COVID-19 impact on Automotive Intercooler Market Research Report - Global Forecast till 2023
Posted May 5,2020 in Cars and Vehicles.
global COVID-19 impact on Automotive Intercooler Market was analyzed by Market Research Future (MRFR), and a notable growth was projected for the global market in the coming years. The report revealed some of the key factors that are responsible for the growth of the global COVID-19 impact on Automotive Intercooler Market. This includes the rising investments made by automotive manufacturers, technological advancements, and rising demand in the automotive industry. An increasing sale of passenger and commercial vehicles was noticed in recent years. The rising sales volume of vehicles is expected to increase the use of intercooler in vehicles, thereby enhancing its efficiency level. Automotive manufacturers are making considerable investments in R&D activities to develop technologies that can push the efficiency level of vehicles and curb down their environmental impact. However, it was also revealed that the high installation cost associated with intercoolers in vehicles can cause the global market to falter in the coming years.
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The global COVID-19 impact on Automotive Intercooler Market segmentation is based on the following key dynamics: vehicle type, type, and engine type.
By type, the market divides into air to water and air to air. The air to water segment is projected to hold the largest share of the market over the forecast period. This is due to the ease of installation it brings to the table and its enhanced efficiency level. The air to air intercoolers are one of the most common types of intercoolers owing to the increasing availability of limitless supply of cooling water across the globe. The segment is expected to grow with the highest CAGR compared to the air to water segment as it requires much less power and no liquid resulting.
By vehicle type, the market segments into commercial and passenger vehicles. The passenger car segment is most likely to dominate the global COVID-19 impact on Automotive Intercooler Market over the forecast period. This is due to the surging sales volume of passenger cars across various emerging economies/
By engine type, the market includes turbocharged diesel, supercharged gasoline, and conventional diesel.
The global COVID-19 impact on Automotive Intercooler Market covers the following geographical regions: Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Among these regions, the Asia Pacific region leads the COVID-19 impact on Automotive Intercooler Market with the highest percentage to its name. The regional market is expected to grow during the forecast period at a considerable pace to remain ahead in the global standings. This is primarily due to the growing sales and production volume of passenger and commercial vehicles in this region. Additionally, the automotive manufacturers in this region are making high investments in developing innovative products, one which is anticipated to propel the growth of the market over the forecast period. The presence of China is another key driving factor. The Chinese automakers are seen developing and sanctioning trade-friendly policies that enable them to produce a huge number of vehicles. The automotive industry is also expected to garner huge investments from various giants of the market in this region because of the growing demand for passenger cars. This is another likely growth driver of the market in this region. The European region is also expected to hold a stronghold in the global market due to the intensifying competition in the automotive industry herein. Germany is expected to be the dominant country in this region.
The global COVID-19 impact on Automotive Intercooler Market includes a host of key players. Some of the key players identified in the market were listed by MRFR in the report. This includes KVR International (U.S.), Treadstone Performance Engineering (U.S.), Honeywell International Inc. (U.S.), Bell Intercoolers (U.S.), Guangzhou Woshen Auto Radiator (China), PWR (Australia), Forge Motorsport Inc (U.S.), Mishimoto (U.S.), KALE Oto Radyator (Turkey), JC Performance Parts (China), and Modine Manufacturing (U.S.).
Feb 2019, it was reported that Evolve Automotive tested its CSF intercooler on BMW M2 GTS to ensure that it doesn’t heat up as it may without it.