Automotive Turbocharger Market Forecast and Trends Analysis Research Report 2020-2027

 

The GMI Research expects the automotive turbocharger market to expand at a higher rate. From a regional perspective, the Asia Pacific is expected to increase at a faster CAGR due to the rising automotive production levels in economies including China, India, and Southeast Asian countries.

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Automotive Turbocharger Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)

Key Drivers

The favorable government policies, enhanced fuel efficiency and engine performance, and engine downsizing to reduce the weight of the vehicle are the major factors surging the growth of the global automotive turbocharger market share in terms of revenue. A vehicle's performance mainly depends on the engine, which enables companies to develop efficient engines that can capture the needs and offer enhanced fuel efficiency and engine performance. According to the automotive turbocharger market report, several governments have taken strong measures to mitigate emissions and decrease the dependency upon non-renewable energy resources, which the usage of turbochargers can reduce. Using a turbocharger minimizes the displacement volume of the cylinder, which further lessens the demand for fuel for the same output and, hence, decreases the vehicles' exhaust emissions. The emerging trend of downsizing the engine owing to the rising concern regarding the vehicle weight. In addition to this, lightweight alloys are generally used in the manufacturing of turbochargers to decrease fuel consumption, which makes turbochargers compact, thus reducing the size of the engine and overall vehicle. These factors are projected to bolster the market growth. The emergence of the COVID-19 pandemic has negatively influenced the growth of the automotive industry due to the temporary shutdown of manufacturing & assembly plants and the interruption in the exports of automotive components. As per the China Association of Automobile Manufacturers, there was approximately 33% of passenger car production downfall in the first quarter of 2020. These factors are hampering the growth of the global automotive turbocharger market.

Automotive Turbocharger Market’s leading Manufacturers:

·        Continental AG

·        Honeywell International Inc.

·        MITSUBISHI HEAVY INDUSTRIES, LTD.

·        BorgWarner Inc.

·        BMTS TECHNOLOGY

·        IHI Corporation

·        ABB

·        Cummins Inc.

·        Magnum Performance Turbos

·        TURBO ENERGY PRIVATE LIMITED

Automotive Turbocharger Market Segmentation:

Segmentation by Vehicle Type:

·        Passenger Vehicles

·        Light Commercial Vehicles

·        Heavy Commercial Vehicles

Segmentation by Fuel Type:

·        Gasoline

·        Diesel

·        Others

Segmentation by Technology:

·        Variable Geometry Turbocharger (VGT/VNT)

·        Wastegate Turbocharger

·        Electric Turbocharger

·        Twin Turbocharger

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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