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Automotive Intercooler Market Analysis

ID: MRFR//1562-HCR | 110 Pages | Author: Swapnil Palwe| June 2024

The elements that can be chargeable for the boom of the automotive intercooler market are developing demand inside the automobile industry, development in technology, and heavy investment through car producers. There has been an increase in the sales of passenger and industrial cars from 2015 to 2016. In 2015, the overall car sales were approximately 89.6 million units, while in 2016, they reached 93.8 million units. This upward thrust in the income of motors will result in expanded use of intercoolers inside the vehicles to enhance the performance of the car. Automotive manufacturers are making heavy investments in R&D to increase technology so as to improve the performance of the car and reduce the environmental effects of the automobile. They're specializing in investing in R&D to take advantage of an aggressive side over friends. The automotive intercooler market is formed by means of diverse factors that influence its growth, innovation, and adoption across the automobile enterprise. One pivotal component is the growing trend towards downsized engines and turbocharging. Automakers are adopting an increasing number of smaller, extra gasoline-green engines while preserving or even improving performance.
Turbocharging and supercharging technologies, employed to enhance engine strength, generate better air pressure that needs cooling earlier than coming into the engine. Moreover, stringent emission rules globally have emerged as a force inside the automotive intercooler market. Governments internationally have imposed strict emissions requirements to mitigate environmental impact. Intercoolers are useful resources in reducing emissions by enhancing engine efficiency, leading to purifier combustion, and reducing pollutants in exhaust gases. Additionally, technological advancements in intercooler design and materials play a pivotal role in shaping the market. Manufacturers are constantly innovating to beautify intercooler efficiency, sturdiness, and overall performance.
Furthermore, the continuing electrification trend within the car quarter has additionally impacted the intercooler market. As hybrid and electric-powered vehicles gain prominence, intercoolers serve a one-of-a-kind role past traditional inner combustion engines. However, challenges persist in the automotive intercooler market. The complexity of modern engine systems poses demanding situations for intercooler producers in the assembly of stringent performance necessities while balancing factors like size, weight, and value. Integrating intercoolers into vehicles without compromising their overall performance or aerodynamics poses another sizeable assignment, as automakers' goal is to optimize space and improve automobile performance. The automotive intercooler market is formed by a confluence of things, which include downsized engines and turbocharging developments, regulatory pressures for emissions discounts, improvements in design and materials, and the influence of electrification in automobiles.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, Engine Type, Vehicle Type, and Region

Automotive Intercooler Market Overview:

The Automotive Intercooler Market size was valued at USD 11.44 Billion in 2023. The Automotive Intercooler industry is projected to grow from USD 12.01 Billion in 2024 to USD 16.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.37% during the forecast period (2024 - 2032). Intercoolers are crucial for cooling compressed air, and the expansion of the worldwide automotive turbocharger industry directly influences the market under study. Additionally, the desire for the vehicle's thermoelectric generator, which is intended to significantly improve engine efficiency, is being fueled by rising environmental concerns. The global market for automotive intercoolers is expected to grow as a result. As a result of the strict rules that various countries have implemented regarding car emissions, the global market for automotive intercoolers is the key market driver enhancing market growth.

Automotive Intercooler Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Intercooler Market Trends

Increasing demand in the automotive industry the market growth

The increasing demand in the automotive industry is driving Market CAGR. The demand for automobiles, especially passenger cars, is being greatly fueled by rising buying power and living standards and expanding urbanization. This supports the market expansion of automotive intercoolers. The strict vehicle emission laws imposed across several areas or nations are another significant factor driving the global automotive intercooler market. Automobile intercoolers enable a decrease in air temperature, which improves engine performance and output. Furthermore, by providing the engine with enough oxygen to maintain the air-to-fuel ratio and ensure optimal and efficient combustion, intercoolers meet the rigorous fuel efficiency criteria.

Furthermore, automobile manufacturers are actively investing their resources and funds into the research and development of innovative products and countermeasures to decrease the pollution output from automobiles.

