As per a report by TechSci Research titled " - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027", the global automotive intercooler market is expected to experience a robust growth in the period between 2023-2027, with an expected CAGR value. The growth of the market can be attributed to factors such as a rise in demand for advanced car parts, increasing concerns for the environment, and a surge in demand for eco-friendly and fuel-efficient vehicles in the next five years. The growing demand for automotive turbochargers is also expected to support the growth of the global automotive intercooler market in the upcoming five years. In addition, the market is expected to benefit from high occurrences of vehicle combustion resulting from engine overheating, high fuel consumption when the engine reaches high temperature in a short time, and the high cost of fuel, which leads to environmental harm through excessive burning of fuel and the depletion of natural fuel resources. The rapid growth of automobile production and sales, as well as the overall expansion of the automotive industry, is expected to boost the growth of the global automotive intercooler market over the next five years.
Governments are making efforts to invest in the industry to develop eco-friendly automobiles, including the promotion of electric vehicles and battery-powered vehicles. Higher research and development of innovative products is also expected to substantiate the growth of the global automotive intercooler market in the forecast years up to 2027.
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The global automotive intercooler market is segmented based on vehicle type, type, engine type, design type, demand category, regional distribution, and competitive landscape. The market is further divided into two-wheeler, passenger car, light commercial vehicle, medium & heavy commercial vehicle, and OTR based on vehicle type. In the upcoming five years, passenger cars are expected to dominate the market segment and hold the largest revenue shares, owing to their increasing production and sales in the Asia Pacific regions. The market is further driven by the growing occurrences of engine heating due to high temperature countries and the higher cost of fuel worldwide. Light commercial vehicles are also anticipated to hold a significant share of the market due to the increasing demand for freight movement and the growing transportation industry.
The engine type market segment is divided into supercharged engine and turbocharged engine. Turbocharged engines are expected to dominate the market segment with the largest revenue shares in the next five years, owing to the surging demand for coolants for reducing the temperature of compressed air. The increasing usage and development of downsized engines are also expected to substantiate the growth of the segment in the upcoming five years, along with the growth of the market.
Based on design type, the market is further categorized into front-mounted, top-mounted, and side-mounted. Front-mounted designs are expected to lead the market based on automotive requirements and design. The higher demand for front engines is driving the growth of the segment, along with the growth of the market in the next five years.
Some of the market players, dominating the global automotive intercooler market are :
Valeo Group MAHLE GmbH Treadstone Performance Engineering Inc. Bell Intercoolers Garrett Motion Inc. PWR Holdings Limited Garrett Motion Inc. (Honeywell) Kale Oto Radyator Pro Alloy Motorsport Ltd Modine Manufacturing Company
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"Asia Pacific region is anticipated to lead the global automotive intercooler market in the upcoming five years as it has been leading in the historical years due to highest sales and demand of the automobiles in the region. Moreover, larger economies like India, China are also among the largest producers of automobiles. Increasing technological advancement in the automobiles, dedicated research and product development sector in the industry in these countries along with the presence of global giants like Toyota Motors, Hyundai Motors, etc. in the region is driving the growth of the global automotive intercooler market in the future five years. Large population of the countries in the region, higher capacities of producing technologically advanced automobiles, and higher export capacities of the countries like Japan, China, further facilitate the market growth. New market players may form alliances with the global automotive manufacturers to supply the products for assembling and invest in further research to establish their brands in the market," said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Automotive Intercooler Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR), By Type (Air to Air Intercooler, Water to Air Intercooler), By Engine Type (Supercharged Engine, Turbocharged Engine), By Design Type (Front Mounted, Top Mounted, Side Mounted), By Demand Category (OEM vs Replacement), By Region", has evaluated the future growth potential of global automotive intercooler and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive intercooler market.
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