Strong Growth in Automotive Turbocharger Market

  • Asia Oceania is projected to be the largest and fastest growing automotive turbocharger market.
  • VGT/VNT technology is projected to be the largest market for automotive turbocharger in the near future.
  • A hybrid vehicle is expected to be the largest market for automotive turbocharger over the forecast period.

The Automotive Turbocharger Market is expected to grow at a CAGR of 9.39% during the forecast period, in terms of value. The market in 2018 is estimated to be $16.87 billion and is projected to reach $31.61 billion by 2025.

The US and China are the global leaders in automotive manufacturing. The automotive sectors of these countries are dominated by gasoline vehicles. The US and China are thus expected to be the largest markets for gasoline turbocharger. Gasoline is the most used fuel in passenger cars and some light-duty vehicles. The usage of gasoline in heavy commercial vehicles is virtually zero. However, the usage of turbochargers in petrol vehicles is a considerable new trend and is fueled by the trends toward increasing fuel economy and reducing emissions.

The installation rate of turbochargers in passenger cars is the highest in Europe and North America as strict emission regulations are in place in these regions, and OEMs will have to use turbochargers in order to comply with these regulations. In Asian countries like China and India, lack of such regulations results in OEMs not using turbochargers as often as they do in Europe and North America. Tier-1 and Tier 2 can enter in the developing markets such as China and India, which have the potential turbocharger market.

Automotive turbocharger market consists of manufacturers such as Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).

Request for Sample Pages

A hybrid vehicle is expected to be the largest market for automotive turbocharger over the forecast period. The global eco-friendly the vehicle market is booming due to the increasing concern over global warming and air pollution and government support to reduce air pollution. Growth in the application of turbocharger in HEV & PHEV will be widely seen in North America and Europe due to their willingness to adopt state-of-the-art technology and strict emissions norms.

VGT/VNT technology is expected to dominate the automotive turbocharger market. This technology facilitates the change of the effective aspect ratio, also called the A/R ratio, based on any change in engine speed. It helps to overcome the limitation of fixed geometry turbocharger (FGT)/wastegate turbocharger in which the effective area between vanes remains the same throughout its working. VGT turbocharger is widely used in Europe and North America.

Speak to Analyst

Turbochargers find an indispensable application in off-highway vehicles, such as construction vehicles, agricultural tractors, and locomotive, given the enhancement in power and performance, which is expected from these vehicles. Agricultural tractor application is expected to have the largest market, in terms of volume, over the forecast period.

The construction of a turbocharger involves the use of various materials such as cast iron, stainless steel, and aluminum. The increase in demand for overall turbocharger market coupled with the requirement for lightweight turbochargers will drive the global market for lightweight materials like aluminum and titanium for turbocharger application. Cast iron is estimated to have the largest market over the forecast period due to its benefits such as higher resistance to heat and its capacity to withstand high levels of pressure.

Only $1/click

Submit Your Ad Here

Aaron Smith

I work at Markets And Markets as a Sr. Research Analyst. MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.


http://www.marketsandmarkets.com

Leave a Reply