Turbocharger Market 2019 By Type and Application, Forecast to 2029 | By Top Key Players: Refone Auto Power Co Ltd, Rotomaster International, Tanboress Technology Limited, Turbo Energy Private Limited, Turbonetics, Inc. (Wabtec Corporation)

A turbocharger is a turbine-driven forced induction device that increases an internal combustion engine’s efficiency and power output by forcing extra air into the combustion chamber. This device primarily runs on fuels such as gasoline and diesel. Whereas, fuels such as electricity can be also used for operating these devices. Turbochargers have applications in automotive, agriculture, aircraft, locomotive, and others. The global turbocharger market has been segmented by fuel type, technology, application, and sales channel.

Growing Demand for High Fuel Economy and Stringent Vehicular Emission Regulations is a much greater emphasis on the reduction of CO2 emissions and the improvement of fuel consumption of vehicles globally. Turbochargers are considered a great solution as they transform the exhaust gas released from the consumed fuel energy into power. In the past few years, turbochargers have gained significant traction among vehicle manufacturers. It allows them to reduce the combustion engine sizes, potentially cutting fuel consumption by more than 30%. Besides, the technology offers lesser CO2 emissions, improved fuel economy, and better engine performance than non-turbocharged engines.

A recent marketing research report added to the repository of 'Straits Research' is an in-depth analysis of the worldwide Turbocharger Market. On the idea of historic growth analysis and current scenario of Turbocharger marketplace, the report intends to supply actionable insights on Global market growth projections. Authenticated data presented within the report is predicated on findings of in-depth primary and secondary research. Insights are drawn from data function excellent tools that facilitate a deeper understanding of multiple aspects of the worldwide Turbocharger market.

The reduced carbon dioxide levels from the vehicles help the manufacturers comply with the increasingly stricter norms and regulations, thus boosting the product's demand. Nowadays, turbocharged engines attract a rising number of environment-friendly drivers backed by their performance benefits and high green credentials. With the added advantage of fuel economy, the technology improves fuel consumption up to 40% in diesel engines and up to 20% in gasoline engines, making it common in most lightweight passenger vehicles.

Around 25 million cars were sold in 2018 in India, and the number rose to 26.3 million K Units in 2019, as per the statistics published by the IBEF. The growing middle-class population and changing demographics to millennials are resulting in the strong growth of the passenger cars market, which is anticipated to fuel turbochargers' demand. The China Association of Automobile Manufacturers (CAAM) estimates a rise of 11.1% y-o-y growth in passenger cars' retail sales in 2021, with the sales volume reaching 2.14 million K Units. The rapid growth of the passenger vehicle segment and the shifting focus to electric vehicles is anticipated to create demand for turbochargers in the coming years. The market in the passenger car segment is expected to grow at a CAGR of 7.36% during the forecast period.

The turbocharger market is expected to generate USD 24,854 million in 2019 to USD 47,107 million in 2029.

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The Major Players Covered in this Report:
Refone Auto Power Co Ltd, Rotomaster International, Tanboress Technology Limited, Turbo Energy Private Limited, Turbonetics, Inc. (Wabtec Corporation), Napier Turbochargers Ltd, WeifangFuYuan Turbochargers Co Ltd, Aerocharger, LLC, Ningbo Motor Industrial Co Ltd, PBS Turbo s.r.o., Precision Turbo & Engine Inc., ABB Ltd., BMTS Technology GmbH & Co. KG, BorgWarner Inc., Marelli Holdings Co. Ltd., Continental AG, Cummins Inc., Eaton Corporation, Garrett Motion Inc., Hartzell Engine Technologies LLC. (Aeroforce), Honeywell International Inc., Hunan Tianyan Machinery Co Ltd, IHI Corporation, Kawasaki Heavy Industries, Ltd, KompressorenbauBannewitz GmbH, LI JUN Enterprise Co Ltd, MAN Energy Solutions, Mitsubishi Heavy Industries Ltd, & More...

By Fuel Type
Diesel
Gasoline
Others

By Technology
Wastegate Technology
Variable Geometry Technology
Twin-turbo Technology
Others

By Sales Channel
OEMs
Aftermarket

By Application
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Agriculture
Aircrafts & Marine
Others

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Turbocharger in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Turbocharger market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Turbocharger and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Turbocharger. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Recent Developments
BorgWarner expanded its coverage with the new GTA45 replacement turbochargers for the Detroit Diesel Series 60 engine, Series 60 EPA-2004 in Nov 2020
Continental extends its line of turbochargers for the aftermarket – BMW, MINI, and brands of VW group in Nov 2020
Garrett Motion Inc added another electrification technology innovation to its portfolio with the recently announced development of the world’s first “E-Turbo” for passenger vehicles with Mercedes-AMG. in July 2020

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The report covers exhaustive analysis on:
Overview of the parent market
Global Turbocharger Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Turbocharger Market Forecast 2019 to 2026
Supply & Demand Value Chain
Global Turbocharger Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key Questions Answered in the Report:
What is the current scenario of the Global Turbocharger market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global Turbocharger Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

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