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Surging Passenger Car Demand Fuels Automotive Turbocharger Market: A Key Driver Powering Automotive Turbochargers Market Growth In 2025
Automotive Turbochargers
What Is the Current Automotive Turbochargers Market Size and Its Estimated Growth Rate?
The market size of automotive turbochargers has experienced robust growth in the past few years. The market, which stood at $15.47 billion in 2024, is expected to expand to $16.68 billion in 2025, representing a compound annual growth rate (CAGR) of 7.8%. The growth during the historical period is due to factors such as fuel efficiency rules, demands for performance improvement, engine downsizing, emission control norms, and a surge in use in the military sector.
Expectations are high for a considerable expansion in the automotive turbochargers market in the forthcoming years. By 2029, it is anticipated to be valued at $23.01 billion, growing at a compound annual growth rate (CAGR) of 8.4%. The projected growth during this period can be linked to a rising demand for electric turbochargers, a heightened interest in fuel-efficient vehicles, increased need for high-performance vehicles, a surge in the commercial vehicles' requirement, and a growing market for hybrid vehicles. Noteworthy trends predicted in this timeframe include the use of lightweight materials, the innovation of twin-scroll turbochargers, the application of 48v electric turbocharging systems, and the adoption of the e-boosting technology.
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How Are Emerging Segments Shaping the Automotive Turbochargers Market Landscape?
The automotive turbochargers market covered in this report is segmented -
1) By Vehicle Type: PCV, LCV, HCV
2) By Technology: VGT Or VNT, Wastegate, Twin-Turbo
3) By Sales Channel: OEM, After market
4) By Fuel Type: Gasoline, Diesel
Subsegments:
1) By PCV (Passenger Car Vehicle): Turbochargers For Gasoline Engines, Turbochargers For Diesel Engines, Twin-Scroll Turbochargers, Variable Geometry Turbochargers (VGT)
2) By LCV (Light Commercial Vehicle): Turbochargers For Diesel Engines, Turbochargers For Gasoline Engines, Heavy-Duty Turbochargers
3) By HCV (Heavy Commercial Vehicle): Turbochargers For Diesel Engines, Turbochargers For Natural Gas Engines, Heavy-Duty Turbochargers With Enhanced Durability
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Which Growth Factors Are Influencing Automotive Turbochargers Market Expansion?
The growth of the automotive turbocharger market is being propelled by the rising demand for passenger cars. Turbocharged engines usually have higher power density and fuel efficiency, and they also offer increased horsepower and torque. An escalation in purchasing power and low-interest rates in burgeoning economies, coupled with a consumer inclination towards personal vehicles, are predicted to fuel the demand for passenger vehicles, leading to a surge in the need for automotive turbochargers. For example, in March 2022, a report from the European Automobile Manufacturers' Association (ACEA), a key lobbying and standards body for the auto industry in the European Union, stated that US passenger car sales had increased by 5.5%, reaching 11.9 million units in 2021. There were more than 6.3 million passenger cars made in US factories in 2021, a rise of 3.1%.
Who Are the Dominant Players Across Different Automotive Turbochargers Market Segments?
Major companies operating in the automotive turbochargers market include Honeywell International Inc., Borg-Warner Automotive Inc., Mitsubishi Heavy Industries Ltd., IHI Corporation, Continental AG, Bosch Mahle GmbH, Cummins Inc., Delphi Technologies, Precision Turbo & Engine Inc., Turbonetics Inc., Turbo International Inc., ABB Asea Brown Boveri Ltd., Turbo Energy Private Limited, Rotomaster International Inc., Fuyuan Turbocharger Co. Ltd., Hunan Tyen Machinery Co. Ltd., Magnum Performance Turbos Inc., Mahle GmbH, Eaton Corporation, Napier Turbochargers Ltd., OptiCat LLC, Keyuan Industry Trading Co. Ltd., Kelin Motor Vehicle Air Conditioning Co. Ltd., Cimos D. D. Avtomobilska Industrija, Robust Power Inc., Turbotech Pvt. Ltd., Aeristech Ltd., Melet Turbo, Aerocharger Ballistics, Turbosmart Pty Ltd.
What Are the Latest Developing Trends in the Automotive Turbochargers Market?
Significant automotive turbocharger market players are focusing their efforts on creating cutting-edge products, such as turbochargers for hybrid and conventional vehicles, to improve performance and efficiency. Turbochargers, devices that utilize exhaust gas to propel a turbine, compress incoming air into the engine, resulting in an increase in efficiency and power by enabling a larger volume of air and fuel to enter the combustion chamber. For instance, in April 2023, the turbocharging firm, Garrett, unveiled its superior turbochargers. Specially designed to support hydrogen internal combustion engine (H2-ICE) vehicles that use hydrogen fuel, the advancement of Garrett Motion's turbochargers is particularly pertinent in the Chinese market. China has considerable investments in hydrogen fuel infrastructure and green hydrogen initiatives, leading to growing endorsements for sizable commercial hydrogen internal combustion engine vehicles (HICEVs). This positions Garrett Motion's turbochargers as a major contender in this budding market.
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Which Geographic Regions Are Expected to Dominate the Automotive Turbochargers Market in the Coming Years?
Western Europe was the largest region in the automotive turbocharger market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive turbochargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Turbochargers Market?
2. What is the CAGR expected in the Automotive Turbochargers Market?
3. What Are the Key Innovations Transforming the Automotive Turbochargers Industry?
4. Which Region Is Leading the Automotive Turbochargers Market?
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