Turbochargers Market Share is projected to reach USD 50.36 Billion by 2030, growing at a CAGR of 7%: Straits Research

According to the European Automobile Manufacturers Association, the commercial vehicle registrations across the European Union saw an increase of 5.7% in December 2019. In 2021, the global market for turbochargers was valued at USD 27,350 million, and it is estimated to reach USD 50,365 million by 2030, with a CAGR of 7% during the forecast period (2022–2030).

Pune, INDIA


New York, United States, June 21, 2022 (GLOBE NEWSWIRE) -- From 2022 to 2030, the global turbochargers market is expected to grow rapidly. A turbocharger is a turbine-driven driven induction system that boosts the energy conversion efficiency of an internal combustion engine by propelling additional air into the combustion chambers. Turbochargers are an excellent solution since they convert the exhaust gas produced by the expended fuel energy into power. Furthermore, the technology reduces CO2 emissions, improves fuel efficiency, and improves engine efficiency over non-turbocharged engines.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/turbocharger-market/request-sample 


Increasing Need for High Fuel Economy and Stringent Laws about Vehicular Emissions Driving the Global Turbochargers Market

Turbochargers are an excellent solution since they convert the exhaust gas produced by the expended fuel energy into power. Turbochargers have grown in popularity among vehicle manufacturers in recent years. The technology reduces CO2 emissions, improves fuel efficiency, and improves over non-turbocharged engines. Reduction in carbon emissions from vehicles assists manufacturers in meeting increasingly stringent norms and regulations, hence boosting demand. Currently, turbocharged engines are attracting increasingly environmentally conscious drivers due to their performance improvements and excellent green certifications.


Driving Demand for Electric Vehicles and Electric Turbochargers Offer Lucrative Opportunities for Global Turbochargers Market

The automobile industry is embracing electric and hybrid car technologies, and new models are set to hit the street in the years ahead. Automakers are making significant investments in extending battery range while lowering hybrid vehicle prices. Automakers are looking for ways to incorporate turbo technology into new vehicle types, such as battery-powered vehicles, hybrids, and electrics. Turbochargers play an essential function in vehicle engines and are projected to increase engine mix. 

Turbochargers and similar technologies are commonly utilized to recapture the energy and offer a supplementary power source for electric vehicles. Consumers' range concerns and inadequate infrastructure impede the market for battery-powered automobiles. The introduction of a turbo range extender for backup scenarios, on the other hand, is intended to reduce EV range concerns and fuel market expansion.


Buy Now Full Report @ https://straitsresearch.com/buy-now/turbocharger-market/global/ 


Key Highlights

  • In 2021, the global market for turbochargers was valued at USD 27,350 million, and it is estimated to reach USD 50,365 million by 2030, with a CAGR of 7% during the forecast period (2022–2030).
  • Based on fuel type, the global turbochargers market was categorized into diesel, gasoline, and others. Diesel accounts for the largest segment in the global turbocharger market by fuel type. It is estimated to reach USD 26,920 million at a CAGR of 6.8% by 2030. 
  • Based on technology, the market for turbochargers is segmented into wastegate technology, variable geometry technology, twin-turbo technology, and others. The wastegate technology held the largest market share of more than 38%. It is estimated to reach USD 18,255 million at a CAGR of 6.3% by 2030.
  • Based on the sales channel, the market has been categorized into aftermarket and OEM. The aftermarket segment accounted for the largest market share of more than 85%, and it is predicted to reach USD 6,895 million at a CAGR of 6.5% by 2030. 
  • Based on application, the global market for turbochargers is categorized into passenger cars, light commercial vehicles, heavy commercial vehicles, agriculture, aircraft and marine, and others. The passenger car segment is witnessing the fastest growth during the forecast period. It held more than 42% market share in 2021. It is expected to reach USD 22,245 million at a CAGR of 7.4% by 2030. 


Regional Insights

The global turbochargers market has been researched throughout North America, Europe, South, Central America, and the Caribbean, Asia-Pacific, and the Middle East and Africa. Europe is expected to have the most significant market share in the worldwide turbocharger industry. European nations such as Germany, France, Italy, and Spain lead the total market and are predicted to rise rapidly during the projection period. It is expected to reach USD 20,975 million at a CAGR of 6.4% by 2030.

In 2019, the European Union exported 5 million passenger cars with USD 139.3 billion. Furthermore, the growing demand for electric and hybrid vehicles also positively impacts turbochargers' growth in European region. As per the International Council on Clean Transportation, hybrid electric vehicles (HEV) in the EU were 3% of all new car sales in 2018, projected to grow further. In addition to this, the growing production of passenger cars and an increase in exports also augment the demand for turbochargers in this region.

