Automotive Turbochargers Market - BorgWarner Inc, Cummins, Inc, Honeywell, Linamar Corporation, Mitsubishi Heavy Industries, Turbonetics, Inc

Automotive Turbochargers Market is estimated to exceed USD 24.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing demand for high performance and fuel-efficient vehicles coupled with strict emission regulations will primarily drive the automotive turbochargers market size. Vehicles equipped with these products can reduce the carbon emission by up to 20% and 15% for diesel and gasoline-powered engines respectively. Enabling vehicle manufacturers for compliance with the emission norms will provide strong industry growth prospects over the forecast period.

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Gasoline segment will witness highest growth and is expected to account for over 32% automotive turbochargers market share by 2024. This is attributed to the high RPM generation and efficient fuel combustion in vehicles. Moreover, owing to high flammability of gasoline over diesel, system design contributes low space footprints. Thus, it contributes to the compact combustion chambers along with smaller engine components providing better fuel efficiency.

Aftermarket distribution channel in automotive turbochargers market is expected to witness growth at around 11% over the forecast timeframe. Aftermarket channels primarily cater to the replacement of damaged or failed engine components and customized consumer requirements. Increasing average fleet age across major economies will fuel the replacement and maintenance requirements.

Europe held the largest automotive turbochargers market share and is projected to continue its dominance over the study timeframe. High penetration of passenger cars in conjunction with the stringent regulations to keep the automotive emissions in check are expected to be among the prominent factors contribute to the regional growth. Moreover, significant presence of major automotive manufacturers such as Mercedes Benz, BMW, Audi, Volvo, and Volkswagen will drive the industry growth through the forecast period.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.Banks Power
2. BorgWarner
3. BMTS Technology
4. Cimos D.D.
5. Cummins, Inc.
6. Honeywell International, Inc.
7. IHI Corporation
8. Linamar Corporation
9. Magnum Performance Turbos
10. Mitsubishi Heavy Industries
11. Montupet
12. Precision Turbo & Engine
13. Rotomaster
14. The Turbo Engineers GmbH
15. Turbo Energy Private Limited
16. Turbonetics, Inc.

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VGT/VNT technology accounted for the largest automotive turbochargers market share in 2017. It is extensively used in commercial & off-highway vehicles and passenger vehicles for boosting the internal engine combustion performance. Increasing adoption of customized vehicles for recreational activities, motorsport events and military operations will positively influence the requirement of technologically-advanced solutions.

Engine horsepower falls 3% with every 1,000 feet above sea level. For instance, in India, road conditions range from sea level to 6,000m resulting in the 18% reduction of power produced by the engine. However, the performance of automotive turbocharger improves at high altitudes owing to the increase in pressure difference in turbines and outer atmospheric pressures, in turn positively influencing the industry growth.

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Honeywell International, Inc., IHI Corporation, Cummins, Borg Warner BMTS, and Mitsubishi Heavy Industries are among the major automotive turbochargers market participants. Other industry participants include Precision Turbo & Engine, Turbonetics, Inc., Rotomaster, The Turbo Engineers GmbH, and Turbo Energy Private Limited.

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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