Automotive Charge Air Cooler Market Growth, Industry Size-Share, Trends Analysis, Key Manufacturers, Challenges, Opportunities and Future Outlook 2022-2032: SPER Market Research
The compressed air is cooled using an automotive charge air cooler prior to its entry into the engine intake manifold or combustion chambers. Because of its increased temperature and decreased density due to the turbocharger, the compressed air has less oxygen during combustion. A major trend in the automobile industry is engine downsizing, wherein manufacturers aim to increase vehicle efficiency and reduce fuel consumption. Increasing engine combustion efficiency is the main objective of a car charge air cooler. As a result, automobile charge air coolers become more appealing to consumers.
According to SPER market research, ‘Automotive Charge Air Cooler Market Size- By Product Type, By Position, By Design, By Fuel Type, By Vehicle Type, By Material, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Automotive Charge Air Cooler Market is predicted to reach USD 6.09 billion by 2032 with a CAGR of 7.32%.
A charge air cooler’s job is to cool combustion air, bringing it down to a temperature that maximises fuel efficiency and power production. The engine’s combustion process produces more power when the air is denser and has a lower temperature. It also lowers the necessary fuel usage. Both passenger and commercial vehicles use it. The sector has grown due to several factors, including increased demand for passenger and commercial cars, growing use of turbochargers in vehicles, and demands for lower emissions and fuel efficiency. Urbanisation, changes in lifestyle, and an increase in disposable money all contribute to the demand for passenger automobiles, which is good for business. Furthermore, over the course of the forecast period, the market is anticipated to see significant growth possibilities due to automakers’ ongoing expenditures in the research and development of high-performance, reasonably priced, and environmentally friendly engines.
However, the market’s expansion may be hampered by the growing demand for electric vehicles (EVs). Governments everywhere are pushing for the use of alternative fuel-powered vehicles as concerns about the environmental effects of conventional automobiles grow. Zero-emission cars, or EVs, are becoming more and more popular for environmentally friendly public transportation worldwide. To promote the use of EVs, a number of national governments provide financial incentives such tax breaks and refunds, subsidies, lowered parking and toll costs, and free charging. The drop in diesel car sales represents a significant barrier to the market expansion for charge air coolers.
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The industry was severely hit by the COVID-19 pandemic. Auto manufacturing facilities in Europe and the United States had been affected by exports at the start of the pandemic in China. One of the major problems in the automotive industry was the closure of numerous large production sites and suppliers worldwide.
In 2021, Asia Pacific dominated the market. Asia Pacific is home to some of the fastest-growing nations in the world in terms of both GDP and population, including China and India. The economies and industries of Asia are changing, which is driving up demand for goods like automobiles. Some of the biggest automakers in the world are found in nations like South Korea and Japan. Over the course of the projected period, North America is expected to increase at the fastest CAGR. In the region of North America, the United States has the largest automobile market. In the US, the automotive market is well-established.
Automotive Charge Air Cooler Market Key Players:
Additionally, some of the market key players are AKG Group, Banco Products (India) Ltd., C, G, & J Inc., Dana Ltd., Sterling Thermal Technology, T.RAD Co., Ltd., Valeo.
Automotive Charge Air Cooler Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type:
- Air-cooled Charge Air Cooler
- Liquid-cooled Charge Air Cooler
By Position:
- Integrated
- Standalone
By Design:
- Bar & Plate
- Fin & Tube
By Fuel Type:
- Diesel
- Gasoline
By Vehicle Type:
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passenger Vehicle
- Others
By Material:
- Aluminum
- Copper
- Stainless Steel
- Others
By Sales Channel:
- Aftermarket
- OEM
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Automotive Charge Air Cooler Market Forecast
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