SELBYVILLE, Del. - March 30, 2020 - (Newswire.com)
According to the latest report, “Automotive Turbocharger Market by Vehicle (PCV, LCV, HCV), Technology (VGT/VNT, Wastegate, Twin Turbo), Fuel (Gasoline, Diesel), Distribution Channel (OEM, Aftermarket), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of automotive turbochargers will cross $27 billion by 2026.
The automotive turbocharger market growth is attributed to steadily rising demand for fuel-efficient engines in heavy-duty, light-duty, and passenger vehicles. Turbochargers in vehicle engines are aiding heavy-duty vehicle manufacturers to effectively reduce harmful emissions and offer enhanced power output.
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The demand for turbocharger systems is increasing in light commercial vehicles to improve their power and fuel efficiency. Several LCV manufacturers are integrating these systems to vehicles to cater to the increasing consumer demand for high-performance trucks and vans, fueling the market size.
Growing demand for wastegate technology in the automotive turbocharger market is due to its simple design and application in automobile engines. Wastegate technology aids in protecting the turbocharger and engine from damage due to excessive boost pressure from the turbine. Engine component providers are focusing on developing new wastegate technologies to improve turbocharger safety.
The gasoline turbocharger segment is set to grow substantially during the forecast timeline, owing to the increased adoption of gasoline engines by car manufacturers. Turbo systems in gasoline engines function at high RPMs and require small combustion chambers, promoting engine downsizing in passenger cars.
The OEMs will dominate the market revenue share from 2020 to 2026 due to the presence of numerous established players in the automotive turbocharger market. Automobile manufacturers rely on OEMs for the supply of crucial engine components, such as turbochargers, for all categories of vehicles. Increasing the production of fuel-efficient engines with enhanced power output will fuel market growth.
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The European automotive turbocharger market size will exhibit rapid growth till 2026, driven by the presence of several established automobile manufacturers, such as BMW, Audi, and Daimler, in the region. These players are focusing on integrating advanced turbocharger systems into vehicles to enhance drivability and engine performance.
Stringent government regulations across European countries to reduce carbon and nitrous oxide emissions through vehicle exhaust are driving market growth. In April 2019, the European Parliament formally adopted new CO2 emission standards for passenger cars and vans.
Some major findings of the automotive turbocharger market report include:
- With the rapidly changing technology landscape in the automotive industry, many automobile manufacturers are focusing on leveraging the benefits of automotive turbochargers to accelerate engine performance and increase fuel efficiency.
- The growing importance of low-emission engines in vehicles to comply with stringent government regulations will create a positive outlook for the automotive turbocharger market revenue.
- Automotive turbochargers are aiding vehicles operating at high altitude conditions to boost engine performance.
- VGT/VNT technologies are increasing the adoption of turbochargers in passenger cars by providing flexible aspect ratio to enhance engine performance at variable speeds by alternating the turbine geometry.
- Some of the leading market players are Banks Power, BorgWarner, BMTS Technology, Cimos D.D., Cummins Inc., Honeywell International Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, Montupet, Precision Turbo & Engine, Rotomaster, The Turbo Engineers GmbH, Turbo Energy Pvt Ltd, Turbonetics Inc., and Magnum Performance Turbos.
- Automotive turbocharger manufacturers are focusing on strategic collaborations to expand their product portfolio and geographical presence.
Table of Contents (ToC) of the report:
Chapter 3. Automotive Turbocharger Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.3. Software & technology providers
3.3.4. System integrators
3.3.5. Distribution channel analysis
3.3.6. End-use landscape
3.3.7. Vendor matrix
3.4. Comparison of turbo engine and non-turbo engine
3.5. Pricing analysis, 2019
3.5.1. Pricing analysis, by region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
3.6. Cost structure analysis, 2019
3.6.1. Manufacturing cost
3.6.2. Labor cost
3.7. Technology & innovation landscape
3.7.1. Engine downsizing
3.7.2. Electric turbocharger system
3.8. Regulatory landscape
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.2. Industry pitfalls & challenges
3.10. Growth potential analysis
3.11. Porter's analysis
3.11.1. Supplier power
3.11.2. Buyer power
3.11.3. Threat of new entrants
3.11.4. Threat of substitutes
3.11.5. Internal rivalry
3.12. Competitive landscape, 2019
3.12.1. Company market share analysis, 2019
3.12.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)
3.13. PESTEL analysis
Browse Complete Table of Contents (ToC) at
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level and cross-sectional statistics that make our offering a stand-out for decision-makers. https://www.gminsights.com/gmipulse
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Original Source: Automotive Turbocharger Market Revenue to Surpass USD 27B by 2026: Global Market Insights, Inc.