Turbocharger Market
Opportunities and Forecasts, 2014- 2022
Turbocharger Market: Future and Growth • The global turbocharger market size is expected to reach $19 billion by 2022 • Registering a CAGR of 11.1% during the forecast period 2016‐2022 • Europe dominated the world turbocharger market and commanded more than 40% share of the overall turbocharger market revenue • The market is expected to exhibit a notable growth during the forecast period due to the several advantages offered by these devices such as high torque, less emission rate, and engine downsizing. • Exponential rise in demand of cost-effective and fuel-efficient engines has led to a higher adoption of turbocharger across industries such as automotive, marine, and aerospace & defence.
Turbocharger Market: Factors Contributing to Market Growth • Increase in demand for energy-proficient engine and optimized atmospheric pollution • Technological advancements • Due to its light weight design with high power and optimized fuel consumption • Increase in automotive production
• Rising government spending is expected to provide huge opportunities for the market growth
Turbocharger Market: Key Players • Ships & aircrafts segment is anticipated to be the fastest growing application segment owning to high government investment and increasing adoption of turbochargers to get improved fuel efficiency and speed • Twin turbo is the most popular turbocharger technology and is expected to hold a significant market share throughout the analysis period • Based on fuel type, the turbocharger market is divided into diesel and gasoline, with former exhibiting a higher adoption as compared to the gasoline engines • Aftermarket end user segment is anticipated to grow at a faster CAGR due to incline in demand for upgradation of vehicle engine
Turbocharger Market Segmentation Turbocharger Market is segmented into various types: By Technology • Twinturbo technology • Wastegate technology • Variable geometry technology
By Fuel Type • Diesel • Gasoline
By End User • OEM • Aftermarket
By Application • Light commercial vehicles • Heavy commercial vehicles • Ships & aircraft • Heavy duty vehicles • Locomotive
By Industry Vertical • Aerospace & defense • Automotive • Marine • Agriculture & construction
Turbocharger Market Segmentation Geographically, Market is segmented as:
• Europe, presently leads the market, on account of high investment in turbocharger technologies and enforcement of stringent government regulations • Asia-Pacific is as anticipated to be most lucrative market, during the forecast period, owing to the increased automotive production in countries such as China, Japan, and India. • The other regions generating market revenue are North America and LAMEA (Latin America Middle East Africa)
Turbocharger Market: Key Players • • • • • • • • • •
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 and Continental AG
Summary: Substantial growth in vehicle production worldwide has surged the demand for turbochargers, hence, receiving attention from world�™s prominent automotive manufacturers. In addition, engine downsizing trend, rising fuel cost and stringent exhaust emission regulations would promote the demand of turbochargers across all vehicle types. Inclining demand of auto makers for well-suited turbo technology that includes entire powertrain performance, is fueling the installation of turbochargers worldwide.
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