The charge air cooler acts as a connection between the turbocharger and the engine. It soothes the engine air after it has passed through a turbocharger and before it enters the engine's combustion chamber. The constantly increasing demand for the automotive charge air cooler market is because this intermediate significantly improves engine performance while lowering pollutants.
Air with a lower temperature and higher density helps accomplish the best power for the engine's combustion procedure. It also minimizes the amount of fuel required. The most common application is commercial and passenger cars. Demand for lower fuel consumption and increased engine power and emissions, increased use of turbochargers in machinery, and growing demand for passenger and commercial vehicles are expanding the industry's growth.
According to Cognitive Market Research, the global automotive charge air cooler market was worth USD 3,094.96 million in 2022 and is predicted to increase at a CAGR of 7.1% over the projected period.
For example, Conflux Technology announced its first 3D-printed automotive charge air cooler in June 2022 to cool the air that enters turbos to enhance car engines. With this release, the organization is improving performance and weight and enabling it to integrate into current designs from various high-end vehicle manufacturers simply.
Factors Driving the Growth of the Market
Important factors driving the growth of the global market during the estimated period are a dramatic increase in the infiltration of turbochargers in passenger cars. These chargers contribute to reducing global vehicle emissions and can decrease the displacement volume of the cylinder, which minimizes the entire volume of fuel necessary for the same power. It also increases fuel efficiency.
The market demand is also rising and will continue to do so due to the increased implementation of high-performance engines and ongoing research for lower fuel consumption and reduced exhaust emissions. The increasing trend of engine downsizing with improved performance and efficiency is also influencing the market.
The vehicle charge air cooler industry is also growing as environmental laws, particularly those affecting diesel engines, increased the rate of integration with turbochargers. Strict fuel economy rules, including impressively higher mpg standards and stringent prohibitions on greenhouse pollutants like carbon dioxide from engine exhaust discharge, have forced a performance sector to shift toward a conventional fuel-saving presence. Global automotive charge air cooler market sales are growing; automobile manufacturers have closely watched gasoline engine downsizing and, to a lesser extent, diesel engine downsizing.
Key Market Players of the Automotive Charge Air Cooler
Some of the main competitors in the global industry are Dana Ltd., T.RAD Co. Ltd., Modine Manufacturing, Hanon Systems, Banco Products, Radicon Company, Kelvin Holding, Delphi Technologies, Dura-Lite Heat Transfer, Valeo, MAHLE, AKG Group, Sterling Thermal Technology, and Vestas Aircoil.
Author's Detail:
Vinayak Bali / LinkedIn
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.