Turbochargers Market for Automotive to hit $24bn by 2024, at 9% gains

Turbochargers Market for Automotive By Distribution Channel (OEM, Aftermarket), Technology (VGT/VNT, Wastegate, Twin Turbo), Vehicle (PCV, LCV, HCV), Fuel (Gasoline, Diesel), Regional Outlook (North America, Europe, Asia Pacific, South America, MEA), Growth Potential, Price Trends, Competitive Market Share & Forecasts to 2024

Selbyville, Delaware, USA - December 5, 2018 /MarketersMedia/ —

OEMs dominated the turbochargers market for automotive with over 90% share in 2016 and is likely to continue the same over the next eight years. Rising vehicle production across the globe along with mandatory norms regarding engine emissions will further support the industry dominance. Aftermarket will grow rapidly owing to high replacement needs in the engines of ageing vehicles to meet the regulatory norms.

VGT turbochargers are likely to witness significant growth, exhibiting over 8% CAGR from 2017 to 2024. Provision of benefits such as precise monitoring of particulate & NOx emissions, cost effectiveness as compared to the counterparts, lag time reduction, and enhanced engine efficiency will primarily drive the industry growth. Turbochargers market for automotive from twin turbo will account for approximately USD 7 billion by 2024 owing to benefits including high power and acceleration.

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PCVs are anticipated to dominate turbochargers market for automotive with more than 60% revenue share over the forecast timeframe. Rising production of the vehicle segment across the globe, particularly in emerging economies of Asia Pacific will primarily drive the industry growth. Rising demand from consumers for high power output and minimal loss in fuel efficiency will further support the industry dominance. Increasing domestic and international trading activities in various countries across the globe will fuel the turbochargers market for automotive from HCVs.

Turbochargers market for automotive from diesel will acquire highest volume share of more than 60% over the forecast timeframe. The diesel vehicles result in high carbon emissions and possess low fuel efficiency. This has resulted in high product demand, positively impacting the segments growth. Gasoline will witness over 8% CAGR till 2024 owing to shifting focus towards the fuel.

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Europe is likely to dominate the global turbochargers market for automotive over the forecast timeframe. Substantial revenue generation can be attributed to presence of established industry participants coupled with stringent emission regulations across the region. Asia Pacific will exhibit more than 8% CAGR from 2017 to 2024 owing to rising demand from the countries such as China, South Korea, India, and Japan.

Linamar, Federal-Mogul, Weifang Fuyuan, Mitsubishi Heavy Industries, IHI Corporation, Cummins Turbo Technologies, Borgwarner, and Montupet are among the noticeable participants in the turbochargers market for automotive. Bosch Mahle Turbo Systems, Precision Turbo and Engine, Banks Power, Magnum Performance Turbos, and TEL are other prominent players included in the study. New product development is among the major strategies adopted by the competitors to strengthen their foothold.

Browse key industry insights spread across 300 pages with 647 market data tables & 10 figures & charts from the report, “Automotive Turbocharger Market Size By Vehicle (PCV, LCV, HCV), By Technology (VGT/VNT, Wastegate, Twin Turbo), By Fuel (Gasoline, Diesel), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, Japan, India, South Korea, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-turbocharger-market

Table of Contents (ToC) of the report:
Chapter 5. Automotive Turbocharger Market, By Technology
5.1. Global turbochargers market share for automotive by technology, 2016 & 2024
5.2. VGT/VNT
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Wastegate
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Twin turbo
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
Chapter 6. Automotive Turbocharger Market, By Fuel
6.1. Global turbochargers market share for automotive by fuel, 2016 & 2024
6.2. Gasoline
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3. Diesel
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/automotive-turbocharger-market

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