According to Automotive Turbocharger Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Turbocharger Industry” published by Market Research Future, The Global Automotive Turbocharger market expected to rise at a CAGR of 7.97% by 2023.
— Automotive Turbocharger Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Turbocharger Industry” published by Market Research Future. Global Automotive Turbocharger Market Information by Type (Gasoline Engine, Diesel Engine, and New Energy Engine), Application (Passenger Vehicle and Commercial Vehicle), Region – Forecast till 2023.
Major Automotive Turbocharger Companies covered in the market report include BorgWarner Inc. (USA), Bosch Mahle(Germany), Bullseye Power LLC (USA), Continental AG (Germany), Cummins Inc.( USA), Fengcheng Xindongli Turbocharger Co. Ltd.( China) Honeywell International Inc. (USA), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd (Japan), and Precision Turbo and Engine (USA).
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Global Market Highlights:
Global Automotive Turbocharger market has seen remarkable growth; expected to rise at a CAGR of 4.40% and reach Reach $24,223.3 million by 2023. An automotive turbocharger is a turbine driven by the energy of exhaust gas generated by the internal combustion engine. Turbocharger improves the fuel efficiency of the engine by pushing more clean air in the engines to burn fuel and deliver greater power.
Market Research Future (MRFR) has published a research report about the global automotive turbocharger market that calculates raise for this market at 7.97% CAGR (Compound Annual Growth Rate) during the forecast period that would end in 2023. By value, the market has been figured to be worth the US $24,223.3 million by the end of the forecast period.
The key factor driving the global automotive turbocharger market growth is improved fuel efficiency due to the cleaner air in the engines to burn fuel and deliver greater power. Other factors contributing to the market growth include growing disposable income of consumers in developing countries and the booming automotive industry.The higher capital investment and expensive nature than traditional turbocharger, is expected to act as a hurdle in the growth of the market due to significant entry barriers for new players, which is expected to have a negative impact on the automotive turbocharger market.
The global Automotive Turbocharger market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Gasoline Engine, Diesel Engine, and New Energy Engine.
Segmentation by Application: Comprises Passenger Vehicle and Commercial Vehicle.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
The regional segmentation of the global automotive turbocharger market can segment the market into the regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). During the forecast period, the Asia Pacific market has been expected to rise primarily due to increasing vehicle production in developing countries such as China and India. China market is expected to grow at 9.65% CAGR and its worth by the end of the forecast period has been estimated to be US $ 2,862.6 million.
North America is the second most important regional market due to the increase in demand for new vehicles. Other factors contributing to the market growth in this region include continued growth in the global automotive industry, increase in vehicle sales, the presence of many key market players, the rise in the number of middle-class consumers, and stringent vehicle emission regulations. Important country-specific markets in this region are the USA and Canada.
In Europe, the market is growing due to the high density of population, the presence of many key market players, and government regulations to reduce carbon emissions. The crucial country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
The RoW segment covers the countries of Latin America and the Middle East & Africa (MEA). Latin America is a smaller market because the availability of advanced technology is limited in this region. Argentina and Brazil are two strong economies that have the potential to rise as lucrative markets in the future. In the MEA region, despite the high demand, the market is small due to poor countries, lack of awareness, lack of education, lack of skilled labor, and lack of technological advancement.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
List of Tables:
TABLE 1 GLOBAL Automotive Turbocharger MARKET, BY TYPE
TABLE 2 GLOBAL Automotive Turbocharger MARKET, BY Application
TABLE 3 GLOBAL Automotive Turbocharger MARKET, BY VEHICLE TYPE
TABLE 4 GLOBAL Automotive Turbocharger MARKET, BY REGIONS
TABLE 5 NORTH AMERICA Automotive Turbocharger MARKET, BY TYPE
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR 17
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 19
FIGURE 3 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL AUTOMOTIVE TURBOCHARGER MARKET 21
FIGURE 4 PORTER’S FIVE FORCES ANALYSIS OF GLOBAL AUTOMOTIVE TURBOCHARGER MARKET 23
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