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Automotive Charge Air Cooler Market Report 2024 TO 2033 - Key Players Banco Products Ltd., Calsonic Kansei Corporation, Dana Incorporated, Delphi Technologies plc, Denso Corporation
Automotive Charge Air Cooler Market Share
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According to The Business Research Company's, The automotive charge air cooler market size has grown rapidly in recent years. It will grow from $2.9 billion in 2023 to $3.2 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to stringent emission standards, engine performance optimization, increased demand for fuel efficiency and reduced emissions, changes in consumer preferences and driving habits.
The automotive charge air cooler market size is expected to see strong growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increased adoption of hybrid powertrains, integration of advanced cooling technologies, growth in electric and hydrogen fuel cell vehicles, emphasis on thermal management for evs. Major trends in the forecast period include development of lightweight and compact coolers, integration of advanced materials in cooler construction, adoption of liquid-cooled charge air coolers, customization of coolers for different vehicle applications, enhancement of heat exchanger efficiency for better performance.
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Market Drivers and Trends:
The increase in demand for commercial vehicles is expected to drive the growth of the automotive charge air cooler market. Commercial vehicles are motor vehicles designed and used primarily for transporting goods, passengers, or performing specialized tasks for economic purposes. Automotive charge air coolers in commercial vehicles enhance combustion efficiency and optimize engine performance by cooling compressed air before it enters the engine, ensuring increased power output and fuel efficiency. For instance, in July 2022, according to Pandaily, a Beijing-based tech media, the sales volume of commercial vehicles was 168,000, up 49.4% year-on-year. Also, in May 2021, demand for new commercial vehicles in Germany increased by 46.4% over the previous year. Therefore, the increase in demand for commercial vehicles is expected to drive the growth of the automotive charge air cooler market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Banco Products Ltd., Calsonic Kansei Corporation, Dana Incorporated, Delphi Technologies plc, Denso Corporation, Du Pont De Nemours and Company, Modine Manufacturing Company, Valeo SA, Vestas Aircoil AS, MAHLE GmbH, Hanon Systems Corporation, C G & J Inc., T RAD Co. Ltd., Magneti Marelli SpA, Robert Bosch GmbH, Continental AG, Aisin Seiki Co Ltd., Johnson Electric Holdings Limited, KSPG AG, Magna International, SHW AG, ZF Friedrichshafen AG, Concentric AB, HELLA KGaA Hueck & Co., Hitachi Automotive Systems Ltd., JTEKT Corporation, Rheinmetall Automotive AG, MS Motorservice International GmbH, GMB Corporation, Pierburg GmbH
Automotive Charge Air Cooler Market 2024 Key Insights:
• The automotive charge air cooler market size is expected to see strong growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Increase In Demand For Commercial Vehicles Drives The Market
• High-Performance Engines To Improve Fuel Consumption
• Asia-Pacific was the largest region in the automotive charge air cooler market in 2023
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