In the coming five years, it is projected that favorable policies, increasing government backing, and more investment in the industry will all contribute to the growth of the worldwide automotive intercooler market. A government program called the CAFE standard, which mandates an automobile be 30% more fuel-efficient, was launched in 2016 in the United States and throughout North America. This compels automakers to advance turbocharger and intercooler technology, which will help the global automotive intercooler market expand over the next five years.

For instance, In December 2021, A European premium OEM will boost its current engines with BMTS Technology's turbocharger technology with petrol FNT. This robust mid-size petrol engine features a turbocharger that continues operating at exhaust gas temperatures exceeding 1000°C to comply with the higher Euro 7 emissions criteria. With this nomination, BMTS broadens the scope of its petrol FNT product line and its client base. Thus, driving the automotive intercooler market revenue.

Automotive Intercooler Market Segment Insights:

Automotive Intercooler Type Insights

The global automotive intercooler market segmentation, based on type, includes air to air and water. Air-to-Air category dominate the market during the forecast period. These are more commonly used in gasoline-powered vehicles, especially turbocharged and supercharged engines. They rely on ambient air to cool the compressed air before it enters the engine, making them more straightforward to design, install, and maintain. They are often the preferred choice for performance-oriented vehicles, as they can handle higher temperatures and provide more efficient cooling under heavy load conditions.

Air-to-water intercoolers can provide more efficient cooling compared to air-to-air intercoolers. The use of liquid coolant allows for better heat transfer, leading to a reduction in intake air temperatures. Lower intake air temperatures result in denser air entering the engine, which improves combustion efficiency and increases engine performance.

Automotive Intercooler Engine Type Insights

The global automotive intercooler market segmentation, based on engine type, includes supercharged gasoline, turbocharged diesel, and conventional diesel. Turbocharged diesel category accounted for the largest market share by engine type in 2022. During the forecast period, the number of turbocharged cars is anticipated to rise, raising the need for intercoolers. E-Turbo reduces the amount of power required to recharge the hybrid battery. Additionally, the market for automobile turbochargers is strongly tied to the development of the intercooler industry. As a result, the rising demand for turbochargers greatly enhances the market for automobile intercoolers.

Automotive Intercooler Vehicle Type Insights

The global automotive intercooler market segmentation, based on vehicle type, includes passenger and commercial. The passenger segment has dominated the automotive intercooler market. Passenger vehicles, including cars, SUVs, and other personal transportation vehicles, have been the largest consumers of intercoolers due to the widespread use of turbochargers and superchargers. Intercoolers are essential components in turbocharged and supercharged engines as they help cool the compressed air before it enters the engine, which improves combustion efficiency and engine performance.

Figure 1: Global Automotive Intercooler Market by Vehicle Type, 2024 & 2032 (USD Billion)

Global Automotive Intercooler Market by Vehicle Type, 2023 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Intercooler Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the global automotive intercooler market. The North American region has been progressively implementing stricter emission standards for vehicles. Intercoolers are crucial in improving engine efficiency and reducing emissions, making them essential components for complying with these regulations.

Moreover, the popularity of sports cars and high-performance vehicles in North America has also contributed to the growth of the intercooler market, as these vehicles often come equipped with turbochargers or superchargers. Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Automotive Intercooler Market Share By Region 2024 (Usd Billion)

Global Automotive Intercooler Market Share By Region 2023

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe automotive intercooler market accounts for the second-largest market share due to factors such as Europe being home to several prominent automobile manufacturers, many of which offer vehicles with turbocharged engines. As turbocharger adoption increases, so does the demand for intercoolers. The interest in electric turbochargers (e-turbos) in Europe has increased. These advanced turbochargers require sophisticated intercooler solutions, driving the demand for intercoolers in the region. Further, the German automotive intercooler market held the largest market share, and the UK automotive intercooler market was the fastest-growing market in the European region.

