(I-BusinessNews.Com, May 11, 2019 ) According to the new market research report “Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), ICE & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region – Global Forecast to 2025″, The growth of the automotive turbocharger market is influenced by factors such as the increasing production of commercial vehicles where turbochargers are a standard fitment and shift from diesel to gasoline cars owing to emission regulations. Addition to that changing consumer preferences for greater power generating vehicles, increasing use of gasoline turbocharger and stringent emission regulations.
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HEV is projected to have the largest demand for automotive turbochargers in the near future
The growth of the application of turbocharger in HEV will greatly be seen in North America and Europe region due to their advanced state of the art technology and strict emissions norms. Particularly high-end cars such as Lexus ES, and Mercedes E-Class, among others. Growth of the application of turbocharger is more in V6 and V8 engine. Some of them are also equipped with twin turbo. Countries from North America, and Europe have largest market for such high-end cars. Even these regions are providing various incentives and tax rebates for the purchase of HEVs, which is ultimately driving the HEV market in North America and Europe regions.
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Asia Oceania is projected to be the largest and the fastest growing automotive turbocharger market
The Asia Oceania market is estimated to account for the largest share, by value, in 2018. The growth is attributed to upcoming emission regulations such as China 6 in China and BS 6 regulation in India. These regulations will increase the demand for fuel-efficient vehicles and, therefore, will lead the automotive turbocharger market in Asia. To achieve these emissions limits, OEMs will have to install turbochargers in vehicles. As Asia Oceania is dominated by small cars production, OEMs are focusing on engine downsizing with turbocharger application.
Browse and in-depth TOC on Automotive Turbocharger Market
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Electric turbocharger market is expected to have the fastest growth in automotive turbocharger market, by technology
Electric turbochargers are turbochargers using an electric motor to overcome the time lag of the exhaust gas-driven turbine. An electric turbocharger is a new technology and can be operational only with 48-volt architecture. Cars based on 48-volt architecture are expected to get commercialized by 2020 as per MarketsandMarkets analysis. There are many developments going on across the world. For instance, DENSO has announced it will invest approximately USD 1.6 billion from 2018 to late 2020 – to support its aggressive development and production of electrified automotive products, systems and technologies
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Automotive Turbocharger Market Key Players
Automotive turbocharger market is dominated by manufacturers such as Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).
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