January 05, 2023 08:47 ET | Source: Market Research Future Market Research Future
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New York, US, Jan. 05, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive Charge Air Cooler Market Research Report Information By Type, Engine Type, Design, Vehicle Type, Material, Sales Channel-Forecast 2030, the market is anticipated to acquire a valuation of approximately USD 4,078 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 6.8% during the assessment timeframe.
Automotive Charge Air Cooler Market Overview:
The automotive charge air cooler market is growing continually. The market is predominantly driven by the burgeoning automotive industry, witnessing increasing production capacity. Besides, rising disposable income and technological advancements in the field, alongside the growing demand for more efficient and environment-friendly charge air cooler systems, escalate the market value.
Automotive charge air cooler systems are heat exchangers designed to reduce elevated air temperature increased due to the compression process in turbocharged engines. Using charge-air cooler offers advantages such as higher engine performance, safety, value retention, and environmental protection. The lower combustion temperature means reduced NOx emissions. Moreover, the increased oxygen levels in the combustion chamber result in greater engine efficiency.
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Major players in the global automotive charge air cooler market include-
Automotive Charge Air Cooler Market Report Scope:
Browse In-depth Market Research Report (110 Pages) on Automotive Charge Air Cooler Market:
https://www.marketresearchfuture.com/reports/automotive-charge-air-cooler-market-11090
Increasing vehicle sales worldwide, alongside the introduction of high-performance engines and increased spending on new vehicle purchasing, fuel the market growth, attracting many investors. The demand for charge air coolers is increasing due to stringent emission targets. Besides, higher turbocharger outlet temperature & pressure and higher EGR rates in engines create substantial automotive charge air cooler market demand. Engine manufacturers constantly look for methods to increase the power output and extend engine life.
The increased air pressure and temperature in the combustion chamber lead to a higher thermal load the engine has to operate at. This charged air needs to be cooled down for higher power output and lower fuel consumption. Charge air cooling is also important to reduce the temperature in cylinders & exhaust systems and lower emissions. Higher density & air-fuel ratio and lower NOx emissions mean lower smoke emissions.
On the other hand, the high investment requirements to develop automotive charge air cooler systems hamper the growth of the market. Also, the increasing adoption of electric vehicles slows the demand for charge air coolers. Nevertheless, increasing sales of CNG vehicles and the growing adoption of turbochargers would support the market growth throughout the assessment period.
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Automotive Charge Air Cooler Market Segments
The automotive charge air cooler market report is segmented into types, engine types, designs, vehicle types, materials, sales channels, and regions. The type segment is sub-segmented into air-charged and liquid/water-charged air coolers. The engine type segment is sub-segmented into gasoline engines and diesel engines.
The design segment is sub-segmented into fins & tubes and bars & plates. The vehicle type segment is sub-segmented into passenger cars and commercial vehicles. The material segment is sub-segmented into aluminum, stainless steel, copper, and others. The sales channel segment is sub-segmented into OEMs and aftermarkets.
APAC dominates the global automotive charge air cooler market. Being one of the largest producers & consumers of automobiles, APAC is increasingly catching the attention of automotive charge air cooler manufacturers. Increasing demand for highly efficient vehicles and optimized fuel economy drive market growth. Besides, increasing spending on new vehicles boosts the automotive charge air cooler market size.
Continuous growth in the automotive sector, the strong presence of key charge air cooler manufacturers, and increasing awareness of energy-efficient products that can reduce energy cost drive the regional market growth. India, China, Japan, Australia, and South Korea contribute to the market growth. China is the largest producer of automotive aftermarket parts across the globe.
North America and Europe are rapidly growing markets for automotive charge air coolers. These markets are mainly driven by increasing production and demand for vehicle comfort features. Leading automotive component suppliers and intelligent transportation technology companies in these regions offer a wide aftermarket product portfolio.
They develop pilot test programs to deliver air-charged and water-charged air coolers to the automotive aftermarket. The US and Germany are expected to create significant opportunities in the global automotive charge air cooler market during the forecast period.
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Highly competitive, the automotive charge air cooler market relies on automobile sales and is driven by the increase in automotive production. Led by the presence of a number of large and small-scale players that account for a substantial share, the market appears to be fragmented.
Well-established players incorporate strategic initiatives such as collaboration, acquisition, partnership, product & technology launch, and expansion to maintain their positions in the market. The competitive nature of the market is envisaged to intensify as more entrants get attracted to the mass market.
Also, these players focus on new product development initiatives and geographical expansion. These Players invest heavily in R&D to develop a technology that is entirely different from their competition. They strive to develop systems with adept technologies, unrivaled design, and features.
For instance, on June 07, 2022, Conflux Technology launched an additively manufactured water charge air cooler (WCAC) for motorsport and high-end automotive markets. Scalable and ultra-high performing, the new WCAC can be configured to specific customer requirements.
The Conflux WCAC is developed focusing on performance, competitive pricing, and rapid delivery. Conflux also confirmed that the product developed using its patented CoreTM technology offers benefits across a vast range of applications, including small energy systems. Conflux also announced a partnership with Mott to bring its 3D-printed thermal solutions to North American markets.
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