The automotive turbocharger market is projected to reach USD 19. 2 billion by 2026 from. USD 11. 8 billion in 2021, at a CAGR of 10. 2% during the forecast period. Asia Pacific region is expected to be the largest market.
New York, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Turbocharger Market by Technology, Material, Fuel Type, Application, Vehicle, Aftermarket and Region - Global Forecast to 2026" - https://www.reportlinker.com/p04411875/?utm_source=GNW
The growth can be attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The increased vehicle production and upcoming stringent emission norms in China and India will boost the automotive turbocharger market. Wastegate turbocharger technology is expected to be the largest segment by technology, while electric turbochargers will be the fastest-growing market in the coming years.
Globally, the gasoline segment is expected to be the fastest-growing segment during the forecast period.
The usage of turbochargers in gasoline engines is projected to increase at a high rate owing to the decline in the price of turbocharged gasoline engine technology and new emission regulations. These factors will encourage OEMs to increase the usage of turbochargers in gasoline passenger cars.
Asia Pacific is projected to be the largest regional market
Asia Pacific is the largest producer of passenger cars in the world, owing to the presence of leading automotive manufacturers in the region.Major automobile-producing countries in Asia Pacific are China, Japan, India, and South Korea.
Asia Pacific is also the largest market for automotive turbochargers owing to the stringent emission norms implemented in this region.China VI-a, with its limits lower than Euro VI, was implemented in 2019 for gas engines, and China VI-b is set to be implemented in 2021.
India’s BS-VI norms were implemented in 2020 (skipping BS V norms).
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Tier 1 –70%, Tier 2 – 20% and OEM- 10%
• By Designation: C Level - 40%, D Level- 35%, and Others – 25%
• By Region: Asia Pacific - 20%,Europe – 50%, North America – 25% and RoW – 5%
Garrett Motion Inc. (US), Continental AG (Germany), BorgWarner Inc. (US), Mitsubishi Heavy Industries (Japan), and IHI Corporation (Japan) are the leading manufacturers of automotive turbocharger in the global market.
The automotive turbocharger market is segmented based on by vehicle type (Passenger Cars, LCV, Trucks, and Buses), fuel type (Gasoline, Diesel, and Alternate Fuel/CNG), technology type (Variable Geometry Turbocharger, Wastegate Turbocharger, and Electric Turbocharger), component (Compressor, Turbine, and Housing), Aftermarket, by vehicle type (LCV and HCV), Off-highway automotive turbocharger market, by application (Agriculture Tractors, Construction Equipment), material (Cast Iron, Aluminum, Others), and region (Asia Pacific, Europe, North America, and RoW).
The study also includes an in-depth competitive analysis of the major automotive turbocharger manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall automotive turbocharger market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the market’s pulse and provides them information on key market drivers, restraints, challenges, and opportunities.
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