New York, June 03, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Automotive Turbocharger Market, By Vehicle Type, By Engine Type, By Technology Type, By Operation Type, By Region, Competition, Forecast & Opportunities, 2026” – https://www.reportlinker.com/p06089442/?utm_source=GNW
Global automotive turbocharger market is expected to grow from USD12.04 billion in 2020 to USD18.61 billion with a CAGR of 6.82% by 2026 because of the implementation of government regulations for emission control and increase in demand for fuel efficient vehicles. Many governments across the globe have taken strong actions to decrease emissions and dependence on non-renewable energy resources. Turbocharger helps significantly in lowering vehicular emissions. Using a turbocharger lowers the displacement volume of the cylinder, reducing the volume of the fuel needed for the same output, and thereby decreasing the exhaust emissions of the vehicle. It also improves fuel efficiency, and it is because of these reasons the push for the implementation of turbocharger technology has strengthened. Also, the demand for fuel efficient vehicles is increasing because of hike in the price of gasoline and diesel in the international market.
The turbocharger is a turbine-driven, forced induction device that increases an internal combustion engine’s power output by forcing extra compressed air into the combustion chamber.The turbocharger was first introduced in diesel engines for the purpose of increasing fuel efficiency, reducing emissions, and increasing higher power output.
After gaining success in diesel engines, turbochargers were introduced in gasoline engines for increasing the fuel efficiency of the vehicle. Due to a huge success in both the type of fuel engines, the demand for turbocharger-based engine vehicles is increasing rapidly.
Global automotive turbocharger market can be segmented based on vehicle type, engine type, technology type, and operation type.On the basis of vehicle type, the market can be classified into passenger car, light commercial vehicle and heavy commercial vehicle.
In the vehicle type, passenger car has the majority of share because of a greater number of sale and increasing demand for high performance cars.In the forecast period, it is expected that passenger cars will be high in demand hence the turbochargers will be sold more in passenger cars than light commercial and heavy commercial vehicle.
In terms of engine type, gasoline is dominating the automotive turbocharger market with more than half of the share and this trend is expected to continue in the forecast period as well.In the technology segment, wastegate has more than one third of the total share in the automotive turbocharger market.
In forecast period, the share of wastegate is expected to reach more than half of the total market share. By operation type segment, conventional turbocharger is dominating the market but in forecast period e- turbocharger is expected to grow at a higher CAGR than conventional turbocharger.
Regionally, the market of automotive turbocharger is more in Asia-Pacific, i.e., about half of total market share, followed by Europe and North America. In the forecast period, the trend is expected to be the same as 2020 with small changes in shares.
Major players operating in global automotive turbocharger market are Garret Motion Inc. BorgWarner Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd., Bosch Mahle Turbosystems GmbH , Cummins Turbo Technologies, Inc., Magnum Performance Turbos Inc. Key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisition and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2021-2026
Objective of the Study:
• To analyze the historical growth in the market size of the global automotive turbocharger market from 2016 to 2020.
• To estimate and forecast the market size of global automotive turbocharger market from 2021 to 2026 and growth rate until 2026.
• To identify dominant region or segment in the global automotive turbocharger Market.
• To identify drivers and challenges for global automotive turbocharger market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive turbocharger market.
• To conduct pricing analysis for global automotive turbocharger market.
• To identify and analyze the profile of leading players operating in global automotive turbocharger market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated the market size of global automotive turbocharger market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Original equipment manufacturers, suppliers and other stakeholders
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to automotive turbochargers
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global automotive turbocharger market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Global Automotive Turbocharger Market, By Vehicle Type:
o Passenger car
o Light Commercial Vehicle
o Heavy Commercial Vehicle
• Global Automotive Turbocharger Market, By Engine Type:
• Global Automotive Turbocharger Market, By Technology Type:
o Electric Turbocharger
• Global Automotive Turbocharger Market, By Operation Type:
o Conventional Turbocharger
o E- Turbocharger
• Global Automotive Turbocharger Market, By Region:
o North America
o South America
o Middle East & Africa
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089442/?utm_source=GNW
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