A comprehensive market report, prepared by Transparency Market Research (TMR), has been published and is titles as Automotive Turbocharger Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026”. And, as per analysts who worked on the report, the market will chart a decent CAGR (Compound Annual Growth Rate) of over 5% over the forecast period. Thant means a deluge of opportunities is on its way to the market players, ready to be tapped into.
Stringent Emission Norms Fueling Growth in Global Automotive Turbo Charger Market over the Forecast Period
Some of the significant drivers of growth in the global automotive turbo charger market include emission norms across countries, getting more stringent by the year, and a growing clamor for high power output vehicles. Thus, one notes manufacturers hustling to install vehicles with turbochargers. And, as smaller engines have lower excise duty, players want to downsize, taking on turbo chargers as the perfect solution.
So, in a nutshell, it can safely be said that good fuel economy and low emission, coupled in a smaller engine size is the driving force behind the high growth trajectory of the global automotive turbo charger market over the forecast period.
Also, it is noteworthy here that turbo chargers are not just used in diesel vehicles but also gasoline vehicles. And, since gasoline vehicles perform better in the exhaust front, these would see notable demand. Besides, some of the places in the world are mulling over the ban on diesel vehicles due to pollution creating a serious menace over major cities. Some of these cities are Madrid, Athens, New Delhi, and Frankfurt.
Here, it is pertinent to point out that due to the reasons mentioned above, and the growth that these are set to drive, there is an increase in investment in R&D (Research and Development) noted. A number of players are also focusing on expansion of R&D. And, thus it does not come as a surprise that the market is flanked with presence of innovative products such as e-turbo chargers. These are considered to revolutionize the market landscape over the coming years.
Competitive Landscape of Global Automotive Turbo Charger Market to be Fragmented over the Forecast Period
The global automotive turbo charger market is fragmented and key players in the market, flanking its landscape are Honeywell International Inc., IHI Corporation, MAHLE GmbH, Robert Bosch GmbH, BorgWarner Inc., Delphi Technologies, Cummins Inc., Eaton, Continental AG, Mitsubishi Heavy Industries Ltd., and Cardone Industries, among others. Players are focused on product differentiation and improvement via innovation. And, some go for mergers and acquisitions and exploration of synergy with other players.
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Europe to Project Solid Growth Statistics over the Forecast Period of 2018-2026
Home to a mature market for diesel vehicles, Europe will chart significant growth over the Forecast Period. Besides, some very prominent players flank the market. Another region that will present players with new opportunities of growth is the Asia Pacific (APAC). Growth here is attributable to increasing levels of disposable income, and government support.
The global automotive turbocharger market has been segmented as follows:
Global Automotive Turbocharger Market, by Engine
- Gasoline Engine
- Diesel Engine
Global Automotive Turbocharger Market, by Operation
- Conventional Turbocharger
Global Automotive Turbocharger Market, by Technology
- Twin Turbo
- VGT/ VNT
Global Automotive Turbocharger Market, by Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Off-road Vehicle
Global Automotive Turbocharger Market, by Sales Channel
- OEM (Original Equipment Manufacturer)
Global Automotive Turbocharger Market, by Region/Country/Sub-region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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