The Global Automotive Turbocharger Market to grow from USD 15.57 billion in 2022 to USD 32.21 billion by 2030, at a CAGR of 9.50%.
PUNE, MAHARASHTRA, INDIA, November 14, 2023 /EINPresswire.com/ — The “Automotive Turbocharger Market by Technology (Electric Turbo, Single Turbo, Twin Turbo), Operation (Conventional Turbocharger, E-Turbocharger), Component, Distribution, Engine, Vehicle – Global Forecast 2023-2030″ report has been added to 360iResearch.com’s offering.
The Global Automotive Turbocharger Market to grow from USD 15.57 billion in 2022 to USD 32.21 billion by 2030, at a CAGR of 9.50%.
Automotive turbochargers are definitive, force-induction systems that significantly increase an internal combustion engine’s efficiency and power output by forcing extra compressed air into the combustion chamber. These enhancements improve vehicle performance, making automotive turbochargers an increasingly popular component across the automotive sector. The rising consumer awareness and demand for high-performance vehicles, the necessity for improved fuel efficiency, and stricter emission regulations compelling automakers to adopt turbocharger systems. However, the high initial costs associated with turbochargers and the complex installation process may hinder the adoption of the automotive turbocharger. Nevertheless, advancements in electric turbocharging technology and the transition towards hybrid vehicles are expected to create lucrative opportunities for the automotive turbocharger market.
Technology: Burgeoning utilization of electric turbo for hybrid vehicles
The electric turbo has evolved considerably, providing significant performance and efficiency benefits while minimizing lag. It is often preferred in modern hybrid vehicles with its capacity to generate electricity during deceleration. Single turbo uses one turbocharger to boost the engine capacity. This simple but effective turbocharging technology is prevalent in small to mid-sized engines. Single turbochargers offer significant benefits in terms of cost-efficiency and compactness, making them ideal for vehicles that prioritize daily drivability and fuel economy. A twin-turbo setup utilizes two turbochargers working in parallel or sequentially to amplify engine performance across various operating conditions. The twin-turbo configuration allows engines to rev faster and deliver increased power output with less lag experienced than single-turbo setups. This technology is frequently tapped for performance and luxury vehicles, where power, speed, and drivability are paramount. A variable-geometry turbocharger (VGT) presents an innovative solution, incorporating moving vanes in the turbine housing to adjust the flow of exhaust gases. The ability to manipulate this flow based on engine speed aids in minimizing turbo lag and maximizing efficiency across a wide RPM range. The VGT has become a staple in modern diesel engines due to these benefits, particularly the enhanced drivability at low speeds without sacrificing high-speed effectiveness.
Distribution: OEM offering innovative and more specialized turbochargers
The aftermarket segment in the automotive turbochargers market refers to the distribution and sale of turbochargers as replacement or upgrade parts for existing vehicles. Aftermarket turbochargers are primarily distributed through distributors, retailers, and online platforms. These entities supply a wide range of turbocharger brands and models to meet the diverse needs of vehicle owners and service centers. OEMs represent the distribution channel where turbochargers are directly integrated into new vehicles during the manufacturing process. OEM turbochargers are designed and engineered to complement the specific vehicle’s engine and drivetrain, optimizing performance and fuel efficiency. The aftermarket segment offers a diverse range of turbochargers for replacement and upgrade purposes, catering to the needs of vehicle owners and service centers. On the other hand, OEM distribution channels focus on specialized, vehicle-specific integration, ensuring optimal performance and compliance with automaker standards.
Vehicle: Potential use of automotive turbochargers in commercial vehicles for higher load-carrying capacity and improved fuel efficiency
Commercial vehicles, including trucks, buses, and large-scale vehicles, mainly focus on maximizing operational efficiency, superior torque and enhanced fuel efficiency using turbochargers. Commercial vehicles are often subjected to demanding workloads and various operating conditions, and turbochargers allow them to operate efficiently while meeting performance and emission requirements. The demand for passenger vehicles is more tilted towards increased engine performance and improved fuel economy. Turbochargers are used in passenger vehicles to balance performance, fuel efficiency, and emissions compliance. They enable smaller, more efficient engines to produce the power of larger engines, which is advantageous in a world where environmental concerns, fuel efficiency, and performance are all essential factors in vehicle design and manufacturing.
