MarketResearch.biz has recently published its market research report titled, “Global Automotive Turbocharger Market by Engine, by Vehicle, by Sales Channel, and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Forecast to 2029”. The report offers a deep-dive analysis of the global automotive turbocharger market. It is through systematic and exhaustive research efforts, both primary and secondary, as well as ideal segmentation that the research results have been gleaned over the study period. The report also presents the first five-year cumulative revenue (2020–2024), which is projected to be valued at around US$ 100 Billion, and this is expected to increase quite significantly over the latter part of the five-year forecast period.
An automotive turbocharger or turbo, employs a gas turbine that is operated by exhaust gases in order to drive centrifugal automotive blower in the vehicle. Further, turbocharged-engine gains enhanced power capacity and improvises vehicle-fuel economy. In other words, turbocharger helps to boost an engine’s horsepower without increasing its weight. Turbocharger engines generates more power as compared to other similar engines which were not turbocharged, thereby helping to improve power-to-weight ratio of an engine. Turbocharger has various features which help to increase its usage in automotive industry such as it increases volumetric efficiency of an engine, reduces consumption of fuel, and helps in proper working of an engine in different weather conditions.
Browse the full “Global Automotive Turbocharger Market By Engine (Diesel Engine, Gasoline Engine), By Vehicle (Light Vehicle, Heavy Vehicle), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket, Land Based, Naval), and Region – Global Forecast to 2029 ‘ report at https://marketresearch.biz/report/automotive-turbocharger-market/
Global Automotive Turbocharger Market: Market Dynamics
Major factor driving growth of the target market to a significant extent include stringent fuel emission regulations by the government of various countries and increasing concerns about fuel efficiency of the vehicle, especially in developing economies. In addition, increasing popularity of car-racing, particularly among the younger generation, is another factor expected to fuel growth of the market. High dependency of transportation industry on diesel engines, mainly for heavy-duty commercial vehicles, is expected to drive growth of the target market in the years to come. Furthermore, increasing demand for highly-efficient engines in terms of output and power is another factor expected to support growth of the global market.
However, high cost of automotive turbochargers is a major factor that could restrain growth of the global automotive turbocharger market. In addition, increasing adoption of electric vehicles is another factor expected to hamper growth of the market in the next 10 years. Furthermore, usage of high-grade materials is another factor limiting growth of the target market.
Ongoing trend observed is increasing adoption of two-stage turbocharging which is also called – twin turbo technology. Development of innovative and cost-effective solutions for boosting efficiency and performance of the engines is projected to create revenue opportunities for major players in the target market over the 10-year forecast period.
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 expected to register a CAGR of 9.2% over the forecast period.
Global Automotive Turbocharger Market: Segmental Snapshot
The market report has been segmented on the basis of engine, vehicle, sales channel, and region. The technology segment includes diesel engine, and gasoline engine. The vehicle segment includes light vehicle, and heavy vehicle. The sales channel segment includes original equipment manufacturer (OEM), and aftermarket. The regions include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Engine: The diesel engine segment is expected to account for the highest revenue share as compared to other segments. The gasoline engine segment is projected to register highest CAGR of over 9.6%
By Vehicle: The light vehicle type segment is expected to record highest revenue share in the global market as compared to other segments, and is projected to register highest CAGR of over 9.2%
By Sales Channel: The original equipment manufacturer (OEM) segment is projected to record the highest revenue contribution, and is projected to register highest CAGR of over 9%
By Region: The market in the Asia Pacific is expected to record largest revenue share in the global automotive turbocharger market, and is projected to register highest CAGR of over 9.3%
Global Automotive Turbocharger Market: Competitive Analysis
The research report on the global automotive turbocharger market includes profiles of some of the 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. (BMTS), Rotomaster International, Precision Turbo & Engine Rebuilders, Inc., Turbo Energy Private Limited (TEL), Easyland Automotive Corporation (Jrone), Refone Auto Power Co.,Ltd., Hunan Tyen Machinery Co., Ltd., Tonglint Industries Co., Ltd., and Ningbo GP Turbocharger Co. Ltd.
“Global Automotive Turbocharger Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2029” 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 2019–2029.
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