The Global Automotive Turbocharger market accounted for US$ 15,364 Mn in 2022 and is expected to reach US$ 37,229 Mn by 2030 with a considerable CAGR of 10.7% during the forecast timeframe of 2022 to 2030.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Automotive Turbocharger market. Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Automotive Turbocharger market. In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. Turbochargers are an important part of today’s cars because they make the engine work better. During combustion, this system uses the engine’s exhaust gases to move a turbine. This turbine turns the compressor wheel with the help of a shaft. The compressor wheel pulls in air from the outside, squeezes it down, and sends the compressed air to the engine. This compressed air burns fuel more efficiently and saves fuel to get more power.Most car turbochargers are one of three types: variable turbochargers, wastegate turbochargers, and electric turbochargers. Engine downsizing has become the most profitable part of the automotive industry. Small engines are becoming more popular in cars because they help control fuel emissions better. Turbochargers are helping the auto industry meet government standards and rules about emissions like carbon dioxide and other harmful gases from vehicles. Turbochargers are thought to be more economical and better for the environment. Major automakers are spending a lot of money on research to improve the design and workings of automotive turbochargers. They are also using new technologies to improve the overall performance of engines and cut down on fuel use. Also, more cars are being sold and made, which is driving up demand in the automotive turbocharger market.
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.It provides a detailed description of the drivers and opportunities in the Automotive Turbocharger market, which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Automotive Turbocharger market, are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries.Based on the type of technology used, the turbocharger market is divided into variable geometry turbochargers, wastegate turbochargers, and electric turbochargers. The wastegate turbochargers segment is expected to lead this market. These turbochargers make the most torque and engine power and are more efficient than variable geometry turbochargers. Based on the fuel type, the market is divided into gasoline and diesel. The diesel fuel segment has the biggest share of the automotive turbocharger market, and it is expected to keep its lead during the forecast period. Diesel engines are easier to customize to get the best performance. By vehicle type, the market is split into three parts: passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The passenger car segment has the largest share of the global turbocharger market. This is because more and more people want cars with better performance and lower fuel consumption.
Based on types, the Automotive Turbocharger market is segmented into:
- Mono Turbo Charger
- Twin Turbo Charger
- Other
By Material:
- Cast Iron Automotive Turbochargers
- Aluminum Automotive Turbochargers
- Others
Based on application, the Automotive Turbocharger market is segmented into:
- Passenger Cars
- Commercial Vehicles
- Other
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Recent Development
- In June 2021, MAN Energy Solutions and Rolls-Royce signed a strategic partnership agreement that will let MAN’s PBST brand sell state-of-the-art mtu turbochargers. With this partnership, the companies combine their strengths, like Rolls-latest Royce’s high-efficiency mtu turbocharger technology for high-speed diesel and gas engines and PBST’s global sales structure for turbochargers.
- In January 2021, ABB Turbocharging, Hyundai Heavy Industry’s Engine & Machinery Division (HHI-EMD), and Hyundai Global Service (HGS) created a total service solution for Hyundai and ABB customers. The solution gives the ship as a whole the best possible performance in terms of efficiency and pollution. Under the agreement, HGS will be able to use ABB’s global network of turbocharging service stations
- In April 2021, BorgWarner Inc. announced that it would be adding three new BorgWarner turbochargers for passenger cars. The newly released turbochargers are for Opel, BMW, and Peugeot
- In November 2020, Continental expanded its line of turbochargers for the aftermarket. The company sells turbochargers for many models of high-end brands, such as MINI, BMW, and Volkswagen Group.
Regional Analysis
Asia-Pacific has the largest share of the automotive turbocharger market because there are so many passenger cars in this area. Some of the fastest-growing economies, like India and China, are the top countries with the most car sales and production, which is helping the turbocharger market grow in this region. Rapid urbanization, the spread of industrialization, improvements in infrastructure, and a rise in disposable income are the main things that are driving the growth of the market. Also, strict government rules and emission standards are hurting the growth of turbochargers in this region. The recent implementation of BS-VI in India is also expected to boost the market for an automotive turbocharger.Because car turbochargers are so popular in North America, the market is expected to grow at an exponential rate during the forecast period. In this region, the market for automotive turbochargers is expected to grow because of how quickly new technology is being used in turbochargers. Also, the Environmental Protection Agency (EPA) in the U.S. has put in place strict rules and standards to reduce fuel emissions. The government has forced automakers to make engines that are cleaner and use less gas.
Regional Automotive Turbocharger market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in Automotive Turbocharger market include:
- Automotive Turbocharger market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
Key market forces.
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Key Market Participants in the Automotive Turbocharger market:
Fengcheng Xindongli Turbocharger Co. Ltd (China), Precision Turbo and Engine (US), Bullseye Power LLC (US), Bosch Mahle (Germany), Cummins Inc. (the US), Continental AG (Germany), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd (Japan), BorgWarner Inc. (US), Honeywell International Inc. (US), And Others.
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