Asia-Pacific is expected to reach a value of USD 5,840 million at a CAGR of 9.8% by 2030. Major automobile-producing countries in the Asia-Pacific are China, Japan, India, and South Korea, with China being the leading one. With a transition in producers' focus to manufacture in this region due to cheap labor and reduced cost, the region has a more significant presence of foremost automobile manufacturers, which has resulted in large manufacturing, revenues, and sell of automobiles in this region's demand for turbochargers.

In addition to this, the use of turbochargers in industries such as mining, off-shore drilling, and off-highway (heavy-duty construction, agricultural) are also augmenting the growth of this region in the global turbocharger market. Moreover, developing economies stress cleaner vehicles such as hybrid and electric vehicles, supporting the development of the turbocharger market in the Asia-Pacific.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/turbocharger-market/request-sample 


Competitive Analysis of the Global Turbocharger Market –

  • BorgWarner Inc
  • Honeywell International Inc.
  • IHI Corporation
  • Mitsubishi Heavy Industries Ltd
  • BMTS Technology GmbH & Co. KG
  • Continental AG
  • ABB Ltd
  • Marelli Holdings Co Ltd
  • Cummins Inc.
  • Eaton Corporation
  • Garrett Motion Inc
  • Hartzell Engine Technologies LLC
  • MAN Energy Solutions
  • Precision Turbo & Engine Inc
  • Turbo Dynamics Ltd

  

Global Turbocharger Market: Segmentation

By Fuel Type

  • Diesel
  • Gasoline
  • Others

By Technology

  • Wastegate Technology
  • Variable Geometry Technology
  • Twin-turbo Technology
  • Others

By Sales Channel

  • Aftermarkets
  • OEMs

By Application

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Agriculture
  • Aircraft and Marine
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Central, South America, and the Caribbean
  • The Middle East and Africa

  

Market News

  • In October 2020, Tanboress Technology Limited became the only company to develop Bi-Turbo. Tanboress Technology Limited is a professional producer of turbochargers and turbo spare parts for automobiles and diesel trucks or equipment. It has its factory, which means that they have more testing equipment than other companies and ensure good quality products. Moreover, the company provides various product portfolios, including turbochargers, turbocharger parts, electric actuators, and electric actuator parts.
  • In September 2020, ABB announced installing its state-of-the-art engine diagnostics software ABB Ability™ Tekomar XPERT on 12 bulk carriers operated by Shanghai Ming Wah Shipping Co (Shang Ming Wah).In October 2020, Tanboress Technology Limited became the only company to develop Bi-Turbo. 


Why rely on the traditional approach to study the market when you have a concise report to make your work easy?

We at Straits Research produce high-quality, authenticated, and genuine market reports with in-depth analysis to study each and every aspect of the global market.

With our reports, understand the market better through the latest versions of data presentation, unlike the conventional excel sheets and data pointers.

Study the market happenings in a more dramatic and exciting way through interactive dashboards and graphical representations, which will make you understand the market easily with approximate facts and figures.

Visit Straits Research to get a FREE Sample Report and know-how we interactively present the data, unlike the traditional sheets with immense data that makes it havoc of a task to understand.


TABLE OF CONTENT

1          Introduction

1.1       Market Definition

1.2       Market Scope

2          Research Methodology

2.1       Primary Research

2.2       Research Methodology

2.3       Assumptions & Exclusions

2.4       Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1       Report Segmentation & Scope

