The global Automotive Intercooler market is expected to witness a market value of US$ 17.1 Billion in 2023 and is expected to accumulate a market value of US$ 39.8 Billion by registering a CAGR of 8.8% in the forecast period 2023 to 2033. The Automotive Intercooler market registered a CAGR of 3.8% in the historical period 2018 to 2022. Factors such as an increase in the demand for vehicles globally, as well as increase in environmental concerns are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Automotive Intercooler has been flourished. One of the major factors that is expected to boost the market growth includes the continually increase in the demand for turbocharged and supercharged engines. The demand for vehicles with higher fuel efficiency and better performance has been increasing globally, leading to a surge in the production of turbocharged and supercharged engines. Intercoolers are essential components of these engines, as they cool the compressed air before it enters the engine, which leads to higher power output and fuel efficiency.
Governments around the world are implementing stricter emissions regulations to reduce pollution and improve air quality. Intercoolers can help automakers meet these regulations by reducing emissions and improving fuel efficiency. As a result, the demand for intercoolers is anticipated to increase as automakers strive to comply with these regulations.
Furthermore, the global automotive industry has been growing steadily in recent years, driven by rising disposable incomes and increasing urbanization. This growth has led to an increase in vehicle production, which in turn, is expected to fuel the market growth in the near future.
The automotive industry is constantly evolving, with new technologies and materials being developed to improve vehicle performance and efficiency. This has led to the development of advanced intercoolers that are more efficient and compact than their predecessors. As a result, automakers are increasingly incorporating these advanced intercoolers into their vehicles, further driving the growth of the market.
Additionally, the demand for intercoolers is not limited to automakers alone, as there is also a growing aftermarket for these components. Enthusiasts and performance-oriented drivers often upgrade their vehicles with aftermarket intercoolers to improve their performance and efficiency, driving demand in this segment.
On the regional end, the Automotive Intercooler market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the increasing demand for fuel-efficient vehicles, stricter emissions regulations, and a growing automotive industry.
On the other hand, the Automotive Intercooler market in Asia Pacific is expected to account for a significant share over the forecast period, attributed to the factors such as the increasing demand for fuel-efficient vehicles, growing automotive industry, and stricter emissions regulations in the region. With the region's ongoing industrialization and urbanization, the demand for intercoolers is expected to continue to rise in the coming years.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Automotive Intercooler are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, PT Toyota-Astra Motor (TAM), in October 2022, along with the launch of the all-new Land Cruiser SUV, introduced the new Fortuner as an ever-better car that is now equipped with a choice of a new diesel engine coded 1GD-FTV. This 2,755-cc 1GD FTV, In-Line 4 Cylinders, 4 Valves, DOHC, VNT Intercooler engine, delivers maximum power of 203.9 PS from 3,000 - 4,000 rpm and 50.9 kgm of torque from 1,600 – 2,800 rpm.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 17.1 billion |
| Projected Market Value in 2033 | US$ 39.8 billion |
| Growth Rate (2023 to 2033) | 8.8% CAGR |
Use of automotive intercooler helps in reduction of fuel consumption and thereby increases fuel efficiency and engine performance. Intercoolers reduce the temperature and increase the density of the supplied air to engine, that prevents damage and thus increases it’s volumetric efficiency.
These parts are important for turbocharging and supercharging systems as they improve efficiency of vehicle by cooling the heat generated by turbocharger. Supercharged engine is available in two configurations as air-to- air intercooler and air-to-water intercooler.
Owing to increasing efforts over improving engine performance and exhaust emission reductions, the market for intercooler is anticipated to gain traction and advance ahead with promising growth prospects during the forecast period. In addition, increasing demand for sport cars or sporty engine features will provide significant forward thrust to the automotive intercooler market.
Carbon emission mitigation has become a key priority in recent times for automakers across globe.
Stringent government regulations concerning pollution reduction from automotive usage across countries have compelled automakers implement various strategies, designs and innovations regarding improvement of vehicular performance.
Use of intercoolers in vehicles offer automakers flexibility in terms of improving combustion efficiency thus lowering the emission levels without compromising over vehicle performance. This factor is anticipated to provide new growth impetus to global automotive intercoolers market.
Manufacturers of intercoolers are adding innovative features in design of these products that ensure optimum performance of the product and use specific aluminum alloys to resist internal corrosion and extreme high temperature in the interior of the vehicle.
Flexible side plates are installed for high performance of intercooler. Innovative technology along with wide range of intercoolers in accelerating the demand of automotive intercoolers in the market.
North America is one of the most attractive markets for intercooler as many racing cars that have turbocharging or supercharging systems have intercoolers installed for the engine.
This is one of the factors increasing the demand of intercoolers in the market. Increase in production of passenger cars and stringent government regulations for fuel economy standards is also surging the sales of intercoolers.
Companies in USA like Bell Intercoolers and Forge Motorsport that make intercoolers for motorsports, marine and industrial use as well. They also offer customized intercoolers solutions to customers which is boosting the sales of intercoolers in the forecast period.
The European automotive industry suddenly came to a halt due to COVID-19 crisis, which has led to a decline in economic activities but the market is slowly recovering in 2021.
Shutdown of production facilities in Europe affected the automotive industry as well as intercoolers as there was a halt in the manufacturing of automotive parts. European manufacturers offer intercoolers for different length and height along which is available in several colors.
They focus on production of high quality intercoolers and other engine parts used in passenger cars as well as racing cars with latest technologies and designs. Manufacturers also provide intercooler parts in their online shop according to different car models which is accelerating sales of intercoolers in the market.
Some of the leading manufacturers and suppliers of automotive intercooler include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Manufacturers are providing air and water cooled technology to all OEMs that are charged with turbochargers like BMW, Mercedes, Audi, Volkswagen, Renault, Ford and many other companies.
Manufacturers also provide intercoolers for different car models that are environment friendly and use plastic ducts that are lighter than steel which helps the vehicle in overall weight reduction, less polluting, have high heat density and increase vehicle efficiency.
Many companies offer provide direct for replacement of intercoolers as well as custom intercoolers for modern, classic or racing cars as per the customer requirement and offer warranty for replacement parts as well. This factor is increasing the aftermarket as well for automotive intercoolers in many countries.
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