Turbocharger Market Global Automotive Industry 2018: Key Players - Honeywell, BorgWarner, Mitsubishi, Heavy Industries, IHI, Continental, Cummins, Bosch

Automotive Turbocharger Market research of 108 pages supported with Table and Figures deeply analyzes Automotive Turbocharger market size, share, growth, trends, global key players, and opportunities with forecast to 2023.Global Automotive Turbocharger Market Information Report by Type (Gasoline Engine, Diesel Engine, and New Energy Engine), By Application (Passenger Vehicle and Commercial Vehicle), and by Region.

Global automotive turbocharger market has very broad market in coming recent years. MRFR analysts has predicted that automotive industry is about to grow at a rapid pace, moreover, the speedy rising sales of passenger cars and technological innovations have also been a growth momentum. The global automotive turbocharger market is expected to reach USD 24,223.3 million by 2023 with 7.97% CAGR. Automotive turbocharger is a turbine, which is driven by the energy of exhaust gas generated by the internal combustion engine. Typically, a turbocharger consists of two parts and they are a turbine and a compressor, which run parallel with the help of a shared shaft. A turbocharger improves the fuel efficiency of the engine by pushing more clean air in the engines to burn fuel and deliver greater power.

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Automotive Turbocharger Market Key Players Analyzed:

Honeywell International Inc. (U.S.), BorgWarner Inc. (U.S), Mitsubishi Heavy Industries, Ltd (Japan), IHI Corporation (Japan), Continental AG (Germany), Cummins, Inc.( U.S.), Bosch Mahle(Germany), Bullseye Power, LLC (U.S.), Precision Turbo and Engine(U.S.) and Fengcheng Xindongli Turbocharger Co., Ltd.( China).

Market Segmentation:

The global automotive turbocharger market is segment based on type, application, and region. On the basis of type, Gasoline Engine segment expected to witness highest growth in global automotive turbocharger market during the forecast period due to increase power and are designed to run at much higher RPMs (Revolutions per minute) than in diesels. Diesel engine is expected to be the second largest segment because they can handle high combustion pressures created by diesel fuel. Based on application, Passenger Cars expected to witness highest growth in global automotive turbocharger market with share of 54.70% in 2016 due to increase income level. High demand for automobiles is primarily driven by rising demand of passenger car among large pool of population, increasing per capita income in emerging countries, and expansion of global auto-manufacturers into new emerging markets and others.

Regional Analysis:

Asia-Pacific accounted for the largest market share of 40.75% in 2016 due to increase in the vehicle production in developing countries such as India and China. The demand for turbochargers is largely dependent on vehicle production in developing countries such as India and China. The vehicle production is growing, which in turn would push the demand for turbocharged vehicles. Moreover, factors such as increase in vehicle production, large population base, growing demand for diesel vehicles, upcoming emission norms, and economic shifts are driving the Asia-Pacific turbocharger market. China accounted for the largest market share with a market value of USD 2,862.6 million and is projected to grow at the highest CAGR of 9.65% during the forecast period.

The vehicle production is growing, which in turn would push the demand for turbocharged vehicles. Moreover, factors such as increase in vehicle production, large population base, growing demand for diesel vehicles, upcoming emission norms, and economic shifts are driving the Asia-Pacific turbocharger market. North America accounted for the second largest market during the forecast period due to increase in demand of the new vehicles. The factor that are responsible for the growth of automotive turbocharger market are continuous growth in global automotive industry and stringent vehicle emission regulations. Many stringent policies have been imposed worldwide in recent years to reduce negative effects on environment due to which the demand for turbocharger is increasing. The amended rules will apply to all vehicles run on petrol, CNG, LPG, electric, diesel and hybrid. The factor responsible for the increase in vehicle sales, is the macroeconomic development and the rise in the global middle class consumers.

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