‘Turbocharger Market to grow at 10.8% CAGR in 2021’– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Turbocharger Market is progressively growing at an excellent CAGR of 10.8% in the forecasted period.

The research studies Turbocharger Market in the trend period of 2010 to 2015 and forecasted period of 2016 to 2021 under five segments by Vehicle type (On-Highway Vehicles: Passenger Car, Light Duty Vehicle, Medium & Heavy Duty Vehicle, and Off-Highway Vehicles: Tractor and Construction Equipment), by Charger Type (Turbocharger and Supercharger), by Technology (VGT/VNT, Wastegate, and Twin Turbo), by Fuel Type (Gasoline and Diesel), by Region (North America, Europe, Asia-Pacific, and RoW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021

The study finds –
 Asia-Pacific is likely to remain the largest market for turbochargers in the next five years, driven by demand in emerging economies, such as China and India.
 Variable geometry turbocharger (VGT), also known as variable nozzle turbine (VNT) is the most widely used turbocharger worldwide.

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Turbocharger Market in the Transportation Industry: Highlights
The global turbocharger market in the transportation industry offers a robust growth opportunity and is likely to witness a double-digit growth of 10.8% (CAGR) during the forecast period of 2016 to 2021. Growing vehicle production coupled with the requirement for automakers to meet global environment emission and fuel efficiency regulations are the prime drivers of the turbocharger market. Increasing penetration / installation rates of turbochargers in the gasoline engine powered vehicles is the driving force of the market during the forecast period.

The fuel efficiency and environment emission regulations in many developed and developing countries are putting pressure on automakers to either reduce the vehicle weight or downsize the engine to achieve the targets. The Automakers are downsizing engines to satisfy the stringent global fuel economy and emission regulations and customer demand for better performing vehicles. Turbochargers help downsized engines improve fuel economy by 20% to 40% as compared to larger, naturally aspirated engines.

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Variable geometry turbocharger (VGT), also known as variable nozzle turbine (VNT) is the most widely used turbocharger worldwide. VGT / VNT is more efficient than traditional wastegate turbochargers and will continue to gain market share during the forecast period. VGT / VNT is well suited both for diesel as well as gasoline powered engines.

Asia-Pacific is likely to remain the largest market for turbochargers in the next five years, driven by demand in emerging economies, such as China and India. China is the world’s fastest growing automotive market and is projected to increase the turbocharger installation rates in its new vehicles from current 28% to 49% in the year 2021. This will lead to almost twofold increase in the demand of turbochargers in China in a span of five years.

North America is another growing market for turbochargers, driven by the demand for light weighting and engine downsizing in new vehicles to meet the CAFÉ standards. European turbochargers market is likely to witness a modest growth in the next five years. This region owns the world’s largest turbo diesel fleet and the highest turbocharger installation rates worldwide.
Most of the major turbocharger manufacturers have already set up their manufacturing plants in China to tap the regional growth potential. India, Japan, and South Korea have also joined the row and are projected to increase installation rates of turbochargers in the new vehicles. Apart from China, significant demand of turbochargers is expected to be generated from these countries in the next five years.

Transportation industry stakeholders are continuously trying hard to address the challenges related to the turbochargers, which are production of cost-effective turbochargers without sacrificing its performance and mitigating the noise generated by turbochargers.

The supply chain of this market comprises raw material suppliers, turbocharger component manufacturers, turbocharger manufacturers, distributors, and Automotive OEMs. The key On-highway OEMs are Daimler, General Motors, Toyota, Nissan, and Ford and the key off-highway OEMs are Caterpillar, Hitachi Construction Machinery, Komatsu, Hitachi Construction Machinery, Hyundai Heavy Industries, and Volvo Construction Equipment.

The global turbocharger market in the transportation industry is a highly consolidated market. The key turbocharger manufacturers are Honeywell International, Cummins, Continental AG, BorgWarner, Mitsubishi Heavy Industries, and IHI Corporation.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through the reports:

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This release was published on openPR.