Market Size of North America Automotive Intercooler Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Automotive Intercooler Market Analysis
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.
