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Automotive Turbochargers Market 2023 - Global Industry Share, Growth, Drivers, Emerging Technologies And Forecast To 2032
Automotive Turbochargers Market
Automotive Turbochargers Market Size, Growth Rate, And Forecast
The global automotive turbochargers market size grew from $13.36 billion in 2022 to $14.6 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive turbochargers market size is expected to grow to $21.01 billion in 2027 at a CAGR of 9.5%.
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Automotive Turbochargers Market Drivers
The increasing demand for passenger cars is driving the growth of the automotive turbocharger market. Turbocharged engines generally have greater power density and high fuel efficiency, while allowing more horsepower and torque. The increase in purchasing power and low-interest rates in developing economies, along with consumer preference towards personal mobility, is expected to drive the demand for passenger cars, thus increasing demand for automotive turbochargers.
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Automotive Turbochargers Market Segments
• By Vehicle Type: PCV, LCV, HCV
• By Technology: VGT/VNT, Wastegate, Twin-Turbo
• By Sales Channel: OEM, Aftermarket
• By Fuel Type: Gasoline, Diesel
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the Automotive Turbochargers market.
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Automotive Turbochargers Market Key Players
Major competitors in the Automotive Turbochargers market include Honeywell, BorgWarner, Mitsubishi Heavy Industries, Ltd., IHI, Continental, Bosch, Mahle, Cummins, Delphi Technologies.
The Business Research Company's "Global Automotive Turbochargers Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Turbochargers Market Include:
1. Executive Summary
2. Automotive Turbochargers Market Characteristics
3. Automotive Turbochargers Market Trends And Strategies
4. Automotive Turbochargers Market - Macro Economic Scenario
5. Automotive Turbochargers Market Size And Growth
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26. Africa Automotive Turbochargers Market
27. Automotive Turbochargers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Turbochargers Market
29. Automotive Turbochargers Market Future Outlook and Potential Analysis
30. Appendix
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