Turbocharger Market estimated to grow at 10.8% CAGR in the forecast period (2016-2021)

Summary:
The report on the Turbocharger Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2016-2021. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Turbocharger Market is expected to inflate at impressive CAGR of 10.8% by the forecast period (2016 – 2021).

As per the report, the market is segmented by:
• By Vehicle Type: On Highway Vehicles, Off Highway Vehicles
• By Charger Type: Turbocharger, Supercharger
• By Fuel Type: Gasoline, Diesel
• By Technology Type: VGT/VNT, Wastegate, Twin Turbo
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/138/turbocharger-market.html

Highlights of the Report:
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.

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.

Key Players of the Market
The market is consolidated in nature with five major players Borgwarner Inc., Continental AG, Cummins Inc., Eaton Corporation, Honeywell International Inc. holding together the major share in the market, with Borgwarner Inc. being the key player.
Other important firms are Mitsubishi Heavy Industries, IHI Corporation

Features of the Report
The Report discusses about the working of the turbochargers, the various types, and the growth of the turbochargers in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

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This release was published on openPR.