The Business Research Company’s report on the Automotive Turbochargers Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the automotive turbochargers market?
The increasing demand for passenger cars is driving the growth of the automotive turbocharger market. Turbocharged engines generally have greater power density and high fuel efficiency, while allowing more horsepower and torque. The increase in purchasing power and low-interest rates in developing economies, along with consumer preference towards personal mobility, is expected to drive the demand for passenger cars, thus increasing demand for automotive turbochargers. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5%, reaching 11.9 million units in 2021.Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1%.
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How has the automotive turbochargers market size evolved, and what are the latest forecasts for its expansion?
The automotive turbochargers market size has grown strongly in recent years. It will grow from $15.47 billion in 2024 to $16.68 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to fuel efficiency regulations, performance enhancement demands, downsizing of engines, emission control standards, increased use in military industry.
The automotive turbochargers market size is expected to see strong growth in the next few years. It will grow to $23.01 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to growing demand for electric turbochargers, increasing demand for fuel-efficient vehicles, rising demand for high-performance vehicles, growing demand for commercial vehicles, increasing demand for hybrid vehicles. Major trends in the forecast period include integration of lightweight materials, development of twin-scroll turbochargers, application of 48v electric turbocharging systems, adoption of e-boosting technology.
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Which major companies dominate the automotive turbochargers market?
Major companies operating 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., Turbo International Inc., ABB Asea Brown Boveri Ltd., Turbo Energy Private Limited, Rotomaster International Inc., Fuyuan Turbocharger Co. Ltd., Hunan Tyen Machinery Co. Ltd., Magnum Performance Turbos Inc., Mahle GmbH, Eaton Corporation, Napier Turbochargers Ltd., OptiCat LLC, Keyuan Industry Trading Co. Ltd., Kelin Motor Vehicle Air Conditioning Co. Ltd., Cimos D. D. Avtomobilska Industrija, Robust Power Inc., Turbotech Pvt. Ltd., Aeristech Ltd., Melet Turbo, Aerocharger Ballistics, Turbosmart Pty Ltd.
What trends will shape the future of the automotive transmission engineering services outsourcing market?
Major companies operating in the automotive turbocharger market are focusing on developing technologically advanced products, such as turbochargers for hybrid and non-hybrid vehicles, to enhance performance and efficiency. Turbochargers are devices that use exhaust gas to spin a turbine, which then compresses incoming air into the engine, increasing its efficiency and power output by allowing more air and fuel to enter the combustion chamber. For instance, in April 2023, Garrett, a turbocharging company, launched the advanced turbochargers. Garrett Motion’s advanced turbochargers are uniquely designed to support hydrogen internal combustion engine (H2-ICE) vehicles, utilizing hydrogen as fuel. This innovative technology is particularly relevant in China, where significant investments are being made in hydrogen fueling infrastructure and green hydrogen initiatives. As a result, there is increasing support for large commercial hydrogen internal combustion engine vehicles (HICEVs), positioning Garrett Motion’s turbochargers as a key player in this emerging market.
Which region dominates the automotive turbochargers market, and what factors contribute to its leadership?
Western Europe was the largest region in the automotive turbocharger market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive turbochargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How is the automotive turbochargers market segmented, and which segment holds the largest share?
The automotive turbochargers market covered in this report is segmented –
1) By Vehicle Type: PCV, LCV, HCV
2) By Technology: VGT Or VNT, Wastegate, Twin-Turbo
3) By Sales Channel: OEM, After market
4) By Fuel Type: Gasoline, Diesel
Subsegments:
1) By PCV (Passenger Car Vehicle): Turbochargers For Gasoline Engines, Turbochargers For Diesel Engines, Twin-Scroll Turbochargers, Variable Geometry Turbochargers (VGT)
2) By LCV (Light Commercial Vehicle): Turbochargers For Diesel Engines, Turbochargers For Gasoline Engines, Heavy-Duty Turbochargers
3) By HCV (Heavy Commercial Vehicle): Turbochargers For Diesel Engines, Turbochargers For Natural Gas Engines, Heavy-Duty Turbochargers With Enhanced Durability
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How is the automotive turbochargers market defined?
The automotive turbocharger refers to a turbine-driven, forced induction device that increases an internal combustion engine’s power output, which is done by forcing extra compressed air into the combustion chamber. Automotive turbochargers are used to improve an engine’s efficiency by increasing the density of the intake gas, thereby allowing more power per engine cycle.
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