Press Release

Global Automotive Turbocharger Market to Reach USD 20 Billion by 2027, Aided by the Rising Imposition of Stringent Automotive Emission Norms

Global Automotive Turbocharger Market

According to a new report by EMR titled, ‘Global Automotive Turbocharger Market Report and Forecast 2022-2027’, the industry reached a value of above USD 11 billion in 2021. The industry is expected to grow at a CAGR of 10% in the forecast period of 2022-2027 to reach a value of more than USD 20 billion by 2027.

One of the most lucrative markets of the automobile turbochargers sector has been engine downsizing. The market for automobile turbochargers is growing due to the growing popularity of engine downsizing. The use of turbochargers in gasoline engines is a major factor driving the market for automotive turbochargers. Considering the fuel efficiency concerns, turbochargers are finding widespread usage in gasoline-powered engines, which is a positive indicator for the automotive turbocharger industry. With the upthrust in demand for robust and fuel-efficient gasoline-powered vehicles, the automotive turbochargers market is set to rise in the years ahead. Moreover, stringent norms in place, predominantly in emerging economies, are bolstering the growth of the automotive turbochargers market. Many car manufacturers consider turbochargers a viable option to keep internal combustion (IC) engines cleaner, thus increasing the share of turbocharged vehicles every year. Also, the demand for fuel-efficient vehicles is growing because of the hike in the price of gasoline and diesel in the international market.

To extend the geographical footprint and product portfolio, industry participants are focused on merger and acquisition strategies. BorgWarner (NYSE: BWA), for example, bought Delphi Technologies, a drive technology company based in the United States, in January 2020. The company was able to use Delphi's expertise in power electronics to build e-turbochargers for vehicles due to this acquisition. Various companies are investing in research and development to introduce innovative automotive turbocharger systems to improve vehicle performance.

Market Analysis by Fuel Type, Vehicle Type, Technology, Components, and Regions:

  • Based on fuel type, the market is categorised into diesel and gasoline, among others.
  • The types of vehicles are passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.
  • The technologies involved in the market are variable geometry turbocharger (VGT), wastegate turbocharger, electric turbocharger, twin turbocharger, free-floating turbocharger, and double axle turbocharger. Twin turbochargers are further divided into two stage series turbocharger, two stage parallel turbocharger and twin scroll turbocharger.
  • The components are housing, compressor, and turbine.
  • The regional markets for automotive turbocharger include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Due to market demand, manufacturers are concentrating their efforts on developing new turbochargers that are integrated with electrified engine technology.
  • The presence of major manufacturing companies in developing countries is anticipated to boost the automotive turbocharger market.
  • The market is predicted to develop as people's disposable income rises, and their demand for automobiles grows.
  • The advent of turbocharger technology that is more compatible and suited for gasoline engines is projected to provide substantial growth potential for the automotive turbocharger industry in the future.
  • The growth of the automotive turbocharger aftermarket is also driven by factors such as the increased average life of vehicles and changing consumer taste for greater power generating automotive.

Key Offerings of the Report:

  • The EMR report gives an overview of the global automotive turbocharger market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for as fuel type, vehicle type, technology, components, and major regions of automotive turbocharger.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global automotive turbocharger industry are Continental AG, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., BorgWarner Inc., Cummins Inc., and BMTS Technology GmbH & Co. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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