4.2       Value Chain Analysis: Turbocharger Market

4.2.1   Vendor Matrix

4.3       Key Market Trends

4.3.1   Drivers

4.3.2   Restraints

4.3.3   Opportunities

4.4       Porter’s Five Forces Analysis

4.4.1   Bargaining Power of Suppliers

4.4.2   Bargaining Power of Buyers

4.4.3   Threat of Substitution

4.4.4   Threat of New Entrants

4.4.5   Competitive Rivalry

4.5       Environmental & Regulatory Landscape

4.6       Forecast Factors & Relevance of Impact

4.7       Macro-Economic & Geopolitical Scenario

4.8       Parent Market Overview

4.9       Technology Landscape

4.10    Market Share Analysis

4.11    Potential Venture Analysis

4.12    Regional Price Trends

4.13    Raw Material Trends

4.14    Covid-19 Impact Analysis   

4.14.1 Pre Covid-19 Market Scenario Analysis    

4.14.2 Post Covid-19 Market Scenario Analysis  

4.14.3 Measures Taken by Top Players     

4.14.4 Quarterly Market Revenue and Growth Forecast Till 2021

4.15    Cost Structure Analysis

4.15.1 Labor Cost

4.15.2 Consumables

4.15.3 Maintenance Cost

5          Fuel Type Overview

5.1       Introduction

5.1.1   Market Size & Forecast (Value & Volume)

5.2       Diesel

5.2.1   Market Size & Forecast (Value & Volume)

5.3       Gasoline

5.3.1   Market Size & Forecast (Value & Volume)

5.4       Others

5.4.1   Market Size & Forecast (Value & Volume)

6          Technology Overview

6.1       Introduction

6.1.1   Market Size & Forecast (Value & Volume)

6.2       Wastegate Technology

6.2.1   Market Size & Forecast (Value & Volume)

6.3       Variable Geometry Technology

6.3.1   Market Size & Forecast (Value & Volume)

6.4       Others

6.4.1   Market Size & Forecast (Value & Volume)

7          Sales Channel Overview

7.1       Introduction

7.1.1   Market Size & Forecast (Value & Volume)

7.2       OEMs

7.2.1   Market Size & Forecast (Value & Volume)

7.3       Aftermarket

7.3.1   Market Size & Forecast (Value & Volume)

8          Application Overview

8.1       Introduction

8.1.1   Market Size & Forecast (Value & Volume)

8.2       Passenger Cars

8.2.1   Market Size & Forecast (Value & Volume)

8.3       Light Commercial Vehicles

8.3.1   Market Size & Forecast (Value & Volume)

8.4       Heavy Commercial Vehicles

8.4.1   Market Size & Forecast (Value & Volume)

8.5       Agriculture

8.5.1   Market Size & Forecast (Value & Volume)

8.6       Aircrafts & Marine

8.6.1   Market Size & Forecast (Value & Volume)

8.7       Others

8.7.1   Market Size & Forecast (Value & Volume)

9          Regional Overview

9.1      Introduction

9.1.1   Market Size & Forecast (Value & Volume)

9.2      North America

9.2.1   Economic Overview

9.2.2   Market Scenario

9.2.3   The U.S.

9.2.3.1            By Fuel Type

9.2.3.2            By Technology

9.2.3.3            By Sales Channel

9.2.3.4            By Application

9.2.4   Canada

9.2.4.1            By Fuel Type

9.2.4.2            By Technology

9.2.4.3            By Sales Channel

9.2.4.4            By Application

9.2.5   Mexico

9.2.5.1            By Fuel Type

9.2.5.2            By Technology

9.2.5.3            By Sales Channel

9.2.5.4            By Application

9.3      Central and South America and Caribbean

9.3.1   Economic Overview

9.3.2   Market Scenario

9.3.3   Brazil

9.3.3.1            By Fuel Type

9.3.3.2            By Technology

9.3.3.3            By Sales Channel

9.3.3.4            By Application

9.3.4   Argentina

9.3.4.1            By Fuel Type

9.3.4.2            By Technology

9.3.4.3            By Sales Channel

9.3.4.4            By Application

9.3.5   Columbia

9.3.5.1            By Fuel Type

9.3.5.2            By Technology

9.3.5.3            By Sales Channel

9.3.5.4            By Application

9.3.6   Rest of Central and South America and Caribbean

9.3.6.1            By Fuel Type

9.3.6.2            By Technology

9.3.6.3            By Sales Channel

9.3.6.4            By Application

9.4      Europe

9.4.1   Economic Overview

9.4.2   Market Scenario

9.4.3   Germany

9.4.3.1            By Fuel Type

9.4.3.2            By Technology

9.4.3.3            By Sales Channel

9.4.3.4            By Application

9.4.4   France

9.4.4.1            By Fuel Type

9.4.4.2            By Technology

9.4.4.3            By Sales Channel

