manufacturers can quickly adapt to the shifts in demand and meet customers' needs and expectations. In addition, it is crucial to develop offerings that would meet the needs of these consumers so that players could succeed in emerging markets. This aspect could encompass modifying intercooler designs based on the characteristics of these markets, including the vehicles used, the climate, and the performance anticipated in these emerging markets. These insights will help manufacturers become preferred suppliers to consumers from these markets since they understand the emerging markets' economic conditions, trends, and strategies.
Challenge: Supply chain disruptions and material sourcing.
A brief supply chain disruption affects the automotive industry since many components, raw materials, and production equipment come from various countries. When disturbances happen, for instance, through tariffs in trade conflicts, earthquakes regarding production locations or geopolitical risks regarding shipment tracks, the availability and cost of input resources may vary. In matters concerning the supply of speciality materials and parts essential for the production of intercoolers, such disruptions result in several challenges in setting production schedules, and higher costs are inevitable. Some disruptions can be minor; others can extend to the supply chain, impacting the procurement of key resources, transportation, and manufacturing timetables. Thus, intercooler manufacturers may need to help fulfil the produced demands on time and potentially increase costs simultaneously if they have to look for other materials or opt for fast shipping to make up for such issues.
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Some of the major players operating in the global Automotive Intercooler market are:
• Bell Intercoolers
• Ford
• Forge Motorsport
• Garrett Motion Inc.
• JC Performance Parts
• Kale Oto Radyator
• KVR International
• Modine Manufacturing
• Mishimoto
• MAHLE GmbH
• Nismo Motorsports International
• Nissens Automotive A/S
• NRF Global
• PT Toyota-Astra Motor (TAM)
• PWR Holdings Ltd.
• Toyota
• Treadstone Performance Engineer
• Valeo
Key Segments cover in the market:
By Type
• Air to Air Intercoolers
• Water to Air Intercoolers
By Engine Type
• Supercharged Engines
• Turbocharged Engines
By Vehicle Type
• Passenger Cars
• Commercial Vehicles
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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