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North America automotive intercooler market is valued at USD 2.0 Billion in 2021 and is projected to grow at USD 3.35 Billion by 2027, registering a CAGR of 9% in terms of revenue during the forecast period.
The COVID-19 pandemic had a significant effect on the automotive intercooler market directly in the short term as the production and sales of new vehicles witnessed a decline in 2020. In North America the 2020 production of 15,7 million units represented a 20% share of the global production. The NAFTA region saw a decline in production by more than 20%, with United State manufacturing declining by 19%. However, in 2021, the production of vehicles increased considerably and is expected to continue during the forecast period. This is likely to drive the market during the forecast period.
Stringency in fuel economy standards, such as enactment of the CAFÉ standard to reach the fuel economy target of 35.5 mpg by 2016, has been one of the major drivers of intercoolers in the region. Growing demand for high-performance turbochargers which is primarily being used in racing cars, which in turn is expected to drive the demand for intercoolers.
Many racing events are organized in North America and has major presence of racing team, who are involved in making customized systems to be integrated in the vehicle. These systems comprehensively involve the usage of a turbocharging and supercharging system and have intercoolers tailored to meet the needs suited.
Rising environmental concerns is fueling the demand for thermoelectric generator in the vehicle, which helps to enhance engine efficiency. This, in turn, is projected to boost the automotive intercooler market across the region.
Scope of the report
Intercoolers are designed to increase engine power and efficiency and also reduce fuel consumption. The main function of the intercooler is to reduce the temperature of the inlet gas and thus densify the air required which optimizes the combustion.
The North American automotive intercooler market is segmented by type, engine type, by vehicle type, and by sales channel, and by country. Based on type, the market is segmented into the air to air intercooler and Air to liquid intercooler. Based on engine type, the market is segmented into supercharged engines and turbocharged engines. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Based on the Sales channel, the market is segmented into OEM and aftermarket. Based on country, the market is segmented into United States, Canada, and Rest of the North America. The report covers the market size in value (USD Billion) for all the above segments across North America.
|Air to Air Intercooler|
|Air to Liquid Intercooler|
|By Engine Type|
|By Vehicle Type|
|By Sales Channel|
|Rest of North America|
Key Market Trends
Rise in adoption of turbocharger
Enactment of stringent emission norms across the region is prompting vehicle manufacturers to develop advanced exhaust systems in vehicles which is likely to increase the adoption of advanced turbochargers. For instance,
- In April 2022, Garret Motion introduced 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.
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.
Major vehicle manufacturers are introducing turbocharged engines in their vehicles to enhance vehicle engine fuel efficiency. For instance,
- In June 2022, Mazda Motor Corporation introduced the new CX-8 SUV. The SUV features the addition of a turbocharged petrol 2.5 T High Plus AWD variant.
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United States dominate the Market
United States has major presence of vehicle manufacturer which is likely to witness major growth for automotive intercooler market. After declining 27.9% in 2020, US car sales are expected to grow only 7.5% in 2021, as supply issues resit robust demand. Low production growth in 2021 is mainly due to semiconductor shortage, and the impact of Hurricane Ida on petrochemical companies has caused supply constraints of plastics. While semiconductor shortage is expected to last into 2022, output of vehicles is forecast to grow 12% during the forecast period. The automotive industry is also at the forefront of innovation. New R&D initiatives are transforming the industry to better respond to the opportunities of the 21st century. According to Auto Alliance, of the USD 105 billion spent on R&D globally, almost a fifth (USD 18 billion) is spent in the United States, which is likely to witness major growth for the market.
The electric vehicle demand creates newer opportunities for OEMs, aftermarket parts and component manufacturers, tire manufacturers, and players across the industry supply chain. As a result, IC engine vehicle parts and components services centers expand into electric vehicles as electric vehicles become more accessible.
- In April 2022, Tesla, Inc. proposed a 100,000-square-foot facility in St. Pete, Florida. The new Tesla center will handle sales, service, and deliveries in the area. The new Tesla facility will be located on a 4.21-acre site with an existing 100,000-square-foot building formerly known as a Kanes Furniture liquidation center.
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North America automotive intercooler market is dominating by major players such as Bell Intercoolers, Mishimoto, BMR, Garrett Motion Inc., Valeo Service SAS and Treadstone Performance Engineering Inc., among others.Major key players are investing on the research and development of advanced exhasut system which in turn witnessing major growth for the market.
GARRETT MOTION INC.
Treadstone Performance Engineering
PWR Holdings Limited
Valeo Service SAS
- In June 2022, Garrett Motion introduced a line of turbocharged performance parts with its new Garrett GVW Vent External Wastegates. These additional ancillary components give enthusiasts the ability to compose complete turbocharger systems.
- In February 2022, Garrett Motion introduced VNT technology continues to evolve with more advanced features, paving the way for critical mass in gasoline powertrains. The introduction of second-generation VNT technology for use in gasoline passenger vehicles across North America is a particularly significant milestone for the company.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Air to Air Intercooler
5.1.2 Air to Liquid Intercooler
5.2 By Engine Type
5.2.1 Turbocharged Engine
5.2.2 Supercharged Engine
5.3 By Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicle
5.4 By Sales Channel
5.5 By Country
5.5.1 United States
5.5.3 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Bell Intercoolers
6.2.2 Mahle GmbH
6.2.3 Mishimoto Automotive
6.2.4 Garrett Motion Inc.
6.2.5 Treadstone Performance Engineering
6.2.6 MANN+HUMMEL Group
6.2.7 Nissens A/S
6.2.8 Kale Oto Radyator
6.2.9 Valeo Service SAS
6.2.10 NRF B.V.
6.2.11 Modine Manufacturing Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The North America Automotive Intercooler Market market is studied from 2018 - 2027.
What is the growth rate of North America Automotive Intercooler Market?
The North America Automotive Intercooler Market is growing at a CAGR of 9% over the next 5 years.
What is North America Automotive Intercooler Market size in 2018?
The North America Automotive Intercooler Market is valued at 2 Billion USD in 2018.
What is North America Automotive Intercooler Market size in 2027?
The North America Automotive Intercooler Market is valued at 3 Billion USD in 2027.
Who are the key players in North America Automotive Intercooler Market?
Bell Intercoolers, GARRETT MOTION INC., Treadstone Performance Engineering, PWR Holdings Limited , Valeo Service SAS are the major companies operating in North America Automotive Intercooler Market.