Ocean View, DE -- (SBWire) -- 06/23/2020 --A new Global Market Insights Inc., research report estimates that the global automotive turbocharger market is likely to surpass a valuation of $27 billion by 2026. Increasing demand for better, fuel-efficient engines across light-duty, heavy-duty, and passenger vehicles is the key factor that is expected to fuel global automotive turbocharger market growth in the coming years.
Integration of turbochargers in heavy-duty vehicle engines is helping manufacturers to decrease the amount of harmful emissions while also providing and enhanced power output. Taking January 2019 for instance, Cummins Inc., unveiled its 6.7 liter turbo diesel engine designed for heavy-duty trucks. This new diesel engine has improved Cummins-Holset Variable Geometry turbocharger installed in it along with heavy-duty bearings that help improve vehicle payload capacity.
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Supporting government regulations are playing a major role in boosting the automotive turbocharger market place till 2024. For instance, the sub 4-meter rule in India enables automobile manufacturers to offer a wide range of cars including hatchbacks, sedans, SUVs, and crossovers under length of four meters for benefiting from reduced tax, thereby supporting the industry share over the projected timeframe.
PCVs accounted for a revenue share of around 60% in 2017. This growth is attributed to the increasing sales of SUVs across the globe. Shifting trend towards buying compact SUVs and crossovers owing to smaller footprint along with superior power and ruggedness are boosting the segment share till 2024.
Variable geometry turbochargers will grow considerable at around 8% CAGR over the projected timeframe owing to benefits offered compared to the other counterparts. The ability to significantly alter the aspect ratio depending on the engine requirement is further supporting the segment share over the study timeframe. Further, the combination of multiple pressure ratios at defined engine speeds supporting in improved acceleration positively influences the product adoption till 2024.
Diesel accounted at more than 60% of the overall volume share in 2017. This dominance is attributed to the availability of multiple diesel vehicle models fitted with turbochargers across a diversified price range. Additionally, the improved fuel efficiency along with lower fuel cost compared to its counterparts strengthens the business growth. The availability of higher torque at lower RPM range along with smoother uphill driving experience plays a significant role over the study timeframe.
OEM accounted for more than 90% market share in 2017 owing to the increasing deployment of the product in vehicles across the globe. The manufacturers are developing innovative solutions including electric turbocharging that reduces engine lag and uniform power delivery, thereby provides a positive outlook for the industry expansion.
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Europe automotive turbocharger market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. For instance, Volvo is working on an innovative engine technology that combines turbocharging and supercharging technologies for providing superior power and torque.
Table of Contents (ToC) of the report:
Chapter 4. Automotive turbocharger Market, By Vehicle
4.1. Key trends by vehicle
4.2. PCV
4.2.1. Market estimates and forecast, 2015 – 2026
4.3. LCV
4.3.1. Market estimates and forecast, 2015 – 2026
4.4. HCV
4.4.1. Market estimates and forecast, 2015 – 2026
Chapter 5. Automotive turbocharger Market, By Technology
5.1. Key trends by technology
5.2. VGT/VNT
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. Wastegate
5.3.1. Market estimates and forecast, 2015 – 2026
5.4. Twin turbo
5.4.1. Market estimates and forecast, 2015 – 2026
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-turbocharger-market
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Automotive Turbocharger Market to Cross 27 Bn US-Dollar by 2026 : BorgWarner, Cummins, Federal-Mogul, Honeywell, Linamar, Mitsubishi Heavy Industries, UCAL Fuel Systems