Automotive Turbocharger Market include BorgWarner, Cummins, Federal-Mogul, Honeywell, Linamar, Mitsubishi Heavy Industries
This Research study on the Global Automotive Turbocharger Market offers detailed and insightful information on major regional markets and related sub-markets.
Automotive turbocharger market from PCVs are likely to capture highest revenue share, surpassing 60% by the end of 2024. Rising production of these vehicles across the globe, especially in developing countries of Asia Pacific will fuel the industry growth. Rising consumer demand for minimal loss in fuel efficiency and high-power output will further strengthen the product penetration. Rising international and local trading activities across the globe will propel the growth of automotive turbocharger market from HCVs.
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VGT turbochargers will grow rapidly, exhibiting more than 8% CAGR from 2017 to 2024. These turbochargers are responsible for precise controlling of NOx and particulate emissions. Moreover, shifting preference can be credited to the provision of multiple benefits such as increasing the engine efficiency, reduction in lag time, and cost effectiveness than the counterparts. Twin turbo segment for automotive turbocharger market will be valued at around USD 7 billion till 2024 owing to its advantages such as superior acceleration and power.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Banks Power
3. Bosch Mahle Turbo Systems
7. IHI Corporation
9. Magnum Performance Turbos
10. Mitsubishi Heavy Industries
12. Precision Turbo and Engine
14. Turbo Engineering
16. UCAL Fuel Systems
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Diesel will capture maximum volume share of over 60% by the end of 2024 owing to high production of vehicles with diesel across the globe. These vehicles have low efficiency and are responsible for more CO2 emissions. This has resulted in high demand of turbochargers, accelerating the industry demand. Automotive turbocharger market from gasoline will grow rapidly, witnessing more than 8% CAGR over the next eight years owing to shifting preference towards this fuel. It can be credited to the benefit of enhanced performance at high temperatures.
OEMs accounts for 90% automotive turbocharger market share in 2016. Increasing penetration of the system among the auto manufacturers offering superior efficiency along with offering reduced vehicle weight will boost the business demand. Increasing global vehicle production along with stringent engine emission norms will contribute significantly towards the volume share. Aftermarket segment will experience robust growth during the forecast period. This growth can be credited to increasing product popularity and rising need for replacement to suffice the emission norms. Presence of industry participants focusing on capturing aftermarket share will further fuel the business growth.
Europe driven by Germany, UK, France and Italy holds the major volume share and is estimated to continue its dominance over the study timeframe. This can be attributed to strict emission norms together with presence of major manufacturers. Asia Pacific automotive turbocharger market will pose over 8% CAGR between 2017 and 2024 owing to increasing demand from nations such as Japan, China, South Korea, and India.
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Prominent automotive turbocharger market participants are Weifang Fuyuan, Federal-Mogul, Linamar, IHI Corporation, Honeywell, Mitsubishi Heavy Industries, Montupet, Cummins Turbo Technologies, and BorgWarner. Other notable players are Magnum Performance Turbos, Bosch Mahle Turbo Systems, TEL, Turbo Engineering, Banks Power and Precision Turbo and Engine.
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