Automotive Turbocharger Market Scope Analysis To 2024 | BorgWarner Inc., Honeywell, Linamar Corporation, Mitsubishi Heavy Industries, Cummins

Europe automotive turbochargers market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. For instance, Volvo is working on an innovative engine technology that combines turbocharging and supercharging technologies for providing superior power and torque.

Increasing demand for medium sized vehicles with lower capacity engines and efficient performance is driving the turbocharger market share over the forecast timeframe. The automobile industry is undergoing technological advancements to provide higher power with reduced engine size. The ability of the product to reduce fuel consumption and emit lower carbon emissions will induce a positive effect on the automotive turbochargers market place.

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Diesel accounted at more than 60% of the overall volume share in 2017. This dominance is attributed to the availability of multiple diesel vehicle models fitted with turbochargers across a diversified price range. Additionally, the improved fuel efficiency along with lower fuel cost compared to its counterparts strengthens the business growth. The availability of higher torque at lower RPM range along with smoother uphill driving experience plays a significant role over the study timeframe.

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

 Banks Power
 BorgWarner
 BMTS Technology
 Honeywell International Inc.
 IHI Corporation
 Linamar Corporation
 Mitsubishi Heavy Industries
 Rotomaster

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PCVs accounted for a revenue share of around 60% in 2017. This growth is attributed to the increasing sales of SUVs across the globe. Shifting trend towards buying compact SUVs and crossovers owing to smaller footprint along with superior power and ruggedness are boosting the segment share till 2024.

Variable geometry turbochargers will grow considerable at around 8% CAGR over the projected timeframe owing to benefits offered compared to the other counterparts. The ability to significantly alter the aspect ratio depending on the engine requirement is further supporting the segment share over the study timeframe. Further, the combination of multiple pressure ratios at defined engine speeds supporting in improved acceleration positively influences the product adoption till 2024.

OEM accounted for more than 90% market share in 2017 owing to the increasing deployment of the product in vehicles across the globe. The manufacturers are developing innovative solutions including electric turbocharging that reduces engine lag and uniform power delivery, thereby provides a positive outlook for the industry expansion.

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Some of the key manufacturers in the market share include Banks Power, BorgWarner, BMTS Technology, Honeywell International Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, and Rotomaster. Industry participants are engaged in merger and acquisition strategies to expand their product portfolio and geographical presence.

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