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The global automotive turbocharger market reached a value of above USD 13.31 billion in 2023. The industry is further expected to grow at a CAGR of 10.4% in the forecast period of 2024-2032 to reach a value of more than USD 32.21 billion by 2032.
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The Asia Pacific region accounts for a significant share of the automotive turbocharger industry owing to the increasing automobile production in countries such as China, India, and other economies of Southeast Asia. Due to the substantial manufacturing levels of automobiles, China holds a considerable share of the total demand for turbochargers in the region. With the growing demand for automotive turbochargers in original equipment manufacturing (OEMs), the market is witnessing rapid growth.
The North America automotive turbocharger industry is estimated to grow robustly due to the introduction of various government regulations on vehicle emissions. As regulatory bodies such as the Environmental Protection Agency (EPA) of the United States are implementing strict emission standards for on-road vehicles, the demand for automotive turbochargers is increasing. Automobile manufacturers are required by EPA rules to build cleaner engines that are more fuel-efficient, which is bolstering industry growth of automotive turbocharger. Meanwhile, Europe accounts for a significant share of the market due to the extensive presence of leading automobile companies in countries such as Germany, France, Italy, and Spain, which is significantly contributing to the growth of the overall market.
An automotive turbocharger is a turbine-driven induction device that improves the efficiency and output of internal combustion engines. The device is typically used to direct extra fuel into the combustion chamber in case the atmospheric pressure of vehicles fails to keep up with the necessary output. Automobile manufacturers consider turbochargers to be a viable commodity for keeping fossil fuel engines clean.
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By fuel type, the market is divided into:
Based on vehicle type, the market includes:
The various technologies of automotive turbocharger in the market are:
The major components of automotive turbocharger in the market are:
The EMR report looks into the regional markets of automotive turbocharger like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The introduction of various stringent regulations to minimise emissions and non-renewable energy dependency in the automotive industry is propelling the market for automotive turbocharger. Original equipment manufacturers (OEMs) are increasingly implementing engine-downsizing tactics to maximise vehicle fuel efficiency due to the increasing adoption of strict automobile emission requirements. This trend is projected to drive up demand for turbochargers to reduce vehicle emissions and improve fuel efficiency, which is anticipated to propel the market growth. Moreover, the rising trend of light-weighting engines in commercial vehicles is increasing the shift towards direct gasoline engines, which is estimated to positively impact the market growth in the forecast period.
With the growing demand for fuel-efficient vehicles due to the rising gasoline and diesel prices in the international market, the market for automotive turbocharger is witnessing robust growth. Due to considerable success in both types of fuel engines, the demand for turbocharger-based engine vehicles is increasing rapidly. The growing demand for passenger cars is also increasing the utilisation of automotive turbochargers, hence fuelling the market growth. In addition, the development of fuel cell car turbochargers to improve power production efficiency and provide clean air to fuel cell batteries is estimated to propel the market growth. The introduction of fuel cell technology into passenger cars is expected to further invigorate the market for automotive turbocharger in the forecast period.
The report gives a detailed analysis of the following key players in the global automotive turbocharger market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Fuel Type |
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| Breakup by Vehicle Type |
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| Breakup by Technology |
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| Breakup by Component |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global automotive turbocharger market attained a value of above USD 13.31 billion.
The market is projected to grow at a CAGR of 10.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach more than USD 32.21 billion by 2032.
The market is being driven by the increasing manufacturing levels of automobiles and the rising trend of light-weighting engines in commercial vehicles.
The increasing adoption of strict automobile emission requirements, the hiking prices of gasoline and diesel, the introduction of fuel cell technology into passenger cars, and the increasing fuel-efficient vehicles are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major fuel types in the market are diesel, and gasoline, among others.
The types of vehicles in the market are passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.
The different technologies involved in the market are variable geometry turbocharger (VGT), wastegate turbocharger, electric turbocharger, twin turbocharger, free-floating turbocharger, and double axle turbocharger.
The major components are housing, compressor, and turbine.
The major players in the industry are Continental AG, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., BorgWarner Inc., Cummins Inc., and BMTS Technology GmbH & Co. KG, among others.
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