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  • Automotive Turbocharger Market Forecast | 2022-28

    Automotive Turbocharger Market Forecast | 2022-28

    Automotive Turbocharger Market Forecast | 2022-28
    Report code - SRTI117 Delivery - 2 Weeks
    Automotive Turbocharger Market Size, Share, Growth, Forecast, & Competitive Analysis - See more...

    Market Insights

    The global automotive turbocharger market was estimated at USD 12 Billion in 2021 and is likely to grow at a CAGR of 10.44% from 2022-2028 to reach USD 24.28 Billion in 2028.

    The key automotive turbocharger market drivers are:
    • an expected rebound in vehicle production,
    • emission and fuel efficiency regulations,
    • Increasing penetration/installation rates of turbochargers in gasoline engine-powered vehicles is the driving force of the market during the forecast period.

    The fuel efficiency and environmental emission regulations in many developed and developing countries are putting pressure on automakers to either reduce the vehicle weight or downsize the engine to achieve the targets. The automakers are downsizing engines to meet the stringent global fuel economy and emission regulations and customer demand for better-performing vehicles. Turbochargers help downsized engines improve fuel economy by 20% to 40% as compared to larger, naturally aspirated engines.

    Key Players

    Transportation industry stakeholders are continuously trying hard to address the challenges related to the turbochargers, which are production of cost effective turbochargers without sacrificing its performance and mitigating the noise generated by turbochargers.

    The supply chain of this market comprises raw material suppliers, turbocharger component manufacturers, turbocharger manufacturers, distributors, and Automotive OEMs.

    The key On-highway OEMs are-

    • Daimler
    • General Motors
    • Toyota
    • Nissan
    • Ford

    and the key off-highway OEMs are-

    • Caterpillar
    • Hitachi Construction Machinery
    • Komatsu
    • Hitachi Construction Machinery
    • Hyundai Heavy Industries
    • Volvo Construction Equipment.

    The global turbocharger market in the transportation industry is a highly consolidated market.

    Top players in automotive turbocharger market are

    • Honeywell International
    • Cummins
    • Continental AG
    • BorgWarner
    • Mitsubishi Heavy Industries
    • IHI Corporation.

    New product development, custom product offering, and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.

    Segment Analysis

    Automotive Turbocharger Market: By Vehicle Type

    The market is segmented as On-Highway Vehicles: Passenger Car, Light Duty Vehicle, Medium and heavy Duty Vehicle, and Off-Highway Vehicles: Tractors and Construction EquipmentPassenger Car dominated the overall market with a share of more than 58% in 2021.

    Automotive Turbocharger Market: By Fuel Type

    The market is segmented as gasoline and dieselGasoline fuel type segment share more than over 49.5% in 2021 and is likely to expand at a CAGR of nearly 8.5% over the forecast period.

    Automotive Turbocharger Market: By Technology Type

    This market is segmented as VGT/VNT, Wastegate, and Twin Turbo. VGT / VNT is more efficient than traditional wastegate turbochargers and will continue to gain market share during the forecast period. VGT / VNT is well suited both for diesel as well as gasoline powered engines.

    Automotive Turbocharger Market: Regional Insights

    Asia-Pacific is likely to remain the largest market share of 11% CAGR for automotive turbochargers in the next five years, driven by demand in emerging economies, such as China and India. The European market is likely to witness a market share of around 51.11% in 2021. This region owns the world’s largest turbo diesel fleet and the highest turbocharger installation rates worldwide.

    • China is the world’s fastest-growing automotive market and is projected to increase the turbocharger installation rates in its new vehicles from 25% to 47% in the year 2028. This will lead to an almost twofold increase in the demand of turbochargers in China in five years.
    • North America is another growing market for turbochargers, driven by the demand for lightweighting and engine downsizing in new vehicles to meet the CAFÉ standards.
    • Most of the major turbocharger manufacturers have already set up their manufacturing plants in China to tap the regional growth potential. India, Japan, and South Korea have also joined the row and are projected to increase installation rates of turbochargers in the new vehicles. Apart from China, significant demand of turbochargers is expected to be generated from these countries in the next five years.

    Segmentation

    Global Automotive Turbocharger Market Research Scope

    Trend & Forecast Period

    2014-2025

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Forecast

    >10% CAGR during 2020-2025

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, Russia, Italy, UK, China, Japan, India, South Korea, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

    The market is segmented in the following ways:

    Automotive Turbocharger Market Share & Forecast, by Vehicle Type:

    • On-Highway Vehicles
    • Passenger Car
    • Light Duty Vehicles
    • Medium & Heavy-Duty Vehicles
    • Off-Highway Vehicles
    • Tractor
    • Construction Equipment

    Automotive Turbocharger Market Share & Forecast, by Charger Type:

    • Turbocharger
    • Supercharger

    Automotive Turbocharger Market Share & Forecast, by Fuel Type:

    • Gasoline
    • Diesel

    Automotive Turbocharger Market Share & Forecast, by Technology Type:

    • VGT / VNT
    • Wastegate
    • Twin Turbo
    • Region
    • Vehicle Type

    Automotive Turbocharger Market Share & Forecast, by Region:

    • North America (Country Analysis: The USA, Canada, Mexico)
    • Europe (Country Analysis: Germany, France, United Kingdom, Italy, Russia, Rest of Europe)
    • Asia-Pacific (Country Analysis: China, japan, South Korea, India, Rest of Asia-Pacific)
    • Rest of the World (Latin America, Middle East)

    Research Methodology

    How is the automotive turbocharger market estimated?

    • Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 
    • For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points.
    • We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.
    • More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This report, from Stratview Research, studies the global turbocharger market in the transportation industry over the period 2014 to 2025. The automotive turbocharger market report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3)
    • SWOT analysis of key players (up to 3)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your enquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Automotive turbocharger market was estimated at USD 12 Billion in 2021 and is likely to grow at a CAGR of 10.44% from 2022-2028 to reach USD 24.28 Billion in 2028.

    Honeywell International, Cummins, Continental AG, BorgWarner, Mitsubishi Heavy Industries, and IHI Corporation are among the key players in the automotive turbocharger market.

    Asia-Pacific is likely to remain the largest market for turbochargers in the next five years, driven by demand in emerging economies, such as China and India.

    Growing vehicle production coupled with the requirement for automakers to meet global environment emission and fuel efficiency regulations are some of the major drivers of the turbocharger market.

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