Automotive Turbocharger Market To Witness Huge Growth By 2026
Global Automotive turbocharger market is anticipated to depict a CAGR of 7% through 2026, having recorded a valuation of 16 billion in 2019. By 2026, the Automotive turbocharger industry is expected to hit a remuneration of 27 billion.
Automotive turbocharger deployment is likely to be driven by steadily increasing demand for fuel-efficient engines in passenger, light-duty and heavy-duty vehicles. With gradually evolving technology landscape in the automotive sector, several automobile manufacturers are leveraging the benefits of automotive turbochargers in order to increase fuel efficiency and to accelerate engine performance.
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The escalating demand for low-emission vehicles that are designed to comply with stringent government regulations is likely to create lucrative opportunities for auto component producers over the coming years. Estimates suggests that global automotive turbocharger market size will exceed USD 27 billion in annual valuation by 2026.
Automotive turbochargers significantly improve engine performance along with reducing emissions. They boost the performance vehicles operating at high altitude conditions by enhancing engine power. These turbochargers are experiencing heavy demand from light commercial vehicles as well for the similar advantages offered.
In a bid to cater to the increasing consumer demand for high performance vans and trucks, several light commercial vehicle manufacturers are integrating these systems to new vehicle. Introduction of variable geometry chargers and variable nozzle turbine technologies has significantly increased the adoption of turbochargers in passenger cars as they provide flexible aspect ratio to boost engine performance at variable speeds by alternating the turbine geometry.
With imposition of strict emission laws, the adoption of gasoline engines by vehicle manufacturers has been consistent over the past few years. This is in turn resulting in heavy adoption of gasoline turbochargers.
In a bid to tackle the rising burden of carbon and nitrous oxide emissions in environment, various countries across Europe have imposed strict regulations for vehicular emissions. The European Parliament formally adopted new CO2 emission standards for passenger vans and cars in 2019. Keeping the stringent regulations in consideration, various automotive manufacturers across the region are working on reducing emissions from vehicle exhaust, which has drastically shifted focus towards automotive turbochargers.
Europe automotive turbocharger market size will grow exponentially over the analysis period on account of the presence of established automakers such as Audi, Daimler and BMW in the region. These players are gradually integrating advanced turbocharger systems in new vehicles to enhance engine performance and drivability. For instance, BMW announced the launch of its new BMW X5 SUV in 2019. The new model is equipped with twin-turbocharger technology, designed specifically for the European market.
Notably, companies such as Banks Power, BorgWarner, Magnum Performance Turbos, Turbonetics Inc., Turbo Energy Pvt Ltd, BMTS Technology, The TurboEngineers GmbH, Rotomaster, Precision Turbo & Engine, Montupet, Mitsubishi Heavy Industries, Linamar Corporation, IHI Corporation, Honeywell International Inc., Cummins Inc., and Cimos D.D. are currently developing advanced automotive turbochargers.
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Partial Chapter of the Table of Content
Chapter 4. Automotive turbocharger Market, By Vehicle
4.1. Key trends by vehicle
4.2. PCV
4.2.1. Market estimates and forecast, 2015 – 2026
4.3. LCV
4.3.1. Market estimates and forecast, 2015 – 2026
4.4. HCV
4.4.1. Market estimates and forecast, 2015 – 2026
Chapter 5. Automotive turbocharger Market, By Technology
5.1. Key trends by technology
5.2. VGT/VNT
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. Wastegate
5.3.1. Market estimates and forecast, 2015 – 2026
5.4. Twin turbo
5.4.1. Market estimates and forecast, 2015 – 2026
Chapter 6. Automotive turbocharger Market, By Fuel
6.1. Key trends by fuel
6.2. Gasoline
6.2.1. Market estimates and forecast, 2015 – 2026
6.3. Diesel
6.3.1. Market estimates and forecast, 2015 – 2026
Chapter 7. Automotive turbocharger Market, By Distribution Channel
7.1. Key trends by distribution channel
7.2. OEM
7.2.1. Market estimates and forecast, 2015 – 2026
7.3. Aftermarket
7.3.1. Automotive turbocharger Market estimates and forecast, 2015 – 2026
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