Global Automotive Charge Air Cooler Market Drivers 2024, Forecast To 2033
14 Feb, 2024
The automotive charge air cooler market has experienced rapid growth, climbing from $2.9 billion in 2023 to $3.2 billion in 2024, with a CAGR of 10.5%. This growth is attributed to stringent emission standards, optimization of engine performance, increased demand for fuel efficiency, and changes in consumer preferences and driving habits. The forecast period is expected to see strong growth, reaching $4.56 billion in 2028, with a CAGR of 9.3%. Drivers for this growth include increased adoption of hybrid powertrains, integration of advanced cooling technologies, growth in electric and hydrogen fuel cell vehicles, and an emphasis on thermal management for electric vehicles (EVs). Notable trends in the future include the development of lightweight and compact coolers, integration of advanced materials in cooler construction, adoption of liquid-cooled charge air coolers, customization of coolers for different vehicle applications, and enhancement of heat exchanger efficiency for improved performance.
Global Automotive Charge Air Cooler Market Key Driver
The increase in demand for commercial vehicles is poised to drive the automotive charge air cooler market. Commercial vehicles, essential for transporting goods and passengers, witness growing sales volumes. Notably, commercial vehicle sales in China recorded a significant year-on-year increase of 49.4%. Germany experienced a 46.4% growth in demand for new commercial vehicles in May 2021. The sustained rise in demand for commercial vehicles underscores the pivotal role in propelling the automotive charge air cooler market.
Get A Free Sample Of The Global Automotive Charge Air Cooler Market ReportGlobal Automotive Charge Air Cooler Market Segments
The automotive charge air cooler market covered in this report is segmented –
1) By Type: Air-Cooled, Liquid-Cooled
2) By Design: Tube & Fin, Bar & Plate
3) By Fuel Type: Gasoline, Diesel
4) By Vehicle: PC, LCV, Truck, Bus
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major Automotive Charge Air Cooler Industry Players
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
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Automotive Charge Air Cooler Market Overview
The automotive charge air cooler is designed to cool down the heated intake air that comes from the compressor or turbocharger. The turbo charger compresses air at a high temperature, which lowers the density of the air, resulting in less oxygen being present during combustion. These components maintain and improve power output and torque in vehicles.
Automotive Charge Air Cooler Global Market Report 2023 provides data on the global automotive charge air cooler market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive charge air cooler market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.