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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, 2020 – 2026

  • Report ID: GMI2463
  • Published Date: Mar 2020
  • Report Format: PDF

Industry Trends

Automotive Turbocharger Market size exceeded USD 16 billion in 2019 and is estimated to grow at over 7% CAGR between 2020 and 2026. Enhanced engine power coupled with increased fuel economy is supporting the usage of turbochargers in Internal Combustion Engine (ICE) vehicles.
 

Increasing adoption in passenger, commercial, and heavy-duty vehicles to provide enhanced fuel efficiency is likely to drive the industry growth. Turbochargers enable automobile manufacturers to provide enhanced safety and improved performance at high altitudes.
 

Automotive Turbocharger Market

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Manufacturers are primarily focusing on developing new turbochargers integrated with electrified engine technologies, attributing to market demand. The increasing usage of electric vehicles owing to the implementation of stringent emission standards across the globe is anticipated to hamper the usage of ICE engines in automobiles. Moreover, the high market price of these components is poised to restrict their acceptance.
 

Increasing adoption of automotive turbochargers in passenger vehicles

The PCV segment held around 60% of the automotive turbocharger market share in 2019 on account of the implementation of stringent emission regulations by the governments to reduce harmful emissions from passenger vehicles. The implementation of such regulations by government authorities has encouraged automobile manufacturers to integrate automotive turbochargers in passenger cars and heavy-duty vehicles.
 

Growing application of twin turbo charging technology in sports cars and SUVs

Global Automotive Turbocharger  Market, By Technology

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The twin turbo technology accounted for approximately 15% of the revenue share in 2019. Twin automotive turbochargers help in significantly reducing the turbo lag caused by single-stage turbos led by the time required by turbines to compress exhaust gasses. Prominent automobile manufacturers in this market are adopting the twin automotive turbocharger technology for high output, delivering engines in sports cars and Sports Utility Vehicles (SUVs).
 

Increased fuel efficiency and power to boost the uptake of gasoline turbochargers

The gasoline segment captured share more than 25% of the automotive turbocharger market in 2019. The growing adoption of gasoline automotive turbochargers is primarily driven by increased penetration of small gasoline-powered passenger vehicles globally. These vehicles are increasingly fuel-efficient and deliver high engine power. The exhaust gas turbocharging technology built in gasoline automotive turbochargers assists in efficient combustion of engine fuel, thereby enhancing the engine performance.
 

Companies are integrating new technologies into turbocharging systems to cater to the increasing market growth. Additionally, the increasing focus of automobile manufacturers on engine downsizing will propel automotive turbochargers industry revenue.
 

Steady growth in the aftermarket distribution channel segment

The aftermarket segment covered nearly 6% of the revenue share in 2019. It caters to the replacement of damaged engine components. Increasing demand for engine components in the automobile industry propelled by frequent engine-component failures will create demand for automotive turbochargers.
 

Automotive component makers are leveraging e-commerce platforms to serve their customers with aftermarket turbochargers. For instance, Turbokits.com uses its website to sell engine components and turbocharger kits in the North American market. Furthermore, system manufacturers are also focusing on enhancing their aftermarket share by offering long term warranties and services to customers.
 

Implementation of stringent vehicle emission norms in North America

North America Automotive Turbocharger Market Estimates & Forecast By Country

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North America automotive turbocharger market is set to witness a high growth through 2026 due to the implementation of government regulations on vehicle emissions. Regulatory bodies, such as the U.S. Environmental Protection Agency (EPA), have introduced stringent emission regulations for on-road vehicles including passenger vehicles and commercial trucks & buses. The EPA standards enforce automobile manufacturers to produce cleaner engines with more fuel efficiency, spurring the industry statistics.
 

The Corporate Average Fuel Economy (CAFÉ) norms introduced by the U.S. National Highway Traffic Safety Administration (NHTSA) has set fuel consumption standards for light-duty, medium-duty, and heavy-duty vehicles in the U.S. CAFÉ norms enforce automobile manufacturers to improve the fuel economy of vehicles by 40%, augmenting the adoption of automotive turbochargers in all vehicle segments. However, increasing consumer inclination toward low-emission vehicles will contribute to the market expansion.
 

Market leaders to focus on new alliances and R&D capabilities

Industry participants are focusing on merger & acquisition strategies to expand their geographical presence and product portfolio. For instance, in January 2020, BorgWarner acquired Delphi Technologies, a drive technology producer based in the U.S. This acquisition aided the company to leverage Delphi’s expertise in power electronics to develop e-turbochargers for vehicles. Companies are making large investments in R&D activities to introduce new automotive turbocharger systems to enhance vehicle performance.
 

Some of the key automotive turbocharger market players include Banks Power, BorgWarner, BMTS Technology, Cimos D.D., Cummins, Inc., Honeywell International, Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, Montupet, Precision Turbo & Engine, Rotomaster, The Turbo Engineers GmbH, Turbo Energy Pvt Ltd., Turbonetics, Inc., Magnum Performance Turbos.
 

This market research report on automotive turbocharger includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in thousand units from 2015 to 2026 for the following segments:

Market, By Vehicle Type

  • PCV
  • LCV
  • HCV

Market, By Technology

  • VGT/VNT
  • Wastegate
  • Twin-Turbo

Market, By Fuel

  • Gasoline
  • Diesel

Market, By Distribution channel

  • OEM
  • Aftermarket

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The automotive turbocharger market size crossed USD 16 billion in 2019 and is likely to achieve over 7% CAGR through 2026, says this GMI report.

As per Global Market Insights, Inc., the market size for automotive turbochargers exceeded USD 16 billion in 2019 and is estimated to grow at a CAGR of over 7% between 2020 and 2026.

The North American market demand during the forecast period will be propelled by implementation of government regulations on vehicle emissions.

Some of the key market players include Banks Power, BorgWarner, BMTS Technology, Cimos D.D., Cummins, Inc., Honeywell International, Inc., IHI Corporation, Linamar Corporation, Mitsubishi Heavy Industries, Montupet, Precision Turbo & Engine, Rotomaster, The Turbo Engineers GmbH, Turbo Energy Pvt Ltd., Turbonetics, Inc., Magnum Performance Turbos.

According to this research report by GMI, the twin turbo technology segment of the market accounted for approximately 15% share in 2020.

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 16
  • Tables & Figures: 571
  • Countries covered: 22
  • Pages: 276

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