We use cookies for a better user experience. Read our Privacy Policy

I Agree

Global Automotive Turbochargers Market: Saturated Markets to Negatively Impact Leading Players’ Shares, finds TMR

Electronics and Semiconductors |

In a highly consolidated global market for automotive turbochargers, five main players accounted for about 66% of the share in market in 2015. The five main players are Honeywell International Inc., BorgWarner Inc., Cummins, Inc., Mitsubishi Heavy Industries Ltd., and IHI Corporation. They are slated to hold on to their dominant positions in the years ahead as well. However, due to different challenges facing the market and maturating markets in advanced countries, the well-entrenched players may trim some of their market shares, paving the way for new entrants. 

Companies, namely Bosch Mahle Turbo Systems, Continental AG, Eaton Corporation PLC, and Turbo Energy Pvt. Ltd. are forecasted to gain market share steadily in the years to come. A report by Transparency Market research, predicts the overall revenue in the global automotive turbochargers market to clock a healthy CAGR of 10.1% from 2016 to 2024. Expanding at the aforementioned pace, the revenue is expected to become US$20.35 bn by 2024-end from US$8.56 bn in 2015. 

automotive turbochargers market

Thrust on Emission Reduction Fuels Europe Market 

The main three technologies leveraged to manufacture automotive turbochargers are twin turbo, wastegates, and variable geometric technology. Each technology has certain advantages and a few disadvantages as well. Among the three, the variable technology turbochargers dominate the market with maximum share in it. They are embedded with flexible minute vanes. They channelize the air flow of the exhaust along a turbine at various angles. Variable geometry turbocharger technology is predicted to rise at a CAGR of 9.4% between 2016 and 2024. 

Geography-wise, the key segments of the global market for automotive turbochargers are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, Europe leads the market because of the advanced economies following strict rules pertaining to emissions. In 2015, Europe accounted for 38.2% share in the market. However, due to several difficulties involved in the installation of turbochargers in this region, the demand will likely take a beating in the years to come. The market for turbochargers has also become saturated in Europe and is witnessing a shift towards electric and hybrid vehicles. Asia Pacific, is another dominant market when it comes to creating demand and is predicted to retain its position in the years to come as well with manufacturers opting for turbochargers to facilitate higher fuel efficiency and lessen emissions. 

Need for Fuel Efficiency Drives Demand 

The main factor boosting the global market for automotive turbochargers is their use in facilitating fuel efficiency. Explains the lead analyst of TMR, “Making vehicles lighter has always been a highly popular trend in the global automotive turbochargers market. Lighter cars, for instance, hold the advantages of reduced volume of metal, lesser maintenance, better fuel efficiency, and faster speeds. The automotive industry has lately been chasing fuel efficiency targets owing to the growing number of emission restrictions being imposed across the world. Europe, the leading region in the global automotive turbochargers market for 2015, has been especially strict when it comes to controlling fuel consumption and vehicular emissions. This is a definite driver for the global automotive turbochargers market, which has so far been a very efficient method to reduce weight of a vehicle as well as emissions.” 

One factor countering the global market for automotive turbochargers is the rapid unveiling of more evolved versions of electric cars that helps to reduce emissions drastically. Increasing cost of non-renewable fuel which is egging consumers to switch to electric vehicles will likely hamper demand too. 

This review is based on the findings of a TMR report, titled “Automotive Turbochargers Market (Vehicles - HCV, LCV, Passenger Vehicles, Sports Cars, and Off-highway Vehicles; Technologies - Twin Turbo, Variable Geometry Technology, and Wastegate; Fuel - Gasoline and Diesel; End Users - OEMs and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.” 

Key segments of the Global Automotive Turbochargers Market 

Global Automotive Turbochargers Market: By Vehicle Type 

  • Light Commercial Vehicle(LCV)
  • Heavy Commercial Vehicle(HCV)
  • Passenger Vehicles 

Global Automotive Turbochargers Market: By Technology 

  • Twin Turbo
  • Variable Geometry Turbo (VGT)
  • Wastegate Technology 

Global Automotive Turbochargers Market: By Fuel Type 

  • Gasoline
  • Diesel 

Global Automotive Turbochargers Market: By End User 

  • OEMs
  • Aftermarket 

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

Copyright © Transparency Market Research, Inc. All Rights reserved