A new market study, titled “Discover Global Automotive Turbocharger Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Automotive Turbocharger 2020
The number of motor vehicles is increasing, and so is the latest innovation related to the industry. According to statistics, there were around 35 million turbocharged vehicles in 2015. Turbochargers apply a similar principle like a normal piston engine where it uses exhaust gas to drive the turbine. The air compressor spins and extra oxygen pushes into the cylinder. As a result, more fuel burns in the given time.
The turbocharger can be used in a business vehicle, passenger vehicle, and excessive responsibility automobiles. The turbocharger completes 1,50,000 rotations in a minute, which is 30 times quicker than a normal engine. Some experts suggest that a turbocharger potentially reduces the lifespan of the engine. However, a properly implemented turbo engine will have a far lesser impact on the engine while it helps to provide improved performance.
The global market is increasingly adopting the turbocharger technology due to its high efficiency and improved performance. The industry is expected to show a high Compound Annual Growth Rate (CAGR) during the forecast period.
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Market Segmentation of Global Automotive Turbocharger Market
The global Automotive Turbocharger market can be segmented on the basis of Turbocharger type, Technology, Engine Type, Vehicle Type, Sales Channel, and Regions.
On the basis of the Turbocharger type, the market can be segmented into Axial flow turbocharger, Exhaust gas turbocharger, and Radial flow turbocharger.
By Technology Type, the Automotive Turbocharger industry can be divided into Wastegate, Variable geometry turbocharger, Twin turbocharger, and others.
According to Engine Type, the market is segmented into the Gasoline engine and Diesel engine.
By Vehicle Type, the industry is segmented into Passenger Car, Heavy-duty vehicle, and Commercial vehicle.
On the basis of the Sales Channel, the Automotive Turbocharger industry is divided into OEM and Aftermarket.
Key market segments covered
BY TURBOCHARGER TYPE
- Exhaust gas turbocharger
- Axial flow turbocharger
- Radial flow turbocharger
BY TECHNOLOGY TYPE
- Variable geometry turbocharger
- Waste gate
- Twin turbocharger
BY ENGINE TYPE
- Diesel engine
- Gasoline engine
BY VEHICLE TYPE
- Passenger car
- Commercial vehicle
- Heavy duty vehicle
BY SALES CHANNEL
- Asia Pacific
- North America
- South America
- Rest of the World
Geographical Market Segmentation of Global Automotive Turbocharger Market
The global segmentation of Automotive Turbocharger includes regions like Europe, Indo Pacific, Latin & Central America, North America, and the Middle East and African region.
Some of the focused countries are Australia, Brazil, China, India, Japan, Russia, UAE, Turkey, UAE, the UK, the USA, Algeria, Angola, Argentina, India, China, Ukraine, Venezuela, and Vietnam.
North American and Europe are doing exceptionally well in the industry. Europe is adopting turbocharger primarily in light, and commercial vehicles, and approximately 70% of the total light and commercial vehicles are already covered under this.
Government initiatives are helping the United States to expand its industry and, ultimately, the market share. The Indo Pacific is anticipated to show a good compound annual growth rate during the forecast period owing to the increasing motor vehicle adaptation and growing innovation in terms of technology.
Current Happenings from the Automotive Turbocharger Market
On a recent development, Garrett motion showcased first of its kind electric turbocharger at International Motor Show-2019 at Frankfurt. This is the first instance when an electric turbocharger is introduced for the mass-market. The company said that it is expecting the commercial release date somewhere in the first quarter of 2021. The company also introduced turbo technology for diesel, gasoline and hybrid type vehicles. It introduced a new software application that will connect multiple vehicles.
The automotive industry is diverse and ranges from OEMs and component manufacturers to commercial vehicle manufacturers and dealerships. The industry has the growth potential from the booming domestic and manufacturing markets in Russia, Brazil, China, and India, and other developing economies, to R&D of greener vehicle and fuels. The revenue for the automotive industry is likely to accelerate due to the improved economic conditions. The industry demand has also been lifted by improvements made on the technological front, in terms of entertainment and autonomous driving capabilities, and fuel efficiency. Manufacturers are highly emphasizing on increasing fuel efficiency due to consumer demand and strict government norms. With improved internet connectivity, better navigation systems, and advancements in safety features, the industry is gaining impetus.
Table of Contents
- GLOBAL AUTOMOTIVE TURBOCHARGER MARKET-SCOPE AND METHODOLOGY
- GLOBAL AUTOMOTIVE TURBOCHARGER MARKET –TRENDS AND DEVELOPMENTS
- INDUSTRY ANALYSIS
- GLOBAL AUTOMOTIVE TURBOCHARGER MARKET SEGMENTATION BY PRODUCT
- GLOBAL AUTOMOTIVE TURBOCHARGER MARKET – BY GEOGRAPHY
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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