The Global Automotive Intercooler Industry is presumed to register a striking CAGR during the forecast period (2018-2023) owing to the increasing demand in the automotive industry, asserts Market Research Future (MRFR). Intercooler is referred to as a mechanical device which is used to cool vehicle fluids comprising gases and liquids. Intercooler is used as an air to water and air to air cooler in an automotive, for supercharged and turbocharged internal combustion engines. They are generally installed in vehicles in order to improve the volumetric efficiency by accelerating the air intake density through cooling at a constant pressure. automotive air intercooler, Intercoolers are also used to improve the induction system efficiency by cooling the heat generated by the turbocharger or the supercharger.
Drivers and Constraints Impacting the Market
With theincreasing demand in the automotive industry, heavy investments by the automotive manufacturers, and advancements in technology, the global automotive intercooler market is estimated to flourish during the assessment period. The increasing sales of vehicles is predicted to stimulate the use of intercooler in the vehicles in order to improve the efficiency of the vehicle. There has been an increased salein commercial and passenger vehicles from 2015 to 2016 and had reached to 93.8 million units by the end of 2016.
Moreover, the automotive manufacturers are highly investing into research and development activities that will further improve the efficiency of the vehicle besides reducing the environmental impact of the vehicle. Such factors are considered to contribute to the market growth during the assessment period. Intercoolers also increases the air density which increases the oxygen content in the air, thus the air can accommodate more fuel. This further ensures better fuel combustion and reduces the exhaust emission content. The rising use and development of downsized engines through turbochargers will help to provide better output and performance, thereby fostering the market growth.
On the flip side, the high installation cost of intercoolers in automotive is anticipated to dampen the market in the coming years.
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The prominent players operating the global automotive intercooler market are Honeywell International Inc. (U.S.), Treadstone Performance Engineering (U.S.), Guangzhou Woshen Auto Radiator (China), PWR (Australia), Bell Intercoolers (U.S.), KVR International (U.S.), Mishimoto (U.S.), KALE Oto Radyator (Turkey), Forge Motorsport Inc (U.S.), JC Performance Parts (China), and Modine Manufacturing (U.S.).
Global Automotive Intercooler Market: Segmental Analysis
The global automotive intercooler market has been segmented on the basis of type, engine type, vehicle type, and region.
By mode of type, the global automotive intercooler market has been segmented into air to water and air to air. Among these, the air to water segment is considered to dominate the global market owing to its ease of installation. Moreover, it is highly efficient which further trigger its demand in the market.
By mode of engine type, the global automotive intercooler market has been segmented into turbocharged diesel, supercharged gasoline, and conventional diesel.
By mode of vehicle type, the global automotive intercooler market has been segmented into commercial vehicle and passenger car. Among these, the passenger car segment is predicted to dominate the global market owing to the rising sales of passenger cars in the emerging regions.
Geographically, the Automotive Intercooler Market growth span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is estimated to dominate the global market owing to the rising sales and production of commercial and passenger vehicles in this region. Automotive manufacturers in this region are highly investing on the development of innovative products, which is further propelling the market growth. Moreover, China is considered to be a dominating regionas Chinese automakers are developing trade-friendly policies which are enabling them to produce a larger number of vehicles. The automotive industry is also expecting a huge investment by various market giants by the end of 2023 owing to the increasing demand for passenger cars. This is likely to foster the market growth in this region.
The European region is estimated to be the third largest market owing to the cut throat competition in the automotive industry. Germany is anticipated to dominate the market in this region.
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