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Automotive Turbocharger Market Global Outlook to 2027 – VGT/VNT Turbocharger, Wastegate Turbocharger, Electric Turbocharger

06-11-2021 03:41 PM CET | IT, New Media & Software

Press release from: Whipsmart Market Intelligence

A new statistical data titled Global Automotive Turbocharger Market 2021-2027 has recently been added by Market Reports Library to its vast research Database. The market centered exclusive report has been compiled with the help of primary and secondary research techniques which in return helps readers to gain complete knowledge on the Automotive Turbocharger market.

Automotive Turbocharger market is projected to grow at a CAGR of 10.5% during the forecasting period 2021-2027

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During the forecast period, the Automotive Turbocharger Market is expected to grow at a significant rate. Consumer preferences for more powerful vehicles are expected to drive the market, as are strict emission regulations in regions such as Europe and North America, as well as upcoming regulations in Asian countries such as China and India.

Because of its advantages over other types of turbochargers, such as high efficiency and reduced turbo lag, VGT is expected to be the fastest growing market.

During the forecast period, the gasoline turbocharger segment is expected to grow at the fastest rate. The market for automotive turbochargers for diesel vehicles has matured, while the market for gasoline turbochargers is rapidly expanding. However, in the current scenario, turbocharged diesel vehicles have a higher penetration than gasoline turbocharged vehicles. The market for gasoline turbocharged vehicles will be boosted by upcoming emission standards in China and India, which are expected to be equivalent to Euro 6.

The automotive turbocharger market is expected to be dominated by hybrid vehicles. Because of growing concern about global warming and air pollution, as well as government support to reduce air pollution, the global eco-friendly vehicle market is booming. Because of their willingness to adopt cutting-edge technology and strict emissions regulations, North America and Europe will see a significant increase in the use of turbochargers in HEV and PHEV vehicles.

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The market in Asia and Oceania is expected to be the largest. The improvement in the socioeconomic situation in emerging economies such as China, India, Indonesia, and Thailand is credited with the growth. OEMs will have to instal turbochargers in vehicles to meet the upcoming emissions limits. Due to the dominance of small car production in Asia and Oceania, OEMs are focusing on engine downsizing with the use of turbochargers. As a result, the rate of turbocharger installation in passenger cars in Asia is expected to skyrocket after 2020.

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