Automotive Turbochargers market Overview
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.
Market Size and Forecast
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.
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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.
Our in-depth analysis segmented the automotive turbochargers market in the following segments:
- Variable geometry turbocharger
- Twin turbo
- Passenger cars
- Light commercial vehicle
- Heavy commercial vehicle
- Sports cars
- Off-Highway vehicle
Global automotive turbochargers Market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
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.
Top Featured Companies Dominating the Market
The major key players for automotive turbochargers are as follows:
- Honeywell international
- Mitsubishi Heavy Industries
- IHI Corporation
- Continental AG
- Eaton Corporation PLC
- Bosch Mahle Turbo Systems
- Turbo Energy PVT LTD
Scope and Context
Overview of the Parent Market
The Global Automotive turbochargers Market is segmented as follows:
- By Technology Market Size & Y-O-Y Growth Analysis
- By Fuel Market Size & Y-O-Y Growth Analysis
- By Vehicle Market Size & Y-O-Y Growth Analysis
- By End-User Market Size & Y-O-Y Growth Analysis
- By Region Market Size & Y-O-Y Growth Analysis
Supply & Demand Risk
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