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Monday, May 30, 2022

Global Automotive Turbocharger Market to be Driven by the Rising Deployment of Automotive Turbochargers to Enhance Fuel Efficiency in the Forecast Period of 2022-2027


The new report by Expert Market Research titled, ‘Global Automotive Turbocharger Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive turbocharger market, assessing the market based on its segments like fuel types, vehicle types, technologies, components, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): Approximately USD 11 billion
  • Forecast CAGR (2022-2027): 10%
  • Forecast Market Size (2027): About USD 20 billion

The rising global concerns regarding environmental degradation as a result of toxins released from vehicular fuel combustion have been driving the market growth of automotive turbochargers. Turbochargers are considered as an effective and efficient option to keep internal combustion (IC) engines cleaner, reduce the displacement volume of the cylinder, and reduce the volume of fuel required, thereby reducing the exhaust emissions of the vehicle. Moreover, stringent regulations imposed by governing agencies have invigorated the vehicle manufacturers to incorporate automotive turbochargers, which is another factor significantly contributing towards the growth of the market. As the demand for passenger cars grows, so does the use of automotive turbochargers, which is fuelling market expansion. The market is also expected to rise due to the development of fuel cell car turbochargers to improve power output efficiency and deliver clean air to fuel cell batteries.

Industry Definition and Segmentation

An automotive turbocharger is a turbine-driven forced induction device that increases the internal combustion engine efficiency.

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On the basis of fuel type, the market can be divided into:

  • Diesel
  • Gasoline
  • Others

Based on vehicle type, the market can be segmented into:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

The market, based on technology, can be categorised into:

  • Variable Geometry Turbocharger (VGT)
  • Wastegate Turbocharger
  • Electric Turbocharger
  • Twin Turbocharger
  • Two Stage Series Turbocharger
  • Two Stage Parallel Turbocharger
  • Twin Scroll Turbocharger
  • Free-Floating Turbocharger
  • Double Axle Turbocharger

Based on component, the market can be classified into:

  • Housing
  • Compressor
  • Turbine

The regional markets for the product include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth in the global market for automotive turbochargers can be associated with the emergence of electronic turbochargers that offer more power and better fuel efficiency by eliminating turbo lag and can produce torque at low engine speed. In contrast to the conventional turbocharger, electric turbochargers have fewer technical challenges, thereby making it user-friendly, and also results in less maintenance and cooling oil requirements, thereby augmenting the overall growth of the market. Moreover, the ability of turbochargers to improve fuel efficiency amidst the soaring fuel prices in various counties is further enhancing the market growth of automotive turbochargers. Considerable success in both types of fuel engines is driving the demand for turbocharger-based engine vehicles.

Key Market Players

The major players in the market are Continental AG, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., BorgWarner Inc., Cummins Inc., and BMTS Technology GmbH & Co. KG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Contact Person:- Shira Ellis, Business Consultant
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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