Los Angeles, CA -- (SBWire) -- 01/08/2020 --The global automotive turbochargers market is anticipated to show healthy growth in future as awareness about green automotive technology and focus on reducing carbon dioxide emissions increase. Turbochargers are considered to be effective in manufacturing low-emission, high-performance automobiles. High use of turbochargers in premium vehicles and gradually increasing penetration of electric turbochargers in the automotive industry are likely to create profit-making opportunities for manufacturers. Players competing in the global automotive turbochargers market are predicted to develop strategies to improve their operational performance, market footprint, and product differentiation. Signing merger and acquisition and partnership agreements could be one of the business strategies used in the global automotive turbochargers market.
Increasing adoption of turbo technology for luxury vehicles and high-performance sports cars is expected to promise robust growth to the global automotive turbochargers market. In October 2019, German automobile company, BMW announced about its new M8 Competition Gran Coupe and M8 Gran Coupe luxury car models. According to BMW, these car models feature a 4.4-litre V8 engine with M TwinPower Turbo technology.
Players to Invest in Innovation and Research and Development to Stay Competitive
The report covers key players of the global automotive turbochargers market such as Honeywell, Weifang Fuyuan, BorgWarner, Weifu Tianli, IHI, Hunan Tyen, MHI, Continental, Cummins, and Bosch Mahle. Companies operating in the global automotive turbochargers market are likely to focus more on innovation and research and development to improve their revenue growth.
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Market Segments
By Product Type
? Mono-turbo
? Twin-turbo
By Application
? Sedan
? SUV and Pickup
? Others
Based on product type, the global automotive turbochargers market is segmented into twin-turbo and mono-turbo. Automotive manufacturers are observed to mainly use twin-turbo technology in luxury and top-of-the-line cars. Known for significantly increasing the turbocharging effect, twin-turbo technology is commonly used in V-engines. The twin-turbo segment is expected to gain growth in the global automotive turbochargers market as the demand for high-speed and premium cars increases. On the basis of application, the global automotive turbochargers market is segmented into SUV and pickup, sedan, and others.
By Region
According to market experts, the global automotive turbochargers market is anticipated to witness strong growth of Europe in the coming years. This could be due to the implementation of strict regulations and policies related to vehicle emissions such as carbon dioxide, and fuel economy. The automotive turbochargers market in Europe is also expected to benefit from the emergence of electric turbochargers, which could be used in battery or other electric vehicles. On the other hand, Asia Pacific is predicted to register a faster CAGR during the forecast period 2019-2025. Expansion of the automotive industry and high use of gasoline vehicles could be among top growth drivers of the Asia Pacific automotive turbochargers market.
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Automotive Turbochargers Market by Type, Application, and Geography – Trends & Forecasts to 2019-2025