Oil Coolers Market Size was valued at USD 1,378.56 million in 2022. The Oil Coolers Market industry is projected to grow from USD 1,452.45 million in 2023 to USD 2,237.72 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.24% during the forecast period (2023 - 2030). The primary force behind the growth of the Oil Coolers market worldwide is focus on increasing the efficiency of several industrial equipment. Growing focus across industries to increase the operational efficiency of various machining equipment and advantages of oil coolers are driving the market growth. Further, technological advancements are expected to provide a lucrative opportunity to the market players over the forecast duration.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
An internal combustion engine's surplus heat is normally removed using oil cooling, which uses oil as a coolant. Heat is transferred from the hot engine to the oil, which typically goes via a heat exchanger next. Oil coolers have a number of benefits and drawbacks when used in heat exchangers, including: Oil can be used to cool objects at temperatures that water cannot, as it has a higher boiling point than water. Given the variety of uses for which the fluids in heat exchangers are heated, high temperatures are to be expected. The oil cooler is intended to keep the temperatures from getting out of control.
Engine oil and hydraulic fluids are cooled using oil coolers. The heat from the lubricant is transferred to the oil cooler, which is then cooled by the surrounding air or radiator coolant. In some installations, the radiator water tank houses the oil cooler as well. By doing that oil coolers not increase the efficiency of the industrial equipment but protect them possible failure and extend the equipment life as well. This factor, in turn, is likely to drive the demand for oil coolers in industrial application.
Based on the capacity, the market has been segmented into below 10kW and above 10kW. Among them, above 10kW segment dominated the Oil Coolers Market with a value of USD 895.46 million in 2022; with an expected CAGR of 5.84 % during the forecast period. 10kW oil coolers are basic models for industrial application. These oil coolers can be customizable according to the requirements. Amid growing demand for this category, manufacturers are introducing oil coolers that has seal-free immersion pump, maintenance-free and electronically adjustable. Such oil coolers come up with feed pressure indicator and level indicator. The demand for 10kW capacity oil coolers are gaining traction and widely used in high-end agricultural and industrial application.
Based on type, the oil cooler market has segmented into 7 Row Oil Cooler, 10 Row Oil Cooler, 15 Row Oil Cooler, 19 Row Oil Cooler, and others. 10 Row Oil Cooler segment dominated the Oil Coolers Market with a value of USD 410.90 million in 2022; with an expected CAGR of 6.70 % during the forecast period. To cool down engine oil, the 10 row oil cooler functions somewhat similarly to a radiator. The friction that is produced when an engine rotates at a fast speed while under a heavy load transfers heat into the oil, which overheats and eventually breaks down, reducing lubrication and shortening engine life.
Based on the application, the market has been segmented into industrial, marine, agriculture and others. Among them, the industrial segment dominated the Oil Coolers Market with a value of USD 671.52 million in 2022; with expected CAGR of 5.99 % during the forecast period. Agriculture, automotive, chemical and petrochemical, construction and mining, energy and power, food and beverage, maritime, oil and gas, and other industries use oil coolers extensively. The cooler's size is directly inversely proportional to its heat load or cooling capability. However, prominent manufacturers have noted that identifying process parameters such as necessary flow rate, oil temperature threshold, oil viscosity, and others to achieve improved efficiency has been a challenging task.
Region-wise Oil Coolers Market has been divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest market share of 37.19% in 2022, with a market value of USD 512.64 million; the region is expected to register a CAGR of 6.94% during the forecast period. North America was the second-largest market in 2021, valued at USD 374.19 million; the market is projected to exhibit the highest CAGR of 5.53%.
