Turbocharger Market Size Analysis

Turbocharger market size is estimated to be valued over US$ 12.2 Billion in 2018, registering a CAGR of 9.2% between 2018 and 2028.

Turbochargers increases the amount of air entering the engine, thereby increasing its overall efficiency. It improves the engine performance to a great extent and lower the total emission output. As such, there is a high demand for turbochargers worldwide.

Turbochargers are widely used in the automotive and aerospace industry to boost the engine volumetric efficiency and reduce the exhaust emissions. Moreover, the device increases the torque power which is highly needed for engines.  Turbocharger market is primarily driven by consistent product innovation to meet the environmental regulatory compliances led down by various government. Sales of turbocharger is expected to be further driven by regulatory compliances. Newer emissions legislations and policies to boost the overall unit sales

Globally, the industry is bit fragmented. However, leading companies are largely adopting inorganic growth strategy. As such, the market is set to be consolidated in another ten years. Midsize players primarily operates on pricing differentiation. These players are mainly concentrated in China and South East Asia belts. As a result, these companies are able to procure raw material and labor resource at relatively lower rate than those based in Europe and North America. Since 2010, many companies reported to shift some portion of their in-house production to contract sites. This is expected to help companies ensure healthy competition and higher return on investment (ROI).

Turbocharger Market Value Analysis, By Vehicle

Turbocharger sales will dominate in four wheelers. In 2017, turbocharger sales for car was valued at US$ 7.1 billion. It will continue to create high demand with increased demand for sports vehicle. By 2028, the segment will gain 570 basis points – create high revenue opportunity for industry players.

Two-wheeler segment will continue to grow at healthy rate, however, relative uptake will be lower compared to that in four wheelers. The segment will register a CAGR of 7.1% between 2018 and 2028.

Global Turbocharger Market Share Analysis, By Distribution channel

By distribution network, aftermarket segment will account for 63% of total sales. Majority of the automotive are fitted with turbochargers from aftermarket. It will continue to register significant growth during the forecast period.

Global Turbocharger Market Share Analysis, By Propulsion

Diesel based vehicles dominated the turbocharger market followed by gasoline and electric vehicles. Diesel and gasoline vehicles collectively accounted for 98% of total turbocharger sales worldwide. While the segment dominated the global share in 2017, it will lose a major chunk of the market to electric vehicles. This is attributed to the fact that electric vehicles will account for 70% of new sales by 2028. As a result, various turbocharger manufacturers are expected to upgrade the existing technology to meet the changing compliance. Early adopters will be highly benefitted from change.

Global Turbocharger Market Size and Forecast: Regional Analysis

Globally, Asia Pacific turbocharger market is estimated to be valued over US$ 5.7 billion in 2018. Sales in the region is driven by higher SUV and sports car in China and India. In addition, the region has well established automotive ecosystem. As a result, product cost is comparatively lower in the region. Turbochargers in China are priced 15% lower compared to that in North America and Western Europe.

North America and Western Europe will continue to grow at steady rate, creating substantial market opportunity for players.

Global Turbocharger Market Size and Forecast: Competition Landscape

Some key Turbocharger market players are:

• Honeywell International Inc.
• Bosch Mahle Turbo System GmbH & Co. KG
• Mitsubishi Heavy Industries Ltd.
• IHI Corporation
• BorgWarner Inc.
• Eaton Corporation PLC
• Rotomaster International
• Cummins Inc.
• Precision Turbo & Engine
• Continental AG

Industry Segmentation

By Vehicle:

• Two Wheeler
• Four Wheeler
  • Midsize Car
  • Sports Car
  • SUV
  • Others
• Others

By Product Type:

• Twinturbo technology
• Wastegate technology
• Variable geometry technology

By Propulsion:

• Diesel Based Vehicles
• Gasoline based Vehicles
• Electric Vehicles

By Distribution Channel:

• OEM
• Aftermarket

By Industry Verticals:

• Aerospace
• Automotive
• Marine
• Agriculture & Construction

What Will You Discover in the Report?

• An in-depth analysis of the Turbocharger market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
• How the Turbocharger market sales is expected to grow throughout the forecast period.
• How geopolitical policies and technological changes will affect the Turbocharger market in near future
• Where the stakeholders should invest to generate higher profit margins
• How consumers (end-users) will reflect to the Turbocharger industry during the forecast period
• Who are the Turbocharger industry leaders and what are the key initiatives taken by them for long term growth

Who will benefit from the Report?

• Turbocharger Industry Suppliers
• Turbocharger Industry Manufacturers
• Consultants and Analysts
• Researchers
• Industry Specialists

Analyst access with Bekryl Market Analysts

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