The Global Market for Automotive Turbochargers is Projected to Reach US$12.2 Billion by 2022

Engineering Emphasis on Engine Downsizing & the Resulting Parallel Focus on Engine Efficiency & Power Output Drives the Global Automotive Turbochargers Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Automotive Turbochargers market. The global market for Automotive Turbochargers is projected to reach US$12.2 billion by 2022, driven by engine downsizing as an engineering measure to achieve fuel efficiency and emission goals and subsequent focus on increasing the engine’s power output for a more efficient vehicle speed performance.  

With the automotive industry being challenged by issues relating to fuel economy and emissions, powertrain and internal combustion engine technologies are expected to evolve in sync with changing design needs. Hybridization/electrification, downsizing, and turbocharging are technologies expected to hit the spotlight in the coming years. Turbocharging especially holds attractive potential, given its ability to meet strict fuel-efficiency standards, and conform to emissions regulations. The growing consumer demand for vehicles that are environment friendly and fuel efficient coupled with mounting government pressure on auto manufacturers to cut down carbon emissions from vehicles, are emerging as primary growth drivers for automotive turbochargers particularly in the OEM sector. Macro market trends positively influencing the market include stable automobile production, and growing preference for cheaper, smaller yet powerful cars. Turbochargers for small cars with two-cylinder and three-cylinder engines will therefore witness strong gains in the market.

While diesel engines primarily utilize turbochargers, gasoline engines in the coming years will emerge as a lucrative market as petrol engine downsizing gains ground. Manufacturers are also focusing on the development of turbochargers for other types of motor vehicles such as natural gas engines and hybrid vehicles. New technology developments will benefit the market through the launch of more efficient turbochargers capable of converting waste heat energy into rotational energy. Growing competition and the need to achieve brand differentiation will continue to encourage auto manufacturers to incorporate fuel efficiency and emission control technologies as value added features for their vehicles, thus creating opportunities for turbochargers in the automotive OEM market.

As stated by the new market research report on Automotive Turbochargers, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with dollar sales forecast to grow at a CAGR of 9.7% over the analysis period led by factors such as emergence of Asia as the global hub for manufacturing automobile components, robust demand for automobiles in countries such as India, China, Thailand and Korea as a result of strong economic performance, rising standards of living, improving disposable income, rise in vehicle ownership and growing demand for affordable turbocharged cars among the newly emerging middle class population.      

Key players covered in the report include BorgWarner Inc., Bosch Mahle Turbo Systems GmbH & Co. KG, Continental AG, Cummins Inc., Honeywell Turbo Technologies, IHI Corporation, Mitsubishi Heavy Industries Ltd., Turbodyne Technologies Inc., and Turbonetics Inc., among others.

The research report titled “Automotive Turbochargers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US$ Million and in Thousand Units  for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.

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