This report on the global automotive turbochargers market studies various types of fuel, technology, vehicles, and geography. Turbocharging will play a key role in the near future, especially in meeting the requirements for fuel emissions and fuel consumption reduction.
However, it was observed that downsized engines fitted with a low number of cylinders for optimal turbocharger control resulted in some technical issues. According to market experts, automotive turbochargers are characterized by a wide operating range and unsteady gas flow through the turbine, while only steady flow maps are usually provided by the manufacturer.
For the purpose of this study, the various types of fuel considered are diesel and gasoline. Market size estimates and forecasts for these segments for the period 2015–2025 are provided in terms of USD million, along with the respective CAGRs for the period 2017–2025, considering 2016 as the base year.
The study comprises a segmentation of automotive turbochargers on the basis of various types of technologies, such as twin-turbo, variable geometry, and wastegate technology. Market size estimates and forecasts for these segments for the period 2015–2025 are provided in terms of USD million, along with the respective CAGRs for the period 2017–2025, considering 2016 as the base year.
The automotive turbochargers market is also segmented on the basis of various types of vehicles, such as heavy commercial vehicles (HCV), light commercial vehicles (LCV), and passenger vehicles (PV). Market size estimates and forecasts for these segments for the period 2015–2025 are provided in terms of USD million, along with the respective CAGRs for the period 2017–2025, considering 2016 as the base year.
The geographic segmentation of the global automotive turbochargers market includes regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The regions are also further sub-segmented on the basis of major countries. Market size estimates and forecasts for these segments for the period 2015–2025 are provided in terms of USD million, along with the respective CAGRs for the period 2017–2025, considering 2016 as the base year.
The key players covered in the automotive turbochargers market are BorgWarner, Inc.; Continental AG; Honeywell Turbo Technologies; IHI Charging Systems International GmbH; Turbodyne Technologies, Inc.; Cummins Inc.; Delphi; Mitsubishi Heavy Industries, Ltd.; and others.
Based on the type of fuel, the automotive turbocharger market is segmented into:
In 2016, diesel accounted for the largest market share of 78.7% of the global automotive turbocharger market. During the forecast period of 2017–2025, the demand for gasoline is expected to grow at a significant rate of 12.4%. Turbocharging is an integral component of the engine design concept, especially in diesel engines.
It shapes the characteristics of the engine more than almost any other system, as it affects its economy, dynamics, and emission characteristics. Honeywell has roughly doubled its estimate diesel sales penetration by 2018 to 6% from 3%. By 2018, it expects diesel and gasoline turbo engines combined to account for about 20 to 25% of U.S. new-vehicle sales.
The factors driving the global automotive turbocharger market comprise the growing penetration of turbochargers in gasoline vehicles, the highest consumption in diesel vehicles, and rising trends toward engine downsizing.
Based on the type of technology, the automotive turbochargers market is segmented into:
- Twin Turbo
- Variable Geometry Technology (VGT)
- Wastegate Technology
In 2016, the wastegate technology segment was observed as the largest market due to the incessant execution of fuel emission regulations in developing regions, high awareness about fuel efficiency among end-users, and increased use of this technology in commercial vehicles, which is expected to assist the growth of this segment over the forecast period.
According to market experts, wastegate technology is the largest market because it is cost-effective, reliable, and durable for low- to mid-power ranges. It has also been observed that wastegate turbochargers advance upon fixed-geometry units with an overall 3% increase in efficiency, and they can be optimized for various emissions control systems.
Based on the type of vehicle, the automotive turbochargers market is segmented into:
- Heavy Commercial Vehicle (HCV)
- Light Commercial Vehicle (LCV)
- Passenger Vehicle (PV)
The passenger vehicle segment accounted for the largest market share in 2016. The key factors assisting its market growth are that these are the most widely used vehicles in the world, the engine specifications and fuel efficiency are highly preferred by buyers in this segment, and impressive drivability is an additional benefit of these turbochargers in passenger vehicles.
According to Honeywell International, Inc., by 2020, around 70% of all light vehicles worldwide will be boosted by turbo technology. Thus, it makes the LCV segment one of the fastest-growing segments in this market. The market experts suggested that, as most of the leading and emerging economies become more aware of eco-friendly vehicles, automotive manufacturers are being challenged to meet increasingly stringent emissions and fuel efficiency requirements, which is ultimately expected to assist the market growth of turbochargers.
Moreover, turbocharging offers one of the most cost-effective routes to achieving the desired results, whether in gasoline, diesel, or hybrid powertrains.
For the purpose of this study, the global automotive turbochargers market is categorized into three segments:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Europe was identified as the largest market in 2016, owing to developed countries adhering to highly stringent regulatory policies concerning auto emissions, and it is the largest market for diesel vehicles. Moreover, the great demand for electric and hybrid vehicles has already made Europe a mature market, but due to the presence of implementation challenges, the demand for turbochargers in Europe is expected to dip.
However, while Europe has been at the forefront of incorporating modern engine-boosting technologies into some of the world’s most advanced and fuel-efficient powertrains, a market for turbochargers has emerged in the United States, Asia, and the rest of the world in the last two years as Original Equipment Manufacturers (OEMs) and consumers focused on gaining the energy efficiency benefits that turbocharging provides.
Asia Pacific is the second largest automotive turbochargers market for 2016, and the rising pollution levels in this region have impelled the governments to encourage vehicles with lower emissions and higher fuel efficiency.