This report on global automotive turbochargers market studies various type of fuel, technology, vehicles, and geography. Turbocharging plays a key role in the near future especially to meet the requirements for fuel emissions and fuel consumption reduction. However, it was observed that downsized engines fitted with a low number of cylinders optimal turbocharger control results in some technical issues. According to market experts, though automotive turbochargers are characterized by wide operating range and unsteady gas flow through the turbine, while only steady flow maps are usually provided by the manufacturer.
For the purpose of this study, the various types of fuels considered are diesel and gasoline. Market size estimates and forecast for these segments for the period 2015 to 2025 are provided in terms of USD Mn along with the respective CAGRs for the period 2017 to 2025, considering 2016 as the base year.
The study comprises, segmentation of automotive turbochargers on the basis of various types of technologies such as twin turbo, variable geometry, and wastegate technology. Market size estimates and forecast for these segments for the period 2015 to 2025 are provided in terms of USD Mn along with the respective CAGRs for the period 2017 to 2025, considering 2016 as the base year.
The automotive turbochargers market is also segmented on the basis of various types of vehicles such as heavy commercial vehicle (HCV), light commercial vehicle (LCV), and Passenger Vehicle (PV). Market size estimates and forecast for these segments for the period 2015 to 2025 are provided in terms of USD Mn along with the respective CAGRs for the period 2017 to 2025, considering 2016 as the base year.
The geographic segmentation of the global automotive turbochargers market includes regions such as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa markets. The regions are also further sub-segmented on the basis of major countries. Market size estimates and forecast for these segments for the period 2015 to 2025 are provided in terms of USD Mn along with the respective CAGRs for the period 2017 to 2025, considering 2016 as the base year.
The key players covered in automotive turbochargers market are BorgWarner, Inc., Continental AG, Honeywell Turbo Technologies, IHI Charging Systems International GmbH, Turbodyne Technologies, Inc., Cummins Inc., Delphi, Mitsubishi Heavy Industries, Ltd., and among others.
Based on the type of fuel, the automotive turbochargers market is segmented into:
In 2016, diesel accounted for the largest market share of 78.7% of the global automotive turbochargers market. During the forecast period 2017-2025, the demand for gasoline segment is expected to grow at a significant growth rate of 12.4%. Turbocharging is an integral component of the engine design concept especially used in diesel engine. It shapes the characteristics of the engine more than almost any other system, as it affects its economy, dynamics and emission characteristics. Honeywell has roughly doubled its estimate for diesel sales penetration by 2018, to 6% from 3%. By 2018, it expects diesel and gasoline turbo engines combined to account for about 20 to 25% of U.S. new-vehicle sales. The factors driving the global automotive turbochargers market comprises the growing penetration of turbochargers in gasoline vehicles, highest consumption in diesel vehicles, and rising trends towards engine downsizing.
Based on the type of technology, the automotive turbochargers market is segmented into:
In 2016, the wastegate technology segment was observed as the largest market due to incessant execution of fuel emission regulations in developing regions, high awareness about fuel efficiency among end-users, and has led to increased use of this technology in commercial vehicles, which is expected to assist the growth of this segment over the forecast period. According to market experts, wastegate technology is the largest market for being cost effective, reliable and durable for low to mid power ranges. It has been also observed that, wastegate turbochargers advance upon fixed geometry units with an overall 3% increase in efficiency, and they can be optimized for various emissions control systems.
Based on the type of vehicle, the automotive turbochargers market is segmented into:
Passenger vehicle segment accounted for the largest market share in 2016, the key factors assisting its market growth comprises, these are most widely used vehicles in the world, the engine specifications and fuel efficiency is high preferred by buyers in this segment, impressive drivability is an additional benefit with these turbochargers in passenger vehicle. According to Honeywell International, Inc., by 2020 around 70% of the entire light vehicles worldwide will be boosted by turbo technology. Thus, it makes LCV segment as one of the fastest growing segment in this market. The market experts suggested that, as most of the leading and emerging economies are getting aware about ecofriendly vehicles, automotive manufacturers are being challenged to meet increasingly stringent emissions and fuel efficiency requirements which is ultimately expected to assisit the market growth of turbochargers. Moreover, turbocharging offers one of the most cost-effective routes to achieving the desired results, whether in gasoline, diesel or hybrid powertrains.
Europe was observed as the largest market in 2016, due to developed countries following highly stringent regulatory policies associated with auto emissions, and it’s the largest market of diesel vehicles. Moreover, large demand towards electric and hybrid vehicles have already made Europe a matured market but due to presence of implementation challenges the demand in Europe of turbochargers is expected to dip. However, Europe has been in the lead of assimilating the modern engine boosting technologies into some of the world's most advanced and fuel efficient powertrains - but over last two years, the market for turbochargers has emerged on the U.S., Asia, and the rest of the world as Original Equipment Manufacturers (OEMs) and consumers focus to gain the energy efficiency benefits that turbocharging provides. Asia Pacific is the second largest automotive turbochargers market for 2016, due to the rising pollution levels in this region has impelled the governments to encourage vehicles with lower emissions and higher fuel efficiency.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Turbochargers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Fuel
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Technology
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Vehicles
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
