The global automotive turbocharger market size is expected to grow from $12.23 billion in 2021 to $13.14 billion in 2022 at a compound annual growth rate (CAGR) of 7.41%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive turbochargers market size is expected to reach $17.78 billion in 2026 at a CAGR of 7.85%.
What is the Global Automotive Turbochargers Market?
The automotive turbocharger market consists of sales of automotive turbochargers by entities (organizations, sole traders, and partnerships) that refer to a turbine-driven, forced induction device that increases an internal combustion engine's power output, which is done by forcing extra compressed air into the combustion chamber. Automotive turbochargers are used to improve an engine’s efficiency by increasing the density of the intake gas, thereby allowing more power per engine cycle.
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What drives the Global Automotive Turbochargers Market?
The increasing demand for passenger cars is driving the growth of the automotive turbocharger market. Turbocharged engines generally have greater power density and high fuel efficiency, while allowing more horsepower and torque. The increase in purchasing power and low-interest rates in developing economies, along with consumer preference towards personal mobility, is expected to drive the demand for passenger cars, thus increasing demand for automotive turbochargers. For instance, the global passenger car market is expected to grow from $1,321.7 billion in 2020 to $1,988.7 billion by 2025.
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Global Automotive Turbochargers Market Segments
The global automotive turbochargers market is segmented:
By Vehicle Type: PCV, LCV, HCV
By Technology: VGT/VNT, Wastegate, Twin-Turbo
By Sales Channel: OEM, Aftermarket
By Fuel Type: Gasoline, Diesel
By Geography: The regions covered in the automotive turbochargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Turbochargers Global Market Report 2022provides market size and growth forecasts for the global automotive turbochargers market, global automotive turbochargers market share, automotive turbochargers market segments and geographies, automotive turbochargers market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive turbochargers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Turbochargers Industry Playersinclude Honeywell, BorgWarner, Mitsubishi Heavy Industries, Ltd., IHI, Continental, Bosch, Mahle, Cummins, Delphi Technologies, Precision Turbo & Engine, INC, Turbonetics, Turbo International, ABB Turbo Systems Ltd., TEL, Rotomaster International, Fuyuan Turbocharger Co., Ltd., and Hunan Tyen Machinery Co., Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
