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Turbochargers are steadily permeating the automotive sector, weighed by manufacturers as a tool to curtail environmental pollution by enhancing fuel efficiency. Emphasis on maintaining cleanliness of fossil fuel engines continues to influence the use of automotive turbocharger in vehicles. Fact.MR foresees that the demand for automotive turbocharger is projected to expand at a CAGR of 4.7% in terms of value during the period of forecast, 2017-2022. Sales of automotive turbocharger worldwide are likely to cross a valuation of US$19,000 Mn, says Fact.MR.
Increasing fuel prices have largely impacted sales of vehicles across the globe. This is likely to fuel the adoption of automotive turbocharger on the back of high fuel efficiency. Original equipment manufacturers have initiated fine tuning of automotive turbocharger in a bid to cater to the growing demand from customers. This has resulted in an upswing in automotive turbocharger sales, in turn pushing the growth of the automotive turbocharger market.
Aftermarket continues to remain a lucrative sales channel for automotive turbocharger on the back of increasing product popularity coupled with growing need for replacements in a bid to comply with strict engine emission norms. On the contrary, rising production of vehicles along with increasing demand for reduced vehicle weight is expected to steadily push sales of automotive turbocharger through OEM (original equipment manufacturers) channel during the period of forecast, 2017-2022. According to Fact.MR report, sales of automotive turbocharger through aftermarket channel are estimated to surpass US$ 12,000 Mn by end of the assessment period.
Rising Strides for Emission Control to be in Favor of Automotive Turbochargers Market
The surge of automobile production is slated as one of the predominant factors linked with environmental deterioration. By drawing advantages from the aforementioned scenario, automotive turbochargers market is finding extensive use cases by a significant margin. The prosperity of automotive turbochargers market is favoring the production of cars and vehicles with turbocharged engines. With a succession of innovations coming into picture in automotive turbochargers market, a new range of advanced turbochargers with exclusive valve designs have been introduced. The primary objective behind enhancement of valves in automotive turbochargers market is to dynamize the vehicle’s performance, both in low as well as high-speed conditions. The automotive turbochargers market is proactively adopting waste gate technologies, which enables transforming engines by curtailing emissions.
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Penetration of Turbochargers in Gasoline Powered Vehicles to Rev up Growth of Automotive Turbochargers Market
Engine downsizing has been considered as one of the most lucrative aspects in the automotive turbochargers market. The rising popularity of engine downsizing is pushing the growth of automotive turbochargers market. The use of smaller engine in vehicles is gaining high momentum in automotive turbochargers market as it helps cutting down emissions efficiently. Engine downsizing is also believed to contribute to vehicle’s fuel efficiency as their fuel consumption ratio is minimum, thereby standing out being lucrative in automotive turbochargers market.
Penetration of turbochargers in gasoline engines is an influential factor boosting the automotive turbochargers market. From their conventional use case in diesel engines, turbochargers are finding extensive adoption in gasoline powered engines in the light of fuel efficiency concerns posing a good sign for automotive turbochargers market. With the upthrust in demand for robust and fuel-efficient gasoline-powered vehicles, the automotive turbochargers market is set to rise in the years ahead. Moreover, stringent norms in place, predominantly in emerging economies, is bolstering growth of automotive turbochargers market. For example, EPA in North America has mandated vehicle manufacturers to integrate vehicles with latest technologies such as turbochargers for curtailing emissions.
Additional Questions Answered
Apart from the general know-how regarding automotive turbochargers market, the report also delves into additional questions for readers to gain a competitive edge-
- How will the unprecedented level shift undergone by global economy influence automotive turbochargers market?
- How will the governmental initiative to offer incentives and subsidiaries for electric vehicles impact automotive turbochargers market?
- Do ongoing industrialization and global trade activities have a predominant factor spurring growth of automotive turbochargers market?
This report on automotive turbochargers market features companies operating in the automotive turbochargers market. Some of the key companies listed in this report on automotive turbochargers market include IHI Corporation, Continental AG., Robert Bosch Limited, BorgWarner Inc., Honeywell International Inc., Turbo Energy Private Limited, Mitsubishi Heavy Industries Ltd., Eaton Corporation PLC, Rotomaster International, Precision Turbo & Engine Inc., Turbonetics Inc., and THE TURBO ENGINEERS GmbH.
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