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Automotive Turbocharger Market

Automotive Turbocharger Market

Automotive Turbocharger Market Analysis By Technology (Twin Turbo, Variable Geometry, Turbo Wastegate & Electric) By Material (Cast Iron & Aluminum Automotive Turbochargers) By Engine Type (Gasoline & Diesel) By Operation, Vehicle, Sales Channel & Region, Forecast 2022-2031

Automotive Turbocharger Market
FACT16MR
  • May-2022
  • List of Tables : 108
  • List of Figures : 241
  • 170 Pages
  • Automotive

Automotive Turbocharger Market Outlook (2022-2031)

The global automotive turbocharger market totaled US$ 11.2 billion in 2021. Sales of automotive turbochargers are predicted to reach a market valuation of US$ 23.28 billion by 2031, increasing at a CAGR of 7.6%.

Report Attributes

Details

Automotive Turbocharger Market Size (2020)

US$ 10.4 Billion

Projected Year Value (2031)

US$ 23.28 Billion

Global Market Growth Rate (2022-2031)

7.6% CAGR

Europe Market Share (2022)

50%

Key Companies Profiled

  • BorgWarner Inc.
  • Continental AG
  • Garrett Motion Inc.
  • Eaton Corporation PLC
  • Honeywell International Inc.
  • Mitsubishi Heavy Industries Ltd.
  • Precision Turbo & Engine Inc.
  • Rotomaster International
  • THE TURBO ENGINEERS GmbH

Demand for use in gasoline engines is projected to expand at a CAGR of 8.7% from 2022 to 2031, due to the rise in demand for robust and fuel-efficient gasoline-powered vehicles.

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Sales Analysis of Automotive Turbochargers from 2017-2021 Vs Market Outlook for 2022-2031

“Growing Need for Enhanced Fuel Efficiency to Fuel Sales of Automotive Turbochargers”

As per Fact.MR - a market research and competitive intelligence provider, the global automotive turbocharger market was valued at US$ 11.2 billion in 2021.

Automotive turbochargers are turbine-driven induction devices, which amplify the engine efficiency and output of IC engines. These devices are deployed to direct more fuel into the combustion chamber in case the vehicle’s atmospheric pressure fails to keep up with the desired output. Turbochargers are weighed as a viable commodity by car manufacturers which is relied upon for keeping fossil fuel engines cleaner.

The most profitable part of the automotive industry is engine downsizing. Small engines are becoming increasingly common in automobiles since they help to efficiently reduce fuel emissions. Turbochargers assist the automotive industry in meeting regulatory rules and regulations for the emission of dangerous gases such as carbon dioxide and other pollutants from automobiles.

Turbochargers are thought to be both cost-effective and ecologically benign. Furthermore, the rising number of vehicle sales and manufacturing is driving up demand for automotive turbochargers. Globally, increased urbanization, industrialization, road infrastructure development, and an improvement in the standard of living are the primary reasons driving the market growth.

The automotive industry is also being propelled by rising disposable income. The growing popularity of low-emission and fuel-efficient automobiles is strengthening the demand for automotive turbochargers.

Demand for automotive turbochargers is predicted to increase at a high CAGR of 7.6% from 2022 to 2031.

Which Key Aspect is Driving Demand for Automotive Turbochargers?

“Rising Strides for Emission Control to Fuel Market Value”

Surge in automobile production is slated as one of the predominant factors linked with environmental deterioration. By drawing advantages from the aforementioned scenario, automotive turbochargers are finding extensive use case.

Prosperity of the automotive turbochargers market is favoring the production of cars and vehicles with TGDI (turbocharged gasoline direct injection) engines. With a succession of innovations coming into the picture in the automotive turbochargers market, a new range of advanced turbochargers with exclusive valve designs has been introduced.

The primary objective behind the enhancement of valves in the automotive turbochargers market is to boost vehicle performance, both, in low- as well as high-speed conditions.

Automotive turbocharger manufacturers are proactively adopting wastegate technologies that enable transforming engines to curtail emissions.

Automotive turbocharger market forecast by Fact.MR

What Limitations are Hampering Sales of Automotive Turbochargers?

“Rising Demand for Electric Vehicles & High Maintenance Costs Restraining Market Growth”

Electric vehicles are replacing traditional gasoline vehicles in the worldwide automobile sector. The rising emissions from automobile fuels are contributing to air pollution and the global warming crisis. People's growing preference for zero-emission vehicles may have a negative impact on the market.

Turbocharger replacement is also costly. Turbochargers with poor maintenance might fail prematurely, increasing the load on the engine cooling oil. As a result of the cooling oil required, TGDI (turbocharged gasoline direct injection) engines have high maintenance costs.

An Adaptive Approach to Modern-day Research Needs

Which Region is a Lucrative Market for Automotive Turbocharger Suppliers?

“Presence of Top Automotive Brands Driving Market Growth in Europe”

Europe accounts for around 50% share of the global market. The market expansion in Europe is being driven by the existence of major automobile industries, the deployment of turbochargers in light and commercial vehicles, and the availability of top automotive brands.

In Europe, developments like automobile performance tuning and engine remapping, as well as additive manufacturing, are gaining pace, prompting manufacturers to incorporate these trends into the development of superior car turbochargers.

Introduction of electric turbochargers is expected to provide a substantial development dimension to the market over the forecast period.

Country-wise Insights

Will the U.S. Automotive Turbocharger Market Exhibit Steady Growth?

“Increasing Demand for Fuel-efficient Vehicles Boosting Market Growth”

The U.S. automotive turbocharger market is expected to show exponential growth over the forecast period owing to the rapid implementation of smart technology in turbochargers. Because of the rising demand for fuel-efficient vehicles in the United States, the automotive turbochargers market is expected to rise steadily over the forecast period.

