Global Turbo Charger Market - Analysis of Growth, Trends and Forecast (2022 - 2030)
Many car manufacturers consider turbochargers to be a viable option to keep fossil fuel engines cleaner, thus, increasing the share of turbocharged vehicles every year. At the current pace, about half of the cars rolling out of production are expected to be turbocharged by 2022; thereby, influencing the automakers and the tier 1 suppliers to introduce more technologically advanced products. The market for turbochargers is estimated to reach USD 10 billion by 2018.
Recently, Honeywell introduced Variable Nozzle Technology turbocharger, which is an advanced variable geometry turbocharger. With its advanced valve design, the turbocharger offers better performance at, both, high and low-speed conditions. Moreover, the company has launched a two-stage diesel engine turbocharger with, both, variable geometry and waste gate technology, in order to enhance the performance, and reduce emissions from the engine.
CLEANER DIESEL ENGINES
Automotive emission regulation is the major factor that is fuelling the introduction of cleaner and low-emission vehicles among automakers. Turbocharger is the component that is forcing car industry to make engines compliant to the stringent emission standards. The emission regulation authorities, who focus on cutting down the CO2 emission, are replacing existing naturally aspirated engines with turbocharged engines. Though other technologies, such as EGC, SCR, etc., are focusing on emission reduction, the emission standards are getting tougher generation after generation, thus, forcing carmakers to opt for turbocharged engines. The dependence of transportation industry on diesel engines, especially for heavy-duty performances, is a primary driver for the turbocharger market.
INCREASING SALES ALTERNATIVE ENERGY VEHICLES
The electric vehicles, which were considered as an impractical alternative to the fossil fuel engines, are witnessing a global demand. These vehicles registered almost 20,000 sales in 2012 and are expected to reach one million in 2017. The growing electric vehicle industry is a great threat to the fossil fuel-based power generators and the dependent automotive turbochargers market. Moreover, governmental incentives, taken for the electric vehicles, are helping auto industry in their shift from combustion engines to electricity powered vehicles. Though electric vehicles are not a viable alternative to the heavy duty vehicles, the shift in the passenger and light commercial vehicle segment is expected to witness a considerable growth in the turbochargers market.
GEOGRAPHICAL SCENARIO
Emission Regulation is the major factor, which is driving the turbocharger market. Though most of the countries are concerned about the environmental effects of the automotive emissions, regions like Europe and North America are focusing on emission regulations.
The Euro standards are considered to be the toughest and are followed in countries such as China, and India. These stringent Euro standards are the reasons for vehicles, in the European region, to be turbocharged. Almost every 2 out of 3 vehicles in Europe are turbocharged and is expected to be 3 out of every 4, by 2022. China, owing to its overriding environmental concerns, is poised to be the fastest growing market for turbochargers, followed by India.
Many established manufacturers are planning to cease the production of naturally aspirated engines, thus creating an opportunity for the turbo system industry.
Major Players: HONEYWELL, BORGWARNER and IHI CSI amongst others.
Reasons to Purchase this Report:
• Provides latest insights into the Indian automotive industry.
• Analyzes the market scenario with the help of Porter’s Five Forces Analysis.
• Forecasts the market value by assessing the impact of the market drivers and constraints.
• Analysis of influence of stringent emission norms on the turbo charger market
• Impact of growth in electric vehicle sales impact the turbo charger market.
• 3 months analyst support, along with the Market Estimate Sheet (in excel).
Report Customization and Benefits:
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
Recently, Honeywell introduced Variable Nozzle Technology turbocharger, which is an advanced variable geometry turbocharger. With its advanced valve design, the turbocharger offers better performance at, both, high and low-speed conditions. Moreover, the company has launched a two-stage diesel engine turbocharger with, both, variable geometry and waste gate technology, in order to enhance the performance, and reduce emissions from the engine.
CLEANER DIESEL ENGINES
Automotive emission regulation is the major factor that is fuelling the introduction of cleaner and low-emission vehicles among automakers. Turbocharger is the component that is forcing car industry to make engines compliant to the stringent emission standards. The emission regulation authorities, who focus on cutting down the CO2 emission, are replacing existing naturally aspirated engines with turbocharged engines. Though other technologies, such as EGC, SCR, etc., are focusing on emission reduction, the emission standards are getting tougher generation after generation, thus, forcing carmakers to opt for turbocharged engines. The dependence of transportation industry on diesel engines, especially for heavy-duty performances, is a primary driver for the turbocharger market.
INCREASING SALES ALTERNATIVE ENERGY VEHICLES
The electric vehicles, which were considered as an impractical alternative to the fossil fuel engines, are witnessing a global demand. These vehicles registered almost 20,000 sales in 2012 and are expected to reach one million in 2017. The growing electric vehicle industry is a great threat to the fossil fuel-based power generators and the dependent automotive turbochargers market. Moreover, governmental incentives, taken for the electric vehicles, are helping auto industry in their shift from combustion engines to electricity powered vehicles. Though electric vehicles are not a viable alternative to the heavy duty vehicles, the shift in the passenger and light commercial vehicle segment is expected to witness a considerable growth in the turbochargers market.
GEOGRAPHICAL SCENARIO
Emission Regulation is the major factor, which is driving the turbocharger market. Though most of the countries are concerned about the environmental effects of the automotive emissions, regions like Europe and North America are focusing on emission regulations.
The Euro standards are considered to be the toughest and are followed in countries such as China, and India. These stringent Euro standards are the reasons for vehicles, in the European region, to be turbocharged. Almost every 2 out of 3 vehicles in Europe are turbocharged and is expected to be 3 out of every 4, by 2022. China, owing to its overriding environmental concerns, is poised to be the fastest growing market for turbochargers, followed by India.
Many established manufacturers are planning to cease the production of naturally aspirated engines, thus creating an opportunity for the turbo system industry.
Major Players: HONEYWELL, BORGWARNER and IHI CSI amongst others.
Reasons to Purchase this Report:
• Provides latest insights into the Indian automotive industry.
• Analyzes the market scenario with the help of Porter’s Five Forces Analysis.
• Forecasts the market value by assessing the impact of the market drivers and constraints.
• Analysis of influence of stringent emission norms on the turbo charger market
• Impact of growth in electric vehicle sales impact the turbo charger market.
• 3 months analyst support, along with the Market Estimate Sheet (in excel).
Report Customization and Benefits:
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
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