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

Published Date: Mar 2020  |  Report ID: GMI2463  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 276   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

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

The automotive turbocharger industry will witness substantial growth due to its increasing adoption in passenger, commercial, and heavy-duty vehicles to provide enhanced fuel efficiency. Turbochargers enable automobile manufacturers to provide enhanced safety and improved performance at high altitudes, supporting their adoption.
 

Automotive Turbocharger Market

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Automotive turbocharger manufacturers are primarily focusing on developing new turbochargers integrated with electrified engine technologies, attributing to the industry growth. For instance, in October 2019, Garrett Motion announced the launch of its new automotive turbocharger, E-Turbo system, for passenger vehicles. This turbocharger boosts the power of electric & hybrid engines in passenger vehicles.
 

However, the increasing adoption of electric vehicles due to the implementation of stringent emission standards across the globe is anticipated to hamper the usage of ICE engines in automobiles, challenging the market growth. Moreover, the high market price of these components is anticipated to restrict their adoption during the forecast timeline.
 

Automotive Turbocharger Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 16 Billion (2019)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7% 2026 Value Projection: 24.5 Billion (USD)
Pages: 276 Tables, Charts & Figures: 571
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
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:
  • Implementation of stringent vehicle emission regulations across the globe
  • Rising automotive production and sales
  • Performance and safety improvements at higher altitudes
Pitfalls & Challenges:
  • Growing demand for electric vehicles

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Increasing adoption of automotive turbochargers in passenger vehicles

The PCV segment held around 60% of the market share in 2019 owing to implementation of stringent emission regulations by the governments across the globe to reduce harmful emissions from passenger vehicles.
 

For instance, in August 2019, the Supreme Court of India announced that Bharat Stage VI (BS-VI) emission norms will be applicable in India from 1st April 2020, completely banning the sale of vehicles equipped with BS-IV engines.
 

The implementation of such regulations by government authorities has encouraged automobile manufacturers to integrate automotive turbochargers in passenger cars and heavy-duty vehicles, fueling the market revenue.
 

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 segment of the market accounted for approximately 15% share in 2020. Twin automotive turbochargers help in significantly reducing the turbo lag caused by single-stage turbos due to 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).
 

For instance, in March 2019, Porsche launched its new Cayenne Turbo Coup car equipped with a 4.0-liter V8 engine and Twin Turbo charging technology. The new technology aids the car manufacturer to reduce turbo lag and provide improved acceleration in the new model.
 

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

The gasoline segment of the automotive turbocharger market held about 25% revenue share in 2019 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, eventually supporting the market size expansion.
 

Gasoline automotive turbocharger manufacturers are integrating new technologies into turbocharging systems to cater to the increasing market demand. For instance, in September 2018, Garett Motion announced the launch of its new DualBoost Gasoline Turbochargers.
 

The DualBoost technology helps in increasing the transient efficiency of the automotive turbocharger by up to 30% with reduced turbo lag and engine size, driving the market value. Moreover, the increasing focus of automobile manufacturers on engine downsizing will propel the market demand.
 

Steady growth in the aftermarket distribution channel segment

The aftermarket segment accounted for 6% of the market share in 2019. The aftermarket distribution channel in the market mainly caters to the replacement of damaged engine components. Increasing demand for engine components in the automobile industry due to frequent engine-component failures will create the market demand.
 

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. Moreover, system manufacturers are also focusing on enhancing their aftermarket share by offering long term warranties and services to customers, driving the industry growth.
 

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 anticipated to witness exponential growth through 2026 propelled by 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, supporting the market demand.
 

The Corporate Average Fuel Economy (CAFÉ) norms introduced by the U.S. National Highway Traffic Safety Administration (NHTSA) have 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%, supporting the adoption of automotive turbochargers in all vehicle segments. Furthermore, increasing consumer inclination toward low-emission vehicles will contribute to the market growth.
 

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

Major players operating in the industry 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.
 

Industry players are making large investments in R&D activities to introduce new automotive turbocharger systems to enhance vehicle performance. For instance, in March 2020, Cummins Turbo Technologies announced the launch of two new features in its HE600 Holset Turbocharger, compressor stage and turbine housing. These technologies helped in increasing the overall turbocharger efficiency by more than 4%, attributing industry trend.
 

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.
 

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 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
       

Frequently Asked Questions (FAQ) :

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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