Electric Turbocharger Market To Reach USD 695.8 Million By 2032 Growing At A Gigantic CAGR Of 21.0% Over The Projected Period | VALEO, GARRETT MOTION INC, CALNETIX TECHNOLOGIES, LLC, IHI CORPORATION, ELECTROCRAFT

Global Electric Turbocharger Market To Reach USD 695.8 Million By 2032, from USD 130.81 million in 2022; growing at a gigantic CAGR of 21.0% over the projected period. Increase in need for higher capacity turbochargers, and increase in automotive aftermarket are the major reasons that will drive growth of the market.

Growing preference for electric vehicles has further helped manufacturers in developing these types of vehicles, thus driving the demand in the global Electric Turbocharger market. Increase in demand for fuel efficiency in vehicles, increase in sales of passenger cars, rise in need for performance in heavy duty vehicles, stringent government regulations towards vehicle emission are the factors expected to increase the demand for automotive turbocharger during the forecast period.

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Some of the leading players in the global Electric Turbocharger market are VALEO, GARRETT MOTION INC, CALNETIX TECHNOLOGIES, LLC, IHI CORPORATION, ELECTROCRAFT, INC, BMTS TECHNOLOGY (Bosch Mahle Turbosystems GmbH), TORQAMP, Alvier Mechatronics GmbH.

For downsizing requirements, more (complex) turbochargers will be used to compensate for smaller engines with lower power. Shift in technology from wastegate to VGTs and electric superchargers, which will drive revenue growth for suppliers. Turbochargers are considered to be one of the key levers for reducing consumption and emissions in combustion engine and hybrid vehicles while maintaining engine performance.

Single Turbo Electric Turbocharger Held the Largest Share of the Application Segment

Based on the application, the electric turbocharger market is categorized into single-turbo, twin-turbo and other market (it includes Twin Scroll Turbo, Variable Geometry Turbo, and Variable Twin Scroll Turbo). Single turbo was estimated to account for more than 48% share in the electric turbocharger revenue in 2022 due to the large scale adoption among the passenger vehicles. Relatively low cost of single-turbo type as compared to other variant along with the low space requirement makes it an ideal choice for the passenger vehicle.

Extensive Use of Iron Cast Material in Automotive Sector Facilitating the Magnetic Material Usage

Based on the material, the electric turbocharger market is segmented into magnetic and non-magnetic material. Magnetic material was estimated to dominate the electric turbocharger market with the market share of more than 69% in 2022. The market growth is credited to the wide scale adoption of the cast iron material among the OEMs for the development of turbochargers. The shaft of the turbocharger levitates freely and so less power is required to drive the shaft with the implementation of magnetic material in the electric turbocharger, which reduces the friction to a great extent and decreases the turbo lag. There is no requirement for lubrication of bearings as they are replaced by levitation concept thus reducing space occupied, the weight, and making the turbocharger more efficient.

High Demand for Fuel Efficient Cars to boost the Passenger Vehicles Segment Growth

Based on vehicle type, electric turbocharge market is bifurcated into passenger, commercial and sports vehicle. In 2022, Passenger vehicles was the leading segment of the global electric turbocharger market, in terms of revenue, with total share of more than 45%. The growth of the market is attributed to the large scale production of the passenger vehicles across the globe. Earlier, the electric turbocharger was majorly used in the sports vehicles to enhance the horsepower of the engines. However, as the need for more fuel efficient engines is rising, the automakers started to develop electric turbocharger for the passenger vehicles. Additionally, the stringent government regulations to reduce the CO2 emission is also supporting the growth of the market. On the other hand, commercial vehicle market is estimated to gain traction during the forecast period.

North America Leads the Global Demand for the Electric Turbocharger

North America is estimated to account for majority share in the electric turbocharger market due to the large scale production of the sports and luxury cars in the region. Western Europe follows the North America with as the second major contributor in terms of revenue.

On the other hand, Asia Pacific region is expected to see the most revenue growth with more than 23.0% CAGR during the forecast period. The market growth is attributed to downsizing trend for gasoline vehicles and strong vehicle growth respectively.

Chapter covered in this report:

Chapter 1 mainly defines the market scope and introduces the macro overview of the industry, with an executive summary of different market segments ((by type, application, region, etc.), including the definition, market size, and trend of each market segment.

Chapter 2provides a qualitative analysis of the current status and future trends of the market. Industry Entry Barriers, market drivers, market challenges, emerging markets, consumer preference analysis, together with the impact of the COVID-19 outbreak will all be thoroughly explained.

Chapter 3 analyzes the current competitive situation of the market by providing data regarding the players, including their sales volume and revenue with corresponding market shares, price and gross margin. In addition, information about market concentration ratio, mergers, acquisitions, and expansion plans will also be covered.

Chapter 4focuses on the regional market, presenting detailed data (i.e., sales volume, revenue, price, gross margin) of the most representative regions and countries in the world.

Chapter 5 provides the analysis of various market segments according to product types, covering sales volume, revenue along with market share and growth rate, plus the price analysis of each type.

Chapter 6 shows the breakdown data of different applications, including the consumption and revenue with market share and growth rate, with the aim of helping the readers to take a close-up look at the downstream market.

Chapter 7 provides a combination of quantitative and qualitative analyses of the market size and development trends in the next five years. The forecast information of the whole, as well as the breakdown market, offers the readers a chance to look into the future of the industry.

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