Global Automotive Charge Air Cooler (CAC) Market – Set to reach US$ 3,374.3 million in 2024
The report on Automotive Charge Air Cooler (CAC) Market, published on Nov 2018 by Stratview Research, will showcase the market trend of 2013-2018 and forecast period of 2019-2024.
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The global automotive charge air cooler market is projected to offer an impressive growth opportunity and is likely to reach US$ 3,374.3 million in 2024. Organic growth in the automobile production owing to increasing disposable income and growing urbanization; strict government regulations regarding carbon emission reductions and fuel efficiency enhancements, such as CAFÉ Standards; and increasing penetration of turbochargers are some of the major growth drivers of charge air coolers in the automotive industry.
The automotive industry is undergoing the most potentially disruptive decade where stringent government regulations regarding the carbon emission reductions and fuel efficiency enhancements are generating enormous pressure on automakers. Automakers are unraveling it by finding distinct ways. Engine downsizing is one of the prime approaches for achieving such industry needs. Engine downsizing makes the engine hotter but makes the engine more powerful and efficient and give an impetuous growth in the demand for turbochargers in vehicles. This creates a need for effective cooling of charged air through charge air cooler (CAC) (also known as an intercooler).
Hot air entering engine can create a higher combustion temperature, which creates a greater nitrogen oxide formation and increases the thermal load on the engine and related components. Charge air cooler act as a cooling interface, which transforms hot air coming from a turbocharger or a supercharger to cool air entering combustion engine. CACs also contribute towards a reduction in turbo lag and an improvement in engine volumetric efficiency with lower engine displacement.
The supply chain of this market comprises raw material suppliers, charge air cooler manufacturers, system suppliers, automotive OEMs, and dealers. The key automotive charge air cooler manufacturers are Calsonic Kansei Corporation, Denso Corporation, Dana Incorporated, Hanon Systems Mahle GmbH, T.RAD Co., Ltd., and Valeo Group. The development of integrated charge air coolers and the formation of strategic alliances with OEMs and turbocharger suppliers are the key strategies adopted by the key players to gain a competitive edge in the market.
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The report on Automotive Charge Air Cooler (CAC) Market is explained segment-wise for a better understanding of the market trend.
The global automotive charge air cooler market is segmented based on the vehicle type as Passenger Car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the global automotive charge air cooler market during the forecast period. The high production of cars coupled with increased adoption of charge air cooler in gasoline engines is driving the segment.
Based on the product type, the automotive charge air cooler market is segmented as Air-Cooled Charge Air Cooler (also known as Air-to-Air Charge Air Cooler) and Liquid-Cooled Charge Air Cooler (also known as Water-Cooled Charge Air Cooler). Air-cooled charge air cooler is expected to remain the dominant product type in the market during the forecast period, whereas liquid-cooled charge air cooler is likely to grow at a faster rate during the same period. Smaller packaging space with reduced duct length, reduction in a pressure loss, an improvement in power and torque delivery, and enhanced efficiency are some of the key whys and wherefores for faster growth of liquid cooled charge air cooler as compared to air-cooled charge air cooler.
Another factor evoking interest towards the usage of a liquid-cooled charge air cooler is its versatility. It can be adjusted in various configurations, such as remote mounting or self-contained and can be integrated into the intake manifold or supercharger housing. On the other hand, an air-cooled charge air cooler is generally mounted standalone in the front of radiator only.
Based on the fuel type, the automotive charge air cooler market is segmented as Diesel Engine-based Charge Air Cooler and Gasoline Engine-based Charge Air Cooler. The diesel engine is expected to remain the dominant segment of the automotive charge air cooler market during the forecast period, whereas gasoline engine is expected to witness higher growth during the same period.
In terms of regions, Asia-Pacific is likely to be the largest automotive CAC market over the next five years. The region is likely to experience the highest growth during the same period. China and India are the growth engine of Asia-Pacific’s market for charge air coolers. Both countries together accounted for more than 60% of the Asia-Pacific’s market and are likely to grow at an impressive double-digit growth rate during the forecast period.
Europe is likely to be the second-largest automotive charge air cooler market during the forecast period, owing to the high penetration of diesel engine vehicles coupled with a greater penetration of turbochargers to address the strict emission norms of European Commission. North America, another considerable region, is also likely to generate a healthy demand for charge air cooler in the coming years, primarily propelled by the USA and Mexico.
Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global charge air cooler market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth
What we offer?
The global market research company, Stratview Research has been dealing with different market research reports in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The team consists of the best experts who are known to offer the best assessments and screenings so that the interested companies can afford to rely upon and take corrective decisions ahead.
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