Automotive Turbochargers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies And Forecasts, 2017 To 2025
Automotive Turbochargers Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025, the Automotive Turbochargers market was valued at USD 9,979.7 Mn in 2016, and is expected to reach USD 23,897.0 Mn by 2025, expanding at a CAGR of 9.7% from 2017 to 2025.
Turbocharging technology is expected to play a vital role in the near future especially to meet the requirements for pollutant emissions and fuel consumption reduction. However, in case of downsized engines fitted with a low number of cylinders optimal turbocharger control is still an issue. According to experts, although automotive turbochargers are characterized by wide operating range and unsteady gas flow through the turbine, while only steady flow maps are usually provided by the manufacturer. The key factors assisting the growth of automotive turbochargers market are rising demand for improved vehicle performance, engine downsizing that makes the vehicle lighter with improved fuel efficiency, and reduced fuel emissions help to meet the regulations set by government.
The automotive turbochargers market can be segmented on the basis of gasoline and diesel, diesel was observed as the largest market as it contours the characteristics of the diesel engine more than almost any other system, as it enhances its economy, dynamics and emission characteristics. The key factors assisting the growth of global automotive turbochargers market are the growing penetration of turbochargers in gasoline vehicles, highest consumption in diesel vehicles, and rising trends towards engine downsizing.
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On the basis of technology automotive turbochargers market is segmented on the basis of twin turbo, variable geometry technology, and wastegate technology. In 2016, the wastegate technology segment was anticipated as the largest market as it provides ability for constant execution of fuel emission regulations in developing regions, high awareness about fuel efficiency among end-users, and increased use of this technology in commercial vehicles. According to market experts, it has been also observed that, wastegate turbochargers advance upon fixed geometry units with an overall 3% increase in efficiency, and they can be optimized for various emissions control systems. Europe was observed as the largest market in global automotive turbochargers market. The key factors assisting the growth of Europe market are developed countries following highly stringent regulatory policies associated with auto emissions, and it’s the largest market of diesel vehicles. Moreover, large demand towards electric and hybrid vehicles have already made Europe a matured market but due to presence of implementation challenges the demand in Europe of turbochargers is expected to dip.
Key Market Movements:
- Developed countries following highly stringent regulatory policies associated with auto emissions
• Engine downsizing is making the vehicle lighter with improved fuel efficiency
• Reduced fuel emissions help to meet the regulations set by government
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