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Global Market Automotive Turbocharger is Anticipated to grow at a Significant Pace i.e., USD 19.21 Billion during the Forecast Period 2021-2027

01-16-2022 07:05 PM CET | Logistics & Transport

Press release from: VynZ Research

Automotive Turbocharger Market

Automotive Turbocharger Market

The global automotive turbocharger market is expected to witness a CAGR of 10.1% during the forecast period. Turbochargers are used in the automotive industry to meet the standards regulated by the government regarding the emission of exhaust gases like CO2 and other harmful gases from the vehicle. The reduction in NOx emission limits in forthcoming emission norms and rising demand for passenger cars having gasoline engines will propel the growth of the global automotive turbocharger market. The increased adoption of Turbocharged Gasoline Direct Injection (TGDI) technology in countries like China, the US, and Europe will led to the growth of the automotive turbochargers market.

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The manufacturers in the automotive turbocharger industry are spending a huge amount of money in R&D activities to develop advanced technology, designs, and mechanisms so as to enhance the performance of the engine and reduce the consumption of fuel.

The COVID-19 outbreak has reduced the production of vehicles, resulting in a slowdown in the automotive turbocharger market. However, the pandemic will have a positive influence on the gasoline turbocharger market as diesel engines are expensive and implementation of emission norms will increase the cost of diesel engines. Moreover, the outbreak will have a positive effect on ICE vehicles as Many OEMs have delayed their electric vehicle plans, resulting in a better chance for growth of the turbocharger market.

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Based on vehicle type, the automotive turbocharger market is divided into PCV, LCV, and HCV. The PCV segment dominates the automotive turbocharger market owing to the implementation of mandatory emission norms by the government so as to decrease harmful emissions from passenger vehicles. Thus, automobile manufacturers are integrating automotive turbochargers in passenger cars and heavy-duty vehicles.

Asia-Pacific dominates the automotive turbocharger market as it is the largest producer of passenger cars globally due to the presence of major automotive manufacturers in the region. Furthermore, stringent emission norms like China VI-A, India-BS-VI norms will fuel the growth in the region.

Some of the major players in the global automotive turbocharger market include GARRETT MOTION INC., Continental AG, BorgWarner Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., IHI Corporation, Honeywell International Inc., Cummins Inc., ABB, Linamar Corporation, and Rotomaster.

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About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.

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