Automotive Charge Air Cooler Market Size, Share & Trends Analysis Report By Product Type (Air-cooled, Liquid-cooled), By Vehicle Type, By Design Type, By Fuel Type, By Region, And Segment Forecasts, 2022 - 2030
New York, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Charge Air Cooler Market Size, Share & Trends Analysis Report By Product Type, By Vehicle Type, By Design Type, By Fuel Type, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06377952/?utm_source=GNW
Automotive Charge Air Cooler Market Growth & Trends
The global automotive charge air cooler market size is anticipated to reach USD 18.02 billion by 2030, registering a CAGR of 7.2% from 2022 to 2030. A charge air cooler’s function includes an increase in engine combustion efficiency, a rise in demand for fuel-efficient vehicles, and the regulatory authorities’ focus on the reduction of carbon emission would give a boost to the product demand. An increase in the use of turbocharging in automobiles would promote the application of charge air coolers as well. The automotive sector has been significantly impacted by the COVID-19 pandemic. South America’s automotive production dropped by more than 30%, with Brazil down by 32%.
The North American Free Trade Agreement (NAFTA) had seen a production decline of more than 20%.Asia was better in terms of resisting the shock, with a decline of 10%.
The impact on Chinese production was only 2%, and a quick recovery was witnessed.Hubei in China is one of the most important regions for the automotive industry as more than 100 automotive suppliers are based out of this region.
An outbreak of the pandemic in the region resulted in a halt of production activities.These downward trends in automotive production also impacted the automotive charge air cooler sector.
Asia Pacific accounted for the largest revenue share in 2021.
China is the world’s largest vehicle market in terms of manufacturing output and annual sales.Domestic production is anticipated to cross 35 million vehicles by 2025.
Total cars of over 25 million were sold in 2020.Automotive is one of the important industries in India.
In 2020, India was the fifth-largest automaker in the world. In FY 2021, the country’s annual auto production was 22.7 million vehicles. Japan is the third-largest automotive producer known for invigorating ideas and cutting-edge technology. The automotive industry accounts for almost 89% of the country’s manufacturing sector.
Automotive Charge Air Cooler Market Report Highlights
• The air-cooled charge air cooler product type segment accounted for the largest revenue share in 2021. These devices are used in passenger cars as well as light & heavy commercial vehicles
• The passenger vehicle type segment is projected to grow at a significant CAGR over the forecast period. Stringent rules regarding emissions will drive the need for charge air coolers for passenger cars. With the growing passenger vehicle sales, the demand for charge air coolers is expected to increase. However, rising demand for electric vehicles (EVs) would hamper sales for this product
• The fin & tube design type segment accounted for the largest revenue share in 2021. These types of air charge coolers are ideal for high-performance diesel applications with high boost pressure. One of the cons of this type of charge air cooler includes poor cooling efficiency if not engineered with enough tubes for the application
• The integrated segment is projected to grow at a significant CAGR over the forecast period. It requires a smaller front-end package and lowers pressure drop in the intake system, hence lowering the cost of the cooler. This system is ideally suited for turbocharged gasoline engines. An integrated charge air cooler system makes the most of all the advantages of indirect charge air cooling. It reduces the number of interfaces and the handling cost as well for automotive manufacturers
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