Wiseguyreports.Com Adds “Automotive Turbocharger -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023” To Its Research Database
A turbocharger is a device which enhances efficiency and power output of internal combustion engines. It is driven by the energy of exhaust gas which is generated by the internal combustion engine. The turbine pushes the piston of the engine by high compressed air, which increases the torque and efficiency of the engine. The market is expected to exhibit a notable growth during the forecast period due to the several advantages offered by these devices such as high torque, less emission rate, and engine downsizing.
Turbochargers are useful in helping the automotive industry to meet the norms and standards regarding the emission of exhaust gasses such as CO2, nitrous oxide, and particulate materials from the automobile. Augmentation of the engine with a turbocharger helps in addressing the increasing demand for fuel-efficient vehicles from consumers.
The growth of automotive turbocharger market is influenced by continuous growth in global automotive industry and stringent vehicle emission regulations. Exponential rise in demand of cost-effective and fuel-efficient engines has led to a higher adoption of turbocharger across industries such as automotive, marine, and aerospace & defence. Whereas, availability of cheap conventional technologies is expected to hinder the growth of the automotive turbocharger market.
The global automotive turbocharger market is segment based on type, application, and region. On the basis of type, Gasoline Engine segment expected to witness highest growth in global automotive turbocharger market during the forecast period due to increase power and are designed to run at much higher RPMs (Revolutions per minute) than in diesels. Based on application, Passenger Cars expected to witness highest growth in global automotive turbocharger market with share of 54.70% in 2017 due to increase income level. High demand for automobiles is primarily driven by rising demand of passenger car among large pool of population, increasing per capita income in emerging countries, and expansion of global auto-manufacturers into new emerging markets and others. The global automotive turbocharger market is expected to reach USD 24,223.3 million by 2023 with 7.97% CAGR.
The major players operating in this market are Honeywell International Inc. (U.S.), BorgWarner Inc. (U.S), Mitsubishi Heavy Industries, Ltd (Japan), IHI Corporation (Japan), Continental AG (Germany), Cummins, Inc.( U.S.), Bosch Mahle(Germany), Bullseye Power, LLC (U.S.), Precision Turbo and Engine(U.S.) and Fengcheng Xindongli Turbocharger Co., Ltd.( China).
Objective of Global Automotive turbocharger Market Analysis & Forecast, from 2017 to 2023
• To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global automotive turbocharger market with analysis of its development and demand in the market
• High growth geographies and countries were identified
• Regional and country specific demand and forecast for global automotive turbocharger were studied
• Key segments covered in the report are: Type and Application
• Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
• For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
• Historical trend is identified to forecast and estimate the future value data
• Raw materials suppliers
• Aftermarket suppliers
• Research institute & education institute
• Potential investors
• Key executive (CEO and COO) and strategy growth manager
• Global automotive turbocharger market is expected to reach USD 24,223.3 million by 2023.
• By type, Gasoline Engine in global automotive turbocharger accounts for the largest market share and is growing with approximately ~7.9% CAGR during forecast period.
• By Application, Passenger Cars goods segment holds the largest market growing with approximately 7.97% CAGR by the end of forecast period.
• Geographically, Asia Pacific region has been projected to have the largest market share in global automotive turbocharger market followed by North America.
Regional and Country Analysis of global automotive turbocharger market Estimation and Forecast
The global automotive turbocharger market is expected to grow at a promising rate during the forecast period, 2017-2023. Asia-Pacific is projected to have the largest market in global automotive turbocharger market. With the global economy undergoing an unprecedented level shift, major emerging countries such as China, India, Thailand, and Indonesia are becoming manufacturing hubs for global automotive players. The income levels of individuals have been steadily increasing, also resulting in the rise in their disposable income, pushing the market towards growth. The currently booming automotive industry, combined with steadily increasing disposable income, is expected to contribute significantly in the growth of the market.
The reports also cover country level analysis:
• North America
o Rest of the Europe
• Asia – Pacific
o Rest of Asia-Pacific
• Rest of the World
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