Global Exhaust Gas Turbochargers Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The global exhaust gas turbochargers market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028). An exhaust gas turbocharger consists of a compressor wheel and exhaust gas turbine wheel coupled together by a solid shaft and is used to boost the intake air pressure of an internal combustion engine. The market growth is majorly attributable to the growing shift of consumers toward gasoline engine passenger vehicles, which results in a substantial fall in the growth of diesel engines. Owing to the factors such as the rising fuel prices, rising global warming, and higher prices of diesel vehicles than petrol vehicles, the shift has been observed for gasoline engines. Adding to this, key emission norms of various regions including the China-VI, Euro-6, and PROCONVE P-8 have also pushed the market for gasoline engines. This, as a result, has augmented the growth of passenger car exhaust gas turbochargers production, thereby driving the market growth.

The market growth is also attributable to the growing trend of TGDI (Turbocharged Gasoline Direct Injection) technology in developed economies coupled with the strict emission regulations. For instance, according to HIS (one of the leading sources for US automotive registration data) in 2016, 25.5 million passenger cars were registered with TGDI technology. It is further estimated that by 2024, 8 out of 10 cars produced in North America will be TGDI equipped. Further, as per the reports of ICCT in Europe, TGDI technology increased from 10% in 2009 to 38% in 2014. In South America, TGDI technology is projected to grow from 0.04 million units in 2016 to 0.8 million units in 2023.

Some key players operating in the market include BorgWarner Inc., Mitsubishi Heavy Industries, Ltd., and Cummins Inc., among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in November 2020, BorgWarner Inc. declared the extension of its product offering by launching 3 new BorgWarner Turbochargers for passenger car applications.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Type
o By Application

• Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape: BorgWarner Inc., Mitsubishi Heavy Industries, Ltd., and Cummins Inc., among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

A full report of Global Exhaust Gas Turbochargers Market is available at:
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Global Exhaust Gas Turbochargers Market Report by Segment

By Type
• Radial Flow
• Axial Flow

By Application
• Light Truck
• Heavy Truck
• Passenger Car

Global Exhaust Gas Turbochargers Market Report by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa

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This release was published on openPR.