The market research report published by Goldstein Research on global automotive turbocharger market forecast the market to reach USD 12.4 billion by 2024 from estimated USD 7.3 billion in 2015, growing at a compounded annual growth rate of 6.8% during the forecast period 2016-2024. Moreover, the global sales of automotive turbochargers are expected to reach 59 million units by 2024. The reduced fuel consumption, in order to comply with the environmental norms, is primarily driving the growth of automotive turbochargers market. The global turbochargers market, based on technology has the significant presence in the global automobile industry.
Further, sales of automotive turbochargers have prospecting share in the global automotive aftermarket industry, which has generated a revenue of USD 763 Billion in 2017. Global automotive turbochargers market segmentation has been carried out on the basis of technology type, vehicle type, fuel type, end users and geography. On the basis of geography, Europe accounts for largest automotive turbocharger market share with a penetration of 74% in 2016. Whereas, North America is witnessing significant growth in light vehicles turbochargers, owing to high regional sales i.e. expected sales growth by 33.0% by 2024.
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Market Segmentation
On the basis of our in-depth analysis, Global Automotive Turbochargers Market can be segmented as follows:
By Technology Type
• Variable Geometry Turbochargers
• Twin Turbo
• Wastegate Technology
By Vehicles Type
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• Passenger Cars
By Fuel Type
• Diesel
• Gasoline
By End-User
• Manufacturers (OEMs)
• Aftermarket
By Region
• North America Automotive Turbochargers Market {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe Automotive Turbochargers Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• The Middle East and Africa Automotive Turbochargers Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America Automotive Turbochargers Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific Automotive Turbochargers Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
“Global Automotive Turbochargers Market Outlook 2024” contains the detailed overview of the automotive turbochargers market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by technology type, vehicle type, fuel type and end users.
Further, for the in-depth analysis, Global Automotive Turbochargers Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market analysis report also includes product portfolio of some major players profiling of companies such as Honeywell International Inc., BorgWarner Inc., Cummins Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd, Continental AG, Bosch Mahle Turbo Systems, RotomasterInc, Turbo Energy PVT LTD, Eaton Corporation PLC, etc.
Overall, the report gives us the pinpoint analysis of the global automotive turbocharger market share along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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