9.4.4.4            By Application

9.4.5   The U.K.

9.4.5.1            By Fuel Type

9.4.5.2            By Technology

9.4.5.3            By Sales Channel

9.4.5.4            By Application

9.4.6   Italy

9.4.6.1            By Fuel Type

9.4.6.2            By Technology

9.4.6.3            By Sales Channel

9.4.6.4            By Application

9.4.7   The Rest of Europe

9.4.7.1            By Fuel Type

9.4.7.2            By Technology

9.4.7.3            By Sales Channel

9.4.7.4            By Application

9.5      Asia-Pacific (APAC)

9.5.1   Economic Overview

9.5.2   Market Scenario

9.5.3   China

9.5.3.1            By Fuel Type

9.5.3.2            By Technology

9.5.3.3            By Sales Channel

9.5.3.4            By Application

9.5.4   Japan

9.5.4.1            By Fuel Type

9.5.4.2            By Technology

9.5.4.3            By Sales Channel

9.5.4.4            By Application

9.5.5   India

9.5.5.1            By Fuel Type

9.5.5.2            By Technology

9.5.5.3            By Sales Channel

9.5.5.4            By Application

9.5.6   Australia

9.5.6.1            By Fuel Type

9.5.6.2            By Technology

9.5.6.3            By Sales Channel

9.5.6.4            By Application

9.5.7   South Korea

9.5.7.1            By Fuel Type

9.5.7.2            By Technology

9.5.7.3            By Sales Channel

9.5.7.4            By Application

9.5.8   Rest of APAC

9.5.8.1            By Fuel Type

9.5.8.2            By Technology

9.5.8.3            By Sales Channel

9.5.8.4            By Application

9.6      The Middle East

9.6.1   Economic Overview

9.6.2   Market Scenario

9.6.3   Saudi Arabia

9.6.3.1            By Fuel Type

9.6.3.2            By Technology

9.6.3.3            By Sales Channel

9.6.3.4            By Application

9.6.4   The UAE

9.6.4.1            By Fuel Type

9.6.4.2            By Technology

9.6.4.3            By Sales Channel

9.6.4.4            By Application

9.6.5   Qatar

9.6.5.1            By Fuel Type

9.6.5.2            By Technology

9.6.5.3            By Sales Channel

9.6.5.4            By Application

9.6.6   Oman

9.6.6.1            By Fuel Type

9.6.6.2            By Technology

9.6.6.3            By Sales Channel

9.6.6.4            By Application

9.6.7   Turkey

9.6.7.1            By Fuel Type

9.6.7.2            By Technology

9.6.7.3            By Sales Channel

9.6.7.4            By Application

9.6.8   The Rest of the Middle East

9.6.8.1            By Fuel Type

9.6.8.2            By Technology

9.6.8.3            By Sales Channel

9.6.8.4            By Application

9.7      Africa

9.7.1   Economic Overview

9.7.2   Market Scenario

9.7.3   Nigeria

9.7.3.1            By Fuel Type

9.7.3.2            By Technology

9.7.3.3            By Sales Channel

9.7.3.4            By Application

9.7.4   South Africa

9.7.4.1            By Fuel Type

9.7.4.2            By Technology

9.7.4.3            By Sales Channel

9.7.4.4            By Application

9.7.5   The Rest of Africa

9.7.5.1            By Fuel Type

9.7.5.2            By Technology

9.7.5.3            By Sales Channel

9.7.5.4            By Application

10        Competitive Landscape — Manufacturers & Suppliers

10.1    Competition Dashboard

10.2    Industry Structure

10.3    Refone Auto Power Co Ltd

10.3.1 Business Overview

10.3.2 Financial Performance

10.3.3 Recent Developments

10.3.4 Product Portfolio

10.4    Rotomaster International

10.4.1 Business Overview

10.4.2 Financial Performance

10.4.3 Recent Developments

10.4.4 Product Portfolio

10.5    Tanboress Technology Limited

10.5.1 Business Overview

10.5.2 Financial Performance

10.5.3 Recent Developments

10.5.4 Product Portfolio

10.6    BorgWarner Inc.

10.6.1 Business Overview

10.6.2 Financial Performance

10.6.3 Recent Developments

10.6.4 Product Portfolio

10.7    BMTS Technology GmbH & Co. KG

10.7.1 Business Overview

10.7.2 Financial Performance

10.7.3 Recent Developments

10.7.4 Product Portfolio

10.8    Continental AG

10.8.1 Business Overview

10.8.2 Financial Performance

10.8.3 Recent Developments

10.8.4 Product Portfolio

10.9    Cummins Inc.

10.9.1 Business Overview

10.9.2 Financial Performance

10.9.3 Recent Developments

10.9.4 Product Portfolio

10.10  Eaton Corporation

