Report : Europe Automotive Charge Air Cooler Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Air-Cooled Charge Air Cooler and Liquid-Cooled Charge Air Cooler), Fuel Type (Gasoline and Diesel), Core Type (Tube, Fin, bar and Plate), and Vehicle Type (Passenger Cars, LCV, Trucks and Buses)
At 6.0% CAGR, the Europe Automotive Charge Air Cooler Market is speculated to be worth US$ 964.35 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe automotive charge air cooler market was valued at US$ 680.99 million in 2022 and is expected to reach US$ 964.35 million by 2028, registering an annual growth rate of 6.0% from 2022 to 2028. Rise in demand for downsized engines and rise in penetration of turbochargers in passenger cars are the critical factors attributed to the market expansion.
Shifting focus of countries towards fuel-efficient vehicles and government norms to promote fuel-efficient and environmental-friendly vehicles is driving the automotive charge air cooler market. Major automotive companies have been engaged in improving the existing engine technology through substantial R&D investments. This is likely to further boost the scope of improving performance and extending technology to a wide class of vehicle at a more compact size. Introduction of the standards is likely to act as a major opportunity for the adoption of charge air cooler technology.
On the contrary, rising demand for electric vehicles hurdles the growth of Europe automotive charge air cooler market.
- Based on type, the Europe automotive charge air cooler market is segmented into air cooled charge air cooler and liquid cooled charge air cooler. The air cooled charge air cooler segment held 65.3% market share in 2022, amassing US$ 444.80 million. It is projected to garner US$ 604.45 million by 2028 to expand at 5.2% CAGR during 2022–2028.
- Based on fuel type, the Europe automotive charge air cooler market is segmented into gasoline and diesel. The diesel segment held 80.0% market share in 2022, amassing US$ 545.05 million. It is projected to garner US$ 757.78 million by 2028 to expand at 5.6% CAGR during 2022–2028.
- Based on core type, the Europe automotive charge air cooler market is segmented into tube, fin, bar and plate. The fin segment held 45.3% market share in 2022, amassing US$ 123.31 million. It is projected to garner US$ 192.97 million by 2028 to expand at 7.7% CAGR during 2022–2028.
- Based on vehicle type, the Europe automotive charge air cooler market is segmented into passenger cars, LCV, trucks and buses. The passenger cars segment held 47.3% market share in 2022, amassing US$ 322.10 million. It is projected to garner US$ 461.92 million by 2028 to expand at 6.2% CAGR during 2022–2028.
- Based on country, the Europe automotive charge air cooler market is segmented into Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Rest of Europe captured 38.5% market share in 2022. It was assessed at US$ 262.21 million in 2022 and is likely to hit US$ 371.42 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating the Europe automotive charge air cooler market are AKG Group, Dana Limited, Delphi Technologies Plc (BORGWARNER INC.), DuPont, Hanon Systems, Mahle GmbH, Modine Manufacturing Company, T. RAD Co. Ltd., Valeo, and Vestas aircoil A/S among others.
- In 2021, Dana Limited has announced that its Dana TM4 joint venture is establishing a new manufacturing facility in Åmål, Sweden which will initially produce electric motors for the mobility industry. This new operation will also help company to serve a broad range of automotive components to European customers.
- In 2022, Vestas aircoil A/S created a cooler with numerous mounted temperature sensors (thermocouples). According to the business, this is a tiny but crucial step in the effort to create digital twins of the coolers. The sensors, which are installed close to the coolers' walls, will be utilized to assess both the local temperature distribution and our structural model.
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