Automotive Intercooler Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Automotive Intercooler Market Report is Segmented by Type (air-To-Air Intercooler and Air-To-Water Intercooler), Vehicle Type (passenger Cars and Commercial Vehicles), Engine Type (supercharged Engine and Turbocharged Engine), And Geography (North America, Europe, Asia-pacific, South America, And Middle-East and Africa). The Market Size and Forecast for the Automotive Pressure Sensors Market in Value (USD) for all the Segments Mentioned Above.

Automotive Intercooler Market Size

Automotive Intercooler Market Summary
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Study Period 2019-2029
Market Size (2024) USD 17.96 Billion
Market Size (2029) USD 24.31 Billion
CAGR (2024 - 2029) 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Europe

Major Players

Automotive Intercooler Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive Intercooler Market Analysis

The Automotive Intercooler Market size is estimated at USD 17.96 billion in 2024, and is expected to reach USD 24.31 billion by 2029, growing at a CAGR of less than 5% during the forecast period (2024-2029).

Over the long term, the demand for EVs is growing fast across the world, and it is expected to pose a challenge to the growth of automotive intercoolers. Countries are striving to satisfy the rising fuel demand by focusing on eco-friendly transportation. EVs reduce the dependence of consumers on gasoline/diesel-based automobiles, and thereby, the need for turbochargers/superchargers decreases. There, it affects the demand for intercoolers.

The growth of the market studied is directly impacted by the growth of the global automotive turbocharger market, as intercooler plays a vital role in cooling compressed air. Further, an increase in environmental concerns is fueling the demand for thermoelectric generators in vehicles, which is expected to help enhance engine efficiency. It, in turn, is projected to boost the automotive intercooler market across the globe. Various governments enacted stringent regulations about vehicle emissions, which is likely to propel the automotive intercooler market across the globe.

Europe and Asia-Pacific are projected to hold a significant share of the global automotive intercooler market due to an increase in the sale of vehicles across the region. The presence of major automotive parts manufacturing industries across China, India, and Japan is anticipated to propel the automotive intercooler market across the Asia-Pacific.

Automotive Intercooler Market Trends

Increasing Adoption of Turbochargers is likely to Drive the Market Growth

The growth of the intercooler market is directly related to the automotive turbocharger market. The introduction of new emission legislations in Europe (Euro6d), India (BS-VI), and China (China VIb) increased pressure on the automotive industry to develop new and better exhaust gas after-treatment and combustion systems.

Smaller turbocharged engines can deliver similar power output to larger naturally aspirated engines, resulting in improved fuel efficiency. It is particularly beneficial for smaller engines used in passenger cars, allowing them to deliver the performance traditionally associated with larger engines. Turbochargers provide the "boost" needed for quick acceleration and increased power on demand.​

Eleven countries set or proposed fuel economy or greenhouse gas emission criteria for passenger cars, light commercial vehicles, and trucks. These restrictions, which cover more than 80% of global passenger vehicle sales, influence the economic decisions of major vehicle manufacturers worldwide and are among the most successful climate-change mitigation measures introduced in the last decade.​

Consumers increasingly prioritize fuel efficiency without sacrificing performance. Turbocharged engines provide a balance between power and efficiency, meeting the expectations of customers who desire both performance and better fuel economy. As consumer preferences shift towards turbocharged vehicles, automakers respond by offering turbocharged options across their model lineups. For instance,​

In May 2022, General Motors was looking forward to manufacturing a new twin-turbocharged six-cylinder gasoline engine. The turbocharger and engine shall be produced for pickup trucks and SUVs.​

These factors collectively drive the demand for automotive turbochargers as they align with the industry's goals of meeting regulatory requirements, enhancing performance, improving fuel efficiency, and adapting to evolving market trends.​

Moreover, E-Turbo can electrically recuperate spent or otherwise wasted exhaust energy by using a small motor to generate electricity and recharge the hybrid battery. According to the company, the first application of E-Turbo is likely to emerge in premium, high-performance vehicles from 2021 onward, and future applications may begin to appear in other segments leading up to 2025. This ability to be an onboard provider of electricity opens options for automakers in designing hybrid powertrains.

In light of the improvement in the technology of turbochargers, the demand for turbocharged vehicles is expected to increase, which may lead to an increase in demand for intercoolers during the forecast period.

Automotive Intercooler Market: Passenger Car CO2 Emission and Fuel Consumption, Normalized to NEDC, European Union, Historical and Proposed, gm/Km

Asia-Pacific Region Expected to Play Key Role in the Market

Asia-Pacific is likely to hold a significant share in the automotive intercooler in the wake of growing automotive sales in the region, coupled with technological advancements, such as two-stage supercharging. It compresses air and, transfers it back to the engine and enhances power in the vehicle. It is one of the factors increasing the demand for intercoolers in the market.

Further, an increase in the production of passenger cars and stringent government regulations for fuel economy standards is also surging the sales of intercoolers. The market is also supported by the growing presence of key automotive players and their active strategies, like launching new models and offering advanced solutions to their customers to maximize their market share in the region. Such developments are anticipated to encourage intercooler component manufacturers in the vehicles over the forecast period. For instance,

  • In October 2022, PT Toyota-Astra Motor (TAM), along with the launch of the all-new Land Cruiser SUV, introduced the new Fortuner as an ever-better car that is now equipped with a choice of a new diesel engine coded 1GD-FTV. This 2,755-cc 1GD FTV, In-Line 4 cylinders, 4 valves, and DOHC. The VNT Intercooler engine delivers a maximum power of 203.9 PS from 3,000 - 4,000 RPM and 50.9 kgm of torque from 1,600 - 2,800 RPM.
  • In August 2022, MG Extender was showcased at the Gaikindo Indonesia International Auto Show 2022 (GIIAS2022) ahead of its official launch locally in the near future. This pickup truck comes with a diesel engine with a capacity of 2,000 ccs, 16 Valve Turbo Intercooler paired with a 6-speed automatic transmission, and four alloy wheels measuring 255/60 R18.

