Turbocharger Market (By Fuel Type: Diesel, Gasoline; By Vehicle type: Passenger vehicle, Light Duty Vehicle, Medium & Heavy Duty Vehicle, Off-Highway Vehicles; By Technology: Twin-turbo Technology, Wastegate Technology, Variable Geometry Technology (VGT); By End-User: Original Equipment Manufacturer (OEMs), Aftermarket) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global turbocharger market is expected to grow at a CAGR of around 5.9% from 2020 to 2027 and poised to reach the market value of around US$ 25,887.0 Mn by 2027.

A turbocharger or “turbo” is a turbine-driven forced induction device used to improve the engine's volumetric efficiency by increasing the density of the intake gas to allow more power per engine cycle. Basically, it’s a device particularly used to supercharge an engine. The turbocharger is an integral part of the internal combustion (IC) engine and considered as the most important automotive accessories nowadays.

Market Dynamics

The benefits associated with the turbocharger, such as optimum engine performance, enhanced fuel efficiency, and suitability in high engine speed is driving the market value. The rising imposition of automotive emission regulations particularly to encourage cleaner and low-emission vehicle usage is supporting the market value. Manufacturers are employing turbochargers in engines of fast racing cars to generate a high amount of power even under harsh and high-temperature conditions is further propelling the market growth. Moreover, the increasing installation of turbochargers in gasoline engines to keep internal combustion (IC) engines cleaner is projected to provide potential opportunities over the estimated period.

On the flip side, an excessive rise in engine temperature, owing to the overheating issues associated with the turbochargers and increasing electric vehicle market is likely to hamper the growth during the forecast timeframe.

Diesel segment accounted for the major share in the market

By fuel type, the diesel segment is leading the market with a major share in terms of value. The dependency of the transportation industry on diesel engines, particularly for heavy-duty performances is primarily supporting the market value. The rapid industrialization has fueled the demand for commercial or heavy-duty vehicles are supporting the market value. Moreover, the gasoline segment is anticipated to exhibit the fastest growth over the forecast period from 2020 to 2027.

OEMs segment accounted for the major share in the market

By end-user, original equipment manufacturers (OEMs) are leading the market with major share in terms of value. The stringent regulatory norms on emission are leading to the incorporation of the downsizing engine by the OEMs for the majority of new vehicles.

The market research study on “Turbocharger Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Turbocharger market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Turbocharger market, its fuel type, vehicle type, technology, end-user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global turbocharger market size and volume, and segment markets by fuel type, vehicle type, technology, end-user, and geography along with the information on companies operating in the market. The turbocharger market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

Asia Pacific region is projected to experience fastest growth over the estimated period

In 2019, Asia Pacific accounted for the major share and the region is also projected to continue with the fastest rate over the forecast period from 2020 to 2027. The region is particularly gaining growth on account of increasing vehicle production as well as demand. The developing economies like China and India are supporting the market value. Major manufacturers are investing in the regional market owing to the high purchasing power of people coupled with the expanding automotive sector.

The players profiled in the report include BorgWarner Inc., Continental AG, Cummins Inc., EATON Corporation, Honeywell International Corporation, IHI Corporation, Mitsubishi Heavy Industries, Precision Turbo & Engine, Rotomaster International and Turbo Dynamics Ltd.

Market Segmentation

Market By Fuel Type

• Diesel
• Gasoline

Market By Vehicle type

• Passenger vehicle
• Light Duty Vehicle
• Medium & Heavy Duty Vehicle
• Off-Highway Vehicles

Market By Technology

• Twin-turbo Technology
• Wastegate Technology
• Variable Geometry Technology (VGT)

Market By End-User

• Original Equipment Manufacturer (OEMs)
• Aftermarket

Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa