An Incisive, In-depth Analysis on the Automotive Turbochargers Market
This study offers a comprehensive, 360 degree analysis on the Automotive Turbochargers market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Automotive Turbochargers market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The report covers comprehensive information about market trends, volume (Units) and value (US$ Mn) projections, market dynamics, competition landscape, and recent developments regarding the global automotive turbochargers market for the study period 2018 to 2028.
The global automotive turbochargers market is expected to reach over US$ 22,777.0 Mn by the end of forecast period, registering a CAGR of 9.0%. According to the analysis, the demand for automotive turbochargers is expected to keep increasing and gain significant traction in the coming years. Increasing automotive turbochargers installations in gasoline engines, regulatory scenario, and healthy demand from the automotive industry are expected to reinforce the outlook of the global automotive turbochargers market.
By Product Type, the Variable-geometry Technology segment dominates the Global Automotive Turbochargers Market
The three major types of automotive turbochargers covered in the research study are wastegate, variable-geometry technology and twin turbo type. Variable-geometry turbochargers are majorly installed in diesel commercial vehicles and passenger cars.
Furthermore, variable-geometry technology automotive turbochargers offer different aspect ratios (A/R ratio) for different engines. The aspect ratios for low-speed engines and high-speed engines are very different. A fixed geometry turbocharger aspect ratio is fixed so it can’t be used for all type of engines and therefore, variable-geometry turbochargers are used for maximum output.
The variable-geometry technology segment is estimated to gain 140 BPS between 2018 and 2028, owing to the strong demand from South East Asian Countries, Middle East & Africa and North America. The segment is estimated to be the most attractive among all its counterparts. It is expected to expand at a CAGR of 9.3% to reach US$ 15,817.7 Mn by the end of 2028.
Growing Demand for Engine Downsizing to optimize Vehicle Performance is slated to drive the growth of the Global Automotive Turbochargers Market
Efficient utilization of resources or raw materials, decreasing waste production and increasing efficiency are the key focus areas for manufacturers in the automotive turbochargers market. Automotive turbochargers help in increasing the power output of engines by allowing more air per intake to the combustion chamber of powertrains. As compared to the naturally-charged atmospheric pressure engines, automotive turbochargers are a more efficient and eco-friendly technology as they offer increased engine power without increasing piston displacement.
The above stated technology is termed as engine downsizing and helps in improving vehicle performance by reducing fuel consumption in IC engines. Furthermore, automotive turbocharger manufacturing companies are closely working with customers through partnership programs focused on fuel economy, engine downsizing and emission control. This may further lead to significant benefits, such as enhanced safety, lower prices, greener solutions and more fun drives.
North America and China are expected to steer the Global Automotive Turbochargers Market Growth in the Near Future
The North America automotive turbochargers market is expected to witness a trend of engine downsizing with the rising demand for gasoline engines from light trucks and passenger cars leading to increased demand for gasoline turbochargers. The region is expected to shift towards smaller turbocharged engines from larger naturally-aspirated engines, with the current average size of 3.0 L six-cylinder. With the strong demand for light vehicles in North America, the manufacturers of automotive turbochargers are providing more twin-scroll turbo technology support.
On the other hand, China is estimated to impose tough carbon emission and fuel economy regulations on car manufacturers with wider adoption of electrification and development of gasoline turbocharged engines.
Outlook of the Automotive Turbochargers Market
Western Europe is expected to dominate the global automotive turbochargers market in terms of installations over total vehicle sales. In addition, shaping trend of automotive performance tuning and engine remapping in the region is indirectly driving demand for turbocharger installation. China and North America are expected to gain traction over the forecast period, owing to the anticipated increase in adoption and installation in these regions. All other regions are expected to exhibit moderate growth in the same period.
Automotive Turbochargers Market – Competitive Landscape
The global automotive turbochargers market is mostly consolidated where the top three players, i.e. Honeywell International Inc., BorgWarner Inc. and IHI Corporation, accounted for nearly an 83% market share by 2017 end.
In the recent past, the automotive turbochargers market has witnessed significant developments from a competition perspective. Product innovations, mergers, and acquisitions are some of the key preferred strategies opted by key players to sustain and enter in the global automotive turbochargers market.
- In 2017, Honeywell introduced Garrett G Series turbochargers, which are developed with latest technologies in design, aerodynamics and materials to meet the aftermarket demand
- In April 2018, BorgWarner Inc. introduced 17 new replacement turbochargers for automakers, positioning itself as a major supplier in the aftermarket channel
Prominent players covered in the automotive turbochargers market include Honeywell International Inc. (Garret Advancing Motion), BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co, Eaton Corporation plc, Weifang FuYuan Turbochargers Co., Ltd. and Mitsubishi Heavy Industries, among others.
Key Questions answered in the Automotive Turbochargers Market Report
- How has the automotive turbochargers market evolved over the past five years?
- How is the automotive turbochargers market expected to take shape in terms of volume and value during the study period?
- What are the prevailing market dynamics in the automotive turbochargers market?
