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Automotive Turbocharger Market By Type (gasoline, diesel, and new energy engine); By technology (passenger car and commercial vehicle segments); By Technology (VNT/VGT, Wastegate, Electric, Twin-turbo, Free-floating and Double Axle) and Region-Analysis of Market Size, Share and Trends for 2014-2019 and Forecasts to 2030.
Automotive Turbocharger market registered a growth of USD 14 billion in 2021 and is expected to register a growth of USD 30.1 billion in the forecast period 2030 and grow at a CAGR of 8.90 % till 2030.
Automotive turbochargers are an integral part of an integral combustion engine which are turbine-driven and amplify the efficiency of the vehicle. These devices are installed into a vehicle to direct more fuel into the combustion chamber to keep up with the desired output in case the atmospheric pressure fails. Turbochargers are also used by manufacturers to keep the fossil fuel engines cleaner. They do not require any power source to operate and work best with high-speed engines. The turbochargers provide various benefits and fewer technical challenges, they require less maintenance as well as cooling oil requirements which acts as a factor for the increasing market growth.
Automotive Turbocharger market is expected to project a CAGR of 8.90% during the forecast period, 2021-2030
Improved engine performance, fuel efficiency, and government regulations are to increase the market growth for automotive turbochargers. Increased demand for fuel-efficient engines as well as gasoline engines is also expected to spur the growth of the market. The turbochargers provide various benefits and fewer technical challenges, they require less maintenance as well as cooling oil requirements which is another factor for the increasing market growth.
The Gasoline Engine segment to grow with the highest CAGR of XX% from 2020-to 2030
By type, the market is segmented into gasoline, diesel, and new energy engine. The gasoline engine segment is to hold the largest market share due to the increased demand for petrol engine turbochargers from passenger cars.
The Passenger Car segment to grow with the highest CAGR of XX% from 2020-to 2030
By application, it can be classified into passenger car and commercial vehicle segments. The passenger car segment dominated the market due to the high demand for passenger cars and the emergence of new auto manufacturers in the world.
The wastegate segment to grow with the highest CAGR of XX% during 2020-2030
By technology, it is divided into VNT/VGT, Wastegate, Electric, Twin-turbo, Free-floating, and Double Axle. The wastegate technology is expected to hold the highest CAGR due to its economical feature as well as better efficiency and new emission regulations by countries.
Fuel efficiency as well as government regulations to increase growth
Improved engine performance, fuel efficiency, and government regulations are to increase the market growth for automotive turbochargers. Increased demand for fuel-efficient engines as well as gasoline engines is also expected to spur the growth of the market. The turbochargers provide various benefits and fewer technical challenges, they require less maintenance as well as cooling oil requirements which is another factor for the increasing market growth.
High installation costs and rising oil prices hamper the market growth
A rise in shared mobility, increasing oil prices, as well as awareness about electric vehicles, are major factors that hamper the growth of the automotive turbocharger market. High installation charges and a significant rise in the temperature of engines due to overheating also negatively impact the market.
Europe is expected to dominate the regional segment due to the emissions and fuel-efficient forms of the government which is, in turn, accelerating growth.APAC is likely to have high growth during the forecasted period due to the emergence of new opportunities, improvements in automotive and rising disposable income, and economic growth in the developing countries of the region. Improved engine performance, fuel efficiency, and government regulations are to increase the market growth for automotive turbochargers in this region.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Automotive Turbocharger Market size was estimated at USD 14 billion in 2021 and is expected to reach USD 30.1 billion by 2030
Honeywell, BorgWarner, MHI, IHI, Continental, Bosch Mahle, Cummins, ABB, TEL, Other Prominent Players
The Gasoline Engine segment and The Passenger Car segment are anticipated to hold the Automotive Turbocharger Market
Fuel efficiency as well as government regulations to increase growth
Automotive turbochargers are an integral part of an integral combustion engine which are turbine-driven and amplify the efficiency of the vehicle. These devices are installed into a vehicle to direct more fuel into the combustion chamber to keep up with the desired output in case the atmospheric pressure fails.
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