What is Automotive Turbocharger Market?
Automotive turbocharger is a turbine-driven forced induction device that increases an internal combustion engine’s efficiency and power output by forcing extra compressed air into the combustion chamber. It is made up of two main sections including turbine and compressor. It helps to boost an engine’s horsepower without significantly increasing its weight. It can be used with either gasoline or diesel engines and on more or less any kind of vehicle.The automotive turbocharger market is primarily driven by stringent emission norms across the globe. Rise in demand for vehicles with higher power output, coupled with stringent emission limits, has prompted manufacturers to install automotive turbochargers in their vehicles.
Highlights from Automotive Turbocharger Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Honeywell (United States), Mitsubishi Heavy Industries, Ltd. (Japan), BorgWarner (United States), IHI (Japan), Continental (Germany), Cummins (United States), Bosch Mahle (Germany), ABB (Switzerland), TEL (India) and Delphi Technologies (United Kingdom) |
Automotive Turbocharger is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Turbocharger market throughout the forecasted period.
Honeywell (United States), Mitsubishi Heavy Industries, Ltd. (Japan), BorgWarner (United States), IHI (Japan), Continental (Germany), Cummins (United States), Bosch Mahle (Germany), ABB (Switzerland), TEL (India) and Delphi Technologies (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Rotomaster International (Canada), Precision Turbo & Engine INC (United States), Turbonetics (United States), Turbo International (United States), Kompressorenabu Bannewitz GmbH (Germany), Turbo Dynamic Ltd. (United Kingdom) and Calsonic Kansei (Japan). Automotive Turbocharger Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Agricultural tractors, Passenger Cars, Light Commercial Vehicles, Truck, Bus and Others |
Type | Mechanical Turbocharging and Exhaust Gas Turbocharging |
Technology | VNT/VGT,Wastegate,Electric,Twin-turbo,Free-floating,Double Axle |
Fuel | Diesel,Gasoline,CNG/Alternate fuels |
Material | Cast iron,Aluminum,Others |
Component | Turbine,Compressor,Housing |
On the basis of geography, the market of Automotive Turbocharger has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand for Fuel Efficient Engines
Market Growth Drivers:
High Demand Due To Increased Horsepower, Better Fuel Economy and Higher Efficiency and Increasing Demand for Commercial Vehicles
Challenges:
Slowdown of the World Economy Leads into Decreasing Demand for Vehicles
Restraints:
Turbochargers Get Very Hot and Often Tap into the Engine’s Oil Supply
Opportunities:
Growing Automobile Industry Worldwide and Increasing Consumer Awareness about Vehicle Performance
Key Target Audience
Automotive Turbocharger Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End user
Market Leaders & Development Strategies
On 1st October 2018, Honeywell has announced that it has signed an agreement to acquire privately held, warehouse automation business Transnorm for approximately €425 million from IK Investment Partners.
On 31st August 2018, Mitsubishi Heavy Industries, Ltd. launched new models of small, lightweight, and high-efficiency turbochargers for diesel engines. The MET-MBII axial-flow turbocharger series is developed mainly for two-stroke engines that is smaller and lighter than the existing MET-MB series, with a 16% greater air flow capacity.