Automotive Intercooler Market size is poised to reach USD 30 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023- 2035. In the year 2022, the industry size of automotive intercooler was USD 17 Billion. The reason behind the growth is impelled by growing R&D spending in the automotive sector worldwide. Research and development in any sector are a continuous process to improve the products. Moreover, the increasing research in the automobile industry is attributed to the high fuel prices, rising air pollution, and the global warming effects it causes. For instance, it was observed that in the year 2020, global R&D spending was more than USD 135 billion in the automotive sector.
The high prevalence of distillate fuels in transportation across the world are believed to fuel the automotive intercooler market growth. Distillate fuel is of higher quality and are commonly used in aviation industry, which require intercoolers to improve the power output and to optimize engine performance.
For instance, distillate fuels, primarily diesel accounted for 24% of total US transportation energy use in 2021.
Growth Drivers
It is estimated that over 2 million tons of NOx emissions are released into the environment from road vehicles around the world in 2021.
It is estimated that the unit sales of sports cars around the world are projected to reach around 919,000 vehicles in 2026.
Challenges
Stringent Emission Standards to Regulate Concentrations of Exhaust Emissions – Fuel vehicles produce a lot of emissions into the air, which causes an increase in the percentage of greenhouse gases in the environment. The government imposed strict regulations to reduce the leading problem of global warming across the world. Also, the rising adoption of electric vehicles to reduce air pollution is estimated to limit the growth of the market.
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~8% |
|
Base Year Market Size (2022) |
~ USD 17 Billion |
|
Forecast Year Market Size (2035) |
~ USD 30 Billion |
|
Regional Scope |
|
Type (Air to Water, Air to Air)
The air to air segment is estimated to hold 60% share of the global automotive intercooler market in the coming years owing to the rising sales of cars worldwide. This has led to higher demand for air-to-air intercoolers as it is the most common type of intercooler used by the automotive industries. Also, it doesn’t require any coolant except water, which is easily available anywhere. For instance, globally car sales reached around 66 million automobiles in 2021.
Engine Type (Turbocharge Diesel, Supercharged Gasoline, Conventional Diesel)
Automotive intercooler market from the turbocharge diesel segment is set to garner a notable share shortly on the account of rising usage of automotive turbochargers. These turbochargers increase the air temperature which can negatively impact the performance of the engine therefore, an intercooler is installed between the turbocharger outlet and the engine intake manifold to cool the air that has been compressed by the turbocharger before it enters the engine.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
Engine Type |
|
|
Application |
|
APAC Market Forecast
Automotive intercooler market in Asia Pacific is predicted to account for the largest share of 38% by 2035 impelled by the rapid urbanization. India's growing urbanization and increase in vehicle ownership have worsened traffic congestion in the country. This has raised the demand for efficient vehicles in the region to manage urban traffic, which necessitates the use of automotive intercoolers. In India, more than 40% of the population will live in urban areas by the middle of the year 2035.
North American Market Statistics
The North American automotive intercooler market is estimated to be the second largest, during the forecast timeframe led by increasing demand for passenger vehicles. Since many of the passenger vehicles are integrated with turbocharged engines, which is expected to rise the demand for automotive intercoolers in the region.
Author Credits: Rushikesh, Richa Gupta
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?