Furthermore, the Environmental Protection Agency (EPA) in the U.S. has established strict fuel emission rules and standards. The government has made it mandatory for manufacturers to produce cleaner, more fuel-efficient engines.

Why is Demand for Automotive Turbochargers Surging in China?

“Rising Initiatives to Develop New E-Turbochargers in China”

China has the highest share of the automotive turbocharger market due to the huge amount of passenger cars. The primary factors contributing to the market growth include rapid urbanisation, industrialization, infrastructure improvements, and an increase in disposable income.

In China, demand for electric vehicles (EV) is growing rapidly, prompting manufacturers to develop new e-turbochargers and incorporate advanced technologies into existing models.

Moreover, China is one of the world's leading producers of car parts. This provides an opportunity for global manufacturers to extend their footprint in the country and profit from strategic partnerships with regional manufacturers to produce the best automotive turbochargers.

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Category-wise Insights

Which Automotive Turbocharger Technology is Most Preferred in the Market?

“Rapid Deployment of Twin Turbo Charging Technology in Sports Cars and SUVs”

The twin turbo technology accounted for 25% of the revenue share in 2020. The time required by turbines using gas compressors & motor-driven compressors to compress exhaust gases causes turbo lag in single-stage turbochargers. Twin automotive turbochargers help to greatly reduce turbo lag.

The twin automotive turbocharger technology is being adopted by prominent vehicle manufacturers in this industry for higher production, providing engines in sports cars and Sports Utility Vehicles (SUVs).

All of these significant factors are expected to boost demand for twin turbo technology over the forecast period.

Which Engine Type is Driving Most Demand for Automotive Turbochargers?

“Rising Penetration of Turbochargers in Gasoline Engines being Witnessed

Sales of gasoline engines account for over 50% share of the global market.  The consumption of gasoline engines is predicted to expand at a CAGR of 8.7% over the forecast period. The penetration of turbochargers in gasoline engines is an influential factor boosting the automotive turbochargers market.

From their conventional use case in diesel engines, turbochargers are finding extensive adoption in gasoline-powered engines in the light of fuel efficiency concerns posing a good sign for the automotive turbochargers market.

Moreover, stringent norms in place, predominantly in emerging economies, are bolstering the growth of the automotive turbochargers market.

COVID-19 Impact on Consumption of Automotive Turbochargers

The COVID-19 pandemic had a negative impact on the economy by compelling firms to shut down manufacturing lines. There were no new requirements for turbochargers to be installed in new vehicles or spare turbochargers to be replaced in existing vehicles because there were essentially no vehicular movements.

However, rising demand for performance and luxury cars, as well as increasing usage of advanced turbochargers in the automotive industry, are some of the key factors driving the market growth. Automotive turbocharger manufacturers are concentrating their efforts on developing new innovative technologies that will help the automotive turbocharger market grow.

Competitive Landscape

To manufacture high-quality products, automotive turbocharger suppliers are always improving production automation processes and unique manufacturing procedures.

Automotive turbocharger manufacturers put in equipment to test turbocharger performance and reliability under severe pressures and temperatures.

For instance :

  • In 2021, a collaborative cooperation between MAN Energy Solutions and Rolls-Royce will see MAN's PBST brand distribute state-of-the-art mtu turbochargers. The firms' competencies, such as Rolls-latest Royce's high-efficiency mtu turbocharger technology for high-speed diesel and gas engines and PBST's global turbocharger sales structure, are combined through this agreement.

Key Segments in Automotive Turbocharger Industry Research

  • Automotive Turbocharger Market by Technology :

    • Twin Turbo
    • Variable Geometry Turbo
    • Wastegate
    • Electric
  • Automotive Turbocharger Market by Material :

    • Cast Iron Automotive Turbochargers
    • Aluminum Automotive Turbochargers
    • Others
  • Automotive Turbocharger Market by Engine Type :

    • Gasoline Automotive Turbochargers
    • Diesel Automotive Turbochargers
    • Others (Hybrid)
  • Automotive Turbocharger Market by Operation :

    • Conventional Turbochargers
    • E-Turbochargers   
  • Automotive Turbocharger Market by Vehicle :

    • Passenger Vehicles
      • Hatchbacks
      • Sedans
      • Utility Vehicles
    • Light Commercial Vehicles
    • Trucks
    • Buses & Coaches
    • Off-road Vehicles
      • Agriculture Tractors & Equipment
      • Construction & Mining Equipment
    • Industrial Vehicles (Forklift, etc.)
  • Automotive Turbocharger Market by Sales Channel :

    • OEMs
    • Aftermarket
  • Automotive Turbocharger Market by Region :

    • North America Automotive Turbocharger Market
    • Europe Automotive Turbocharger Market
    • Asia Pacific Automotive Turbocharger Market
    • Latin America Automotive Turbocharger Market
    • Middle East & Africa Automotive Turbocharger Market

- FAQs -

The global automotive turbocharger market was valued at US$ 10.4 billion in 2020.
BorgWarner Inc., Continental AG, Garrett Motion Inc., Eaton Corporation PLC, and Honeywell International Inc. are key manufacturers of automotive turbochargers.
The automotive turbochargers market is expected to be valued at US$ 23.28 billion by 2031.
Implementation of stringent vehicle emission regulations across the world, rising automotive production and sales, and performance and safety improvements at higher altitudes are driving market growth.
The global market for automotive turbochargers is estimated to exhibit a high CAGR of 7.6% over the forecast period (2022-2031).
The U.S., Japan, India, China, and Germany are expected to drive most demand for automotive turbochargers.

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