Research Nester Analytics LLC ’s recent market research analysis on “Automotive Turbocharger Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor’s analysis and a detailed overview of the global gluten-free food market in terms of segmentation by type, component, fuel type, sales channel, vehicle type, and by region.
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Increasing Adoption of Electric Vehicles to Drive Growth of the Global Automotive Turbocharger Market
Recent years have seen a huge increase in the market for automobile turbochargers, primarily due to customers preferring higher-performance vehicles and laxer emission restrictions. The installation of a turbocharger in a vehicle's engine boosts performance and efficiency. This is one of the main reasons why major automakers prefer to use turbochargers in their automobiles. Turbochargers not only add extra power to the vehicle but also operate without the engine, earning them the moniker "free power" sources. The overall quantity of passenger cars sold increased to 38,90,114 from 30,69,523. Sales of passenger cars increased from 14,67,039 to 17,47,376, sales of utility vehicles increased from 14,89,219 to 20,03,718, and sales of vans increased from 1,13,265 to 1,39,020 units in FY-2022–2023. In addition to this, turbochargers are becoming more and more common in today's newest cars, primarily as a result of stricter government fuel economy standards. There has been a significant advancement in science and technology with turbochargers since they were first introduced a century ago. They use an electric motor to rotate the compressor wheel instead of relying on exhaust gases. Electric turbochargers can improve engine response, reduce turbo lag, and provide a rapid boost at low engine speeds.
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Some of the major growth factors and challenges that are associated with the growth of the global automotive turbocharger Market are:
Growth Drivers:
• Surging in Consumer Demand for Cars to Use Less Fuel and Fewer Emissions
• Growing Use of Gasoline Powered Vehicles
Challenges:
A limitation in the market for cars with turbocharger systems is called turbo lag. It can be identified by how long it takes to attain the maximum pressure in the combustion chamber before the vehicle reaches its maximum performance capability. Precise timing is essential in racing scenarios to prevent premature turbo lag, which can cause a loss of control, especially in tight turns when tire grip is already diminished. The engine to which a turbocharger system is coupled could be seriously damaged if it is mounted improperly. Turbochargers are evaluated primarily based on their air supply capacity, which is generally expressed in pounds per square inch (PSI). The rise of vehicle turbochargers is impacted by installation hazards and turbo lag is expected to hamper the market growth.
The global automotive turbocharger market is segmented into type, component, fuel type, sales channel, vehicle type, where vehicle type is sub-segmented into passenger cars, heavy commercial vehicles and light commercial vehicles. By the end of 2036, the passenger cars segment is anticipated to garner the largest revenue of USD 21.9 billion with a CAGR of 8.07% over the forecast period. Many automakers use turbocharging technology in their vehicles to boost power output without compromising fuel economy which is expected to trigger the market growth of bread products over the coming years.
Over the forecast period of 2024-2036, the European automotive turbocharger market is predicted to develop at a CAGR of 7.81%. The European market was worth USD 2.3 billion in 2023, and it is expected to be worth USD 6.1 billion by the end of 2036. The growing demand for fuel-efficient automobiles and more stringent emissions rules in Europe are driving growth in the automotive turbocharger market. Moreover, in 2023, the European Union suggested that by 2030, the average emissions of the EU's new car fleet should have decreased by 30% from 2021. The EU fleet of new vans in 2030 will likewise see a 30% decrease. Car and van projections for 2025 are 15% less than those for 2021. Fuel efficiency is increased via turbochargers, which are essential in engine downsizing without compromising power. Turbocharged cars have becoming more popular in Europe as environmental concerns are given top priority by both consumers and regulations.
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