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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:
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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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