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Automotive Turbocharger Market worth $19.2 billion by 2026| MarketsandMarkets

11-30-2021 05:36 AM CET | Tourism, Cars, Traffic

Press release from: MarketsandMarkets

Automotive Turbocharger Market worth $19.2 billion by 2026|

According to the new market research report "Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Fuel Type, Application (Agriculture, Construction), Vehicle (Passenger Car, LCV, Truck & Bus), Aftermarket and Region - Global Forecast to 2026", Published by MarketsandMarkets™, The Automotive Turbocharger Market is projected to reach USD 19.2 billion by 2026 from USD 11.8 billion in 2021, at a CAGR of 10.2%.

Browse in-depth TOC on “Automotive Turbocharger Market”
413 - Tables
54 - Figures
282 – Pages

A decrease in NOx emission limits in upcoming emission norms, increasing demand for passenger cars with gasoline engines is expected to drive the Automotive Turbocharger Market.

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The gasoline segment is expected to be the largest segment during the forecast period

The usage of turbochargers in gasoline engines is projected to increase at a high rate owing to the decline in the price of turbocharged gasoline engine technology and new emission regulations. These factors will encourage OEMs to increase the usage of turbochargers in gasoline passenger cars.

The electric turbocharger segment by technology is expected to be the fastest-growing market

The electric turbocharger has high potential and can be used in both light-duty as well as commercial vehicles that run on fuels such as gasoline, diesel, and CNG. The demand for electric turbochargers with 48V mild hybrid and full hybrid technology is expected to grow in the coming years. The Asia Pacific will be the largest market, followed by Europe and North America. The 48V hybrid technology, which makes internal combustion engines significantly more efficient at relatively low costs, is a better option in terms of costs and emissions. These advantages would drive the demand for electric turbochargers.

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The Asia Pacific is estimated to be the dominant regional market

The Asia Pacific is the largest producer of passenger cars in the world, owing to the presence of leading automotive manufacturers in the region. Major automobile-producing countries in the Asia Pacific are China, Japan, India, and South Korea. The Asia Pacific is also the largest market for automotive turbochargers owing to the stringent emission norms implemented in this region. China VI-a, with its limits lower than Euro VI, was implemented in 2019 for gas engines, and China VI-b is set to be implemented in 2021. India’s BS-VI norms were implemented in 2020 (skipping BS V norms).

Garrett Motion Inc. (US), Continental AG (Germany), BorgWarner Inc. (US), Mitsubishi Heavy Industries (Japan), and IHI Corporation (Japan) are the leading manufacturers of the automotive turbocharger in the global market. These companies adopted new product development, and expansion strategies to gain traction in the Automotive Turbocharger Market.

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/turbochargers-market-919.html

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/turbochargers-market.asp

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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.

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