Turbocharger Market Analysis
A robust 7% CAGR for the worldwide turbocharger
industry. By raising the density of the gas intake, a
turbocharger can increase the volumetric efficiency of an internal combustion
engine. With the use of a turbocharger, the internal combustion engine's output
may be raised without growing its capacity. This centrifugal blower increases
the power of the IC engine by producing air at a high pressure.
The expansion of the worldwide turbocharger market is being aided by
many factors. According to the MRFR research, these reasons include the growing
demand for electric vehicles, rising fuel prices, the trend toward greener
vehicles, the requirement for gasoline and vehicle engines that are
fuel-efficient, as well as the increased production and manufacture of both
lightweight and heavy vehicles.
On the flip side, the need to comply with emission regulations and high
prices may hamper market growth over the forecast period.
Turbocharger
COVID-19 Analysis
The COVID-19 outbreak had a twin effect on the turbocharger market. On
the one hand, supply chain disruptions, closure of manufacturing facilities,
and delay in car production, especially commercial cars equipped with turbochargers,
had a negative impact on the market growth. While on the contrary, the use of
turbo-boosting laptops during the work from home trends to avail uninterrupted
power service at home are having a positive impact on the market growth.
Besides, the resumption of the overall manufacturing sector due to the gradual
lifting of lockdowns is also adding market growth.
Turbocharger
Market Key Players
- Continenetal
AG (Germany)
- Mitsubishi
Heavy Industries (Japan)
- Rotomaster
International (Canada)
- Borgwarner
Inc (US)
- Precision
& Turbo (US)
- Bosch
Mahle Turbo Systems GmbH (Germany)
- Honeywell
International Inc (US)
- Eaton
Corporation (Ireland)
- Cummins
Inc (US)
- And
others
Turbocharger
Market Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global
turbocharger market based on application, material, vehicle type, sales
channel, fuel type, and technology.
·
By technology, the global turbocharger market is
segmented into electric turbocharger, wastegate, VGT/VNT, and others. Of these,
the electric turbocharger will lead the market over the forecast period.
·
By fuel type, the global turbocharger market is
segmented into gasoline and diesel. Of these, the gasoline segment will
dominate the market over the forecast period.
·
By sales channel, the global turbocharger market is
segmented into aftermarket and OEM.
·
By vehicle type, the global turbocharger market is
segmented into off-highway vehicles, heavy commercial vehicle, light commercial
vehicle, and passenger cars. Of these, the heavy commercial vehicle will
spearhead the market over the forecast period.
·
By material, the global turbocharger market is
segmented into aluminium, cast iron, and others. Of these, the aluminium
segment will sway the market over the forecast period.
·
By application, the global turbocharger market is
segmented into agriculture and construction, marine, automotive, and others. Of
these, the automotive segment will have the lion's share in the market over the
forecast period.
Turbocharger Market Regional Analysis
By region, the global turbocharger market covers the growth opportunity
and recent trends across Europe, North America, the Asia Pacific (APAC), and
the Rest of the World (RoW). Of these, the APAC region will rule the market
over the forecast period. Growing demand from India, China, and Japan, cheap
labor, low raw material prices, strict government regulations, large population
base, increase in disposal incomes, and high penetration of diesel passenger
cars and light vehicles are adding to the turbocharger market growth in the
region.
In North America, the turbocharger market is predicted to have the
second-largest share over the forecast period. The growing need for new cars,
adoption of automotive turbochargers, demand for low-emission cars, government regulations
on car emissions, and increased production of cars are adding to the global
turbocharger market growth in the region.
In Europe, the turbocharger market is predicted to have healthy growth
over the forecast period for the increasing application of the latest
technology in automobiles.
In the RoW, the turbocharger market is predicted to have sound growth
over the forecast period.
Industry Updates
- January
2021- AVL Powertrain UK Ltd has selected Liebherr Aerospace Toulouse to
deliver 25 kW, 400 V two-stage electric turbochargers for supporting the
creation of fuel cell electric demonstrators for commercial cars.
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