Turbocharger Market was valued at $16.13 Billion in 2022, and is projected to reach $24.23 Billion by 2030, registering a CAGR of 5.3%.
Turbochargers minimise pollution and improve fuel efficiency while also increasing engine power output by lowering the engine's size. Various emission standards imposed by governments and organisations, such as EURO-6 in the European Union, EPA in North America, and Bharat Stage Emission Criteria in India, have resulted in car manufacturers in their respective regions adhering to these standards. All of these regulations aim to reduce carbon dioxide (CO2), nitrogen monoxide (NOx), and non-methane hydrocarbon emissions (NMHC). Emission requirements have prompted the development of innovative technology aimed at reducing dangerous gas emissions from vehicles' engines. One such device that is being used to meet these pollution standards is the turbocharger.
Through the introduction of highly pressured air into the engines, turbochargers play a crucial role in increasing fuel efficiency by up to 20% while maintaining output and torque. Furthermore, it aids in the increase of power output by recovering heat energy discharged by the engine.
The usage of turbos in automobile engines enables for light pedal action acceleration and driving with low engine loads. Furthermore, it is one of the most important components in lowering particulate matter emissions, resulting in cleaner exhaust. Because of the aforementioned attributes, the vehicle consumes less gasoline and has a low environmental impact.
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Off-highway vehicles, such as agricultural tractors and construction trucks, frequently use turbochargers. According to industry analysts, high horsepower tractors feature integrated turbochargers, whilst low horsepower tractors do not. The overhead valve engine (OHV) is predicted to perform properly over the next 4-5 years as a result of electrification. In the coming years, it is unlikely to have an impact on demand for OHV turbochargers.
Global Turbocharger Market: Segmentations
By Key Players
- Continental Ag
- Borgwarner Inc.
- Mitsubishi Heavy Industries
- Ihi Corporation
- Bmts Technology
- Cummins Inc.
- Abb
- Tel
- Delphi Technologies (Borgwarner)
- Rotomaster International
- Precision Turbo & Engine Inc
- Turbonetics Inc.
- Turbo International
- Kompressorenbau Bannewitz Gmbh
- Turbo Dynamics Ltd.
- Cimos
- Marelli Corporation
- Weifang Fuyuan Turbocharger Co., Ltd.
- Hunan Tyen Machinery Co., Ltd.
- Ningbo Motor Industrial Co., Ltd.
Based on Technology
- Twin-turbo Technology
- Two Stage Series Turbocharger
- Two Stage Parallel Turbocharger
- Twin Scroll Turbocharger
- Wastegate Technology
- Variable Geometry Turbocharger (Vgt/Vnt)
- Electric Turbocharger
- Free-Floating Turbocharger
- Double Axle Turbocharger
- Sequential Turbo System
- Quad Turbos
- Variable Vane Turbos
- Others
Based on Types
• Radial Flow Turbocharger
• Mechanical Flow Turbocharger
• Axial Flow Turbocharger
• Exhaust Gas Turbocharger
Based on Component
• Turbine
• Housing
• Compressor
Based on Actuators
• Hydraulic
• Pneumatic
• Electric
Based on Material
• Cast Iron
• Aluminium
• Others
Based on Fuel type
• Gasoline
• Diesel
• Alternate Fuel or CNG
Based on End-User
• Original Equipment Manufacturer
• Aftermarket
Based on Application
Ships and Aircrafts
Passenger Vehicles
• Hatchbacks
• Sedans
• Utility Vehicles
Light Commercial Vehicles
• Buses and coaches
• Trucks
• Off-road vehicles
• Agriculture Tractors and Equipment
• Construction and Mining Equipment
• Industrial Vehicles
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Covid-19 Impact on Turbocharger Market
The Covid-19 has had a negative impact on the turbocharger industry. The reduction in use of automobiles, both passenger and commercial vehicles, during the pandemic period has had a detrimental influence on turbocharger market share due to restricted mobility and imposed lockdown restrictions around the world.
Businesses all over the world are witnessing the necessity for digital management of their operations during this pandemic. During the Covid-19 pandemic, the requirement for installation of technologies such as the industrial internet of things (IIOT), which will enable real-time monitoring of turbocharger production processes, is predicted to have a beneficial impact on turbocharger market growth.
Key Questions Answered in this Report:
• How has the global Turbocharger market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global Turbocharger market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the nature?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global Turbocharger market and who are the key players?
• What is the degree of competition in the industry?
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