The demand for oil cooler in the region is largely driven by the growing demand from India and China. These two countries are also the major exporter of oil coolers in the region. Half of the global market's demand for agricultural machinery is met in the Asia-Pacific region. The need for agricultural machinery is mostly driven by the declining worker force and growing farmer understanding of modern farming techniques. Additionally, as agricultural equipment becomes more technologically advanced, there will be a greater demand for used agricultural equipment. This will enhance revenue share, which will likely raise demand for oil coolers in the region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Oil Coolers Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Oil Coolers Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global Oil Coolers industry to benefit clients and expand the Oil Coolers market sector is to manufacture locally to reduce operating costs. The market for Oil Coolers is recognized as being extremely competitive and fragmented. The market for Oil Coolers offers considerable potential opportunities for domestic and unorganised companies. Some of the key players operating in the Oil Coolers Market are MAHLE, AKG Group, Calsonic Kansei Corporation, PWR Corporate, NRF, Thermex, Earls Performance, CBR Performance Products, Proflow and RAAL. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.
Earls:Performance's business includes the production of automobile parts and accessories. It provides braided hose and fittings to the motorsport industry. It works with a wide range of motorsport teams, including F1, F3, A1GP, Superleague Formula, FIA GT, Indy, Touring Car, Superbike, Sidecar, and World Rally. It creates a comprehensive line of high-performance hydraulic hose and fittings in a variety of core materials to suit all applications. Speedflex stainless braided brake hose, clutch hose, oil & fuel hose, coolant hose, power steering hose, hose finishers, Temp-a-Cure oil coolers, Staubli and Earls disconnect couplings, fuel and oil filters, Holley, Facet, and Fuelab fuel pumps are among the company's offerings. It supplies products to the automotive industries all over the world.
Mahle GmbHis a leading international development partner and automotive supplier. It makes internal combustion engine systems and engine peripherals. Piston systems, valve train, air management, cylinder components, liquid management systems, small engine components, motorsports, and special engines are all available. It sells its products to the automotive industry all over the world.
July 2022MAHLE has developed the most durable electric motor, the superior continuous torque (SCT) E-motor. The MAHLE electric motor uses an advanced integrated oil cooling system that not only makes it more durable but also enables the use of waste heat produced throughout the entire system of the vehicle.
October 2021MAHLE Aftermarket UK has expanded its thermal management portfolio. Six A/C Condensers, five A/C Compressors, 27 Charge Air Coolers, 11 Oil Coolers, and 43 new Radiator references are among the most recent additions to the range. Oil coolers are now available for the Audi Q7, Audi A6 Hybrid, BMW M, BMW 750, and Mercedes Sprinter.
September 2018NRF debuted two new oil coolers at Automechanika Frankfurt 2018. NRF introduced six different types of oil coolers suitable for various truck brands.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1,378.56 million |
| Market Size 2023 | USD 1,452.45 million |
| Market Size 2030 | USD 2,237.72 million |
| Compound Annual Growth Rate (CAGR) | 6.24% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | capacity, type, application and region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa and South America |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina, |
| Key Companies Profiled | MAHLE (Germany), AKG Group (Austria), Calsonic Kansei Corporation (Japan), PWR Corporate (Australia), NRF (Netherlands), Thermex (Russia), Earls Performance (United States), CBR Performance Products (Australia), Proflow (Australia) and RAAL (Slovenia) |
| Key Market Opportunities | ·      Technological Advancements And New Product Launches |
| Key Market Dynamics | ·      Focus On Increasing The Efficiency Of Several Industrial Equipment |
Oil Coolers Market Highlights:
Frequently Asked Questions (FAQ) :
Oil Coolers Market Size US$ 1,378.56 Mn in 2022
Growth rate of the Oil Coolers Market is 6.24% by 2030
Asia-Pacific region held the largest market share in the Oil Coolers Market
MAHLE (Germany), AKG Group (Austria), Calsonic Kansei Corporation (Japan), PWR Corporate (Australia), NRF (Netherlands), Thermex (Russia), Earls Performance (United States), CBR Performance Products (Australia), Proflow (Australia) and RAAL (Slovenia)
Above 10 kW Capacity led the Oil Coolers Market
10 Row Oil Cooler Type had the largest market share in the Oil Coolers Market
Industrial Application type had the largest market share in the Oil Coolers Market
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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