The Asia-Pacific Automotive Intercooler Market is expected to grow at the fastest CAGR from 2024 to 2032. Asia Pacific has experienced significant growth in the automotive sector, with countries like China, Japan, and India being major players. As the region's automotive industry expands, so does intercooler demand. Turbocharged engines have gained popularity in the Asia Pacific region due to the emphasis on fuel efficiency and performance. Intercoolers are essential components in these turbocharged powertrains. Moreover, China’s automotive intercooler market held the largest market share, and the Indian automotive intercooler market was the fastest-growing market in the Asia-Pacific region.

Automotive Intercooler Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the automotive intercooler market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The automotive intercooler industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global automotive intercooler industry to benefit clients and increase the market sector. In recent years, the automotive intercooler industry has offered some of the most significant medical advantages. Major players in the automotive intercooler market, including bell intercoolers, forge motorsport Inc, Kale Oto Radyator, Toyota, Mishimoto, PWR, Ford, Modine Manufacturing, JC Performance Parts, KVR International, PT Toyota-Astra Motor (TAM), and others, are attempting to increase market demand by investing in research and development operations.

Toyota Motor Corporation, Japan's leading automotive manufacturer, and Astra International, an Indonesian diversified conglomerate interested in various industries, including automotive, financial services, and heavy equipment. The company was established in 1971 and is headquartered in Jakarta, Indonesia. TAM serves as the authorized distributor and manufacturer of Toyota vehicles in Indonesia. For instance, in October 2022, In addition to launching the all-new Land Cruiser SUV, PT Toyota-Astra Motor (TAM) also introduced the updated Fortuner, now offered with the option of a brand-new diesel engine with the designation 1GD-FTV. This 2,755-cc 1GD FTV, in-line, four-cylinder, DOHC, VNT intercooler engine has a maximum power output of 203.9 PS at 3,000–4,000 rpm and 50.9 kgm at 1,600–2,800 rpm.

Mishimoto is an automotive aftermarket company based in the United States. It was founded in 2003 and is headquartered in New Castle, Delaware. The company primarily designs, develops, and manufactures high-quality performance parts and accessories for various vehicles, including cars, trucks, and motorcycles. Mishimoto's product lineup includes various cooling solutions, such as radiators, oil coolers, intercoolers, and silicone hoses. For instance, in 2021, Mishimoto, who already has a catch, launched their intercooler pipe improvement and can go for the 2.3t in the Ranger. According to claims made by the intercooler, their configuration on the standard tune produced +11 whp and +22 wtq. According to some reports, the stock tune is pulling time to compensate for the increased air volume.

Key Companies in the automotive intercooler market include

  • Bell Intercoolers

  • Forge Motorsport Inc

  • Kale Oto Radyator

  • Toyota

  • Mishimoto

  • PWR

  • Ford

  • Modine Manufacturing

  • JC Performance Parts

  • KVR International

  • PT Toyota-Astra Motor (TAM)

Automotive Intercooler Industry Developments

April 2022: The 1.6-liter in-line three-cylinder intercooler turbo engine featured in the GR Yaris, which has a maximum output of 224 kW (304 PS), powers the brand-new GR Corolla in the USA for the first time.

February 2021: Ford Performance revealed improvements to the mid-engine Ford GT, including increased engine output of 13 to 660 horsepower and better cooling. The 3.5-liter EcoBoost twin-turbo V6 engine in the 2020 GT has been mechanically improved with gallery-cooled pistons, higher-energy ignition coils, a wider torque band and altered engine calibration.

Automotive Intercooler Market Segmentation:

Automotive Intercooler Type Outlook

  • Air to Air

  • Air to Water

Automotive Intercooler Engine Type Outlook

  • Supercharged Gasoline

  • Turbocharged Diesel

  • Conventional Diesel

Automotive Intercooler Vehicle Type Outlook

  • Passenger

  • Commercial

Automotive Intercooler Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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