Press release
Major Growth Driver Identified in 2025 Compressor Wheel Market: Automotive Industry's Surge Fueling Compressor Wheels Market Growth
Compressor Wheel Market
Compressor Wheel Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the compressor wheel market has seen a substantial surge in its size. The predictions showcase an upscale from $15.85 billion in 2024 to $16.78 billion in 2025, marking a compound annual growth rate (CAGR) of 5.9%. The unprecedented growth during the historical period is a result of factors such as demand from the automotive industry, influence of the aerospace industry, advancements in material science, the necessity for fuel efficiency, and emissions standards.
Compressor Wheel Market Size Forecast: What's the Projected Valuation by 2029?
The market for compressor wheels is projected to experience consistent expansion over the forthcoming years, with an estimated worth of $20.16 billion by 2029, and a compound annual growth rate (CAGR) of 4.7%. The growth within the projected period can be assigned to factors such as electric and hybrid vehicles, fuel efficiency standards, investments in aerospace and defense, worldwide economic trends, and applications for renewable energy. The upcoming period forecasts several trends including advanced manufacturing techniques, development of variable geometry turbochargers, integrating computational fluid dynamics (cfd), along with the inception of eco-friendly and sustainable practices.
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What Are the Drivers Transforming the Compressor Wheel Market?
The surge in demand within the automobile industry is predicted to catalyze the growth of the compressor wheels market in the future. The automotive industry encompasses an amalgamation of sectors involved primarily in the conception, creation, manufacturing, promotion, and selling of motorized vehicles. Integral to the automotive industry, compressor wheels amplify the efficacy and operation of turbochargers, delivering increased power and better fuel efficiency to vehicles. In 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-rooted international association of automotive manufacturers, reported noteworthy growth in the global automotive industry with the total vehicle production hitting 93546599 units, distinctly rising from the 85016728 units manufactured in the previous year, 2022. Hence, the burgeoning need within the automobile industry is fueling the progression of the compressor wheels market. Focusing on the growth driver for the compressor wheel market, the swift expansion of manufacturing industries is anticipated to boost its growth in the future. Manufacturing industries engage in the mass production of goods by processing raw materials into completed products. They deploy compressor wheels in several applications like air compression systems, thereby enhancing the efficiency in procedures like pneumatic tools, HVAC, and gas compression. For instance, in July 2023, as reported by the Office for National Statistics, a UK-based authority for official statistics, and the National Statistical Institute of the UK, the total sales value for UK manufacturers reached a peak of $545.85 million (£429.8 billion), a 7% leap from $509.91 billion (£401.5 billion) in 2021. Therefore, the swift expansion of manufacturing industries is furthering the advancement of the compressor wheels market.
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What Long-Term Trends Will Define the Future of the Compressor Wheel Market?
Leading firms in the compressor wheel market are channeling their efforts towards the creation of inventive compressor wheel models to ensure dependable services for their clients. An embodiment of inventive engineering is the compressor wheel with an S-shaped hub design, crafted to amplify the compressor's effectiveness and performance. Case in point, Cummins Inc., an American corporation renowned for designing, producing, and selling engines, filtration, and power generation goods, announced the launch of its pioneer e-compressor for fuel cell engines in March 2024. The e-compressor is characterized by a low-inertia rotor facilitating swift start-ups and improved acceleration, complemented by a full blade impeller which lessens noise for a polished operation. Further, its aerodynamic construction optimizes energy efficiency and fuel usage, while a low-thrust loading wheel guarantees stable and smooth rotation. Its sturdy containment design significantly enhances safety by providing larger safety margins from containment testing.
Which Segments in the Compressor Wheel Market Offer the Most Profit Potential?
The compressor wheel market covered in this report is segmented -
1) By Product Type: Titanium Compressor Wheel, Aluminum Compressor Wheel, Stainless Steel Compressor Wheel, Twin Blade Compressor Wheel
2) By Application: Automotive Engine, Stationary Engine
3) By Sales Type: OEM (Original Equipment Manufacturer), After market
Subsegments:
1) By Titanium Compressor Wheel: Single-Stage Titanium Compressor Wheel, Multi-Stage Titanium Compressor Wheel
2) By Aluminum Compressor Wheel: Cast Aluminum Compressor Wheel, Forged Aluminum Compressor Wheel
3) By Stainless Steel Compressor Wheel: Single-Stage Stainless Steel Compressor Wheel, Multi-Stage Stainless Steel Compressor Wheel
4) By Twin Blade Compressor Wheel: Billet Twin Blade Compressor Wheel, Cast Twin Blade Compressor Wheel
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Which Firms Dominate the Compressor Wheel Market by Market Share and Revenue in 2025?
Major companies operating in the compressor wheel market report are Honeywell International Inc., BorgWarner Inc., Atlas Copco AB, Wabtec Corporation, UACJ Corporation, Ingersoll Rand PLC, Garrett Motion Inc., Doncasters Group Ltd., Booster Precision Components, ATP Turbo, Melett North America Inc., Phessio Turbo, Rotomaster, Full-Race Motorsports, GReddy Performance Products Inc., Turbonetics Inc., ABI Showatech Private Ltd., Turbo tech Precision Products Ltd., E&E Turbo, Owen Developments, Turbo Systems, Forced Performance Turbochargers, Blouch Performance Turbochargers, Nelcon Motor Company, Pacifica Power Sdn Bhd., Changzhou E and E Turbo Power Co. Ltd., Jiangyin Uni-Pol Vacuum Casting India Pvt. Ltd.
Which Regions Offer the Highest Growth Potential in the Compressor Wheel Market?
North America was the largest region in the compressor wheel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compressor wheel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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