“Automotive Turbochargers
Market: Global Demand Analysis & Opportunity Outlook 2024”
The
global automotive turbochargers market is segmented into technology
such as variable geometry turbocharger,
wastegate, and twin turbo, out of which variable geometry turbocharger segment accounted
for the largest segments in overall automotive
turbochargers market and is projected to grab a considerable CAGR over
the forecast period i.e. 2017-2024. Likely, increasing usage of variable geometry turbocharger
technology due to engine downsizing of the vehicle is believed to flourish the
growth of automotive turbochargers market.
In addition to this, various government
norms regarding vehicle emission across the globe is also anticipated to
intensify the growth of automotive turbochargers market by the end of 2024.
Global automotive turbochargers market is expected to seize a notable
CAGR of 10.2% by 2024. Additionally, growing adoption of diesel vehicles for
transportation is one of the major factors propelling the market of turbochargers. Moreover, the global automotive turbochargers market is anticipated to
account exponential sales by the end of 2024.
The passenger cars segment by
vehicle is projected to dominate the overall market of automotive turbochargers by 2024. In terms of regional platform, Europe
captured the biggest market of automotive turbochargers in 2016 in terms of
revenue. Moreover, Western Europe countries such as U.K., Germany and others
are believed to contributor a considerable share in the Europe turbochargers
market. Apart from this, Asia-Pacific region is the most lucrative market of automotive
turbochargers due to emerging economies.
Increasing Integration of Turbocharger
Growing
usage of turbocharger coupled with engine downsizing to enhance the performance
of the vehicle and to achieve greater fuel economy are believed to be the
dynamic factor behind the rapid growth of automotive turbochargers market
during the forecast period. Moreover, continuous technological advancement in
automotive turbochargers to attain high power is also positively impacting the
growth of automotive turbocharger market.
Supportive Government
Initiatives
Favorable
government initiatives in order to help the key vendor for research and
development activities and various companies are collaborating to provide
better automotive turbochargers such as Honeywell Turbo Technologies has
partnered with Tata to develop first petrol turbocharged engine. These factors
are believed to foster the growth of automotive turbocharger market.
Although,
increasing penetration of electric vehicles and hybrid vehicles are expected to
hamper the growth of automotive turbocharger market during the forecast period.
The
report titled “Automotive Turbochargers Market: Global Demand Analysis &
Opportunity Outlook 2024” delivers
detailed overview of the global automotive
turbocharger market in terms of market segmentation by technology, by fuel,
by vehicle, by end-user and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global automotive turbocharger market which
includes company profiling of BorgWarner, Honeywell Turbo Technologies, Mitsubishi Heavy Industries, IHI Corporation, Continental
AG, Cummins, Eaton Corporation PLC, Bosch Mahle Turbo Systems, Rotomaster and
Turbo Energy PVT LTD. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global automotive
turbocharger market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the
future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
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strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/automotive-turbochargers-market-global-demand-analysis-opportunity-outlook-2024/305
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Info:
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Daniel
U.S.
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