- What are the competition developments and trends in the automotive turbochargers market?
- What are the underlying macro-economic and industry factors impacting the growth of the automotive turbochargers market?
- Which are the key challenges, opportunities and improvement factors for automotive turbochargers market players?
- What are the market positioning and key strategies of key manufacturers as per the automotive turbochargers market taxonomy?
- How is the competition structured in the automotive turbochargers market and how has it evolved over the past few years?
This FMI study offers a ten-year analysis and forecast of the global Automotive Turbochargers market for the period between 2018 and 2028. This study on the Automotive Turbochargers considers 2017 as the base year with market values estimated for the year 2018 and forecast developed for the duration 2018 to 2028. Compound Average Growth Rate (CAGR), in terms of both value and volume, has represented from 2018 to 2028. The Automotive Turbochargers market study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with Automotive Turbochargers market segment level projections in a comprehensive manner. As per the findings of the Automotive Turbochargers market study and perspectives of industry participants, the global Automotive Turbochargers market is projected to grow at a CAGR of 9.0% between 2018 and 2028, in terms of value. Growing environmental concerns and stringent emission regulations and growing demand for engine downsizing for optimum vehicle performance are some of the factors fuelling the growth of the Automotive Turbochargers market.
This Future Market Insights report on Automotive Turbochargers carefully analyses the market at a global and regional level through market segmentation, on the basis of key parameters, such as product type, vehicle type, actuator, sales channel and fuel type. The primary objective of this Automotive Turbochargers report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rate and other relevant information and statistics in a suitable manner to the readers or various stakeholders in the Automotive Turbochargers market.
Unlike superchargers, automotive turbochargers work use the power of exhaust gases. Furthermore, automotive turbochargers have smog alternating equipment, which help in lowering the carbon emission in exhaust gases. Also, automotive turbochargers can be installed in almost all types of engines. They can even improve the power output of a small engine.
Automotive turbochargers use exhaust gas to drive a turbine, which allows more fuel burning. Automotive turbochargers enhance fuel efficiency by increasing the pressure of air coming through the engine.
Each section of the report has been structured to facilitate the reader to develop a thorough understanding of the Automotive Turbochargers market. This Automotive Turbochargers report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section covers qualitative and quantitative assessment of the Automotive Turbochargers market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews with the key stakeholders in the market.
Automotive Turbochargers Market: Segmentation
The Automotive Turbochargers market report begins with market introduction. In the next section, the report describes market development background, macro-economic factors, industry factors, forecast factors, global weighted average pricing analysis, value chain overview and an assessment of the sales of Automotive Turbochargers for the base year considered for the study.
The next section of the report discusses market dynamics, such as drivers (supply and demand side), restraints and trends impacting the Automotive Turbochargers market’s growth at a global level. Market opportunities or potential for automotive turbochargers manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global Automotive Turbochargers market at a qualitative level based on analysis facts and insights.
In the following sections of the report, market value (US$ Mn) and volume (in Units) projections for the Automotive Turbochargers market on the basis of the aforementioned segments at a global level have been included.
The next section of the automotive turbochargers report presents a summarised view of the global Automotive Turbochargers market based on nine prominent regions with market numbers represented for key countries considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions. The market analysis sections cover regional trends and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing this market in each region.
In order to offer an accurate forecast, we started by sizing the current Automotive Turbochargers market, which forms the basis of how the global Automotive Turbochargers market is expected to shape in the future. Given the characteristics of the Automotive Turbochargers market, we triangulated the outcome of three different types of analysis: primary research, secondary research and FMI analysis. However, forecasting the market in terms of various segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecasting exercise.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we do not only conduct forecasts in terms of CAGR but also analyse the Automotive Turbochargers market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the Automotive Turbochargers market and identify the right opportunities available for the value chain participants.
As previously discussed, the Automotive Turbochargers market has been split into five segments. These segments -- vehicle type, sales channel, product type, fuel type and actuators -- have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the Automotive Turbochargers market growth. This detailed level of information is important for the identification of various key trends being witnessed in the Automotive Turbochargers market.
Another crucial feature included in the FMI’s comprehensive report on Automotive Turbochargers is the analysis of all key segments in the Automotive Turbochargers market and regional adoption, along with the revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve in the Automotive Turbochargers market.
In the final section of the automotive turbochargers report, a competitive landscape of the Automotive Turbochargers market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the Automotive Turbochargers market and key differentiating factors and strategies. The primary category of providers covered in the report are Automotive Turbochargers manufacturers and end-users. In addition to this, the section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the Automotive Turbochargers market.
Detailed profiles of the automotive turbochargers providers have also been included under the scope of the Automotive Turbochargers market report to evaluate their long- and short-term strategies, key offerings and recent developments in the Automotive Turbochargers market. Examples of some of the key competitors covered in the report include Honeywell International Inc. (Garret Advancing Motion), BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co, Eaton Corporation plc, Weifang FuYuan Turbochargers Co., Ltd. and Mitsubishi Heavy Industries, among others.