The global railway after-cooler industry is projected to have a high-paced CAGR of 5.4% during the forecast period. The current valuation of the railway after-cooler market is US$ 1,032.2 Million in 2023. The value of the railway after-cooler market is anticipated to reach a high of US$ 1,746.5 Million by the year 2033.
Key Takeaways:
- During the forecast period, Asia Pacific is expected to account for the largest share of the global railway after-cooler market. The market in this region is expected to rise, which is attributable to the improving living standards of the major population as a result of Asia Pacific’s fast-developing industrial sector and increasing urbanization are important contributors to the region’s rising railway output.
- The railway after-cooler market in North America is predicted to develop rapidly, particularly in the U.S., which has generated a CAGR of 19% during the projected period. This is owing to engine development which has emerged from the ongoing drive to reduce fuel consumption and exhaust emissions.
- Owing to the simplicity of design, cheap cost, lightweight, ease of usage, and enhanced reliability, the “air-cooled charge air cooler” product type is expected to hold the greatest revenue through the forecast period.
- Increased demand for automotive charge air coolers in mid-priced vehicles, as well as the ease with which air cooler systems may be deployed, makes the “OEM” sales channel type likely to account for a significant share and is the most preferred sales channel type.
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The locomotive industry is experiencing the most potentially disruptive decade, and strict government regulations covering carbon emission reductions and advances in fuel efficiency are putting enormous pressure on manufacturers. This is the main factor driving the sales of railway after-coolers, which is likely to increase. Locomotive production in developing nations is predicted to be greater than in industrialized economies. This is mostly due to rising urbanization and stable economic circumstances in these areas.
During the projection period, the fleet on the railroads is also predicted to increase at a moderate rate, creating significant prospects for development in the railway after-cooler aftermarket. The trend of urbanization is increasing at an exponential rate, resulting in an increase in the average income of the urban population and the ability to improve their lifestyles.
Furthermore, increased demand for modern locomotives is forcing manufacturers to boost the production of commercial trains, creating considerable potential for the global railway after-cooler market size. Engine downsizing is a developing trend in the railway industry as manufacturers strive to reduce fuel consumption and increase vehicle economy. A railway aftercooler’s principal purpose is to increase engine combustion efficiency. This, in turn, makes it a marketable product. Clients are increasingly adopting public transportation, such as high-speed trains and metros, to commute and avoid traffic congestion.
Furthermore, the rolling stock industry’s need for dynamic and rapid transit systems is driving the market. For remote diagnostics, asset planning, and long-distance tracking, developing countries rely largely on effective asset and fleet management systems. Furthermore, automation and internet of things (IoT) technology are being used in railway systems is favorably influencing the railway after-cooler market growth.
However, consumers in wealthy nations across Europe and North America are opting for electric trains due to increased environmental consciousness and volatility in fuel prices. Because a railway after-cooler is not employed in electric trains, the global railway after-cooler market growth is hampered.
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Competitive Landscape:
Owing to the existence of both international and local players, the global railway after-cooler market is fragmented. A vast number of manufacturers have a significant market share in their respective regions. Organic developments, such as product releases and approvals, are often highly adopted by key companies. For instance, in May 2017, Dana developed a technically superior heat exchanger for inductive air systems for FCA’s 2018 Dodge Challenger SRT Demon. These factors are estimated to expand the global railway after-cooler market size. The following companies are key leaders in the global market for railway after-cooler:
- Dana Limited
- Delphi Auto Parts
- Denso Corporation
- DuPont
- MAHLE Inc.
- Banco Products Ltd.
- Calsonic Kansei Corporation
- Modine Manufacturing Company
- Valeo SA
- Vestas Aircoil
Key Segments Profiled in the Railway After-cooler Market Survey
By Product Type:
- Air-cooled Charge Air Cooler
- Liquid-cooled Charge Air Cooler
By Position:
- Stand-alone
- Integrated
By Fuel Type:
- Gasoline
- Diesel
By Material:
- Aluminum
- Stainless Steel
- Copper
- Others
By Sales Channel:
- OEM
- After-market
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By Region:
- North America
- Latin America
- Asia Pacific
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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