Many companies provide direct replacement of intercoolers and custom intercoolers for modern, classic, or racing cars as per the customer's requirement and offer a warranty for replacement parts. This factor is increasing the aftermarket as well for automotive intercoolers in many countries across the Asia-Pacific region.

Automotive Intercooler Market - Growth Rate By Region (2023 - 2028)

Automotive Intercooler Industry Overview

The automotive intercooler market is consolidated owing to the presence of key players occupying the majority share in the market. Some of the prominent players operating in the market are Bell Intercoolers, Mishimoto, BMR, Garrett Motion Inc., Treadstone Performance Engineering Inc., etc.

Some of the major automotive OEMs are also launching new products in the market to gain a competitive edge over other players in the market.

  • In August 2022, FAW Vehicle Manufacturers South Africa (Pty) Ltd (FAW SA) announced the launch of its JH6 33.420FT to local and export markets. The 11,040 cc Euro 2 specification six-cylinder inline engine is water-cooled, turbo-charged, and includes an intercooler, producing 312 kW at 1,900 RPM and 1,900 Nm of torque at 1,200 RPM.
  • In April 2022, Toyota held the world premiere of the all-new GR Corolla in the USA with the 1.6 l in-line three-cylinder intercooler turbo engine found in the GR Yaris. It resulted in a maximum output of 224 kW (304 PS).

Automotive Intercooler Market Leaders

  1. Bell Intercoolers

  2. Mishimoto

  3. PWR Performance Products Pty Ltd

  4. Treadstone Performance Engineering Inc.

  5. Garrett Motion Inc.

*Disclaimer: Major Players sorted in no particular order

Automotive Intercooler Market Concentration
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Automotive Intercooler Market News

  • April 2022: Garrett Motion, a global differentiated technology leader, released an external wastegate product line to complement its extensive turbocharger and intercooler portfolio. External Wastegates regulate turbocharger shaft speed by venting exhaust gas around the turbine stage of the turbocharger.
  • March 2022: Toyota Motor Corporation held the world premiere of the all-new GR Corolla (North America specifications, prototype), a sports car, in Long Beach, California, USA. The GR Corolla boasts a strengthened version of the 1.6 l in-line three-cylinder intercooler turbo engine found in the GR Yaris. It resulted in a maximum output of 224 kW (304 PS). A valve-equipped triple-exhaust muffler reduces both exhaust pressure and noise.

Automotive Intercooler Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 The Growth of The Global Automotive Turbocharger Market

    2. 4.2 Market Restraints

      1. 4.2.1 Increasing Complexity of Modern Vehicles

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value - USD)

    1. 5.1 By Type

      1. 5.1.1 Air to Air Intercooler Market

      2. 5.1.2 Air to Water Intercooler Market

    2. 5.2 By Vehicle Type

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Commercial Vehicles

    3. 5.3 By Engine Type

      1. 5.3.1 Supercharged Engine

      2. 5.3.2 Turbocharged Engine

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Spain

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Bell Intercoolers

      2. 6.2.2 Valeo Group

      3. 6.2.3 MAHLE GmbH

      4. 6.2.4 Garrett Motion Inc. (Honeywell)

      5. 6.2.5 MANN+HUMMEL Group

      6. 6.2.6 Nissens Automotive A/S.

      7. 6.2.7 KALE Oto Radyatör A.Ş

      8. 6.2.8 NRF Global

      9. 6.2.9 Mishimoto Automotive

      10. 6.2.10 Modine Manufacturing Company

      11. 6.2.11 Pro Alloy Motorsport Ltd

      12. 6.2.12 PWR Performance Products Pty Ltd

      13. 6.2.13 Treadstone Performance Engineering Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Integration Of Advance Materials

**Subject to Availability
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Automotive Intercooler Industry Segmentation

The intercoolers (Charge Air Coolers) are designed to reduce fuel consumption while increasing engine power and efficiency. The intercooler's task is to reduce the temperature of the inlet gas and thus densify the air required, which optimizes the combustion. The intercooler lowers the temperature of the inlet gas from 130° C to 60° C, removes the negative effects of the turbo, and increases the power by around 20%.

The automotive intercooler market is segmented by type, vehicle type, engine type, and geography. By type, the market is segmented into air-to-air intercoolers and air-to-water intercoolers. By vehicle type, the market is segmented into passenger cars and commercial vehicles.

By engine type, the market is segmented into supercharged engines and turbocharged engines. By Geography type, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, market sizing and forecast are done on the basis of value (USD).

By Type
Air to Air Intercooler Market
Air to Water Intercooler Market
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Engine Type
Supercharged Engine
Turbocharged Engine
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa
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Automotive Intercooler Market Research FAQs

The Automotive Intercooler Market size is expected to reach USD 17.96 billion in 2024 and grow at a CAGR of 5% to reach USD 24.31 billion by 2029.

In 2024, the Automotive Intercooler Market size is expected to reach USD 17.96 billion.

Bell Intercoolers, Mishimoto, PWR Performance Products Pty Ltd, Treadstone Performance Engineering Inc. and Garrett Motion Inc. are the major companies operating in the Automotive Intercooler Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Automotive Intercooler Market.

In 2023, the Automotive Intercooler Market size was estimated at USD 17.06 billion. The report covers the Automotive Intercooler Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Intercooler Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Intercooler Industry Report

Statistics for the 2024 Automotive Intercooler market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Intercooler analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Automotive Intercooler Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)