Operation: Evolving usage of E-turbocharger as it reduces the fuel consumption
The conventional turbocharger is primarily used in the automotive industry to enhance the performance of an engine without significantly increasing its weight. These turbochargers operate by driving extra air into the combustion chamber, resulting in a more considerable amount of fuel burning, which, in turn, enhances the engine performance. The e-turbocharger, on the other hand, is an advanced version that houses an electric motor within the turbocharger mechanism. An e-turbocharger also reduces fuel consumption, as it lessens the load on the engine by using electrical power to spin the compressor, giving a more rapid response and no lag time.
The Americas has a significant landscape in the automotive turbocharger market due to the presence of key automotive manufacturers, advanced technological innovation, and stringent emission control norms. The increased adoption of turbocharger technology in vehicle manufacturing to meet mandatory fuel efficiency standards while maintaining engine performance projects a positive outlook for the turbocharger market in the Americas. The European region showcases increasing demand for automotive turbochargers owing to tightened European Union emission regulations and the need for vehicles to be more eco-friendly, thus necessitating technologies such as turbochargers to achieve fuel efficiency without compromising power output. Key initiatives include investments in electric turbocharging technologies and establishing research centers to further turbocharger development, which has enhanced the market growth in the region. The APAC region is witnessing rapid growth, led by emerging economies, increasing automobile production, and rising disposable income, intensifying the demand for technologically advanced, high-performance, and fuel-efficient vehicles. Furthermore, growing environmental concerns and proposed tighter emission rules in these countries are accelerating the adoption of automotive turbochargers.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Turbocharger Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Turbocharger Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Turbocharger Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Banks Power, BMTS Technology GmbH & Co. KG, BorgWarner, Inc., CARDONE Industries, Inc., Continental AG, Cummins Inc., Eaton Corporation PLC, Exxon Mobil Corporation, Garrett Motion Inc., Hunan Tyen Machinery Co. Ltd., IHI Corporation, IPE Turbo, Mahle GmbH, Mitsubishi Heavy Industries Ltd., Ningbo Motor Industrial Co. Ltd., Precision Turbo and Engine, Robert Bosch GmbH, Rotomaster International, SPA Turbo USA, Turbo Concepts, Turbo Dynamics Ltd., Turbo Energy Ltd., Turbonetics, Inc., and Turbosmart.
Market Segmentation & Coverage:
This research report categorizes the Automotive Turbocharger Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Electric Turbo, Single Turbo, Twin Turbo, and Variable-Geometry Turbo. The Electric Turbo is projected to witness significant market share during forecast period.
Based on Operation, market is studied across Conventional Turbocharger and E-Turbocharger. The Conventional Turbocharger is projected to witness significant market share during forecast period.
Based on Component, market is studied across Compressor, Shaft, and Turbine. The Turbine is projected to witness significant market share during forecast period.
Based on Distribution, market is studied across Aftermarket and OEM. The OEM is projected to witness significant market share during forecast period.
Based on Engine, market is studied across Diesel Engine and Gasoline Engine. The Gasoline Engine is projected to witness significant market share during forecast period.
Based on Vehicle, market is studied across Commercial Vehicle and Passenger Vehicle. The Commercial Vehicle is further studied across Heavy Commercial Vehicle and Light Commercial Vehicle. The Commercial Vehicle is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.28% in 2022, followed by Europe, Middle East & Africa.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Turbocharger Market, by Technology
7. Automotive Turbocharger Market, by Operation
8. Automotive Turbocharger Market, by Component
9. Automotive Turbocharger Market, by Distribution
10. Automotive Turbocharger Market, by Engine
11. Automotive Turbocharger Market, by Vehicle
12. Americas Automotive Turbocharger Market
13. Asia-Pacific Automotive Turbocharger Market
14. Europe, Middle East & Africa Automotive Turbocharger Market
15. Competitive Landscape
16. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Turbocharger Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Turbocharger Market?
3. What is the competitive strategic window for opportunities in the Automotive Turbocharger Market?
4. What are the technology trends and regulatory frameworks in the Automotive Turbocharger Market?
5. What is the market share of the leading vendors in the Automotive Turbocharger Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Turbocharger Market?
The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.