Automotive Intercooler Market Size & Share, by Type (Air to Air, Air to Water); Engine Type (Supercharged Gasoline, Turbocharge Diesel, Conventional Diesel); Application (Passenger Vehicle, Commercial Vehicle) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4401
  • Published Date: Aug 02, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

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.


Automotive Intercooler Market
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Automotive Intercooler Sector: Growth Drivers and Challenges

Growth Drivers

  • Emerging Regulations for Reducing Nitrous Oxide (NOx) Emissions – The exhaust gas recirculation cooler (EGR-C) is a critical component in gasoline engine systems to reduce NOx emissions. Automotive Intercooler curbs NOx by releasing combustible gas into the engine.

It is estimated that over 2 million tons of NOx emissions are released into the environment from road vehicles around the world in 2021.

  • Upsurge in the Demand for Sports Cars and Golf Cart- There has been growing popularity among people about sports cars and golf cart that is further expected to drive automotive intercooler market growth.

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.

  • Complexity of the System
  • Possibility of Leakage of the Coolant

Automotive Intercooler Market: Key Insights

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

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Automotive Intercooler Segmentation

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

  • Air to Air
  • Air to Water

         Engine Type

  • Supercharged Gasoline
  • Turbocharge Diesel
  •  Conventional Diesel

         Application

  • Passenger Vehicle
  •  Commercial Vehicle

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Automotive Intercooler Industry- Regional Synopsis

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.

Research Nester
Automotive Intercooler Market Size
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Companies Dominating the Automotive Intercooler Landscape

top-features-companies
    • Mahle Gmbh
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Forge Motorsport Inc.
    • Bell Intercoolers
    • Mishimoto Automotive
    • Treadstone Performance Engineering Inc.
    • Honeywell International Inc.
    • PWR Holdings Limited (PWR)
    • KALE OTO RADYATÖR
    • Modine Manufacturing Company
    • Garrett Motion Inc.
    • Koyorad
    • HPI
    • Denso Corporation

In-the-news

In The News

  • Mahle Gmbh developed an innovative internal coating for fuel cell coolers that enables long fuel cell service life by combining maximum operational safety with high cooling performance. The coating does not require any heavy metals or other environmentally harmful chemicals.
  • Garrett Motion Inc. introduced cutting-edge turbocharging technologies for various commercial vehicles, such as dump trucks, cotton pickers, and sugarcane harvesters to raise overall vehicle fuel efficiency by over 15%, and help in increasing productivity.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 4401
  • Published Date: Aug 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing R&D spending in the automotive sector worldwide and the high prevalence of distillate fuels in transportation across the world are the major factors driving the growth of the market.

The market size of Automotive Intercooler is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Forge Motorsport Inc., Bell Intercoolers, Mishimoto Automotive, Treadstone Performance Engineering Inc., Honeywell International Inc., PWR Holdings Limited (PWR), KALE OTO RADYATÖR, Modine Manufacturing Company.

The air to air segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Automotive Intercooler Market Report Scope
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