Press release
Automotive Turbochargers Market will Surpass US$ 19 Bn Value by 2022
Rising adoption of automotive turbochargers is also instrumented by shifting drivetrain technologies and availability of fuel alternatives. Consumers’ inclination towards alternative fuel engines is, however, expected to lower the market’s growth simply due to lack of advanced automotive turbochargers that can be compatible to all engine types. Moreover, fluctuating prices of commodities and components in the automotive world is also impacting automotive turbocharger manufacturers. The report distinctly projects a sluggish growth for the global automotive turbochargers market. Towards the end of 2022, the global automotive turbochargers market will soar at a moderate CAGR of 4.7%, bringing in revenues worth a little over US$ 19 Bn.
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Insights below will indicate the report’s forecast on global automotive turbochargers market during 2017-2022 period.
The report predicts that four out of every ten automotive turbochargers manufactured are installed in diesel engines. Gasoline engines, on the other hand, are dominating the global automotive turbochargers revenues, and are anticipated to bring in more than US$ 10 Bn by the end of 2022.
Through 2022, over half of the global automotive turbochargers market value will be attained by global sales of turbochargers in low price range.
With close to two-third share, passenger cars will be dominating global automotive turbochargers revenues in 2017.
The report reveals the aftermarkets will be largest sales outlets for automotive turbochargers in the world. In 2017, the global sales of automotive turbochargers through aftermarkets is anticipated to procure heavy revenues.
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In 2017, automotive turbochargers sold across the US and Canada raked revenues worth over US$ 5 Bn. It is pegged that North America will continue to be a lucrative region for growth of the automotive turbocharger market, and will reach a sizeable value by the end of 2022.
The report predicts that Europe’s automotive turbochargers market will grow steadily, reflecting a moderate CAGR through 2022.
In 2017 and beyond, more than 20% of global automotive turbochargers market value will attributed by the Asia-Pacific excluding Japan (APEJ) region, alone. The APEJ automotive turbochargers market will dominate the global market, primarily due to presence of automobile manufacturing hubs such as South Korea, China and India.
According to the report, companies such as IHI Corporation, Robert Bosch Limited, Continental AG, Honeywell International Inc., BorgWarner Inc., Mitsubishi Heavy Industries Ltd., Turbo Energy Private Limited, Eaton Corporation PLC., THE TURBO ENGINEERS GmbH, Turbonetics Inc., Rotomaster International, and Precision Turbo & Engine Inc. are observed as key players in the global automotive turbochargers market.
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