Global Automotive Turbocharger Market 2017-2021
About Automotive Turbocharger
An automotive turbocharger, which has two main components, namely, the turbine and compressor, works on a simple principle. The exhaust that is released after the combustion of air and fuel in a vehicle's combustion chamber is used by the turbocharger. This exhaust air strikes the turbine blades, which rotates the turbine. A compressor is connected to the turbine using a shaft, which sucks in the air and compresses it using the centrifugal principle. This compressed air is then passed through a charge air cooler, which cools the air. This air finally reaches the intake manifold of the engine. The compressed air allows the engine to burn the fuel completely at a high volume, thus producing more power and improving the fuel efficiency. Automotive turbochargers increase the volume of the air that enters the cylinder and the fuel intake proportionately, thereby increasing power and fuel efficiency without compromising the environment or efficiency. For example, a turbocharger installed in a four-cylinder engine can produce the same power as a six-cylinder engine. Turbos are popularly used in cars, trucks, locomotives, and construction equipment engines.
Technavio’s analysts forecast the global automotive turbocharger market to grow at a CAGR of 6.43% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive turbocharger market for 2017-2021 . To calculate the market size, the report considers the the overall value of turbochargers produced for different types of vehicles such as passenger cars (which include light vehicles such as SUVs, MPVs, LCVs, and light pick-up trucks), light commercial vehicles, and heavy commercial vehicles.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Turbocharger Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive turbocharger market: Honeywell International, BorgWarner, IHI, Cummins, and Mitsubishi Heavy
Other Prominent Vendors in the market are: Banks Power, Magnum Performance Turbos, Precision Turbo and Engine, TEL, Turbo Engineering, and Turbonetics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological advancement of turbochargers. It is a known fact that conventional turbochargers that run with the help of exhaust gases cause turbo lag, which negatively affects engines' performance. Modern turbochargers use ultra-high-speed turbines and electric compressors, which make them highly responsive even at low speed, virtually eliminating turbo lag. In addition, the demand for fine-tuning turbocharger would help to drive the demand in the global market. Motorsports are becoming a high-visibility platform for automobile and turbocharger manufacturers to test and showcase technologies, which they want to include in passenger cars or for any high-performance vehicle.”
According to the report, one of the major drivers for this market is Increased global automotive sales. Due to significant economic growth and increasing purchasing power of consumers in emerging economies like China, Brazil, and India, there is an increase in demand for passenger cars in these regions. The growth of these emerging markets has been vigorous because of ongoing industrialization and global trade activities in these regions. In recent years, China has invested massively in its automobile industry, which has made it the market leader. Also, China has been maintaining its position as the world's largest automotive market. The automotive market in India is dynamic and growing very rapidly. This is forcing the automotive OEMs to shift their focus to these markets to tap the huge potential.
Further, the report states that one of the major factors hindering the growth of this market is Increased cost because of design complications and use of complex high-grade materials. The complexity of the parts needed for automotive turbochargers poses a challenge for the market. As the applications of automotive turbochargers are increasing, the various parts used in them, such as turbines, vanes, sliding nozzles, impellers, compressors, and center housings are becoming increasingly complex in design. Automotive turbochargers also need additional components such as intercoolers, wastegates, and blow-off valves to make the turbocharger work efficiently. With these complications in design and use of high-grade materials, the cost of turbochargers is increasing, which in turn, increases the buying price of the vehicles.
Honeywell International, BorgWarner, IHI, Cummins, Mitsubishi Heavy, Banks Power, Magnum Performance Turbos, Precision Turbo and Engine, TEL, Turbo Engineering, Turbonetics