Automotive Turbocharger Market Size & Share 2023 to 2032
Market Size by Vehicle (PCV, LCV, HCV), by Technology (VGT/VNT, Wastegate, Twin Turbo), by Fuel (Gasoline, Diesel), by Distribution Channel (OEM, Aftermarket) & Forecast.
Report ID: GMI2463
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Published Date: December 2022
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Automotive Turbocharger Market Size
Automotive Turbocharger Market size exceeded USD 17 billion in 2022 and is projected to expand at over 8% CAGR from 2023 to 2032.
A dynamic growth in the production and sales of automobiles will positively influence the industry outlook. Over the last few decades, the automotive sector has emerged as a more flexible, reliable, efficient, and strong business. Automakers and automobile product manufacturers across the globe, particularly in the developed nations of North America are dedicating significant resources and investments for optimum capacity utilization. Improvements in consumer finance along with better credit availability, revived consumer spending and novel trends in the automotive sector will help consolidate the product demand.
Paradigm shift towards electrification of vehicles to hamper industry growth
Technological advancements in battery-powered vehicles and growing consumer preference for EVs are set to affect the demand for automotive turbochargers. Increasing emphasis on sustainable mobility and eco-friendly transportation by multiple governments through favorable incentives is accelerating the adoption of zero-emission vehicles. Rapid penetration of EVs is posing a threat to the conventional gasoline and diesel-based automobiles that use turbocharges. However, increasing demand for compact SUVs and crossovers featuring small displacement engines will help overcome the roadblocks.
Automotive Turbocharger Market Analysis
Automotive turbocharger market valuation from the PCV vehicle segment is anticipated to surpass USD 25.6 billion by 2032. In recent years, the production of premium PCVs has increased dynamically due to the growing demand for luxury vehicles in high-income countries such as the U.S., UAE, Germany, and China. For instance, in the U.S., luxury car sales have been increasing steadily with more than 35% surge in sales of super-premium cars such as Bentleys, Ferraris, and Lamborghinis over the last five years. Moreover, premium vehicle brands such as Audi AG, Mercedes-Benz, and BMW AG are ramping up investments to support R&D activities for the development of state-of-the-art turbocharger systems with superior efficiency.
The twin turbo technology segment in the automotive turbocharger market accounted for more than USD 4.8 billion in 2022 owing to the deployment of strict emission reduction targets and stringent government norms. These types of turbochargers offer superior performance capabilities allowing exhaust gases to be recycled. A parallelly setup twin turbo system offers efficient packaging inside the engine bay with the least amount of exhaust piping required. They also allow engine manufacturers to use small-sized turbos and eliminate the turbo lag linked with larger systems. The increasing need for cost-effective engine solutions will propel the demand for twin turbos.
In terms of volume, the gasoline automotive turbochargers is poised to reach approximately 33 million units by 2032. Gasoline-powered engines and turbochargers continue to have significant manufacturing as well as customer preference on account of their high RPM capabilities in passenger vehicles. Since petrol is more combustible than diesel, turbochargers with petrol engines can effectively enhance engine power notably. Petrol turbos are smaller and lighter systems that are capable of running at a relatively higher RPM range with a greater boost in pressure. Hence, as compared to diesel turbos, petrol counterparts facilitate faster functioning.
Automotive turbocharger market from the OEM segment is expected to witness over 8% growth rate between 2023 and 2032. OEMs are among the largest distributors of automotive turbochargers impelled by the pre-installation of these systems in vehicles. Automotive manufacturers worldwide are rapidly integrating next-generation technologies in passenger and commercial vehicles for improved customer experience, fuel efficiency, fuel economy, and overall performance. Additionally, OEMs are focusing on energy-efficient systems to reduce their overall carbon footprint and comply with ambitious targets pertaining to the reduction of greenhouse gases. This scenario represents lucrative business prospects for turbocharger manufacturers.
Europe automotive turbocharger market size is slated to exhibit nearly 7% gains through 2032. Europe is home to leading automobile manufacturers, subsequently fuelling the regional automotive turbocharger business. Due to the favorable footprint of automakers, the region is experiencing notable growth in R&D activities and investments in the field of new turbocharger technologies. In addition, several foreign automobile manufacturers are investing in the EU to expand their business. For instance, in June 2022, Tata Technologies unveiled its new European Innovation & Development Centre (EIDC) in Warwick, U.K.
Automotive Turbocharger Market Share
Top companies operating in the global automotive turbocharger market are:
These leaders are focusing on the expansion of their product range for improved business share. For instance, in June 2022, BorgWarner added 9 new products to its turbocharger portfolio.
Impact of COVID-19 Pandemic
The COVID-19 pandemic resulted in a dynamic reduction of turbocharger needs across the automotive sector. Automotive manufacturers worldwide reported unprecedented disruptions in the supply and demand of automotive products. The manufacturing slumped driven by stringent lockdown regulations and social distancing norms. Moreover, overall economic losses also hampered purchasing power thus affecting the sales of cars and other vehicles significantly.
The automotive turbocharger market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2018 to 2032, for the following segments:
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Market Insights, By Vehicle Type
Market Insights, By Technology
Market Insights, By Fuel
Market Insights, By Distribution channel
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
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Industry databases
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Regulatory filings
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Academic research
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GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
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Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →