Truck Turbocharger Market Size Analysis 2022 Top Regions, Key Players and Investments Opportunities Forecast -2028

The global truck turbocharger market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028).

Truck turbochargers are a critical component of the engine. A turbocharger or supercharger is an air compressor that increases the pressure (boost) of air supplied to an internal combustion engine. The growing demand for new turbocharged diesel engines in developing countries, stringent emission norms across various regions, and increasing number of trucks are some driving factors accelerating the growth of the market. The truck industry is focusing on advanced technologies and increasing demand for innovative and efficient driving are supporting to drive the growth of the market. However, high cost associated with the installation of the truck turbocharger is the restraining factor for the growth of the market.

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The market is segmented based on the type and application. Based on the type, the market is sub-segmented into mono turbo and twin-turbo. A mono turbocharger is a turbocharger with one turbine and compressor. It is the simplest form of turbochargers and is usually found on smaller engines. This type of turbocharger is used in electric cars as it delivers a boost through a single exhaust port. Mono turbochargers are less expensive than their twin-turbo counterparts, however, they are also less efficient. A twin-turbo system is two turbochargers that are connected to the engine. The aim of using these twin-turbos is to reduce turbo lag time between when step on the accelerator and when the engine starts producing boost pressure.

Some major players in the market include Honeywell International Inc, BorgWarner Inc, and Cummins Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in May 2021, BorgWarner Inc. entered into a global agreement to supply its advanced eTurbo to a major European OEM for high-voltage hybrid passenger cars. Additionally, in June 2019, ABB launched its A200-H turbocharger designed to offer a simple, single-stage high-performance solution for gas engines and cost-effective solutions for the 22-24 BMEP range.

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- Honeywell International Inc., BorgWarner Inc., 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 has 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 players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Truck Turbocharger Market Report by Segment

By Type
• Mono Turbo
• Twin Turbo

By Application
• OEM
• Aftermarket

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This release was published on openPR.