Automotive Turbochargers Market Growth, Industry Trends, Demand Factors Report 2024-2033

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.

The main vehicle types in automotive turbochargers include PCV, LCV, and HCV. The passenger commercial vehicle (PCV) market consists of sales of automotive turbocharger solutions by entities (organizations, sole traders, and partnerships) for passenger cars used for carrying passengers and comprising of no more than 8 seats, in addition to the driver’s seat, and not exceeding a maximum mass of 3.5 tons. The light commercial vehicle (LCV) market consists of sales of automotive turbocharger solutions by entities (organizations, sole traders, and partnerships) for light commercial vehicles that are used as commercial carrier vehicles with a vehicle weight of no more than 3.5 metric tons gross. The heavy commercial vehicle (HCV) market consists of sales of automotive turbocharger solutions by entities (organizations, sole traders, and partnerships) for heavy commercial vehicles that are used as carrier vehicles with a gross combination mass (GCM) of over 3.5 metric tons. The technologies used in automotive turbochargers include VGT/VNT, Wastegate, and Twin-Turbo. The sales channels for automotive turbochargers include OEM and aftermarket. The fuel types used by automotive turbochargers include gasoline and diesel.

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

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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