Automotive turbochargers: Key market research findings
- Rise in diesel engine-downsizing
- Increased adoption of twin-turbo technology
Technavio has added a new report on the global automotive turbocharger market to its automotive portolio. The automotive turbocharger market is expected to grow at a CAGR of more than 10% between 2015 and 2019, owing to increase in concerns about fuel efficiency and stringent fuel emission norms. Although EMEA dominates the automotive turbocharger market, APAC is expected to control the market accounting for a market share of 49% during the forecast period. Much of this region’s growth will come from China, which is the largest market for automotive turbochargers.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
Technavio’s market research analysts predict a growing trend in the downsizing of diesel engines in the next four years. OEMs are adopting downsizing to reduce fuel consumption. Downsizing of engines drives the need for turbochargers. These turbochargers help to increase the performance of the engine without any additional burden to the engine. Manufacturers in the aftermarket and distributor segments are expected to scale up investments during the forecast period to meet the growing customer needs in the diesel segment.
“The increasing adoption of two-stage turbocharging or twin turbo technology is an important emerging trend in the automotive turbocharger market over the forecast period. In twin turbo technology, two turbochargers compress the air and transfer it back to the vehicle engines resulting in more power. This market forecast predicts a rising focus on turbo lag among automotive enthusiasts, and a subsequent rise in investments on turbochargers by consumers during the forecast period,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
Leading vendors in the global automotive turbochargers market include BorgWarner, Cummins, Honeywell, IHI, and Mitsubishi. The market is characterized by the presence of well-diversified international, regional, and local players. The local and regional vendors in the market offer cost-effective turbochargers with limited features and functionalities. International players are increasing their presence in many regions, occupying approximately 90% of the global automotive turbocharger market.
A more detailed analysis is available in the Technavio report, Global Automotive Turbocharger Market: Report Analysis 2015-2019.
https://www.technavio.com/%3Cp%3E%3Cu%3E%3Cstrong%3EWe%20can%20customize%…
