The Global Automotive Turbocharger Market was valued at $ 13.2 billion in 2019 and is anticipated to grow at a CAGR of 8.1% from 2020 to 2027.
A Turbocharger is one of the essential part of the internal combustion (IC) engine; it enhances the engine output by pumping more inlet air mixture in the combustion chamber. An automotive turbocharger utilizes the energy of exhaust gases from the combustion chamber via the turbine of the engine to create a better air to fuel ratio even in harsh and high-temperature conditions. It amplifies the efficiency of the engine by supplying a sufficient amount of compressed air for the combustion of additional fuel to the engine for large power generation. It is very useful when the vehicle’s atmospheric pressure fails to generate sufficient fuel into the combustion engine. At higher speed ranges, the turbocharger works at its best without a need for external power source by utilizing the flow of exhaust gases discharged from the engine. This technology is becoming popular in automobiles and aerospace industries. With the increased focus on cutting down the CO2 emissions and ensuring the emission standards, the turbocharged engines are becoming popular. The market of the turbocharger is expected to grow in the coming years globally to ensure optimum engine performance, enhanced fuel efficiency, and for keeping fossil fuel engines cleaner. Also, the use of a diesel engine is driving the turbocharger market growth.
The major factors that have impacted the growth of the Automotive Turbocharger market are increasing demand for Fuel-Efficiency coupled with the enhanced Engine performance which can be improved by turbochargers and engine downsizing to lower down the overall vehicle weight has increased the demand for the automotive turbocharger, among others.
Increasing Demand for Fuel-Efficiency Coupled with the Enhanced Engine Performance:
The oil resources are vanishing resulting in the limited availability of fuel and thus increased fuel price. Hence vehicle manufacturers are manufacturing fuel-efficient engines to fulfill customer requirements and deliver optimal engine performance with fuel efficiency. Automatic turbo engines make use of exhaust gases to improve the engine performance with the use of any external power source for operation. They are compact in size and provide fuel efficiency as per the Corporate Average Fuel Economy norm. Even at higher engine speed, turbocharger works at its best. The global turbocharger market is expected to grow with an increase in the installation of turbochargers in gasoline and diesel combustion engines. The automatic turbocharger ensures improved engine performance and increased fuel efficiency which in turn is expected to fuel the turbocharger market growth.
Engine Downsizing to lower down the Overall Weight of the Vehicle:
Presently, with the increased production of automobiles, globally manufacturers are focussing on developing vehicles that can reduce environmental emissions and make efficient use of available resources. Thus, manufactures are using fewer raw materials, to ensure fewer amounts of waste production and increased efficiency at the same time resulting in engine downsizing. The automatic turbochargers increase the power output of the engines by pumping exhaust gases in the combustion engine chamber. They are compact in size and are made up of lightweight alloys thus aiding to reduce the weight of the vehicle. The automatic turbocharger market is expected to grow with the rising popularity of engine downsizing which ultimately helps reduce the overall weight of the vehicle.
Key Insight in the report:
The Global Automotive Turbocharger market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. Automotive Turbocharger Market is analyzed across below-mentioned different segments:
|Technology||Fuel Type||Vehicle Type||Sales Channel|
|VGT||Diesel||Passenger Cars||Original Equipment Manufacturer|
On the basis of technology, the VGT segment is expected to dominate the market due to the increased installation in diesel commercial vehicles and passenger cars. The flexibility offered by VGT as it can be installed in all types of engines is further expected to fuel the market growth. Based on fuel type segment the gasoline engine is expected to dominate the market attributed to the growing adoption of the gasoline engines in vehicles. In the vehicle type segment passenger cars are expected to witness high growth owing to the government regulations for controlling the carbon dioxide emission from the automobiles and increased production of the passenger car. In the Sales Channel segment, the original equipment manufacturer is anticipated to have a higher market share owing to the presence of established turbocharger manufacturers in the market.
Automotive Turbocharger Market is also analyzed across below-mentioned regions/countries
The North America automotive turbochargers market is expected to witness significant growth due to increasing demand for engine downsizing with the rising demand for gasoline engines from light trucks and passenger cars. The Asia-Pacific region is estimated to show lucrative growth in the automotive turbocharger market owing to the increasing awareness of the environmental pollution caused by emission from the vehicles. Moreover, the increasing adoption of electrification and gasoline turbocharged engines is expected to boost automotive turbocharger growth.
Some of the key players in of Automotive Turbocharger Market include:
- BorgWarner Inc.
- Continental AG
- Cummins Inc.
- EATON Corporation
- Honeywell International Corporation
- IHI Corporation
- Mitsubishi Heavy Industries
- Precision Turbo & Engine
- Rotomaster International
- Turbo Dynamics Ltd.
- In October 2018, Honeywell launched The Garrett G Series turbochargers aftermarket performance turbochargers capable of supporting up to 660 horsepower. The product will offer added performance in a smaller package with additional installation flexibility.
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Automotive Turbocharger market historical market size for year 2019, and forecast from 2020 to 2027
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.