Automotive Turbocharger Market Worth 31.61 Billion USD by 2025
PUNE, India, June 14, 2018 /PRNewswire/ --
According to a new market research report "Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Ice & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region - Global Forecast to 2025", published MarketsandMarkets(TM), the market is estimated to be USD 16.87 billion in 2018 and is projected to reach USD 31.61 billion by 2025, at a CAGR of 9.39%, from 2018 to 2025. The growth of the Automotive Turbocharger Market is influenced by factors such as the increasing production of commercial vehicles where turbochargers are a standard fitment and shift from diesel to gasoline cars owing to emission regulations. Addition to that changing consumer preferences for greater power generating vehicles, increasing use of gasoline turbocharger and stringent emission regulations.
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Browse 105 market data Tables and 59 Figures spread through 163 Pages and in-depth TOC on "Automotive Turbocharger Market"
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VGT/VNT technology is projected to have the largest demand for automotive turbochargers in the near future
VGT/VNT is turbocharger technology facilitates the change of the effective aspect ratio, also called A/R ratio, based on any change in engine speed. The VGT technology has helped to overcome the limitation set by fixed geometry turbocharger (FGT)/wastegate turbocharger in which the effective area between vanes remains the same throughout its working. VGT turbocharger is the widely used technology in Europe and North America as these are the advanced markets in the automotive industry.
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Gasoline turbocharger market is expected to have the fastest growth in Automotive Turbocharger Market
Asia Oceania and North America are the largest markets for gasoline passenger cars. In North America, the trend for diesel did pick up in passenger cars; however, due to the emission scandal and the additional cost required to make diesel cars compliant with stringent emission regulations, gasoline cars regained their popularity. However, the usage of turbochargers in petrol vehicles is a new trend and is fueled by the trends toward increasing fuel economy and reducing emissions. The installation rate of turbochargers in passenger cars is the highest in Europe and North America as strict emission regulations are in place in these regions, and OEMs will have to use turbochargers in order to comply with these regulations. Additionally, over the concerns of increasing fuel economy, OEMs have increased the use of turbochargers in gasoline vehicles. Cumulative effect of all these factors will drive the gasoline Automotive Turbocharger Market.
Asia Oceania is projected to be the largest and the fastest growing Automotive Turbocharger Market
The Asia Oceania market is estimated to account for the largest share, by value, in 2018. The growth is attributed to upcoming emission regulations such as China 6 in China and BS 6 regulation in India. These regulations will increase the demand for fuel-efficient vehicles and, therefore, will lead the Automotive Turbocharger Market in Asia. To achieve these emissions limits, OEMs will have to install turbochargers in vehicles. As Asia Oceania is dominated by small cars production, OEMs are focusing on engine downsizing with turbocharger application.
i) Automotive Turbocharger Market includes manufacturers such as Honeywell (US),
BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).
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