The global automotive intercooler market is projected to grow at a CAGR of 8.77% to reach US$21.878 billion by 2025, from US$13.212 billion in 2019. Automotive intercooler is a type of a heat exchanger that is used mainly with supercharged and turbocharged engines. Their basic function is to cool the air that is compressed by the supercharger or the turbocharger. There are two types of automotive intercoolers that are used in vehicles; air-to-liquid and air-to-air. The air-to-air intercooler transfers the heat from the charged air to the atmosphere. The air-to-liquid intercoolers work on the principle that the coolant that passes through the core of the intercooler is pumped through the system to a radiator which is present in the front of the vehicle. The radiator then removes the heat. However, air-to-liquid systems are susceptible to leaks whereas the air-to-air is cheaper and easier to maintain. The intercoolers are mounted in different Vehicle Types such as top, side, and front. The type of intercooler, which is located on the top of the engine, is called the top-mounted intercooler. The front mount is a position in which the intercooler is placed in the front of the engine. Placing the intercooler in this position gives a benefit of installing larger intercooler so that more charged air is cooled. The side-mounted intercoolers are mounted either in the front of the wheels or placed on the both sides of bumpers. These are used in the only case if intercoolers cannot be mounted in the front.
Rising disposable income of the general population is increasing their propensity to spend on vehicles and upgrade them with after-market parts such as Turbochargers and Superchargers to increase the performance of the vehicles. The increase in the number of people upgrading their car with superchargers or turbochargers will lead to an increase in the demand of vehicles resulting in the growth of the automotive intercooler market. Furthermore, the market players are involved in the market through investments and advancements to facilitate the growth of the automotive intercooler market.
The automotive intercooler market has been segmented by intercooler type, vehicle type, engine type, and geography. By type, the market has been segmented as air-to-air and air-to-liquid. By vehicle type, the market has been segmented into a passenger vehicle, light commercial vehicle and heavy commercial vehicle. By engine type, the market has been segmented into supercharged and turbocharged.
By intercooler type, the air-to-air segment is expected to hold a significant market share owing to the fact that these types of intercoolers are most commonly used in cars and are the cheapest as compared to the air-to-liquid intercoolers.
Passenger Vehicles to hold a significant share
Passenger vehicles are estimated to dominate the market, which is attributable to the fact that these vehicles are the most common, owned people for the reasons of affordability and personal comfort.
Turbocharged engines are the more preferred engine type among the majority of the population as turbochargers are the most common performance components that people prefer to upgrade their vehicles with to increase the engine power.
Asia Pacific and North America estimated to hold a significant share.
By geography, Asia Pacific is expected to hold a significant market share as regions such as India and China are the major producers of automobiles and automotive components. Moreover, the increasing disposable income of people is increasing their propensity to spend on performance vehicles. The North American region is also expected to hold a considerable amount of share in the market which is attributable to the fact that it is one of the leading regions where new automotive technologies are coming, investments are being made in order the enhance the quality of performance components and automotive components like intercoolers.
Some of the major players covered as a part of this report are Bell Intercoolers, Mishimoto Automotive and FORGE MOTORSPORT among others.
Segmentation
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