Expert Market Research‘s new report 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 such as Types fuel, vehicle types, technologies, components and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2021): around 11 billion USD
- Forecast CAGR (2022-2027): 10%
- Forecast market size (2027): around 20 billion USD
Growing global concerns over environmental degradation resulting from toxins released from vehicle fuel combustion have driven the growth of the automotive turbocharger market. Turbochargers are considered an effective and efficient option for keeping internal combustion (IC) engines cleaner, reducing cylinder displacement volume, and reducing the volume of fuel required, thereby reducing vehicle exhaust emissions. Additionally, stringent regulations imposed by government agencies have prompted automakers to incorporate automotive turbochargers, which is another factor contributing significantly to the growth of the market. As the demand for passenger cars increases, the use of automotive turbochargers is also increasing, which is fueling the expansion of the market. The market is also expected to increase owing to the development of fuel cell car turbochargers to improve power output efficiency and supply clean air to fuel cell batteries.
Industry definition and segmentation
An automotive turbocharger is a turbine driven forced induction device that increases the efficiency of the internal combustion engine.
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On the basis of fuel type, the market can be split into:
Based on vehicle type, the market can be segmented into:
- Particular Cars
- Light commercial vehicles
- Heavy duty vehicles
The market, based on technology, can be categorized into:
- Variable Geometry Turbocharger (VGT)
- wastegate turbocharger
- Electric turbocharger
- Twin turbocharger
- Two-stage turbocharger
- Two-stage parallel turbocharger
- Twin-scroll turbocharger
- Floating turbocharger
- Twin axle turbocharger
On the basis of components, the market can be categorized into:
Regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth of the global automotive turbocharger market can be associated with the emergence of electronic turbochargers that deliver more power and better fuel efficiency by eliminating turbo lag and can produce torque at low rpm. Unlike the conventional turbocharger, electric turbochargers present fewer technical challenges, which makes them user-friendly, and also result in less maintenance and cooling oil requirements, thus increasing the overall market growth. Additionally, the ability of turbochargers to improve fuel efficiency amid soaring fuel prices in various countries is further bolstering the growth of the automotive turbocharger market. The considerable success of both types of fuel engines is driving the demand for turbocharged motor vehicles.
Main market players
Major market players include Continental AG, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., BorgWarner Inc., Cummins Inc., and BMTS Technology GmbH & Co. KG, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.