Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
A turbocharger is a device used to enhance the power yield of an engine. It is a type of forced induction system that compresses the air flowing into the engine which helps to increase more air flow into a cylinder. This results in more fuel addition, which in turn further increases the power output of the engine per stroke. A turbocharger delivers many advantages to vehicles, such as increased power output, high power to weight ratio, efficiency, and reduction in engine weight. With the advent in technology, and with rising demand for powerful vehicles, automotive turbochargers are anticipated to observe robust growth in the next few years.
The global automotive turbochargers market is anticipated to grow at a CAGR of 10.2% over the forecast period. The growth of the turbochargers market is driven by the increased stringency in the emission norms taken by government. Initiatives taken by government of various countries have helped to promote the use of low emission and high efficiency vehicles that in turn has fostered the growth of the automotive turbochargers market.
The most prominent regional markets in automotive turbochargers include Europe and North America. The former is expected to dominate the automotive turbochargers market over the forecast period. The key factors aiding the growth include stringent regulatory polices associated with auto emission.
North America is the second largest region due to strict carbon regulation by National Highway Traffic Safety Administration (NHTSA). These regulations force OEMs to look for innovations to achieve engine downsizing.
In Asia-Pacific, China is the most lucrative market for turbochargers as it owns the world’s largest automotive industry and turbo chargers are majorly used in automobiles. Increased vehicle production and rising installation rate of turbochargers is anticipated to drive the China market. CLICK TO DOWNLOAD SAMPLE REPORT
Our in-depth analysis segmented the automotive turbochargers market in the following segments:
Global automotive turbochargers Market is further classified on the basis of region as follows:
Rising adoption of engine downsizing and increasing emission and fuel efficiency is expected to spur the growth of automotive turbochargers market.
The rise in global population and rapid industrialization will lead to an exponential increase in demand for energy, especially from the developing countries and emerging economies. Further, stringent regulations taken by government towards fuel emission and rising demand for fuel efficient vehicles are expected to grow automotive turbocharger market. Multi-stage boosting for diesel engines is another key innovation to help auto makers achieve greater engine performance, without breaching fuel economy regulations.
However, automotive turbochargers are expensive and prone to overheating, which are considered as the major factor for hindering the global market. Moreover, some turbocharger applications, especially with larger turbo, reaching the boost threshold can provide an almost instantaneous surge in power, which could compromise tyre traction or cause some instability of the car.
The major key players for automotive turbochargers are as follows:
Overview of the Parent Market
Analyst View
The Global Automotive turbochargers Market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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