10.10.1Business Overview

10.10.2Financial Performance

10.10.3Recent Developments

10.10.4Product Portfolio

10.11  Garrett Motion Inc.

10.11.1Business Overview

10.11.2Financial Performance

10.11.3Recent Developments

10.11.4Product Portfolio

10.12  Turbo Energy Private Limited

10.12.1Business Overview

10.12.2Financial Performance

10.12.3Recent Developments

10.12.4Product Portfolio

10.13  Turbonetics, Inc. (Wabtec Corporation)

10.13.1Business Overview

10.13.2Financial Performance

10.13.3Recent Developments

10.13.4Product Portfolio

10.14  Napier Turbochargers Ltd

10.14.1Business Overview

10.14.2Financial Performance

10.14.3Recent Developments

10.14.4Product Portfolio

10.15  Weifang FuYuan Turbochargers Co Ltd

10.15.1Business Overview

10.15.2Financial Performance

10.15.3Recent Developments

10.15.4Product Portfolio

10.16  Aerocharger, LLC

10.16.1Business Overview

10.16.2Financial Performance

10.16.3Recent Developments

10.16.4Product Portfolio

10.17  Ningbo Motor Industrial Co Ltd

10.17.1Business Overview

10.17.2Financial Performance

10.17.3Recent Developments

10.17.4Product Portfolio

10.18  PBS Turbo s.r.o.

10.18.1Business Overview

10.18.2Financial Performance

10.18.3Recent Developments

10.18.4Product Portfolio

10.19  Precision Turbo & Engine Inc.

10.19.1Business Overview

10.19.2Financial Performance

10.19.3Recent Developments

10.19.4Product Portfolio

10.20  ABB Ltd.

10.20.1Business Overview

10.20.2Financial Performance

10.20.3Recent Developments

10.20.4Product Portfolio

10.21  Hartzell Engine Technologies LLC. (Aeroforce)

10.21.1Business Overview

10.21.2Financial Performance

10.21.3Recent Developments

10.21.4Product Portfolio

10.22  Honeywell International Inc.

10.22.1Business Overview

10.22.2Financial Performance

10.22.3Recent Developments

10.22.4Product Portfolio

10.23  Hunan Tianyan Machinery Co Ltd

10.23.1Business Overview

10.23.2Financial Performance

10.23.3Recent Developments

10.23.4Product Portfolio

10.24  IHI Corporation

10.24.1Business Overview

10.24.2Financial Performance

10.24.3Recent Developments

10.24.4Product Portfolio

10.25  Kawasaki Heavy Industries, Ltd

10.25.1Business Overview

10.25.2Financial Performance

10.25.3Recent Developments

10.25.4Product Portfolio

10.26  KompressorenbauBannewitz GmbH

10.26.1Business Overview

10.26.2Financial Performance

10.26.3Recent Developments

10.26.4Product Portfolio

10.27  LI JUN Enterprise Co Ltd

10.27.1Business Overview

10.27.2Financial Performance

10.27.3Recent Developments

10.27.4Product Portfolio

10.28  MAN Energy Solutions

10.28.1Business Overview

10.28.2Financial Performance

10.28.3Recent Developments

10.28.4Product Portfolio

10.29  Mitsubishi Heavy Industries Ltd

10.29.1Business Overview

10.29.2Financial Performance

10.29.3Recent Developments

10.29.4Product Portfolio

11        Conclusion & Recommendation

12        Acronyms & Abbreviations


Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/turbocharger-market/toc 


News Media

Brushless DC Motors: One of Its Kind

2030: India’s Electric Vehicle Deadline? Optimistic or Realistic?


Have a Look at the Related Research Report

Electric Bus Charging System Market: Information by Charging Type, Battery Type (Lithium Iron Phosphate), Charging Platform (Depot Charging), and Region — Forecast till 2029

Battery Management IC Market: Information by Type (Battery Charger IC, Fuel Gauge IC, and Authentication IC), Application (Healthcare and Automotive), and Region — Forecast till 2029

Agriculture Equipment Market: Information by Product Type (Tractors, Row Crop Planters), Farm Production (Field Crops), Application, Propulsion Type, and Region — Forecast till 2029

Electric Bicycle Market: Information by Motor Type (Hub Motor, Mid Drive), Battery Type (Lead Acid), Application (Sports), Consumer Segment, Power Output, and Region — Forecast till 2030

E-bike Battery Pack Market: Information by Battery Type Lithium-Ion, Lead Acid), Motor Type (Mid Motor, Hub Motor), Battery Pack Position (Rear Carrier), and Region — Forecast till 2030


About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

+44 208 068 9665 (the U.K.)

Email: sales@straitsresearch.com

Follow Us: LinkedIn | Facebook | Instagram | Twitter