Global Automotive Turbocharger Market Size By Type (Diesel, Gasoline), By Vehicle Type (Passenger Car, Light Commercial Vehicles), By Geographic Scope And Forecast

Automotive Turbocharger Market Size And Forecast

Automotive Turbocharger Market size was valued at USD 14.75 Billion in 2022 and is projected to reach USD 37.36 Billion by 2030, growing at a CAGR of 10.88% from 2023 to 2030.

The automotive turbocharger has superior specifications like its ability to elevate the fuel capacity of an engine as well as significantly increase the overall power production of the engine. These factors are driving the overall Automotive Turbocharger Market. The Global Automotive Turbocharger Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Turbocharger Market Definition

A turbocharger is an induction device that is driven by turbines. A turbocharger increases an internal combustion engine’s power output as well as efficiency by pushing the compressed air into the combustion chamber. The turbocharger increases the power output of an engine during severe operating conditions.

Turbochargers are a type of forced induction system that allows for more fuel to be added by compressing the air. A turbocharger in comparison to a non-charged engine produces much more power, which has the potential to better the power-to-weight ratio of an engine. Due to rising advancements, the Global Automotive Turbocharger Market is growing.

Global Automotive Turbocharger Market Overview

Automobile manufacturers are under pressure from fuel economy and environmental emission requirements in many industrialized and emerging nations to either lighten or shrink the engine of the vehicle in order to meet the targets. In order to comply with strict international fuel economy and emission requirements as well as consumer demand for better-performing automobiles, the auto industry is shrinking engines. Compared to bigger, naturally aspirated engines, turbochargers enable smaller engines to increase fuel efficiency by 20% to 40%.

Due to the need for new vehicles to be lighter and have smaller engines in order to comply with CAFÉ rules, North America is another region where the market for turbochargers is expanding. The market for European turbochargers is anticipated to develop moderately during the next five years. This area has the largest fleet of turbodiesel vehicles and the highest turbocharger density worldwide. The automobile turbocharger offers exceptional features including the potential to raise an engine’s fuel capacity as well as greatly boost the engine’s total power output.

The market for automotive turbochargers as a whole is being driven by these considerations. Additionally, using a light foot to accelerate and driving with low engine loads are made possible by the introduction of turbochargers in automobile engines. It also plays a significant role in reducing particulate matter emissions, which results in the cleaner exhaust. Less gasoline is consumed and there is little environmental impact as a result of the aforementioned attributes. Thus, turbochargers circumvent the strict CO2 emission regulations, and this is the primary driver of the desire for low-emission and fuel-efficient cars.

There are some limitations and difficulties that will prevent the total expansion of the Automotive Turbocharger Market. The broad market is expected to be hampered by factors including the general public’s lack of knowledge about automobile engines and the price range of turbochargers. Furthermore, the existing conventional turbocharger market’s expansion is anticipated to be constrained by the quick adoption of hybrid vehicles, which is taking place despite rigorous rules.

Global Automotive Turbocharger Market Segmentation Analysis

The Global Automotive Turbocharger Market is segmented based on Type, Vehicle Type, and Geography.

Automotive Turbocharger Market, By Type

• Diesel
• Gasoline

Based on Type, The market is bifurcated into Diesel & Gasoline. Most of the commercial vehicles are diesel-powered throughout the globe, and almost all are equipped with turbochargers, which saturates the diesel turbo market. On the other hand, the demand for gasoline turbochargers is growing at a rapid pace. TGDI’s adoption in gasoline vehicles has expanded the market for gasoline turbochargers. Furthermore, the stringent laws regarding CO2 emissions are further driving the market for gasoline turbochargers.

Automotive Turbocharger Market, By Vehicle Type

• Passenger Car
• Light Commercial vehicles
• Heavy Commercial Vehicles

Based on Vehicle Type, The market is bifurcated into Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles. Throughout the globe, passenger vehicle-type turbochargers dominated the overall market with almost half of the market share, owing to the large selling of passenger vehicles.

Automotive Turbocharger Market, By Geography

• North America
• Europe
• The Asia Pacific
• Rest of the world

Based on Regional Analysis, The Global Automotive Turbocharger Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Europe held the largest revenue share of around 50% in 2019. The major European countries such as Germany, France, Italy, and Spain possess the top automotive brands in the world. Thus, the region dominates the overall market and is anticipated to witness high growth during the forecast period.

Key Players

The “Global Automotive Turbocharger Market” study report will provide valuable insight with an emphasis on the global market.  The major players in the market are Banks Power, BorgWarner, BMTS Technology, Cimos D.D., Cummins, Inc., Honeywell International, Inc., IHI Corporation, Linamar Corporation, and Mitsubishi Heavy Industries.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In April 2022, Daimler Trucks announced that the third generation of its OM 471 heavy-duty engine is available to order and available from October 2022. With the third generation of the OM 471, Mercedes-Benz Trucks is introducing two new turbochargers developed and manufactured in-house.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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