Charge Air Coolers Market size is estimated to surpass USD 25 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of charge air coolers was over USD 11 Billion.Charge air coolers are highly used for producing vehicles to regulate air intake temperature and increase engine efficiency.
Many key players operating in the market are focusing on bringing advanced and efficient cooling systems. Also, the rising demand for customized air charge coolers that meet the specific needs of different industries is anticipated to attract investments.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 6% |
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Base Year Market Size (2022) |
~ USD 11 Billion |
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Forecast Year Market Size (2035) |
~ USD 25 Billion |
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Regional Scope |
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The market share of air-cooled segment is attributed to be much higher with 59% by the end of the forecast period. Air-cooled charge air coolers are extensively used in the automotive sector. As vehicles require efficient cooling systems when operated, the charge air gets cooled with external ambient air with the help of air coolers.
Also, the many benefits of air-cooled charge air coolers such as cost-effectiveness, lightweight, simple design, increased reliability, and ease of operation are estimated to help in expanding the segment size.
End-Use (Automotive, Marine, Power Generation, Oil & Gas)
The automotive segment is poised to grow significantly and will hold a market share of 32% by 2035. The increasing number of vehicles across the world is a positive indicator of the surging demand for charge air coolers. By the end of 2022, there were more than 2 billion motor vehicles present across the globe.
Furthermore, the requirement for a powerful engine and the increased production of high-performance vehicles is also slated to bring lucrative growth opportunities for the segment.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Design |
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Position |
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End-Use |
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North American Market Forecast
North America region is estimated to be the highest with a market share of 38% by 2035. The rising focus on bringing optimum fuel efficiency in vehicles and the demand for highly-efficient vehicles by Americans are the key factors driving the market revenue. Furthermore, increasing spending capacity on highly developed technologies and new products will help flourish the market in the region.
APAC Market Statistics
The Asia Pacific charge air coolers market is set to account for 24% revenue share by the end of 2035. The manufacturers of charge air coolers are attracted to the Asia Pacific region owing to the large consumer base ready to adopt advanced charge air coolers for various products to increase their durability and reliability.
Additionally, countries present in the region including China, India, Japan, and South Korea are the leading exporters and importers of vehicles which are predicted to create a positive outlook toward market expansion in the region.
Author Credits: Harshita Srivastava, Saima Khursheed
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