Automotive Turbocharger Market Overview, Size, Share Opportunities, and Challenges By Major Players (2023-2030)

Automotive Turbocharger Market size was valued at USD 26.89 Bn by 2030, More quickly than in the past, naturally aspirated gasoline engines are giving way to turbocharged engines.

The analysis done by SNS Insider claimed the demand for automotive turbochargers is on the rise due to a confluence of factors driving the evolution of the automotive industry. With the growing emphasis on environmental sustainability, automakers are under pressure to develop vehicles that are both powerful and fuel-efficient. Turbochargers offer a clever solution, as they harness exhaust gases to increase engine efficiency, resulting in improved power output without a significant increase in fuel consumption.

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Market Scope:

With the global automotive landscape shifting towards cleaner and more sustainable transportation, turbochargers play a pivotal role in achieving these goals by improving engine efficiency. In addition, new markets, technology developments, and the desire for environmentally friendly substitutes are broadening the application of automotive turbochargers, which makes them an essential part of the automotive industry's future.

Opportunity Analysis:

In the realm of automotive turbochargers, the landscape is ripe for innovative opportunities. With the global push towards cleaner and more efficient vehicles, turbocharging technology stands as a pivotal player in achieving these goals. The quest for reduced emissions and enhanced fuel efficiency has never been more pressing, and turbochargers offer a unique pathway to deliver increased power while maintaining eco-friendly standards.

Leading Players:

Fengcheng Xindongli Turbocharger Co. Ltd (China), Precision Turbo and Engine (US), Bullseye Power LLC (US), Bosch Mahle (Germany), Cummins Inc. (the US), Garrett Motion Inc. (US), Continental AG (Germany), Mitsubishi Heavy Industries (Japan), BorgWarner Inc. (US), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd (Japan), BorgWarner Inc. (US), Honeywell International Inc. (US) are leading players in the Automotive Turbocharger market.

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Segmentation Analysis:

The automotive turbocharger market is a diverse and dynamic industry, segmented by various factors such as vehicle type, fuel type, and technology type. Each segment exhibits distinct characteristics and growth trends, offering unique opportunities for market players. By vehicle type, the market is carried by the increasing demand for turbochargers in passenger cars, fuelled by the increasing popularity of downsized engines and the desire for improved fuel efficiency and performance. However, commercial vehicles are also gaining traction, particularly in the heavy-duty segment, as turbochargers are crucial for meeting stringent emission regulations and enhancing power output.

Regional Analysis

The APAC region will be the region with the highest region by having government to support and at the same time the private players investing heavily. The region is expected to grow at the highest level during the forecasted period as the new innovations and as the climate sustainability will be the key factor for the growth.       

Key Takeaways

Stringent emission regulations are pushing automakers to adopt fuel-efficient technologies, and turbochargers are a key enabler in this regard. By compressing intake air, turbochargers allow engines to burn less fuel and produce more power, resulting in reduced emissions.
The demand for fuel-efficient vehicles is increasing, as consumers become more conscious about the climate and also seek cost benefits. Turbochargers play a crucial role in meeting this demand, as they can significantly improve fuel economy without compromising performance.
Downsized engines are becoming increasingly popular, as they offer both fuel efficiency and performance benefits. However, downsizing can also lead to reduced power output. Turbochargers can effectively compensate for this loss of power, ensuring that downsized engines deliver the performance that drivers expect.

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Recent Developments:

Honeywell: In April 2022, Honeywell launched its Next-Generation E-Boosting Technologies at an auto expo in Shanghai. These technologies are designed to improve fuel economy and reduce exhaust emissions in hybrid fuel cell vehicles.

BorgWarner: Company announced a partnership with Delphi Technologies to develop and commercialize advanced turbocharging systems for gasoline engines. The two companies plan to bring their first advanced turbocharging system to market in 2023.

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This release was published on openPR.