Growth Trend of Automotive Intercooler Market
Overview of automotive intercooler market
During the forecast period from 2020 to 2025, the compound annual growth rate of the automotive intercooler market is expected to exceed 5%. The growth of the studied market is directly influenced by the growth of the global automotive turbocharger market, as intercoolers play a crucial role in cooling compressed air. It lowers the air temperature and increases the output and performance of the engine, thus helping to reduce exhaust emissions and meet legal emission limits.
In addition, intercoolers help to meet fuel economy standards by providing enough oxygen-filled air to maintain proper air-fuel ratio and proper engine combustion. With the increase in air density by intercoolers, the oxygen content in the air increases, resulting in the air's ability to accommodate more fuel. This helps to ensure better fuel combustion, which in turn helps to reduce exhaust emissions. The use and development of small engines with the help of turbochargers are expected to provide better performance and output, thus promoting market growth.
However, the rapid growth in demand for electric vehicles worldwide is expected to pose a challenge to the growth of car intercooler. Countries are striving to meet the growing fuel demand by focusing on environmentally friendly transportation. Electric vehicles reduce consumers' reliance on gasoline and diesel cars, thus reducing the demand for turbochargers and mechanical superchargers. There, it affects demand for intercoolers.
Trends of automotive intercooler market
The increase in the adoption rate of turbochargers may drive market growth. The growth of the automotive intercooler market is directly related to the automotive turbocharger market. New emission regulations introduced in Europe, India, and China have added pressure to the automotive industry to develop new and better exhaust after-treatment and combustion systems.
Technology companies have launched their third-generation gasoline turbocharger technology. Compared to the previous generation technology, the new generation technology has representative power from 90kW/L to over 100kW/L and torque from 175Nm/L to over 200Nm/L.
Technology companies have introduced electric turbo technology or E-Turbo. E-Turbo eliminates the delay between when the driver steps on the gas pedal and feels acceleration. Turbochargers powered by electricity also eliminate design limitations and prioritize turbo efficiency at low engine speeds to drive the compressor.
In addition, E-Turbo can generate electricity and charge hybrid power batteries by using small electric motors to recover waste exhaust energy that is consumed or otherwise wasted. According to the company, E-Turbo's first application could appear in high-end, high-performance cars from 2021, and future applications may appear in other fields before 2025. This ability to become a vehicle supplier that provides electrical power provides a choice for automakers to design hybrid power systems. With the improvement of turbocharger technology, it is expected that the demand for turbocharged vehicles will increase during the forecast period, which may lead to an increase in demand for the automotive intercooler.