Global Commercial Car Turbocharger Market Emerging Trend, Top Companies, Industry Demand and Regional Analysis by 2028

The global commercial car turbocharger market is anticipated to grow at a considerable CAGR 3% during the forecast period (2022-2028). The turbocharger also known as "Turbo" is a turbine-driven component of the engine that provides an enhancement in internal combustion by increasing the supply of air in the engine. The major factor attributing to the growth of the global car diesel engine turbocharger market includes the increase in motor vehicle production and sales across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles including commercial cars were manufactured and around 57 million passenger cars were produced in 2021. Thus, increasing the demand for turbochargers in commercial cars.

Several governmental norms regarding emission control are increasing the adoption of turbochargers. For instance, in March 2022, the US Environmental Protection Agency (EPA) proposed a new set of rules for controlling air pollution due to vehicle emissions that will become active in the model year 2027. The new proposed emission rule will focus on reducing smog and soot-forming nitrogen oxide (NOx) from gasoline and diesel engines and set standards for the emission of greenhouse gases (GHG). Furthermore, the application of turbochargers is also increasing in commercial cars due to several benefits offered by turbochargers. These benefits include a significant increase in horsepower, allowing small engines to deliver more power, enhancement in fuel economy, and increased efficiency of engines, among others. Thus, propelling the growth of the global commercial car turbocharger market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, BrogWarner Inc., an American automotive supplier acquired Delphi Technolgoies Inc., a combustion system and electrification products provider. This acquisition will benefit BrogWarner Inc. in expanding its product portfolio including turbochargers.

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

• Segment Covered-
o By Material

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

• Competitive Landscape- Honeywell Imternational Inc., BrogWarner Inc., Continental AG, Robert Bosch GmbH, 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?

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Global Commercial Car Turbocharger Market Report by Segment

By Material
• Cast Iron
• Aluminium

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This release was published on openPR.