Automotive Turbocharger Market

Introduction of the Automotive Turbocharger Market Report

An automotive turbocharger is a prominent part of internal combustion (IC) engine that improves the performance of the engine by increasing the intake of air in the combustion chamber with the help of ejected burnt air. An internal combustion (IC) engine requires extra air for the combustion of additional fuel in order to generate power that reduces its efficiency and thus, a turbocharger is used to increase the air intake.

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Market Dynamic

Key Drivers and Emerging Trends

The key factors supplementing the growth of the global automotive turbocharger market are improved fuel efficiency and engine performance, favorable government policies, and engine downsizing to decrease the weight of the vehicle. The performance of a vehicle majorly depends upon the engine, which allows manufacturers to develop efficient engines that can cater to both the requirements and provide improved fuel efficiency and engine performance. Moreover, various governments across the globe have taken strong measures to mitigate emissions and reduce the dependency on non-renewable energy resources, which can be decreased by the use of turbochargers. Using a turbocharger decreases the displacement volume of the cylinder, which further reduces the demand of fuel for the same output and hence, reduces the exhaust emissions of the vehicle. There is a rising trend of downsizing the engine due to the growing concern related to the weight of the vehicle. Furthermore, lightweight alloys used in the manufacturing of turbocharger to reduce the consumption of fuel also makes turbochargers compact, which in turn, decreases the size of the engine and overall vehicle. These factors are likely to boost the growth of the global automotive turbocharger market.

Impact of COVID-19 on the Automotive Turbocharger Market

The entire automotive industry is impacted by the widespread outbreak as the COVID-19 pandemic resulted in the halt of manufacturing & assembly plants and the disruption in the exports of the automotive components. For instance, according to the China Association of Automobile Manufacturers, there was a 33% of the decline in passenger car production in the first quarter of 2020. These factors have significantly hindered the growth of the global automotive turbocharger market.

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Fuel Type – Segment Analysis

Based on the fuel type, the gasoline segment is expected to grow at a higher CAGR over the forecast period. The diesel turbocharger segment is matured as most of the commercial vehicles are diesel-powered, which has gradually mitigated the proportion of new registrations, thus rapidly increasing the demand for gasoline turbochargers. There has been a high adoption of turbocharged gasoline direct engine (TGDI) in gasoline vehicles due to the stringent emission norms. These factors are surging the growth of the gasoline segment in the global automotive turbocharger market.

Vehicle Type – Segment Analysis

On the basis of the vehicle type, the passenger vehicles segment is anticipated to grow at a faster CAGR over the forecast period. This is majorly attributed to the increase in stringent government regulations regarding carbon emissions across the globe. For instance, in 2019, the Supreme Court of India announced new Bharat Stage VI (BS-VI) emission norms, which completely banned the sale of vehicles equipped with BS-IV engines. The implementation of such regulations by government has encouraged automakers to incorporate automotive turbochargers in passenger cars and heavy-duty vehicles. These factors are likely to boost the growth of the passenger vehicles segment in the global automotive turbocharger market.

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Region – Segment Analysis

Based on the region, the Asia Pacific region is projected to grow at a higher CAGR during the forecast period. This is mainly attributed to the growing levels of automotive production in countries such as India, China, and Southeast Asian countries. For instance, according to the China Association of Automobile Manufacturer, the production of automobiles including both passenger vehicles and commercial vehicles was around 25 million in 2019. Moreover, the large population base, economic shifts and upcoming emission norms, rising demand for automobiles, high demand for cars equipped with compact engine size, and a burgeoning need for diesel vehicles are some other factors, which are contributing to the growth of the automotive turbocharger market in Asia Pacific. 

Top Market Players

Various notable players operating in the market include Continental AG, Honeywell International Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., BorgWarner Inc., BMTS TECHNOLOGY, IHI Corporation, ABB, Cummins Inc., Magnum Performance Turbos, and TURBO ENERGY PRIVATE LIMITED, among others.

Key Developments

• • In 2019, Continental AG announced the launch of the Ring Catalyst Turbocharger, which is the further development of the RAAX turbocharger and Continental’s ring catalyst technology. This highly integrated combination of catalyst and turbocharger provides additional benefits as compared to separately installing the individual components.
  • In 2019, ABB launched the new A255-L and A260-L turbochargers, which are optimized for small and medium bore two-stroke gas and diesel engines. The compact design of these products allows installation flexibility in modern, space-optimized engine rooms. 

Segments covered in the Report:

The global automotive turbocharger market has been segmented on the basis of vehicle type, fuel type, technology, and regions. Based on vehicle type, the market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on fuel type, the market is segmented into gasoline, diesel, and others. Based on technology, the market is segmented into variable geometry turbocharger (VGT/VNT), wastegate turbocharger, electric turbocharger, twin turbocharger, and others. 

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Key questions answered in this research report:

• • At what pace is global automotive turbocharger market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automotive turbocharger market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive turbocharger market?
  • Which vehicle type generated maximum revenues in 2019 and identify the most promising vehicle type during the forecast period?
  • What are the various fuel type areas of global automotive turbocharger market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Automotive Turbocharger Market by Vehicle Type

• • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Global Automotive Turbocharger Market by Fuel Type

• • Gasoline
  • Diesel
  • Others

Global Automotive Turbocharger Market by Technology

• • Variable Geometry Turbocharger (VGT/VNT)
  • Wastegate Turbocharger
  • Electric Turbocharger
  • Twin Turbocharger
  • Others

Global Automotive Turbocharger Market by Region

• • North America Automotive Turbocharger Market (Option 1: As a part of the free 25% customization)
    • North America Market by Vehicle Type
    • North America Market by Fuel Type
    • North America Market by Technology
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automotive Turbocharger Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Vehicle Type
    • Europe Market by Fuel Type
    • Europe Market by Technology
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automotive Turbocharger Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Vehicle Type
    • Asia-Pacific Market by Fuel Type
    • Asia-Pacific Market by Technology
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automotive Turbocharger Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Vehicle Type
    • RoW Market by Fuel Type
    • RoW Market by Technology
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Turbocharger (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Honeywell International Inc.
  • MITSUBISHI HEAVY INDUSTRIES, LTD.
  • BorgWarner Inc.
  • BMTS TECHNOLOGY
  • IHI Corporation
  • ABB
  • Cummins Inc.
  • Magnum Performance Turbos
  • TURBO ENERGY PRIVATE LIMITED