Turbo Charger Market Emerges with HONEYWELL, BORGWARNER and IHI CSI during 2018-2023

Market Analysis:

Emission Regulation is the major factor, which is driving the turbocharger market. Though most of the countries are concerned about the environmental effects of the automotive emissions. China, owing to its overriding environmental concerns, is poised to be the fastest growing market for turbochargers, followed by India. Many established manufacturers are planning to cease the production of naturally aspirated engines, thus creating an opportunity for the turbo system industry.

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Automotive emission regulation is the major factor that is fuelling the introduction of cleaner and low-emission vehicles among automakers. Turbocharger is the component that is forcing car industry to make engines compliant to the stringent emission standards. The dependence of transportation industry on diesel engines, especially for heavy-duty performances, is a primary driver for the turbocharger market. The growing electric vehicle industry is a great threat to the fossil fuel-based power generators and the dependent automotive turbochargers market. Moreover, governmental incentives, taken for the electric vehicles, are helping auto industry in their shift from combustion engines to electricity powered vehicles.

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Market Segments:
Turbo Charger Market is segmented by:
1. Engine Type: Diesel Engine, Gasoline Engine
2. End Consumers: OEM, Aftermarket
3. Vehicle Type: Passenger Vehicles , Commercial Vehicles, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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This release was published on openPR.