The global automotive charge air cooler market is expected to reach USD 3.9 Billion by 2026, growing at a CAGR of 7.1% from USD 2.8 Billion in 2021.
Asia Pacific is the largest market for charge air coolers due to high demand and production of passenger vehicles and emission regulations in various countries. The region has leading manufacturers such as Hanon Systems, T.RAD Co. Ltd., Marelli, and Denso Corporation, which offer growth opportunities in the market. These companies are expanding their business in the region, with Hanon Systems starting construction on a new plant in Korea in 2021.
Automotive charge air coolers play a crucial role in reducing fuel consumption and CO2 emissions, especially in turbocharged vehicles. They enhance engine combustion efficiency and are essential for cooling the engine. With the increasing emphasis on reducing fuel consumption and improving vehicle efficiency, turbocharged engines and downsizing are becoming popular in the automotive industry.
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In terms of vehicle type, passenger cars are projected to dominate the automotive charge air cooler market. The demand for passenger cars, premium vehicles, and SUVs is rising, and there is a growing expectation for high performance. Although turbocharger penetration in gasoline-powered passenger cars is limited, there is expected to be rapid growth in this segment due to the focus on engine efficiency and downsizing. Diesel cars, on the other hand, are expected to decline in production and sales due to suspensions by companies and countries.
Among the types of charge air coolers, air-cooled coolers are more popular than liquid-cooled ones. Air-cooled coolers offer advantages such as simplicity, low cost, lightweight, and reliability. They are suitable for use across all vehicle segments and provide effective cooling. Therefore, air-cooled charge air coolers are expected to have steady growth during the forecast period.
The Asia Pacific region is estimated to have the largest market for automotive charge air coolers due to strong demand, production of passenger vehicles, and emission regulations. Leading manufacturers in the region contribute to its growth, and the market is positively influenced by the increasing demand for fuel-efficient vehicles.
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Major players in the automotive charge air cooler market include MAHLE GmbH, T. RAD Co. Ltd., Dana Incorporated, Valeo, and Modine Manufacturing Company. These companies are analyzed in the report, and they play significant roles in the market.
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