The automotive turbochargers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Turbochargers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive turbochargers market size has grown strongly in recent years. It will grow from $14.46 billion in 2023 to $15.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. 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 $21.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. 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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Scope Of Automotive Turbochargers Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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%.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The automotive turbochargers market covered in this report is segmented –
1) By Vehicle Type: PCV, LCV, HCV
2) By Technology: VGT/VNT, Wastegate, Twin-Turbo
3) By Sales Channel: OEM, Aftermarket
4) By Fuel Type: Gasoline, Diesel
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Regional Insights –
Western Europe was the largest region in the automotive turbocharger market in 2023. 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
Key Companies –
Major companies operating in the automotive turbochargers market report are 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.
Table of Contents
1. Executive Summary
2. Automotive Turbochargers Market Report Structure
3. Automotive Turbochargers Market Trends And Strategies
4. Automotive Turbochargers Market – Macro Economic Scenario
5. Automotive Turbochargers Market Size And Growth
…..
27. Automotive Turbochargers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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