Automotive Turbocharger Market worth $18.4 billion by 2025

1. MarketsandMarkets Presents Automotive Turbocharger Market worth $18.4 billion by 2025 https://www.marketsandmarkets.com/Market-Reports/turbochargers-market-919.html

2. The report "Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Component, Fuel Type, Application (Agriculture, Construction), Vehicle (Passenger Car, LCV, Truck & Bus), Aftermarket, Region - Global Forecast to 2025", size is projected to grow at a CAGR of 10.5% over the forecast period, to reachUSD 18.4billion by2025fromUSD 11.1 billion in 2020. Factors such as decreased emission limits in new emission regulations, fuel shift towards gasoline passenger cars & especially towards GDI engines and focused technological advancements in electric turbocharger technology for mild-hybrid vehicles are projected to create a potentialdemand forautomotive turbochargersin the comingyears. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=919 Browse 249 market data Tables and 62 Figures spread through 242 Pages and in-depth TOC on "Automotive Turbocharger Market” 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),

3. Turbo International (US), Kompressorenabu BannewitzGMBH(Germany), Turbo Dynamic Ltd.(UK), FuyuanTurbocharger Co. Ltd.(China), Hunan Tyen Machinery Co. Ltd. (China), Ningbo Motor Industrial Co. Ltd. (China), Calsonic Kansei (Japan). 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 turbocharges, 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. Passenger car is estimated to be the fastest-growing segment in the automotive turbocharger market The passenger car segment is expected as the largest market for automotive turbochargers as it contributes to more than 50% of the global vehicle production. COVID-19 will have a major impact on the production of passenger cars in 2020.

4. Passenger car production, which hit 74 million in 2019, will observe a decline of 15% in 2020. Efforts from various automakers to start vehicle production would help in a steady recovery post-2020. For instance, automakers in China, such as Volkswagen, Nissan, Hyundai, and Honda, have announced the reopening of their plants in the country. In Europe, Toyota, Volkswagen, andAudihaveresumed operations. According to ICCT, the turbocharger technology in the EU has increased the average passenger car enginepowerby30% to97kW, andtheenginedisplacement decreasedby7%, reducing the overall weight of the vehicles, and hence emissions. , With a change in fuel type from diesel to gasoline and advancements in 48V mild-hybrid cars the demand for gasoline and electric turbochargers is projected to grow in the passenger car segment in the coming years. Asia Pacific: The region with the largest demand for automotive turbochargers Asia Pacific countries such as China, Japan, South Korea, and India are the largest vehicle producersglobally. These countries accounted for 49% of theglobalvehicle production in 2019. The global production of vehicles in 2020 will observe a 15% decline due to COVID-19. China, India, and Japan, which account for a large share of the global passenger car production, will observe a dropof 15%, 17%, and14%, respectively, in 2020ascomparedto 2019. Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=919

5. Factors responsible for the steady growth of automotive turbocharger market the post- 2020 recovery of vehicle production are: • Stringent emission norms -China VI, with its limits lower than Euro VI set to be implemented in 2020, and India’s BS-VI standards set to be implemented in 2020 (skipping BS V norms). The increasing popularity of TGDI - 50% of passenger cars are equipped with TGDI, and this rate estimated to grow further in the future. As per SIAM, India is also shifting toward gasoline vehicles with diesel vehicles share dropping to 19% from 50%, further fueling the turbocharger market. Countries like Japan and South Korea have the majority of their passenger cars running on gasoline engines and are leading countries with an active market for wastegate turbochargers. One of the essential drivers to consider is the growing production of mild hybrid vehicles. Other growing economies, such as Thailand and Indonesia, are providing incentives to OEMs to set up their hubs to produce mild-hybrid HEVs for cleaner transportation. Other factors, such as increased fuel prices, will positively affect the turbocharger market. The key OEMs in this region include Brilliance Auto, Shanghai Automotive Industry Corporation (SAIC), Chery Automobile, GeelyAutomobile, HawtaiMotor Group, and Honda Motor Co., Ltd. Hence, Asia Pacific is the largest market for automotive turbocharger • • • Don’t miss out on business opportunities in Automotive Turbocharger Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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