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Automotive Turbocharger Market Expected to Reach $31.6 billion by 2025 , at a CAGR of 9.4%

09-17-2019 08:09 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Automotive Turbocharger Market Expected to Reach $31.6 billion

The Automotive Turbocharger Market, by value, is estimated to be USD 16.87 billion in 2018 and is projected to reach USD 31.61 billion by 2025, at a CAGR of 9.39% from 2018 to 2025.

The growth of the global automotive turbocharger market is influenced by factors such as the changing consumer preferences for greater power generating vehicles, stringent emission regulations in regions such as Europe and North America, and the upcoming regulation in Asian countries such as China and India.

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Automotive turbocharger market includes manufacturers such as Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).

Opportunities:

1 Future Demand for Electric Turbochargers to Create Opportunities for Turbo Manufacturers
2 Turbocharger for Gasoline Engines

The turbocharger technologies considered are VGT/VNT, wastegate, and electric turbocharger, which can enhance fuel efficiency and achieve better torque and power generation with less emission. VGT is expected to be the fastest-growing market, by technology, and is estimated to grow due to its benefits such as high efficiency and reduced turbo lag over other types of the turbocharger.

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Gasoline turbocharger market is expected to be the fastest-growing market. The turbocharger market for diesel vehicles is matured, and the market for gasoline turbochargers is growing at a rapid rate. However, in the current scenario, the penetration of turbocharged diesel vehicles is more than that of gasoline turbocharged vehicles. The upcoming emission norms in China and India, which are expected to be equivalent to Euro 6, will boost the market for gasoline turbocharged vehicles.

Turbochargers find an indispensable application in off-highway vehicles, such as construction vehicles, agricultural tractors, and locomotive, given the enhancement in power and performance, which is expected from these vehicles. Agricultural tractor application is expected to have the largest market, in terms of volume, over the forecast period.

The construction of a turbocharger involves the use of various materials such as cast iron, stainless steel, and aluminum. The increase in demand for overall turbocharger market coupled with the requirement for lightweight turbochargers will drive the global market for lightweight materials like aluminum and titanium for turbocharger application. Cast iron is estimated to have the largest market over the forecast period due to its benefits such as higher resistance to heat and its capacity to withstand high levels of pressure.

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A hybrid vehicle is expected to be the largest market for automotive turbocharger over the forecast period. The global eco-friendly vehicle market is booming due to the increasing concern over global warming and air pollution and the government support to reduce air pollution. Growth in the application of turbocharger in HEV & PHEV will be widely seen in North America and Europe due to their willingness to adopt state-of-the-art technology and strict emissions norms.

The Asia Oceania market is estimated to account for the largest share, by value, in 2018. The growth is attributed to the improving socio-economic condition in emerging economies such as China, India, Indonesia, and Thailand. To achieve the upcoming emissions limits, OEMs will have to install turbochargers in vehicles. As Asia Oceania is dominated by small cars production, OEMs are focusing on engine downsizing with turbocharger application. Hence, post-2020, the installation rate of turbochargers for passenger cars in Asia is projected to grow dramatically.

Target Audience:

*Manufacturers of turbochargers
*Raw material suppliers for turbochargers
*The automobile industry as an end-use industry and regional automotive associations
*Traders, distributors, and suppliers of turbochargers
*Turbocharger component suppliers

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=919

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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