Northbrook, IL -- (SBWIRE) -- 04/12/2021 -- The Global Automotive Turbocharger Market is size estimated to be USD 11.1 billion in 2020 and projected to reach USD 18.4 billion by 2025, at a CAGR of 10.5%, from 2020 and 2025. Decreased limits of pollutants in upcoming emission regulations need for higher power & better fuel efficiency are the key factors that are projected to drive the demand for automotive turbochargers globally.

The automotive turbocharger market is dominated by manufacturers such Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany), Bosch Mahle (Germany), Cummins (US), ABB (Switzerland), TEL (India), and Delphi Technologies (UK), Rotomaster International (Canada), Precision Turbo & Engine INC(US), Turbonetics(US), Turbo International (US), Kompressorenabu Bannewitz GMBH(Germany), Turbo Dynamic Ltd.(UK), Fuyuan Turbocharger Co. Ltd.(China), Hunan Tyen Machinery Co. Ltd. (China), Ningbo Motor Industrial Co. Ltd. (China), Calsonic Kansei (Japan).

OPPORTUNITIES: Electric turbochargers will give a boost to the future demand for turbochargers

Electric turbochargers offer more power and better fuel efficiency because of the elimination of the turbo lag. It offers various benefits and fewer technical challenges. It also results in less maintenance and cooling oil requirements. Because of the multiple benefits e-turbo has to offer and the increasing demand for better fuel efficiency and power output, it is going to have deeper market penetration in the coming years.

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Increase in demand for gasoline engines in light-duty vehicles to drive the market for gasoline turbochargers

The diesel turbocharger market is matured because all commercial vehicles are mostly diesel-powered, and almost all of them are equipped with turbochargers. Thus, the demand for gasoline turbochargers is growing at a rapid rate. The adoption of TGDI in gasoline vehicles has increased the market for gasoline turbochargers, and stringent emission norms will drive the market further. With growing stringency in emission regulations, OEMs are also shifting toward CNG or alternate fuel vehicles, even in heavy commercial vehicles. Though the penetration of these alternative fuel vehicles is limited, benefits, such as better fuel efficiency, cleaner energy, and lower cost than traditional fuels, are expected to drive the demand for these vehicles in the near future. This would also shift the turbocharger demand.

The wastegate turbocharger type is estimated to hold the largest share in the market

Wastegate turbochargers are expected to hold the largest share (in terms of volume) in 2020, of the total turbochargers market. Wastegate turbochargers, being more economical than VGT type, Asia Oceania is estimated to showcase the most significant demand for this type of turbochargers, as the region prefers economic passenger cars (especially in countries such as China and India). However, the developed areas of the world are mostly using the advanced & comparatively expensive VGT type. Currently, the installation rate for VGT is lower in Asia. However, owing to its better efficiency (than wastegate turbos) and new emission regulations, which are expected to be introduced in India and China in the coming years, the demand for VGT is likely to increase in Asian countries post-2020.

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Agriculture tractor is projected to be the fastest-growing segment for OHV turbochargers

Turbochargers find indispensable applications in off-highway vehicles such as construction vehicles and agricultural tractors. According to industry experts, low HP tractors do not have turbochargers installed, whereas almost all high HP tractors are equipped usually with turbochargers. Alternatively, nearly all construction equipment are expected to be equipped with turbochargers. As electrification in OHV equipment is estimated to be limited at least till the next 4-5 years, this is not likely to impact the demand for OHV turbochargers in the near future. The construction equipment market has witnessed substantial growth, particularly in emerging economies such as China and India.