General

Automotive turbocharger sales reach $23.28 billion by 2031, driven by growing demand for fuel-efficient solutions

Accelerated car sales to boost automotive turbocharger demand at a CAGR of 7.6% through 2031

In the latest study, Fact.MR provides a detailed analysis of the global Highlight key trends and opportunities during the assessment period. The report reveals leading factors such as recent developments, challenges and drivers impacting the growth in the market across multiple segments including technology, material, engine type, vehicle and sales channel.

NEW YORKJune 1, 2022 /PRNewswire/ — Reaching the global automotive turbocharger market US$11.2 billion in 2021. Sales of automotive turbochargers are expected to increase chance of US$23.28 billion by the end of 2031growing at a robust CAGR of 7.6% during the forecast period 2022-2031.

In recent years, there has been a significant increase in production and sales of automobiles such as passenger cars, SUVs, off-road cars, sports cars and others all over the world, creating a strong demand for automobiles. components.

According to a study by the International Energy Agency, approximately 35 million SUVs were reportedly sold in the year 2021, accounting for nearly 45% of total passenger car sales. As automotive turbochargers are used in these high-performance vehicles to increase acceleration and speed, the growing sales of such cars are expected to create profitable opportunities in the global market.

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Governments and numerous environmental protection organizations implement various regulations regarding emission control. Turbochargers help the automotive industry players comply with regulatory rules and standards for the emission of gases such as carbon dioxide and other pollutants. As a result, these turbine-driven induction devices are gaining immense popularity in the automotive industry, which in turn is expected to boost the sales of automotive turbochargers in the global market.

Key learning points:

  • The US market is expected to hold a leading share in the North America market, due to the implementation of emission-related regulations in the country.
  • Sales of automotive turbochargers are estimated to grow at a robust CAGR, reflecting the Europe market to account for nearly 50% of global revenue share by 2022.
  • India is expected to grow into a highly lucrative automotive turbocharger market, driven by the increasing sales of automobiles in the country.
  • The twin-turbo segment is estimated to remain highly sought after in technology, accounting for a revenue share of approximately 25% in 2020.
  • Based on the engine type, the petrol engine segment is expected to account for a significant share of the market, growing at 8.7% through 2031.

Growth Factors:

  • Increasing auto racing events and increasing consumer spending on recreational off-road activities in countries such as the US, Germanythe UAE, Omanand others are expected to increase sales of automotive turbochargers.
  • The increasing adoption of twin-turbo technologies in new SUVs, thanks to its ability to reduce turbo lag and improve acceleration, is estimated to drive growth in the twin-turbo segment.

limits:

  • Rising adoption of electric vehicles Rising fuel prices and increasing regulations on carbon emissions are hampering the demand for automotive turbochargers.
  • The high cost of diesel engines and the implementation of strict standards regarding the use of diesel-powered vehicles is estimated to hold back the sales of automotive turbochargers in the diesel engine segment.

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Competitive landscape:

Automotive turbocharger manufacturers strive to enter into cooperation, partnership, agreement and others to improve production automation processes and adopt unique production procedures. Some of the major companies are focused on launching new turbochargers with high performance and reliability under high temperatures and pressures.

For example,

  • In 2020, Cummins Inc., an American multinational auto parts designer and manufacturer, announced the launch of a new seventh-generation 400 Series Variable Geometry Turbocharger (VGT), which provides the best fuel-saving assistance engine manufacturers in their class offer to meet the new emission standards.

Key companies profiled by Fact.MR

  • BorgWarner Inc.
  • Continental AG
  • Garrett Motion Inc.
  • Eaton Corporation PLC
  • Honeywell International Inc.
  • Mitsubishi Heavy Industries Ltd.
  • Precision Turbo & Engine Inc.
  • Rotomaster International
  • THE TURBO ENGINEERS GmbH

More valuable insights on Automotive Turbocharger Market

Fact.MR offers a detailed analysis of the global turbocharger market in its latest study. It also provides essential insights into the latest trends and upcoming opportunities impacting automotive turbocharger sales during the forecast period. It also reveals critical forecast data for the Automotive Turbocharger market through detailed segmentation as follows:

Technology:

    • Twin Turbo
    • Variable Geometry Turbo
    • wastegate
    • Electric

Material:

    • Cast Iron Automotive Turbochargers
    • Aluminum Automotive Turbochargers
    • others

Engine type:

    • Petrol Automotive Turbochargers
    • Diesel Car Turbochargers
    • Others (hybrid)

Operation:

    • Conventional Turbochargers
    • E-Turbo Chargers

Vehicle:

    • Passenger vehicles
      • hatchbacks
      • sedans
      • Commercial vehicles
    • Light Commercial Vehicles
    • trucks
    • Buses & Coaches
    • Off road vehicles
      • Farm Tractors and Equipment
      • Construction & Mining Equipment
    • Industrial vehicles (forklift, etc.)

Sales channel:

Region:

    • North America Automotive Turbochargers Market:
    • Europe Automotive Turbocharger Market:
    • Asia-Pacific Automotive Turbocharger Market:
    • Latin America Automotive Turbochargers Market:
    • Middle East & Africa Automotive Turbocharger Market

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Important questions addressed in the Automotive Turbocharger Market report

  • What is the estimated revenue of the Automotive Turbocharger market during the forecast period?
  • What Challenges Does the Automotive Turbocharger Market Face?
  • Which region is estimated to witness the fastest growth in the global Automotive Turbocharger market during the 2022-2031 period?
  • What is the projected market value of the Automotive Turbocharger market in 2022?
  • What are the factors driving the automotive turbocharger in 2022-2031?
  • What is the projected growth rate of the Automotive Turbocharger market to 2031?

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