Automotive Intercooler Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Automotive Intercooler Market 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 by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The Report offers market size and forecast for Automotive pressure sensors market in value (USD billion) for all the above-mentioned segments.

Market Snapshot

automotive intercooler market
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: >5 %

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Market Overview

The Automotive Intercooler Market was valued at USD 16.29 billion in 2021, and it is expected to reach USD 22.05 billion by 2027, registering a CAGR of about 5% during the forecast period 2022 - 2027.

During the outbreak of the pandemic COVID-19, the market was hit adversely because of the disruptions caused in the supply chain as several major economies of the world were forced into lockdown, and economic activities were halted during this period. The demand for passenger vehicles also fell drastically during this period. Yet, with the gradual opening up of economies, the demand returned to the market, and markets like China and India witnessed huge demand for passenger cars as the consumer preference changed from public transport to personal vehicles.

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 suffice 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, Increase in environmental concerns is fueling the demand for the thermoelectric generator in the vehicle, which is expected to help enhance engine efficiency. This, in turn, is projected to boost the automotive intercooler market across the globe. Various governments have 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.

Scope of the report

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 has been segmented into air-to-air intercoolers and air-to-water intercoolers. By Vehicle Type, the market has been segmented into passenger cars and commercial vehicles.

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

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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Key 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) has increased pressure on the automotive industry to develop new and better exhaust gas after-treatment and combustion systems.

  • In December 2021, BMTS Technology announced that its turbocharger technology with gasoline FNT would boost modern engines of a European premium OEM. This powerful mid-size gasoline engine is developed to meet the stricter Euro 7 emissions standards with a turbocharger operating even at exhaust gas temperatures above 1000°C. With this nomination, BMTS expands not only its customer portfolio but also its gasoline FNT product range.

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 the 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_segment

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, which compress air and transfer it back to the engine and enhance power in the vehicle. This 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, DOHC, VNT Intercooler engine, delivers 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 September 2020, Anhui Zhongding Sealing Parts announced that its subsidiary Anhui Tristone Flowtech Co., Ltd. became a supplier of automotive thermal management system assemblies and intercooler pipe assemblies for the X01 project of Chongqing Lixiang Automotive Co., Ltd. (Lixiang Automotive). The project will be valued at CNY 664 million for its whole life cycle.

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_geography

Competitive Landscape

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., and Treadstone Performance Engineering Inc Etc. For instance,

  • In 2021, Mishimoto, who already has a catch, can go for the 2.3t in the Ranger and has released their intercooler piping upgrade. The intercooler is said to have claimed +11 whp and +22 wtq with their setup on the stock tune. There are some notes that they are seeing the stock tune pull timing to try and adjust for the increase in air volume.
  • In September 2020, Anhui Zhongding Sealing Parts Co., Ltd. announced that its subsidiary Anhui Tristone Flowtech Co., Ltd. became a supplier of automotive thermal management system assemblies and intercooler pipe assemblies for the X01 project of Chongqing Lixiang Automotive Co., Ltd. The project will be valued at CNY 664 million for its whole life cycle.

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 April 2022, Toyota holds the world premiere of the all-new GR Corolla in the USA with the 1.6-liter in-line three-cylinder intercooler turbo engine found in the GR Yaris, resulting in a maximum output of 224 kW (304 PS).
  • In February 2021, Ford Performance announced upgrades to the mid-engine Ford GT for 2020, including engine power increased by 13 hp to 660 hp and improved cooling. The 2020 GT’s 3.5-liter EcoBoost twin-turbo V6 engine features a broader torque band and revised engine calibration, plus mechanical upgrades that include gallery-cooled pistons and higher-energy ignition coils.

Recent Development

  • In 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.
  • In 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-liter in-line three-cylinder intercooler turbo engine found in the GR Yaris, resulting in a maximum output of 224 kW (304 PS). A valve-equipped triple-exhaust muffler reduces both exhaust pressure and noise.
  • In March 2021, NORMA Group announced that it has been awarded a large contract to provide transmission oil cooling lines. Starting in the summer of 2022, an average of more than 550,000 vehicles per year from a German car maker are to be equipped with these products. Two lines each are to be installed in up to 4.5 million vehicles by 2030.The line systems transport the transmission oil from the transmission to the intercooler via a thermostat, where it is cooled.
  • In November 2021, GM temporarily suspended production of their 3.0-liter in-line 6-cylinder DMAX turbodiesel, due to an unspecified supplier issue, However the production has been resumed again by end of 2021. This engine features a DOHC valvetrain configuration, and utilizes an air-to-liquid charge air cooler (intercooler).
  • In February 2020, Ford Performance announced upgrades to the mid-engine Ford GT for 2020, including engine power increased by 13 hp to 660 hp and improved cooling. The 2020 GT’s 3.5-liter EcoBoost twin-turbo V6 engine features a broader torque band and revised engine calibration plus mechanical upgrades that include gallery-cooled pistons and higher-energy ignition coils. Additional engine cooling and airflow updates includes new buttress air ducts designed to increase air flow by 50% while larger intercoolers keep charge air temperatures cooler.

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

    2. 4.2 Market Restraints

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

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      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 billion)

    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

**Subject to Availability

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Frequently Asked Questions

The Automotive Intercooler Market market is studied from 2018 - 2027.

The Automotive Intercooler Market is growing at a CAGR of >5% over the next 5 years.

The Automotive Intercooler Market is valued at 17 Billion USD in 2018.

The Automotive Intercooler Market is valued at 22 Billion USD in 2027.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

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

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