Global Automotive Intercooler Market Size, Share, Forecast Report, 2020-2027
Intercooler is a mechanical device that is used to cool vehicle fluids, which includes liquid and gases. In an automobile it is used as air to air and air to water cooler for turbocharged and supercharged internal combustion engines. They are installed in vehicles to improve the volumetric efficiency by increasing the air intake density through cooling at constant pressure. Intercooler in a vehicle is used to improve the efficiency of the induction system by cooling down the heat created by supercharger or turbocharger. Intercooler removes the heat produced due to high temperature that is created by any gas when its pressure is raised. Turbochargers and superchargers are engineered in a way that its forces more air into the engine manifold and combustion chamber. The heat produced due to a supercharger is compensated by the intercooler to improve the efficiency of the vehicle. Intercoolers are generally of two types, air to air and air to water. Air to air intercooler is used to cool down the air with air. The exchange of heat occurs between air that have been charged through the charge pipes and the air that is flowing through the intercooler.
The factors that are responsible for the growth of automotive intercooler market are growing demand in the automotive industry, advancement in technology, and heavy investment by automotive manufacturers. There has been an increase in the sales of passenger and commercial vehicles from 2015 to 2016. In 2015, the total vehicle sales was about 89.6 million units, while in 2016 it was 93.8 million units. This rise in the sales of vehicles will result in increased use of intercooler in the vehicles to improve the efficiency of the vehicle. The automotive manufacturers are making heavy investment into R&D to develop a technology that will improve the efficiency of the vehicle and reduce the environmental impact of the vehicle as well as they are focusing on investing in R&D to gain a competitive edge over peers.
The automotive intercooler market is segmented based on type, engine type, and vehicle type. On the basis of type, the market is segmented into air to air and air to water. Air to liquid segment is expected to dominate the market during the forecast period due to ease of installation and providing high efficiency. Air to air intercoolers are the most common form of intercoolers due to the availability of limitless supply of cooling water. This is expected to expand at the highest CAGR because it requires lesser power and no liquid resulting, in no leakage. On the basis of vehicle type, the market is segmented into passenger car and commercial vehicle. Passenger car is expected to dominate the market during the forecast period due to the increase in sales of passenger car in emerging economies. The increased sales of passenger cars will result in high demand of intercooler in the vehicles.
The key players in automotive intercooler market are Bell Intercoolers (U.S.), Forge Motorsport Inc (U.S.), KALE Oto Radyator (Turkey), Mishimoto (U.S.), PWR (Australia), Modine Manufacturing (U.S.), and Treadstone Performance Engineering (U.S.). Guangzhou Woshen Auto Radiator (China), JC Performance Parts (China), KVR International (U.S.), and Honeywell International Inc. (U.S.) are among others.