Heavy Truck Turbocharger Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global heavy truck turbocharger market is anticipated to grow at a CAGR of 3.3% during the forecast period (2022-2028). Heavy 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 turbocharger diesel engines and increasing demand for innovative and efficient driving are some of the driving factors accelerating the growth of the global heavy truck turbocharger market. This has driven several countries to manufacture heavy commercial vehicles such as heavy trucks with high load capacity. Additionally,, increasing demand for a better driving experience with high power and speed are some driving factors contributing to the growth of the market.

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. Mono turbo is used as it supports to save space owing to its compact size as it does not require an extra wastegate or manifold. 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. A twin-turbo can have a positive effect on the vehicle's fuel economy and performance.

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 October 2021, Cummins, Inc. announced that it will bring to market a 15-liter natural gas engine for heavy-duty trucks, moving heavy-duty trucks to zero-emission.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Honeywell International Inc., BorgWarner Inc., and Cummins Inc., among others.

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Global Heavy Truck Turbocharger Market Report by Segment
By Type
•Mono Turbo
•Twin Turbo
By Application
•OEM
•Aftermarket

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?
•Deviation from the pre-COVID-19 forecast
•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?

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This release was published on openPR.