Focus on increasing the efficiency of several industrial equipment are projected to fuel the growth of the global Oil Coolers market at a CAGR of 6.24% during the forecast period 2023 to 2030.

Market Research Future (MRFR) has published a cooked research report on the “global Oil Coolers market” that contains the information from 2019 to 2030. The Oil Coolers market is estimated to register a CAGR of 6.24% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Oil Coolers market— MAHLE (Germany), AKG Group (Austria), Calsonic Kansei Corporation (Japan), PWR Corporate (Australia), NRF (Netherlands), Thermex (Russia), Earls Performance (United States), CBR Performance Products (Australia), Proflow (Australia) and RAAL (Slovenia).

Market Highlights

The global Oil Coolers market is accounted for to register a CAGR of 6.24% during the forecast period and is estimated to reach USD 2,237.72 Million by 2030.

The primary force behind the growth of the Oil Coolers market worldwide is the focus on increasing the efficiency of several industrial equipment. Growing focus across industries to increase the operational efficiency of various machining equipment and advantages of oil coolers are driving the market growth. Further, technological advancements are expected to provide a lucrative opportunity to the market players over the forecast duration.

An internal combustion engine's surplus heat is normally removed using oil cooling, which uses oil as a coolant. Heat is transferred from the hot engine to the oil, which typically goes via a heat exchanger next. Oil coolers have a number of benefits and drawbacks when used in heat exchangers, including Oil can be used to cool objects at temperatures that water cannot, as it has a higher boiling point than water. Given the variety of uses for which the fluids in heat exchangers are heated, high temperatures are to be expected. The oil cooler is intended to keep the temperatures from getting out of control. Engine oil and hydraulic fluids are cooled using oil coolers. The heat from the lubricant is transferred to the oil cooler, which is then cooled by the surrounding air or radiator coolant. In some installations, the radiator water tank houses the oil cooler as well. By doing that oil coolers do not increase the efficiency of the industrial equipment but protect them from possible failure and extend the equipment life as well. This factor, in turn, is likely to drive the demand for oil coolers in industrial applications.

Sales of oil coolers have increased as a result of technological improvements such as expanding the operating temperature range, sizing the device in accordance with the heat load of the system, utilizing automation techniques, and others. In this fiercely competitive market, manufacturers are continually refining their products through considerable research and development in order to meet customized and shifting demand. For instance, the AP Series or Kinetic Tube Series, a new oil cooler product from AKG Thermal Systems, has been introduced to the industrial hydraulics industry. It keeps the reservoir's temperature constant. The machines can function predictably because oil with a fixed viscosity has a stable temperature. Consistent oil flow to the heat exchangers is made possible by filtration and cleanliness, which eliminates dangerous surges. In order to optimize their supply chains, market actors have developed integrated sales channels. To prevent margin leakage, they have also formed direct ties with end users. Due to the rise in industrial manufacturing and construction, manufacturers have a potential chance to generate additional money as the number of hydraulic systems rises. Further, increasing demand for aluminum made oil coolers also provide a lucrative opportunity to the market players over the forecast duration.

Segment Analysis

The global Oil Coolers market has been segmented based on capacity, type, application and region.

Based on the capacity, the market has been segmented into below 10kW and above 10kW. Among them, the above 10kW segment dominated the global Oil Coolers market with a value of USD 895.46 million in 2022; with an expected CAGR of 5.84 % during the forecast period.  10kW oil coolers are basic models for industrial application. These oil coolers can be customizable according to the requirements. Amid growing demand for this category, manufacturers are introducing oil coolers that have seal-free immersion pumps, maintenance-free and electronically adjustable. Oil coolers come up with feed pressure indicator and level indicator. The demand for 10kW capacity oil coolers is gaining traction and widely used in high-end agricultural and industrial applications.

Based on type, the oil cooler market has segmented into 7 Row Oil Cooler, 10 Row Oil Cooler, 15 Row Oil Cooler, 19 Row Oil Cooler, and others. 10 Row Oil Cooler segments dominated the global Oil Coolers market with a value of USD 410.90 million in 2022: with an expected CAGR of 6.70 % during the forecast period. To cool down engine oil, the 10-row oil cooler functions somewhat similarly to a radiator. The friction that is produced when an engine rotates at a fast speed while under a heavy load transfers heat into the oil, which overheats and eventually breaks down, reducing lubrication and shortening engine life.

Based on the application, the market has been segmented into industrial, marine, agriculture and others. Among them, the industrial segment dominated the global Oil Coolers market with a value of USD 671.52 million in 2022; with expected CAGR of 5.99 % during the forecast period. Agriculture, automotive, chemical and petrochemical, construction and mining, energy and power, food and beverage, maritime, oil and gas, and other industries use oil coolers extensively. The cooler's size is directly inversely proportional to its heat load or cooling capability. However, prominent manufacturers have noted that identifying process parameters such as necessary flow rate, oil temperature threshold, oil viscosity, and others to achieve improved efficiency has been a challenging task.

Regional Analysis

Region-wise global Oil Coolers market has been divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest market share of 37.19% in 2022, with a market value of USD 512.64 million; the region is expected to register a CAGR of 6.94% during the forecast period. North America was the second-largest market in 2021, valued at USD 374.19 million; the market is projected to exhibit the highest CAGR of 5.53%.

The demand for oil cooler in the region is largely driven by the growing demand from India and China. These two countries are also the major exporters of oil coolers in the region. Half of the global market's demand for agricultural machinery is met in the Asia-Pacific region. The need for agricultural machinery is mostly driven by the declining worker force and growing farmer understanding of modern farming techniques. Additionally, as agricultural equipment becomes more technologically advanced, there will be a greater demand for used agricultural equipment. This will enhance revenue share, which will likely raise demand for oil coolers in the region.

In Nort America, in the industries of construction, mining, agriculture, etc., oil coolers are widely utilized. Oil coolers have sizable end-use vertical markets in the United States. The value of the American construction market in 2021 was US$ 1.9 trillion. Major building projects are now underway in the United States, including Amazon HQ2, whose budget is projected to be more than US$ 2.5 billion, the Central Valley project, whose budget is currently projected to be US$ 13.1 billion, etc. Given how frequently oil coolers are used in construction, the estimated hydraulic oil cooler sales in the nation are sizeable.

In the United States, where agriculture is also quite important, the industry generates US$ 157 billion annually. Farm tractors and other large pieces of machinery have hydraulic oil coolers fitted. The market for oil coolers in the United States is anticipated to grow as a result of increased penetration in the construction and agricultural industries.

Key Findings of the Study

• The global Oil Coolers market is expected to reach USD 2,237.72 Million by 2030, at a CAGR of 6.24% during the forecast period.


• Asia-Pacific held the largest market share of 37.19% in 2022.


• Based on Capacity, the Above 10 segment was attributed to holding the largest market in 2022, with an approximate market share of 64.96 %.


• Based on Type, the 10 Row Oil Cooler segment was attributed to holding the largest market in 2022, with an approximate market share of 29.81 %.


• Based on Application, the Industrial segment was attributed to holding the largest market in 2022, with an approximate market share of 48.71 %.


• MAHLE (Germany), AKG Group (Austria), Calsonic Kansei Corporation (Japan), PWR Corporate (Australia), NRF (Netherlands), Thermex (Russia), Earls Performance (United States), CBR Performance Products (Australia), Proflow (Australia) and RAAL (Slovenia).