Automotive Turbocharger Market: Exploring Opportunities through Market Share and Growth Projections
anujmyorbisThe global automotive turbocharger market is projected to reach USD 18.61 billion by 2026, as stated in the TechSci Research report titled "Global Automotive Turbocharger Market By Vehicle Type, Engine Type, Technology Type, Operation Type, Region, Competition, Forecast & Opportunities, 2026." This growth is driven by government regulations for emission control and the increasing demand for high-performance vehicles, leading original equipment manufacturers to reduce engine size. Downsizing the engines addresses concerns about vehicle weight, and turbochargers play a vital role in this process. They utilize lightweight alloys for manufacturing, resulting in reduced fuel consumption and compact turbochargers, which, in turn, reduce overall engine and vehicle size. Engine downsizing also improves mileage and enhances vehicle performance, encompassing fuel efficiency, increased power output, and reduced carbon dioxide emissions. The improving road infrastructure further fuels the demand for turbochargers globally, allowing consumers to purchase high-performance vehicles. Original Equipment Manufacturers (OEMs) are heavily investing in research and development to enhance turbocharger performance.
Browse more than 145 market data Figures spread through 184 Pages and an in-depth TOC on "Global Automotive Turbocharger Market"
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The trend of rising disposable income also contributes to the increased demand for turbochargers in the automotive market. With greater financial capacity, people are willing to invest in new and efficient technology, favoring turbocharger-based engines in their vehicles. Additionally, growing awareness of environmental issues drives the demand for turbochargers. Concerns about pollution caused by gases like carbon monoxide emitted by vehicles have led governments worldwide to campaign for the use of vehicles that reduce pollution levels. As a result, people are increasingly opting for turbocharger-based engine vehicles, which emit less pollution compared to conventional vehicles. Moreover, recent observations indicate a growing demand for turbochargers in commercial vehicles. Turbocharger-based engines not only reduce vehicle emissions but also significantly decrease fuel consumption, meet stringent environmental standards, provide high performance, and align with the economic goals of operators.
The global automotive turbocharger market can be segmented based on vehicle type, engine type, technology type, and operation type. In terms of vehicle type, passenger cars hold the majority share due to high sales volume and increasing demand for high-performance cars. Passenger cars are expected to remain in high demand during the forecast period, driving increased turbocharger sales in this segment compared to light commercial and heavy commercial vehicles. Gasoline engines dominate the automotive turbocharger market, accounting for over half of the market share, and this trend is expected to continue in the forecast period. Wastegate technology holds more than one-third of the total market share in the technology segment, which is projected to increase to over half of the total market share in the forecast period. Conventional turbochargers currently dominate the market in terms of operation type, but e-turbochargers are expected to grow at a higher compound annual growth rate (CAGR) than conventional turbochargers in the forecast period.
Regionally, the Asia-Pacific market leads the automotive turbocharger market, followed by Europe and North America. This trend is expected to continue in the forecast period, with slight changes in market shares compared to 2020.
Key players operating in the global automotive turbocharger market include Garret Motion Inc., BorgWarner Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd., Bosch Mahle Turbosystems GmbH, Cummins Turbo Technologies, Inc., and Magnum Performance Turbos Inc. These players are focusing on developing advanced technologies, launching new products, and implementing competitive strategies such as mergers and acquisitions, new product developments, increased marketing activities, and global product portfolio enrichment to maintain their market competitiveness and expand customer outreach.
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“In 2020, Asia-Pacific accounted for the largest share i.e., 54.26% in the global automotive turbocharger market and it is expected to dominate in the forecast period as well. Asia-Pacific is leading the global automotive turbocharger market because of the increasing demand for high-performance vehicles.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Automotive Turbocharger Market By Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), By Engine Type (Diesel and Gasoline), By Technology Type (VGT/VNT, Wastegate, Electric Turbocharger), By Operation Type (Conventional and E-Turbocharger), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the Global Automotive Turbocharger market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global automotive turbocharger market.
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