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 |
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.
North America Automotive Intercooler Industry Segmentation
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.
| By Type | |
| Air to Air Intercooler | |
| Air to Liquid Intercooler |
| By Engine Type | |
| Turbocharged Engine | |
| Supercharged Engine |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicle |
| By Sales Channel | |
| OEM | |
| Aftermarket |
| By Country | |
| United States | |
| Canada | |
| Rest of North America |
North America Automotive Intercooler Market Size Summary
The North America automotive intercooler market is poised for significant growth, driven by the increasing demand for high-performance turbochargers and stringent fuel economy standards. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a decline in vehicle production and sales. However, the subsequent recovery in vehicle production is expected to propel the market forward. The region's focus on enhancing engine efficiency and reducing emissions is further boosting the demand for advanced intercoolers. The presence of numerous racing events and teams in North America also contributes to the market's expansion, as customized turbocharging and supercharging systems become more prevalent.
Major vehicle manufacturers in the United States are increasingly adopting turbocharged engines to improve fuel efficiency, which is expected to drive the intercooler market. The introduction of innovative technologies, such as E-Turbo and advanced exhaust systems, highlights the industry's commitment to innovation and sustainability. Despite challenges like semiconductor shortages, the market is anticipated to grow as R&D investments continue to rise. Key players in the market, including Garrett Motion Inc., Valeo Service SAS, and others, are actively investing in research and development to enhance their product offerings, further supporting the market's growth trajectory.
North America Automotive Intercooler Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Air to Air Intercooler
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2.1.2 Air to Liquid Intercooler
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2.2 By Engine Type
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2.2.1 Turbocharged Engine
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2.2.2 Supercharged Engine
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2.3 By Vehicle Type
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2.3.1 Passenger Cars
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2.3.2 Commercial Vehicle
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2.4 By Sales Channel
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2.4.1 OEM
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2.4.2 Aftermarket
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2.5 By Country
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2.5.1 United States
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2.5.2 Canada
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2.5.3 Rest of North America
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North America Automotive Intercooler Market Size FAQs
What is the current North America Automotive Intercooler Market size?
The North America Automotive Intercooler Market is projected to register a CAGR of 9% during the forecast period (2024-2029)
Who are the key players in North America Automotive Intercooler Market?
Bell Intercoolers, GARRETT MOTION INC., Treadstone Performance Engineering, PWR Holdings Limited and Valeo Service SAS are the major companies operating in the North America Automotive Intercooler Market.
