Automotive Turbocharger Market .pdf
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Automotive Turbocharger Market in APAC will grow
8% CAGR from 2017 to 2024: Global Market Insights,
The Latest Research Report on “Automotive Turbocharger Market”, Rising product
demand from OEMs to offer light weight and fuel-efficient vehicles coupled with
stringent regulations regarding CO2 emissions will primarily drive the industry over
the forecast timeframe. Industry participants are focusing towards controlling these
emissions and offering enhanced driving experience. This has resulted in high
production of turbochargers, further escalating the revenue generation. However,
rising implementation of electric vehicles will pose a challenge before industry
participants. Automotive Turbocharger Market to surpass USD 24 billion by 2024;
according to a new research report by Global Market Insights, Inc.
VGT turbochargers will grow rapidly, exhibiting more than 8% CAGR from 2017 to
2024. These turbochargers are responsible for precise controlling of NOx and
particulate emissions. Moreover, shifting preference can be credited to the provision
of multiple benefits such as increasing the engine efficiency, reduction in lag time,
and cost effectiveness than the counterparts. Twin turbo will be valued at around
USD 7 billion till 2024 owing to its advantages such as superior acceleration and
Automotive turbocharger market from PCVs are likely to capture highest revenue
share, surpassing 60% by the end of 2024. Rising production of these vehicles
across the globe, especially in developing countries of Asia Pacific will fuel the
industry growth. Rising consumer demand for minimal loss in fuel efficiency and
high-power output will further strengthen the product penetration. Rising international
and local trading activities across the globe will propel the growth of automotive
turbocharger market from HCVs.
Substantial increase in vehicle production has led to increased turbocharger demand
owing to these mandatory norms. This has further resulted in higher frequency of
replacement of traditional engines with turbocharged engines, impacting the industry
positively. Rising trading and industrialization activities, especially in developing
countries has opened numerous opportunities for the industry players. Regular
technological advancements assist in the incorporation of turbochargers into the
engines and enable the small-sized engines to offer higher power relative to their
size. These innovations are likely to induce immense potential to the automotive
turbocharger market size from 2017 to 2024.
Engine downsizing is a key trend that has significantly impacted the automotive
turbocharger market. It enables easy replacement of conventional engines with the
engines with turbocharger, without impacting the vehicle’s fuel efficiency and power.
Moreover, an engine with turbocharger increases the efficiency by 20%. Electric
turbocharger is another innovation, featured with an electric motor and an exhaust
gas driven turbine and delivers fast response and high boost pressure. These
advancements are likely to offer stable growth prospects for the industry participants.
U.S. Automotive Turbocharger Market, By System, 2016 & 2024, (Thousand
Browse key industry insights spread across 300 pages with 647 market data tables &
10 figures & charts from the report, “Automotive Turbocharger Market Size By
Vehicle (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin Turbo),
By Fuel (Gasoline, Diesel), By Distribution Channel (OEM, Aftermarket)
Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
France, Italy, Spain, Russia, Poland, Netherlands, China, Japan, India, South
Korea, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South
Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast,
2017 – 2024” in detail along with the table of contents:
Diesel will capture maximum volume share of over 60% by the end of 2024 owing to
high production of vehicles with diesel across the globe. These vehicles have low
efficiency and are responsible for more CO2 emissions. This has resulted in high
demand of turbochargers, accelerating the industry demand. Automotive
turbocharger market from gasoline will grow rapidly, witnessing more than 8% CAGR
over the next eight years owing to shifting preference towards this fuel. It can be
credited to the benefit of enhanced performance at high temperatures.
OEMs accounts for 90% automotive turbocharger market share in 2016. Increasing
penetration of the system among the auto manufacturers offering superior efficiency
along with offering reduced vehicle weight will boost the business demand.
Increasing global vehicle production along with stringent engine emission norms will
contribute significantly towards the volume share. Aftermarket segment will
experience robust growth during the forecast period. This growth can be credited to
increasing product popularity and rising need for replacement to suffice the emission
norms. Presence of industry participants focusing on capturing aftermarket share will
further fuel the business growth.
Europe driven by Germany, UK, France and Italy holds the major volume share and
is estimated to continue its dominance over the study timeframe. This can be
attributed to strict emission norms together with presence of major manufacturers.
Asia Pacific automotive turbocharger market will pose over 8% CAGR between 2017
and 2024 owing to increasing demand from nations such as Japan, China, South
Korea, and India.
Prominent automotive turbocharger market participants are Weifang Fuyuan,
Federal-Mogul, Linamar, IHI Corporation, Honeywell, Mitsubishi Heavy Industries,
Montupet, Cummins Turbo Technologies, and BorgWarner. Other notable players
are Magnum Performance Turbos, Bosch Mahle Turbo Systems, TEL, Turbo
Engineering, Banks Power and Precision Turbo and Engine. Industry players mainly
focus on developing the new products to gain a competitive edge. For instance, in
April 2017, Honeywell launched a variable nozzle turbine (VNT) turbocharger for
expansion of its product portfolio.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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