Global Automotive Turbochargers Market Outlook, Opportunities And Strategies – Includes Automotive Turbochargers Market Trends
Learn about the global automotive turbochargers market through The Business Research Company, which provides information on automotive turbochargers market size, automotive turbochargers market drivers and restraints, automotive turbochargers market players, the COVID-19 impact on the automotive turbochargers market, and more.
The global automotive turbocharger market size is expected to grow from $12.23 billion in 2021 to $13.14 billion in 2022 at a compound annual growth rate (CAGR) of 7.41%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive turbochargers market size is expected to reach $17.78 billion in 2026 at a CAGR of 7.85%.
The increasing demand for passenger cars is driving the growth of the automotive turbocharger market.
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The automotive turbocharger market consists of sales of automotive turbochargers by entities (organizations, sole traders, and partnerships) that refer to a turbine-driven, forced induction device that increases an internal combustion engine’s power output, which is done by forcing extra compressed air into the combustion chamber. Automotive turbochargers are used to improve an engine’s efficiency by increasing the density of the intake gas, thereby allowing more power per engine cycle.
Global Automotive Turbochargers Market Segments Include:
By Vehicle Type: PCV, LCV, HCV
By Technology: VGT/VNT, Wastegate, Twin-Turbo
By Sales Channel: OEM, Aftermarket
By Fuel Type: Gasoline, Diesel
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the automotive turbocharger market in 2021.
Companies in the automotive turbocharger market are focusing on the development of electric turbochargers for applications in both light and commercial vehicles, in all fuels such as gasoline, diesel, and natural gas (CNG). Electrically assisted turbochargers can be used not just to drive the turbocharger shaft but also to break the vehicle.
Major Market Players: Honeywell, BorgWarner, Mitsubishi Heavy Industries, Ltd., IHI, Continental, Bosch, Mahle, Cummins, Delphi Technologies, Precision Turbo & Engine, INC, Turbonetics, Turbo International, ABB Turbo Systems Ltd., TEL, Rotomaster International, Fuyuan Turbocharger Co., Ltd., and Hunan Tyen Machinery Co., Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Automotive Turbochargers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides automotive turbochargers market overviews, analyzes and forecasts market size, share, automotive turbochargers market players, automotive turbochargers market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s automotive turbochargers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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