Automotive Turbocharger Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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The global automotive turbocharger market is anticipated to expand at a compounded annual growth rate (CAGR) of 9.5% during the forecast period of 2022-2030.

Automotive turbochargers are typically turbine-driven forced induction devices that enhance internal combustion engines' efficiency and energy output (IC). These devices are utilized to send more fuel into the combustion chamber in scenarios where the vehicle’s atmospheric pressure might fail to keep up with the preferred output. These chargers are compact and offer various advantages, including the reuse of exhausted air, excessive engine overall performance, and multiplied air consumption in the combustion chamber. Turbochargers do not need any energy source to operate and work robustly in high-speed engines.

Growth Drivers:

Factors primarily driving the growth of this market include: the rapid development of electric turbochargers by leading market players worldwide; the growing need and demand for enhanced engine performance and fuel efficiency; the high number of stringent emission norms, especially in the developing countries across the globe; the rising adoption of TGDI (Turbocharged Gasoline Direct Injection) technology, especially in U.S., China, and Europe; the escalating demand of for robust and fuel-efficient gasoline-powered vehicles coupled with the increasing penetration of turbochargers in gasoline engines; and the proliferating adoption of petrol engines across the globe.


Additionally, with the rapidly surging production rate of automobiles across the globe, the concerns regarding environmental degradation are also rising. This is leading to an increased inclination among car manufacturers towards turbochargers as an effective option for keeping internal combustion (IC) engines cleaner. As a result, it is projected that more than 50.0% of the cars produced and sold will be turbocharged in the next few years. Alongside, the manufacturers are seen to be adopting new technologies and are also getting engaged in the development of a new range of advanced turbochargers into the market. All these factors are expected to bode tremendously well for the growth of the global automotive turbochargers market in the next few years.

Moreover, to reduce fuel consumption, lightweight alloys are employed for the production of turbochargers, which make the turbochargers compact, and aid in the reduction of engine and vehicle size. The increasing trend of engine downsizing across the globe due to the burgeoning difficulty of automobile weight and to lower emission levels is therefore creating ample growth opportunities for the growth of the global automotive turbochargers market during the forecast period.

Furthermore, other factors such as: the restricted availability of fuel; the increasing need for car producers to manufacture efficient engines and to comply with the Corporate Average Fuel Economy (CAFÉ) standards; the increasing number of government mandates to integrate vehicles with the latest technologies for controlling emissions, the expanding production of mild hybrid vehicles, and the enhancing demand for performance and luxury cars across the globe are expected to further bolster the growth of the global automotive turbocharger market during the forecast period.

However, factors such as high maintenance cost and cooling oil requirements associated with automotive turbochargers are expected to hinder the growth of the global automotive turbocharger market during the forecast period.

Automotive Turbocharger Market Segmentation:

By Vehicle Type:

·         Passenger Car

·         Light Commercial Vehicle

·         Heavy Commercial Vehicle

 

By Fuel Type:

·         Gasoline

·         Diesel

·         Alternate Fuel/CNG

 

By Technology Type:

·         Variable Geometry Turbocharger

·         Wastegate Turbocharger

·         Electric Turbocharger

 

By Component:

·         Compressor

·         Turbine

·         Housing

 

By Sales Channel:

·         OEM

·         Replacement/Aftermarket

 

By Material:

·         Cast Iron

·         Aluminum

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa


Based on vehicle type, the passenger car segment captured the largest share of the global automotive turbocharger market in 2021. The segment is anticipated to maintain its lead and grow at the highest growth rate in the market during the forecast period. The predominant factor ascribed to the large share of this segment is the comparatively snowballing production of passenger cars over commercial vehicles across the globe.

 

Based on technology type, the variable geometry turbocharger segment led the global automotive turbocharger market in 2021. The segment is expected to continue with its lead in the market during the forecast period of 2022-2030. The major factor driving this particular segment is the increasing usage of variable geometry turbochargers in diesel-powered vehicles due to their high performance. However, the electric turbocharger segment is estimated to witness the highest growth in the market during the forecast period due to the rapidly surging demand of these turbochargers due to their advantage of being used in commercial and light-duty vehicles.

 

Based on fuel type, the gasoline segment dominated the global automotive turbocharger market in 2021. The segment is predicted to maintain this trend further over the forecast period of 2022-2030. The burgeoning usage of turbochargers in gasoline engines as a result of the emergence of new emission regulations and the decreasing price of turbocharged gasoline engine technology are the primary factors contributing to the growth of this segment.

 

Regional Outlook:

The European region acquired the largest share of the global automotive turbocharger market in 2021, followed by the Asia Pacific and North America. The region is likely to remain dominant throughout the forecast period of 2022-2030. The increasing need to improve the efficiency of vehicles, the growing shift to turbochargers due to their declining prices; the introduction of electric turbochargers; the presence of various well-established automotive industry players; and the rising imposition of stringent regulations by governments in the region are majorly attributed to the large share and the high growth of the European region. Germany and U.K stand as the leading contributors to the growth of the market in the region.

 

The Asia Pacific region held the second-largest share in the global automotive turbocharger market in 2021. The region is expected to retain its position and attain the highest CAGR in the market during the forecast period. Factors such as the rapidly growing vehicle production, the rising number of stringent emission norms, the ever-increasing population, and the enhancing socio-economic conditions in the developing countries in the region are contributing to the growth of the market in the Asia Pacific region. India, China, Japan, Indonesia, and Thailand are the major contributors to the growth of this market in the region.

 

Key Companies in Automotive Turbocharger Market:

·         Honeywell International Inc.

·         Turbo Energy Private Limited

·         Mitsubishi Heavy Industries Ltd.

·         Garrett Motion Inc.

·         BorgWarner Inc.

·         IHI Corporation

·         Cummins

·         Bosch-Mahle

·         Continental AG.

·         Delphi Technologies

·         Robert Bosch Limited

·         Eaton Corporation PLC

·         Rotomaster International

·         Precision Turbo & Engine Inc.

·         Turbonetics Inc.

·         THE TURBO ENGINEERS GmbH

·         Other Players

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