Automotive Turbocharger Market Size By Vehicle (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin Turbo), By Fuel (Gasoline, Diesel), By Distribution Channel (OEM, Aftermarket) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Dec 2018  |  Report ID: GMI2463  |  Authors: Ankita Bhutani

Report Format: PDF   |   Pages: 360   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends


Automotive Turbocharger Market size valued at USD 13 billion in 2017 and will witness growth at around 9.5% CAGR from 2018 to 2024. Stringent emission regulations applied by various countries coupled with fuel efficiency and engine downsizing requirements are the major factors accelerating the market share.

Transportation contributes to over 17% to CO2 emissions of which internal combustion engines contribute significantly. Recognizing the importance of controlling emissions from vehicles, government agencies are implementing performance-based emission standards, inadvertently will fuel the automotive turbocharger industry size.

U.S. Automotive Turbocharger Market, By Technology, 2017 & 2024 (USD Million)

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Turbo system enhances the engine output power without change in piston displacement. This in turn will lead to engine downsizing and derive improved fuel efficiency and vehicle performance. Reduction in vehicle weight by over 10%, 6% to 8% vehicle efficiency enhancement, and over 70 MMT reduction in carbon emission will provide strong growth prospects to the automotive turbocharger market revenue through the forecast period.

Increasing penetration of electric vehicles coupled with incentives provided by number of government institutions for promoting the usage of zero-emission vehicles will hamper the ICE vehicle sales.

Increasing R&D and advent of advanced products such as electric powered forced induction system will significantly support the market demand. Fuel economy enhancement by forced induction technology in passenger cars and light duty vehicles are expected to witness strong demand. However, slow transient response typically at low engine speeds (turbo lag), is among the major turbo system drawback.

Automotive Turbocharger Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 9 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 9.5% 2024 Value Projection: 24.5 Billion (USD)
Pages: 360 Tables, Charts & Figures: 599
Geographies covered (22): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, Japan, India, South Korea, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Vehicle, Technology, Fuel, Distribution Channel and Region
Companies covered (16): Banks Power, BorgWarner, BMTS Technology, Cimos D.D., Cummins, Inc., Honeywell International, Inc., IHI Corporation, Linamar Corporation, Magnum Performance Turbos, Mitsubishi Heavy Industries:, Montupet, Precision Turbo & Engine, Rotomaster, The Turbo Engineers GmbH, Turbo Energy Private Limited, Turbonetics, Inc.
Growth Drivers:
  • Stringent emission regulations for fuel efficiency, and engine downsizing
  • Increasing automotive production and sales
  • Performance and safety improvement at higher altitudes
Pitfalls & Challenges:
  • Increasing penetration of electric vehicles

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Market by Vehicle

Passenger cars in the automotive turbocharger market will register highest growth during the forecast timeframe. Increasing consumer inclination towards highly fuel-efficient vehicles and performance output coupled with increasing spending power in emerging economies of India, Brazil, Indonesia, and Mexico will provide strong growth prospects.

Heavy commercial vehicles contribute significant share of the overall vehicle emissions necessitating the utilization of turbo-systems. These vehicles require highly durable engines that can perform in any weather conditions. Industry players are focussing on developing new technologies that will support the market growth. Moreover, strong emphasis of government bodies for reducing the vehicular emissions will provide solid growth platform through the forecast period.

Market by Technology

VGT/VNT will contribute to the largest market revenue share to 2024. It improves engine output from forcing more air through compressor and injecting fuel into combustion chamber. VGT is designed for maintaining effective aspect ratio of turbo. This ratio changes from high speed to low speed engines due to distinct wide commercial vehicle requirements.

Wastegate turbo-segment will show significant gains over the forecast timeframe. Advancements in exhaust bypass valves allowing to bypass turbines coupled with the ability to control turbo-spin speed, and advance aerodynamics will improve the power density.

Market by Fuel

Gasoline segment of the automotive turbocharger market will grow rapidly in the coming years impelled by higher RPM advantages in passenger vehicles. Turbo system in these engines are designed to operate at higher RPM and requires smaller combustion chambers. High performance output in conjunction with the engine downsizing achieved through gasoline engines will fuel the overall industry growth.

Diesel engines are anticipated to continue their dominance through the forecast timeframe. The system enhances transient performance, low-speed torque, and increased usage of turbo system to downsize diesel engines will catapult the market value.

Market by Distribution Channel

OEM segment is anticipated to dominate the industry share over the projected timeframe due to significant number of factory-installed systems. OEMs including Bosch Mahle Turbo Systems, Honeywell, IHI, Magnum Performance Turbos, Precision Turbo & Engines, TEL, and Turbo Engineering are among top OEM companies providing turbo systems to major automobile manufacturers.

Aftermarket distribution channel primarily caters to replacement for damaged or failed engine components. High dependence of transportation industry on aftermarket services owing to unprecedented failure of engine components will provide considerable growth prospects through the forecast timeframe. Automotive e-commerce industry participants are emphasizing on DIY kits and economically competitive options to attract consumers.

Market by Region

Europe automotive turbocharger market will account for majority share between 2018 and 2024. Increasing usage of passenger vehicles coupled with engine downsizing and enhancement of engine performance are major factor contributing to industry growth. Additionally, government regulations to reduce CO2 and nitrous oxide emissions through automobile exhaust will further boost the product adoption.

The U.S. market will show steady growth to 2024 driven by regulatory bodies such as the U.S. Environmental Protection Agency (EPA) formulated stringent fuel economy and emission standards. It enforces automobile manufacturing companies to develop engines that are cleaner and more fuel efficient. Additionally, CAFÉ has mandated improvement in the fuel economy of vehicles by 40%. These factors are anticipated to fuel the market growth.

Competitive Market Share

Some of the key manufacturers in the market include Banks Power, BorgWarner, BMTS Technology, Honeywell International Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, and Rotomaster. Industry participants are engaged in merger and acquisition strategies to expand their product portfolio and geographical presence.

Industry Background

Automotive turbocharger industry is highly competitive owing to the presence of key players. Industry participants offer their turbo system products through their robust distribution channel for improving their industry foothold and meet the growing consumer requirements. Competitive pricing, quality product and hassle-free operation are among the major detrimental factors affecting brand success. Major cost optimization strategies adopted by industry participants include continuous optimization and product portfolio upgradation.

Maintaining a high level of product safety and quality is an essential factor as the component manufacturers are liable to claims and products recalls during failure of product in warranty period. The industry has witnessed large number of product recalls and backlogs over the past years. This risk of recalls increases when automobile manufacturers offer longer warranty periods to attract customers.

Frequently Asked Questions (FAQ) :

The automotive turbocharger market size valued at USD 13 billion in 2017 and will witness growth at around 9.5% CAGR from 2018 to 2024.
The European region will account for majority market share between 2018 and 2024 led by increasing usage of passenger vehicles coupled with engine downsizing and enhancement of engine performance.
Major manufacturers in the market include Banks Power, BorgWarner, BMTS Technology, Honeywell International Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, and Rotomaster.

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