Turbocharger Market Overview :
Global Turbocharger Market is estimated to reach $28.1 Billion by 2025; growing at a CAGR of 12.3% from 2017 to 2025. Turbochargers provide high efficiency, robustness, reliability, and compact packaging in heavy duty vehicles. Turbocharger also offer several key benefits in heavy duty vehicle engine such as more power, improved output, and greater fuel efficiency, which necessitates the higher demand of turbochargers in heavy duty vehicle segment. Turbochargers are believed to be the most significant automotive equipment in present time not only to boost but to intensify the efficiency of the engines in terms of power and output. They are utilized by various vehicle manufacturers and also by the companies operating in aftermarket individual customers. In addition, increase in purchasing power of consumers and customization performance offered by turbocharger petrol engine have fueled the growth of the turbocharger in respect to OEM market.
The growth of the global turbocharger market is driven by rise in demand for fuel efficient and downsized engine, increasing government investment in construction projects, and modernization of agricultural sector. However, high cost of turbochargers as compared to traditional chargers is the major challenge for the market. Moreover, enhanced performance of gasoline engine, which utilizes twin-turbo technology has led automakers to include turbochargers in their vehicles, thereby providing huge opportunity for the growth of turbocharger market.
The market is segmented on the basis of technology, fuel type, end-user, application, industry verticals and geography. The technology segment is classified into twin turbo technology, wastegate technology, and variable geometry technology. On the basis of fuel type, turbocharger market is classified as gasoline and diesel. The end-user segment includes OEM and aftermarket. On the basis of application, the market is classified as light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotive. The report also analyses various industry verticals that include aerospace & defense, automotive, marine, and agriculture & construction.
Based on geography, the global turbocharger market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is bifurcated into the U.S., Canada and Mexico, whereas Europe region has been further segmented into UK, Germany, France, Spain and Rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan, South Korea, and Rest of Asia Pacific. Rest of the World (RoW) includes South America, Middle East and Africa.
Key players profiled in the report include Honeywell International Inc., IHI Corporation, Borg Warner Inc., Rotomaster International, Cummins Inc., Mitsubishi Heavy Industries Ltd., Eaton Corporation PLC, Continental AG, Precision Turbo & Engine, and Bosch Mahle Turbo System GmbH & Co. KG, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Turbocharger Market with respect to major segments such as technology, fuel type, end-user, application, and industry verticals
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Turbocharger Market has been included in the report
- Profile of the key players in the Global Turbocharger Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Turbocharger Market
- Twin Turbo Technology
- Wastegate Technology
- Variable Geometry Technology
Fuel Type Segments
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Ships & Aircraft
- Heavy Duty Vehicles
Industry Verticals Segments
- Aerospace & Defense
- Agriculture & Construction
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East