Automotive Turbochargers Industry to Achieve $22.24 Billion Growth by 2029

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How Will the Automotive Turbochargers Market Grow by 2025 in Terms of Size and Growth?
The market size for automotive turbochargers has seen a robust expansion in the recent past. It is projected to rise from $15.47 billion in 2024 to $16.47 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The surge during the former period resulted from factors such as regulations for fuel efficiency, demand for performance improvement, engine downsizing, emission control norms, and escalated utilization in the military sector.

What Are the Estimated Growth Rates for the Automotive Turbochargers Industry Through 2029?
The market size of automotive turbochargers is anticipated to experience notable expansion in the coming years, reaching $22.24 billion in 2029 with a 7.8% compound annual growth rate (CAGR). This projected growth can be related to several factors: the increasing popularity of electric turbochargers, a surge in demand for cars with improved fuel efficiency, a heightened interest in high-performance automobiles, and a higher demand for commercial and hybrid vehicles. The forecast period also highlights several trends such as the utilization of lightweight materials, the development of twin-scroll turbochargers, the use of 48v electric turbocharging systems, and the adoption of e-boosting technology.

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What Are the Strategic Drivers Boosting Automotive Turbochargers Market Performance?
The automotive turbocharger market is being propelled by the escalating need for passenger cars. The greater power density, high fuel efficacy, and enhanced horsepower and torque of turbocharged engines make them an attractive option. The rise in disposable income and affordable finance options in emerging economies, in conjunction with the preference for individual mobility, are projecting a boost in the demand for passenger cars, which in turn is triggering a higher requirement for automotive turbochargers. For example, the European Automobile Manufacturers' Association (ACEA), which is the key advisory and standardization group for the auto industry in the European Union, issued a report in March 2022 indicating that passenger car sales in the US rose by 5.5%, hitting 11.9 million units in 2021. Moreover, over 6.3 million passenger vehicles were manufactured in US automotive factories in 2021, marking a 3.1% increase.

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What Are the Segments in the Automotive Turbochargers Market?
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

What Are the Key Adoption Trends in the Automotive Turbochargers Market?
Leading corporations in the automobile turbocharger industry are prioritizing the creation of advanced technological products, such as hybrid and non-hybrid vehicle turbochargers, to increase performance and efficiency. Turbochargers are instruments that use exhaust fumes to power a turbine, compressing incoming air into the engine to augment its efficiency and power output by facilitating the entry of an increased volume of air and fuel into the combusting chamber. To provide an example, in April 2023, Garrett, a turbocharging firm, introduced its advanced turbochargers. These turbochargers from Garrett Motion, remarkably created to support hydrogen internal combustion engine (H2-ICE) vehicles, use hydrogen as fuel. This breakthrough technology is particularly pertinent in China, given the substantial investments being poured into hydrogen fueling facilities and eco-friendly hydrogen initiatives. Consequently, there is growing endorsement for large commercial hydrogen internal combustion engine vehicles (HICEVs), positioning the turbochargers from Garrett Motion as a significant player in this emergent market.

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Which Companies Lead the Competitive Landscape of the Automotive Turbochargers Industry?
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.

Where Are the Key Automotive Turbochargers Market Opportunities by Region?
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

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