Automotive Charge Air Cooler Market worth $3.9 Billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, June 8, 2021 /PRNewswire/ -- According to the new market research report "Automotive Charge Air Cooler Market by Type (Air-cooled, Liquid-cooled), Position (Integrated, Standalone), Design (Tube & Fin, Bar & Plate), Fuel Type (Gasoline, Diesel), Vehicle (PC, LCV, Truck, Bus), Material, Sales Channel & Region - Global Forecast to 2026", published by MarketsandMarkets, the Automotive Charge Air Cooler Market is estimated to be USD 2.8 Billion in 2021 and is projected to grow to USD 3.9 Billion by 2026, at a CAGR of 7.1% during the forecast period.

 

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152 – Tables
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Asia Pacific is estimated to have the largest market for charge air coolers, backed by strong demand and production of passenger vehicles and emission regulations in various countries. The growth of fuel-efficient vehicles has positively influenced the Asia Pacific Automotive Charge Air Cooler Market. Also, the region has the presence of leading charge air cooler manufacturers like Hanon Systems, T.RAD Co. Ltd., Marelli, and Denso Corporation, thus creating growth opportunities for the market in the region. These companies have been developing and expanding their business in the region. For instance, in March 2021, Hanon Systems announced that it had begun construction on its fifth plant in Korea. This new plant will be built on a site that offers approximately 33,000 square meters (approximately 335,000 square feet) of land.

Automotive charge air coolers are used to reduce fuel consumption and CO2 emissions in combination with turbocharging. These components maintain and improve power output and torque in vehicles. As the degree of turbocharging increases, the necessity of cooling the heated air grows. In vehicles, charge air coolers primarily function on increasing engine combustion efficiency. Thus, charge air coolers play a critical role in cooling the engine. Government regulations of carbon emissions and rising performance demand for ICE vehicles is growing significantly. This has encouraged the use of turbocharged/ supercharged engines along with downsizing. With the trend of engine downsizing in the automotive industry, automakers and manufacturers are focused on reducing fuel consumption and increasing the efficiency of vehicles.