Automotive Turbocharger Market 2020 | Business Growth along with Global Size, Share, Industry Trends, Key Drivers, Covid-19 Crisis, Major Manufactures, Profit Insights and Regional Forecast till 2023
Research Reports
Dec 29, 2020
Turbocharger Global Market Size – Overview:
The Global Automotive Turbocharger Market is growing with the rapid pace. According to a recent study report published by the Market Size Research Future, The global Market Size of Turbocharger will grow at a rapid pace over the forecast period. The Market Size is forecasted to witness slow but steady growth by 2022, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2022).
Turbocharger is a type of forced induction system which increases an internal combustion engine’s power output and efficiency by forcing air into the combustion chamber. Stringent environmental regulations, increasing trend for opting better fuel economy and to enhance the engine performance will boost the demand for the turbocharger, as the turbocharger are more fuel efficient and improves the power of the automotive engine. Increasing demand for power generating automobile, need for fuel efficient engines will drive the passenger car segment of vehicle type and will have significant impact on the Automotive Turbocharger Market
Request for Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1835
Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of large pool of population is shifting their preference towards electric vehicles. In the last 3 to 4 years, the demand for electric vehicles in the United States is rapidly increasing and seen around 70% of year-over-year growth in the Market Size. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per the Market Size statistics, every third of new car is electric and also the country has the highest proportion of 6.4% worldwide followed by Sweden i.e. 3.4%. The growth of electric vehicles is increasing across the globe and since 2014, the Market Size have been doubled. As of 2016, near about 777,500 electric vehicles have been sold worldwide.
The growing demand for electric vehicles combined with rising fuel prices are expected to adversely impact the Automotive Turbocharger market
The major factor that has been a restraint for the Turbocharger is the government regulations over its certification. The Turbocharger needs to clear all the certification process led by government and transportation department. However, several manufacturers face various difficulties in getting NOCs from these departments. Moreover, the manufacturers need to obtain these certificates to sell or export their products to other countries such as US’s DOT, China’s CCC, Brazil’s INMETRO, Japan’s JAS, India’s RTO. Therefore, owing to this factors, the Market Size has faced various challenges that could obstruct the Market Size growth
There exists a rapidly rising demand for fuel efficient vehicle in the across the globe. With manufacturers focusing on development of lightweight components for automobiles specifically the increasing usage of carbon fibre and other lightweight material in order to enhance a vehicles fuel efficiency the Market Size for Turbocharger is set to witness a steep increase in demand. The Turbochargers are mainly tasked with efficient fuel delivery for combustion, development of fuel efficient vehicles will push the demand in the Market Size for Turbochargers during the forecast period.
On the other hand stringent government policies in the form of emission taxes and penalties and overall growing awareness regarding the environment is expected aid the growth of Turbochargers. With manufacturers investing in development of high performing fuel injection pumps to be integrated in vehicles to reduce emissions the Market Size is poised for rapid growth during the forecast period.
Industry Major Key Players
Honeywell International Inc., Borgwarner Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd., Cummins Inc., Continental AG, Eaton Corporation PLC, Bosch Mahle Turbo Systems GmbH & Co. Kg, Turbo Energy Private Limited, and Rotomaster International and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Turbocharger Market
Industry/ Innovation/ Related News:
March, 2011 – Honeywell announced that it will invest in a new turbocharger manufacturing facility in Presov, Slovakia. The new plant will initially produce turbochargers for light vehicle and light vehicle commercial vehicle applications and is expected to be operational by 2012. The new Slovakia facility will supplement Honeywell’s global footprint and address the rapid increase in turbo adoption around the world. Honeywell expects global vehicle production to increase in 2011 and beyond, and the turbocharger segment is expected to grow by more than two million vehicles this year alone
September, 2014– Honeywell Turbo Technologies, the leading global developer of automotive turbochargers, released its Global Turbo Forecast that estimates the industry will generate $12 billion in by equipping 49 million vehicles with turbochargers annually by 2019. The continued growth of turbocharging technologies will be driven by requirements for manufacturers to meet global environmental emissions regulations and bolstered by strong demand in emerging Market Sizes.
March, 2015 – Cummins Turbo Technologies, a global engineering leader in turbocharger technology, officially launched its new Two-Stage turbocharger powering the 2016 Nissan TITAN XD at the Mid-America Trucking Show (MATS). The next generation Two-Stage System with Rotary Turbine Control (RTC) is Cummins’ most sophisticated turbocharger to date, delivering high efficiency, excellent driveability and low emissions levels.
Automotive Turbocharger Market – Segmentation
The Global Automotive Turbocharger Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Vehicle Type: Comprises Passenger Car, LCV, HCV, Agricultural Tractor and Construction Equipment.
Segmentation by Technology : Comprises Variable Geometry Turbocharger (VGT)/ Variable Nozzle Turbocharger (VNT), Waste gate, and Others
Segmentation by Fuel Type: Comprises Variable Gasoline and Diesel
Segmentation by Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Automotive Turbocharger Sales: Regional Analysis
Asia-Pacific is expected to dominate the Automotive Turbocharger Market in the forecast period and is followed by North America and Europe. Increasing usage of vehicles, increasing need for power efficient passenger & commercial vehicles, high demand for fuel efficient engines in the economically emerging countries like China and India will drive the Market Size of turbocharger in the Asia-Pacific region.
Access Complete Report @ https://www.marketresearchfuture.com/reports/turbocharger-market-1835
Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by?
- How are the key players in this market?
- What are the strategies adopted by key players?
Table Of Contents
- Executive Summary
- Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
- Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
- Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Tags:
, Reportedtimes, iCN Internal Distribution, Research Newswire, English
YOU MAY ALSO LIKE
PW Consulting Releases Comprehensive Market Research on…
Turbocharger Global Market Size – Overview: The Global Automotive Turbocharger Market is growing with the rapid pace. According to a recent study report published by…
read more