The Business Research Company’s Automotive Turbochargers Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UNITED KINGDOM, May 12, 2022 /EINPresswire.com/ — Companies in the automotive turbocharger market are focusing on the development of electric turbochargers for applications in both light and commercial vehicles, in all fuels such as gasoline, diesel, and natural gas (CNG). Automotive turbochargers market overview shows that electrically assisted turbochargers can be used not just to drive the turbocharger shaft but also to break the vehicle. For instance, in 2021, Switzerland-based turbocharger company, Garrett Motion, was developing electric turbochargers (e-turbos) to eliminate turbo lag while adding additional performance benefits. The turbocharger provides larger power and efficiency gains, remains cooler, and enhances engine responsiveness while aiding in a nearly 20% reduction in NOx emissions.
The increasing demand for passenger cars is driving the automotive turbochargers market growth. Turbocharged engines generally have greater power density and high fuel efficiency, while allowing more horsepower and torque. According to the automotive turbochargers market research, the increase in purchasing power and low-interest rates in developing economies, along with consumer preference towards personal mobility, is expected to drive the demand for passenger cars, thus increasing demand for automotive turbochargers. For instance, the global passenger car market is expected to grow from $1,321.7 billion in 2020 to $1,988.7 billion by 2025.
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The global automotive turbocharger market size is expected to grow from $12.23 billion in 2021 to $13.14 billion in 2022 at a compound annual growth rate (CAGR) of 7.41%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive turbochargers market size is expected to reach $17.78 billion in 2026 at a CAGR of 7.85%.
Major players covered in the global automotive turbochargers industry are Honeywell, BorgWarner, Mitsubishi Heavy Industries, Ltd., IHI, Continental, Bosch, Mahle, Cummins, Delphi Technologies, Precision Turbo & Engine, INC, Turbonetics, Turbo International, ABB Turbo Systems Ltd., TEL, Rotomaster International, Fuyuan Turbocharger Co., Ltd., and Hunan Tyen Machinery Co., Ltd.
TBRC’s global automotive turbochargers market report is segmented by vehicle type into PCV, LCV, HCV, By technology into VGT/VNT, wastegate, twin-turbo, by sales channel into OEM, aftermarket, by fuel type into gasoline, diesel.
Automotive Turbochargers Global Market Report 2022 – By Vehicle Type (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin-Turbo), By Sales Channel (OEM, Aftermarket), By Fuel Type (Gasoline, Diesel) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a automotive turbochargers market overview, forecast automotive turbochargers market size and growth for the whole market, automotive turbochargers market segments, geographies, automotive turbochargers market trends, automotive turbochargers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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