Turbochargers compress the combustion air (exhaust gas) and supply it to the engine. The engine aspirates the same volume of air, but due to the higher pressure, more air mass is supplied into the combustion chamber. Consequently, more fuel is burnt to increase the engine's power output according to the speed and swept volume.
Northbrook, IL -- (SBWIRE) -- 09/28/2020 -- The Global Automotive Turbocharger Market is size estimated to be USD 11.1 billion in 2020 and projected to reach USD 18.4 billion by 2025, at a CAGR of 10.5%, from 2020 and 2025. However, due to the COVID-19 impact, most countries have imposed a complete lockdown for almost more than two months, which in turn has impacted vehicle production. The automotive turbocharger market is estimated to observed a decline post-COVID-19 due to the impact on vehicle production. The global automotive turbocharger market size post-COVID-19 is expected to be USD 11.1 billion in 2020 and is projected to reach USD 18.4 billion by 2025, at a CAGR of 10.5% from 2020 to 2025.
However, a steady recovery post-2020 in vehicle production will support the growth of this market in the coming years. Few other growth contributing factors for automotive turbocharger will further decrease in emission limits and an increase in fuel efficiency limits in upcoming regulations, the shift of the light-duty vehicles towards direct gasoline engines (GDI), thus, increasing the demand for gasoline turbochargers in the coming years.
OPPORTUNITIES: Electric turbochargers will give a boost to the future demand for turbochargers
Electric turbochargers offer more power and better fuel efficiency because of the elimination of the turbo lag. It offer various benefits and fewer technical challenges. It also results in less maintenance and cooling oil requirements. Because of the multiple benefits e-turbo has to offer and the increasing demand for better fuel efficiency and power output, it is going to have deeper market penetration in the coming years.
The automotive turbocharger market is dominated by manufacturers such Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany), Bosch Mahle (Germany), Cummins (US), ABB (Switzerland), TEL (India), and Delphi Technologies (UK), Rotomaster International (Canada), Precision Turbo & Engine INC(US), Turbonetics(US), Turbo International (US), Kompressorenabu Bannewitz GMBH(Germany), Turbo Dynamic Ltd.(UK), Fuyuan Turbocharger Co. Ltd.(China), Hunan Tyen Machinery Co. Ltd. (China), Ningbo Motor Industrial Co. Ltd. (China), Calsonic Kansei (Japan).
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=919
Increase in demand for gasoline engines in light-duty vehicles to drive the market for gasoline turbochargers
The diesel turbocharger market is matured because all commercial vehicles are mostly diesel-powered, and almost all of them are equipped with turbochargers. Thus, the demand for gasoline turbochargers is growing at a rapid rate. The adoption of TGDI in gasoline vehicles has increased the market for gasoline turbochargers, and stringent emission norms will drive the market further. With growing stringency in emission regulations, OEMs are also shifting toward CNG or alternate fuel vehicles, even in heavy commercial vehicles. Though the penetration of these alternative fuel vehicles is limited, benefits, such as better fuel efficiency, cleaner energy, and lower cost than traditional fuels, are expected to drive the demand for these vehicles in the near future. This would also shift the turbocharger demand.
Agriculture tractor is projected to be the fastest-growing segment for OHV turbochargers
Turbochargers find indispensable applications in off-highway vehicles such as construction vehicles and agricultural tractors. According to industry experts, low HP tractors do not have turbochargers installed, whereas almost all high HP tractors are equipped usually with turbochargers. Alternatively, nearly all construction equipment is expected to be equipped with turbochargers. As electrification in OHV equipment is estimated to be limited at least till the next 4-5 years, this is not likely to impact the demand for OHV turbochargers in the near future. The construction equipment market has witnessed substantial growth, particularly in emerging economies such as China and India.
The heavy-duty vehicles segment projected to showcase the largest demand for turbochargers in the aftermarket
A turbocharger is designed in such a way that it usually lasts as long as the engine. It does not require any special maintenance, and inspection is limited to a few periodic checks. When the engine is running at an RPM of anywhere between 2,000 and 6,000, the turbocharger is running at 150,000 RPM. However, factors such as thermal cracking, oxidation/rusting of turbo components, and metal fatigue of rotating parts might damage the turbocharger, which can lead to turbocharger replacement. Considering the higher number of miles driven by HCVs, the replacement rate of turbochargers is very high in these vehicles. HCVs drive the average miles in different regions ranging from 29,000 miles to 30,500 miles per year. Hence, HCVs are estimated to lead the aftermarket demand for turbochargers.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=919
Asia Oceania to dominate the automotive turbocharger market.
COVID-19 pandemic has resulted in a decline in vehicle production. However, Asia Pacific continues to remain the largest vehicle producer globally. Considering the opening of manufacturing plants in China, we expect global vehicle production to grow at a rate of 3.3% from 2020 to 2025. With a significant presence of all leading automobile manufactures, Asia Oceania is the largest producer of passenger cars in the world. Major automobile producing countries in Asia Oceania are China, Japan, India, and South Korea. Asia Oceania is estimated to be the largest market for automotive turbochargers owing to the stringent emission norms implemented in this region. The presence of key players such as IHI, continental AG, Mitsubishi Heavy Industries, BorgWarner, has broadened the scope for turbochargers in this region. China's passenger car production is estimated to cross 20 million by 2024, with 50% of them already equipped with TGDI now will expand the turbocharger market. Other emerging economies stress on cleaner vehicles such as Mild hybrid vehicles, and stringent emission norms will positively impact the turbocharger industry in the future.