Automotive charge air coolers are employed as heat exchangers that are installed in internal combustion engines along with turbochargers or superchargers. The charge air cooler is incorporated between the turbocharger and the engine air inlet manifold. The charge air cooler operates in extreme temperatures, and hence, it requires a special and durable design. Charge air coolers play a crucial role in boosting the efficiency of engines and reduce the emission of NOx.
Rise in demand for fuel-efficient vehicles coupled with an increase in emphasis on emission standards in order to minimize carbon emission is projected to boost the demand for charge air cooler during the forecast period. Furthermore, increase in production of passenger vehicles in developing countries, such India and Brazil, owing to enhanced spending power of consumers in these countries, along with better availability of car loans are anticipated to drive the charge air cooler market for automotive during the forecast period. However, rise in the rate of adoption of battery electric vehicles is likely to hamper the charge air cooler market for automotive during the forecast period.
The charge air cooler market for automotive can be segmented based on type, sales channel, vehicle type, and region. Based on type, the charge air cooler market for automotive can be bifurcated into air cooled charge air cooler and liquid cooled charge air cooler. Air cooled charge air cooler is likely to maintain its dominant position during the forecast period. However, increasing trend of compact and fuel efficient engines that require maximum cooling to reduce turbo lag and improve fuel efficiency and performance is projected to drive the demand for liquid cooled charge air cooler during the forecast period.
Based on sales channel, the charge air cooler market for automotive can be classified into OEM and aftermarket. Presence of major tier I suppliers for automotive charge air cooler to several OEMs is likely to lead to the OEM segment to hold a major share of the charge air cooler market for automotive during the forecast period. The OEM segment is anticipated to expand during the forecast period owing to the demand for compact, high performance, and reliable charge air cooler.
In terms of vehicle type, the charge air cooler market for automotive can be segregated into passenger vehicle and commercial vehicle. Rapid urbanization, increase in per capita income, and availability of vehicle loans at lower interest rates in developing countries are propelling the passenger vehicle segment. Furthermore, enhanced focus by OEMs on fuel-efficient passenger vehicles is likely to boost the charge air cooler market for automotive during the forecast period.
In terms of region, the charge air cooler market for automotive can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Stringent emission norms in North America and Europe for the automotive industry, green transportation projects from governments of countries in the region, and demand for fuel-efficient vehicles are likely to boost the charge air cooler market for automotive during the forecast period in North America and Europe. However, Asia Pacific is likely to emerge as a major market for charge air cooler during the forecast period owing to stringent emission norms and high demand for fuel-efficient vehicles in the region.
Key players operating in the charge air cooler market for automotive are Modine Manufacturing Company, MAHLE, Inc., Dana Limited, Delphi Auto Parts, DuPont, DENSO CORPORATION, and Valeo.
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