Charge Air Cooler Market

Charge Air Cooler Market Insights

"The global charge air cooler market is likely to grow at a significant CAGR of 8.7% during 2019-2024 to reach US$ 3.3 billion in 2024."

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Introduction

Automotive Charge Air Cooler is useful in cooling the engine air, resulting in a better output of the engine. The air cooler decreases the temperature of the engine air from about 220 degrees Celsius to about 40 degrees Celsius with the help of cooling water or also air. Automotive Charge Air Cooler is available in different sizes depending upon the engine size. Not just the engine size, these air coolers can serve as diesel engines as well as the gasoline engine.

Hot air entering the engine can create a higher combustion temperature, which creates a greater nitrogen oxide formation and increases the thermal load on the engine and related components. Charge air cooler act as a cooling interface, which transforms hot air coming from a turbocharger or a supercharger to cool air entering the combustion engine. CACs also contribute towards a reduction in turbo lag and an improvement in engine volumetric efficiency with lower engine displacement.

Charge Air Cooler Market Drivers

Organic growth in automobile production owing to increasing disposable income and growing urbanization; strict government regulations regarding carbon emission reductions and fuel efficiency enhancements, such as CAFÉ Standards; and increasing penetration of turbochargers are some of the major growth drivers of charge air coolers in the automotive industry.

The automotive industry is undergoing the most potentially disruptive decade where stringent government regulations regarding carbon emission reductions and fuel efficiency enhancements are generating enormous pressure on automakers. Automakers are unraveling it by finding distinct ways. Engine downsizing is one of the prime approaches for achieving such industry needs. Engine downsizing makes the engine hotter but makes the engine more powerful and efficient and gives an impetuous growth in the demand for turbochargers in vehicles. This creates a need for effective cooling of charged air through a charge air cooler (CAC) (also known as an intercooler).

Charge Air Cooler Market Segments' Analysis

Vehicle Insights

"Passenger car segment accounted for the largest market share."

The global automotive charge air cooler market is segmented based on the vehicle type as Passenger Car, LCV, and M&HCV. The passenger car segment is expected to remain the growth engine, holding a revenue share of more than 75%. The high production of cars coupled with the increased adoption of charge air coolers in gasoline engines is driving the segment.

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By Type of Inflators

"Air-cooled charge air cooler segment accounted for the largest market share."

Based on the product type, the automotive charge air cooler market is segmented as Air-Cooled Charge Air Cooler (also known as Air-to-Air Charge Air Cooler) and Liquid-Cooled Charge Air Cooler (also known as Water-Cooled Charge Air Cooler). Air-cooled charge air cooler is expected to remain the dominant product type in the market during the forecast period, whereas liquid-cooled charge air cooler is likely to grow at a faster rate during the same period. Smaller packaging space with reduced duct length, reduction in pressure loss, an improvement in power and torque delivery, and enhanced efficiency are some of the key whys and wherefores for faster growth of liquid-cooled charge air coolers as compared to air-cooled charge air coolers.

Another factor evoking interest in the usage of a liquid-cooled charge air cooler is its versatility. It can be adjusted in various configurations, such as remote mounting or self-contained, and can be integrated into the intake manifold or supercharger housing. On the other hand, an air-cooled charge air cooler is generally mounted standalone in the front of the radiator only.

Fuel Insights

"The diesel engine segment accounted for the largest market share."

Based on the fuel type, the automotive charge air cooler market is segmented as Diesel Engine-based Charge Air Cooler and Gasoline Engine-based Charge Air Cooler. The diesel engine is expected to remain the dominant segment of the charge air cooler market during the forecast period, whereas the gasoline engine is expected to witness higher growth during the same period.

Regional Insights

"Asia-Pacific accounted for the largest market share."

In terms of regions, Asia-Pacific is likely to be the largest CAC market, holding a revenue share of more than 40%. The region is likely to experience the highest growth during the same period. China and India are the growth engine of Asia-Pacific’s market for charge air coolers. Both countries together accounted for more than 60% of the Asia-Pacific’s market and are likely to grow at an impressive double-digit growth rate during the forecast period.

Europe is likely to be the second-largest automotive charge air cooler market during the forecast period, owing to the high penetration of diesel engine vehicles coupled with a greater penetration of turbochargers to address the strict emission norms of the European Commission. North America, another considerable region, is also likely to generate a healthy demand for charge air coolers in the coming years, primarily propelled by the USA and Mexico.

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Key Players

The supply chain of this market comprises raw material suppliers, charge air cooler manufacturers, system suppliers, automotive OEMs, and dealers.

The key charge air cooler manufacturers are-

• Calsonic Kansei Corporation
• Denso Corporation
• Dana Incorporated
• Hanon Systems Mahle GmbH
• T.RAD Co., Ltd.
• Valeo Group.

The development of integrated charge air coolers and the formation of strategic alliances with OEMs and turbocharger suppliers are the key strategies adopted by the key players to gain a competitive edge in the market.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factor

Research Methodology

This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s charge air cooler market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players based on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com