Automotive Intercooler Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Vehicle and Commercial Vehicles), By Technology (Air-to-Air Intercooler and Air-to-Liquid Intercooler), by Sales Channel (OEM and Aftermarket), and Regional Forecast, 2024-2032

The automotive intercooler market is experiencing steady growth and is expected to grow highly in upcoming years. This growth is driven by several factors, such as increasing vehicle production, growing demand for performance vehicles, and increasing need for advanced intercoolers to comply with safety regulations. An intercooler is a heat exchanger used to cool a gas after compression, and it can be found in turbocharged or supercharged engines.

It is mostly used to counteract the heat compression and heat soak in the cylinders to make the air much denser, thus increasing the engine's performance and making it less susceptible to pre-ignition or engine knocking.

The growing demand for efficient cooling systems in next-generation vehicles is expected to fuel the demand for vehicle intercoolers. The growing focus of automakers towards increased vehicle efficiency and high performance further adds to the growth of this market.

Impact of COVID-19 on the Automotive Intercooler Market

COVID-19 had a substantial impact on the economy and the intercooler market. The slowdown in Public and disruptions in aftermarket or OEM customization of performance vehicles led to reduced demand for intercoolers. The pandemic has led to a decline in revenue for maintenance shops and intercooler manufacturing companies. The pandemic also raised concerns about the safety of service centers due to the risk of viruses transmitted through services. This also led to a decrease in the aftermarket of automotive intercoolers because it's directly related to the automotive performance components sector. The pandemic has also created a challenge for companies due to strict lockdowns and reduced efficiency for intercooler production. The lockdowns, travel restrictions, and social distancing measures imposed to curb the spread of the virus created a significant decline in demand for vehicles.

However, as the pandemic effects are reducing, vehicle sales increase. The young generation demanding high performance out of their vehicles, has led to high demand for different manufacturers of automotive intercoolers. Things have changed with the steadily growing demand for vehicle performance components.

Segmentation

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships


• Porter's Five Forces Analysis.


• Technological Developments


• Impact of COVID-19 on the automotive intercoolers market.

Analysis by Vehicle Type

The vehicle type segment includes passenger cars and commercial vehicles. Automotive intercoolers provide users with various options based on their needs. Whether it's a high-density performance air-to-liquid intercooler for sports cars, Aftermarket platforms typically offer a variety of vehicle types to cater to diverse intercooler requirements. The demand for passenger vehicles in the context of cooled advanced vehicles has grown significantly in recent years. These intercoolers offer an alternative to affordable and accessible performance mapping and boost in horsepower, allowing individuals to optimize their vehicles on-demand without the responsibilities and costs associated with expensive after-sales. Additionally, the growing popularity of sports cars and custom-built performance cars is expected to drive growth in this segment.

Analysis by Technology Type

As for technology type, the new and improved air-to-liquid intercoolers will hold a significant market portion in upcoming years as they are more advanced and create more pressure in the engine for more horsepower without a change in the engine's displacement. The automotive sector is continuously evolving, and market dynamics are changing over time, which will further increase and boost sales of these types of engines and intercoolers.

Analysis by Sales Channel

The sales channel segment includes OEM and aftermarket. The aftermarket channel is expected to grow as installing these intercoolers is relatively less costly. As the number of vehicles on the road increases and older vehicles remain in use, there is a continual demand for aftermarket intercoolers to convert into performance cars. The aftermarket for intercoolers benefits from the need to replace worn-out or damaged components, especially in competitive track motorsports or road sports vehicles. Intercooler manufacturers' in-house production and standardization help in added revenue for producing these and its compatibility with job and custom shops. The aftermarket is expected to continue growth during the forecast period.

Analysis by Region

The highest growth rate is expected in the Asia Pacific market, especially Japan, due to having a major culture of JDM (Japan Domestic Market), which is to modify normal road-going cars into super-tuned high-performance cars heavily, and an integral component of this is the intercooler. High automation and the presence of major manufacturers of cars in Japan and the rest of the Asia Pacific will positively impact intercooler sales, thus increasing efficient and reliable vehicle popularity in the Asia Pacific. The rapid adoption of vehicles and their affordability by consumers will boost intercoolers' regional growth.

Key Players Covered

GReddy (Japan), HKS Co. Ltd (Japan), Denso Corporation (Japan), Mishimoto Automotive (Japan), Bell Intercoolers (U.S), Valeo S.A (France), Honeywell International Inc. (U.S), and Nismo Motorsports International (Japan).

Key Industry Developments

• In July 2021, Nissan launched the GT-R50, powered by a twin-turbocharged 3.8-liter V6. The engine has been built by Nissan's in-house tuning company, NISMO, to feature larger turbos, larger intercoolers, new fuel injectors, uprated pistons, and a new exhaust system for a maximum output of 710bhp and 780Nm of torque.


• In May 2020, Ford Performance launched  VMP Performance's new intercooler for the 2021 Ford Mustang Shelby GT500, which helps eliminate heat soak and keep the supercharged engine cool and efficient.