How is the Automotive Turbochargers Market Performing and What is its Future Growth Projection?
The automotive turbochargers market size has seen robust growth in recent years. It is projected to increase from $15.47 billion in 2024 to $16.68 billion in 2025, marking a compound annual growth rate (CAGR) of 7.8%. The growth during the historic period can be aligned with factors such as fuel efficiency regulations, the demand for performance enhancement, engine downsizing, emission control norms, and an increased usage in the military industry.
The forecast period anticipates a steady rise in the automotive turbochargers market size, projecting a growth to $23.01 billion in 2029 at a CAGR of 8.4%. This growth can be attributed to the rising demand for electric turbochargers, fuel-efficient vehicles, high-performance vehicles, commercial vehicles, and hybrid vehicles. Emerging trends include the integration of lightweight materials, twin-scroll turbochargers, 48v electric turbocharging systems, and the adoption of e-boosting technology.
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What is Propelling the Growth of the Automotive Turbochargers Market?
The growing demand for passenger cars is driving the market for automotive turbochargers. Engines equipped with turbochargers have improved power density and high fuel efficiency, facilitating more horsepower while maintaining torque. The rise in purchasing power, low-interest rates in developing economies, and a preference for personal mobility are expected to propel the demand for passenger cars, subsequently increasing demand for automotive turbochargers.
What Are the Primary Segments in the Automotive Turbochargers Market?
1) By Vehicle Type: PCV, LCV, HCV
2) By Technology: VGT Or VNT, Wastegate, Twin-Turbo
3) By Sales Channel: OEM, Aftermarket
4) By Fuel Type: Gasoline, Diesel
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Who are the Major Players in the Automotive Turbochargers Market?
Prominent companies in the automotive turbochargers market include Honeywell International Inc., Borg-Warner Automotive Inc., Mitsubishi Heavy Industries Ltd., IHI Corporation, Continental AG, Bosch Mahle GmbH, Cummins Inc., Delphi Technologies, Precision Turbo & Engine Inc., Turbonetics Inc., and Turbo International Inc., among others.
What Trends are Emerging in the Automotive Turbochargers Market?
Companies in the automotive turbocharger market are concentrating on developing technologically advanced products, such as turbochargers designed for hybrid and non-hybrid vehicles to enhance performance and efficiency.
What is the Current Regional Analysis of the Automotive Turbocharger Market?
Western Europe held the largest share of the automotive turbocharger market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Automotive Turbochargers Market Report 2025 Offer?
The automotive turbocharger refers to a turbine-driven, forced induction device that boosts an internal combustion engine’s power output by forcing extra compressed air into the combustion chamber. The Automotive Turbochargers Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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