Global Turbocharger Market for Commercial Vehicles 2016-2020
A turbocharger increases the power efficiency of vehicles. The other advantages of using turbochargers in vehicles are increased power output, high power to weight ratio, efficiency, and reduction in engine weight. Three key technologies are involved in turbocharging: waste gate turbo used in commercial vehicles, twin turbo, and variable geometry turbo widely used in passenger cars.
Technavio’s analysts forecast the global turbocharger market for commercial vehicles to grow at a CAGR of 8.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global turbocharger market for commercial vehicles for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Turbocharger Market for Commercial Vehicles 2016-2020
Technavio recognizes the following companies as the key players in the global turbocharger market for commercial vehicles: BorgWarner, Cummins Turbo Technologies, Honeywell, Ishikawajima-Harima Heavy Industries, and Mitsubishi Heavy Industries.
Other Prominent Vendors in the market are: Bosch Mahle Turbo Systems, Gale Banks Engineering, Magnum Performance Turbos, Precision Turbo and Engine, and Turbo Energy.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rapid adoption of sequential twin-turbo technology. With the continuous development of heavy-duty diesel engines, the requirement of turbocharging systems to complement with diesel engines is increasing. The sequential turbocharging system is an effective measure to improve the fuel economy performance and to reduce smoke emission at low speed. The commercial vehicle arm of Volkswagen Group MAN uses twin sequential turbochargers in its D3876. This system reduces charge air temperatures below that of the engine coolant and also helps to reduce the temperature in the second turbocharger, increasing the service life of the components.”
According to the report, one driver in the market is growing demand for low emission vehicles. Trucks account for about 30% of CO2 emissions from road transport in Europe, even though they make up less than 5% of the total road traffic. In 2014, reported emissions from HCVs were 13% above 1990 levels. The EU is implementing stricter rules across all sectors of the economy to control GHG emissions. The EU has to specifically focus on HCVs and the road freight sector to achieve this goal. By 2019, the EU proposes to lay down the EU-wide legal CO2 standard for trucks and buses. In the US, HCVs are the second largest segment and collectively contribute the highest emissions and energy use in the US transportation sector. HCVs at present account for about 20% of GHG emissions and oil use in the US transportation sector. Globally, GHG emissions from heavy-duty vehicles are growing rapidly and are anticipated to exceed emissions from passenger vehicles by 2030.
Further, the report states that one challenge in the market is development of hybrid and electric commercial vehicles. The global demand for light GHG emission trucks has pushed OEMs to provide environmental friendly commercial vehicles. There is a gradual shift in the commercial vehicles industry from the use of fossil fuel to zero emission trucks. A Japanese manufacturer introduced hybrid commercial vehicle Hino300 series in the US, Europe, and Australia. Hino had an alliance with Toyota Motors for the manufacturing of hybrid vehicles. Hino is the market leader in Australia in hybrid commercial vehicles and recently launched a new hybrid version 110kw/420Nm diesel engine, which has AMT transmission system. Hino Hybrid electric vehicle provides 25% cost reduction in fuel, 30% idle time reduction, and 10% daily mileage reduction.
BorgWarner, Cummins Turbo Technologies, Honeywell, Ishikawajima-Harima Heavy Industries, Mitsubishi Heavy Industries, Bosch Mahle Turbo Systems, Gale Banks Engineering, Magnum Performance Turbos, Precision Turbo and Engine, Turbo Energy.