MarketResearch.biz announces publication of its most recently generated research report titled, “Global Automotive Turbocharger Market by Engine (Diesel Engine, Gasoline Engine), By Vehicle (Light Vehicle, Heavy Vehicle), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), and Region – Global Forecast between 2021 and 2030.”, which offers a holistic view of the global automotive turbocharger market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 119,130 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Automotive turbochargers have enabled Internal Combustion (IC) engines to reduce the size of the engine along with remaining equally powered and function more efficiently. The adoption of a turbocharger in diesel and gasoline engines is increasing owing to its ability to improve fuel efficiency, increase power output, driveability, etc. A turbocharger comprises a compressor and turbine coupled on a single standard shaft. The turbine scavenges energy from hot exhaust gas flow and delivers it to the compressor, which compresses and feeds the ambient air to the engine.
Global Automotive Turbocharger Market: Market Dynamics
creasing production and sales of light and heavy commercial vehicles, coupled with stringent regulations and statutes pertaining to emission and fuel efficiency, are factors increasing demand for the automotive turbocharger. For instance, according to the data released by China’s Ministry of Ecology and Environment, vehicles affected by the China VI standard account for over 90% of particulate matter emissions and nearly 70% of NOX emissions from China’s on-road transportation fleet.
Increasing penetration of gasoline turbochargers, coupled with growing demand for gasoline-powered vehicles in developed and developing countries, are factors influencing demand for the global automotive turbocharger market. Additionally, increasing focus and investment by car manufacturers on the expansion of existing manufacturing plants and facilities is another factor expected to drive the growth of automotive turbochargers to a significant extent.
An outbreak of the COVID-19 pandemic in early 2020 has brought a negative impact on almost every industry. The subsequent global lockdown has severely impacted economies across the world. On the other hand, the government of several countries’ trade restrictions also affected the supply of raw materials to automobile and spare parts industries. This had led to price fluctuations and sudden shortages of raw materials, as well as end-products.
Technology advancements such as an electrically assisted turbocharger with an integrated electric motor generate electrical energy from the wasted exhaust gas flow or add torque to the turbine shaft for enhanced performance and improve fuel efficiency. This is expected to create a new opportunity for manufacturers operating in the global automotive turbocharger market.
Global Automotive Turbocharger Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global automotive turbocharger market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global automotive turbocharger market is estimated to expand at a moderate CAGR of 9.1% during the forecast period.
Global Automotive Turbocharger Market: Segmental Snapshot
The market report has been segmented based on engine, vehicle, sales channel, and region. The engine segment include diesel engine and gasoline engine. The vehicle segment include light vehicle and heavy vehicle. The sales channel segment include Original Equipment Manufacturer (OEM) and aftermarket. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By engine: The gasoline engine segment is expected to register a CAGR of over 9.9%, thereby accounting for the highest revenue share among the engine segments.
By vehicle: The light vehicle segment is expected to register a CAGR of over 9.5% over the forecast period, thereby accounting for the highest revenue share among the vehicle segments.
By sales channel: The OEM segment is expected to register a CAGR of over 9.3% over the forecast period, thereby accounting for the highest revenue share among the sales channel segments.
By region: The market in APAC accounted for the highest revenue share in the global automotive turbocharger market in 2020 and is estimated to register a CAGR of over 9.6% between 2020 and 2030.
Global Automotive Turbocharger Market: Competitive Analysis
The research report on the global automotive turbocharger market includes profiles of major companies such as BorgWarner Inc., Garrett Motion, Inc., Cummins Inc., Mitsubishi Heavy Industries, Ltd., IHI Corporation, Continental Aktiengesellschaft, Bosch Mahle Turbo Systems GmbH & Co., Rotomaster International, Precision Turbo & Engine Rebuilders, Inc., Turbo Energy Private Limited, Easyland Automotive Corporation, Refone Auto Power Co.,Ltd., Hunan TYEN Machinery Co., Ltd., Tonglint Industries Co., Ltd., Ningbo GP Turbocharger Co. Ltd., among others.
The Global Automotive Turbocharger Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2021–2030 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Automotive Turbocharger market for 2020–2030.
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