Turbocharger Market
Global Turbocharger Market Size, Share & Trends Analysis Report by Industry (Automotive, Aerospace & Defense, Marine, and Agriculture & Construction), byTechnology (Twin-Turbo Technology, Variable Geometry Technology, and Wastegate Technology), by Sales Channel (OEM, and Aftermarket) and by Engine Type (Diesel Engine, Gasoline Engine, and Hybrid Engines) Forecast Period (2022-2028)
The global turbocharger market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period. One of the key factors that are growing the market is the rising fuel prices of the fuel. Fuel prices have been growing for years, and with decreasing quantity and increasing demand, traveling via vehicles has become a huge investment in regular life. For instance, in April 2022, In just 17 days, the retail petrol prices revised upwards 14 times. From $ 1.24 (?95.41) on March 21, the retail petrol price in Delhi increased to $1.37 (?105.41) by April 7, 2022. The prices are projected to grow even more in the upcoming years, and this has increased the demand for the vehicle with a turbocharger which caused the ability to enhance the performance of the vehicle while increasing the mileage of the vehicle via increasing the air quantity in the air-fuel ratio.
Impact of COVID-19 Pandemic on Global TurbochargerMarket
The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the uses of the vehicleand shut down most of the transportation services for a while. All this led to a decrease in the demand, and production activities in the turbocharger market. It caused market players a resistance in their regular sales. For instance, as per the financial report of Honeywell International, Inc.of 2020, the company’s total salesgrew by 3.6% as compared to the total sales of the company in 2019. However, as the situation got normal, Honeywell International, Inc. witnessed significant growth. As per the financial report of Honeywell International, Inc. in 2021, total sales increased by 5.0% as compared to the total sales of 2020.
Segmental Outlook
The global turbocharger market is segmented based on the industry, technology, sales channel, and engine type. Based on the industry, the market is segmented into automotive, aerospace & defense, marine, and agriculture & construction. Based on the technology, the market is segmented into twin-turbo technology, variable geometry technology, and wastegate technology. Based on the sales channel, the market is segmented into OEM and aftermarket. Based on the engine type, the market is sub-segmented into diesel engines, gasoline engines, and hybrid engines. The above-mentioned segments can be customized as per the requirements.VGT is mostly used in diesel-powered vehicles. However, the high performance of VGT, stringent emission norms, and increased popularity of GDI, which leads to more downsized engines, are expected to boost its future vehicle adoption.
Global Turbocharger MarketShare by Engine Type, 2021 (%)
The Gasoline Engine SegmentAnticipated to Hold the Prominent Share in the Global Turbocharger Market
The gasoline engine segment is estimated to dominate the market with a prominent share of the market during the forecast period owing to the declining market of diesel engines across the globe. The Diesel engine has been dominating the market for years, however, with rising environmental concerns, increasing governmental norms for controlling vehicle emissions, rising costs, and complications have declined the demand and production of diesel engines. This has increased boosted the gasoline engine options in the market and increased the demand for turbochargers for them. Gasoline engines produce much fewer emissions compared to diesel, and turbochargers improve the emission more. For instance, in February 2022, Kia India decided to discontinue some of the diesel variants of the Seltos SUV, and Carnival MPV in India. The company pulled out the base variant of the 7-seater MPV Carnival, and mid-range HTK diesel Seltos SUV.
Regional Outlooks
The global turbocharger market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement.Asia-Pacific is estimated to grow significantly while Europe holds the prominent share of the market during the forecast period.
Global Turbocharger MarketGrowth, by Region 2022-2028
The Asia-Pacific RegionEstimated to Grow Fastest in the Global Turbocharger Market
The Asia Pacific region is projected to grow fastest during the forecast period. Being the largest vehicle market in the globe, Asia Pacific requires a larger number of turbochargersfor manufacturing modern vehicles as compared to the other regions. The demand for turbochargers growing as more and more consumers grow financially, and buy cars. As per the data of OICA, 46,732,785 vehicles were produced in the Asia Pacific region in 2021 which is 58.3% of the total vehicles were produced across the globe in 2021.
Market Players Outlook
The major companies serving the global turbocharger market include BorgWarner, Inc., Continental AG, Cummins, Inc., Mitsubishi Heavy Industries Engine & Turbocharger, Ltd., Honeywell International, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2020, BorgWarner acquired Delphi Technologies.It was aiming to become a market leader in the automotive systems business.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global turbocharger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Turbocharger Market
• Recovery Scenario of Global Turbocharger Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. BorgWarner, Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Continental AG
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Cummins, Inc.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Honeywell International, Inc.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Mitsubishi Heavy Industries Engine & Turbocharger, Ltd.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Turbocharger Market by Industry
4.1.1. Automotive
4.1.2. Aerospace & Defense
4.1.3. Marine
4.1.4. Agriculture & Construction
4.2. Global Turbocharger Market by Technology
4.2.1. Twin-Turbo Technology
4.2.2. Variable Geometry Technology
4.2.3. Wastegate Technology
4.3. Global Turbocharger Market by Sales Channel
4.3.1. OEM
4.3.2. Aftermarket
4.4. Global Turbocharger Market by Engine Type
4.4.1. Diesel Engine
4.4.2. Gasoline Engine
4.4.3. Hybrid Engines
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Eaton Corporation PLC
6.2. Hunan Rugidove Turbocharging Systems Co. Ltd.
6.3. Ihi Turbo America
6.4. Kangyue Technology Co., Ltd.
6.5. MAHLE GmbH
6.6. Magnum Performance Turbos, Inc.
6.7. MAN Energy Solutions
6.8. Napier Turbochargers Ltd.
6.9. Okiya Group Co., Ltd.
6.10. Precision Turbo & Engine Rebuilders, Inc.
6.11. Rotomaster International
6.12. Fengcheng Pacific Shenlong Turbocharger Co., Ltd.
6.13. Turbo Energy Private Ltd (Tel)
6.14. Turbo One Pte. Ltd.
6.15. Zhejiang Rongfa Motor Engine Co., Ltd.
1. GLOBAL TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
2. GLOBAL AUTOMOTIVE TURBOCHARGERMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL AEROSPACE & DEFENSE TURBOCHARGERMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL MARINETURBOCHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL AGRICULTURE & CONSTRUCTION TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
7. GLOBAL TWIN-TURBO TECHNOLOGY OF TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL VARIABLE GEOMETRY TECHNOLOGY OF TURBOCHARGERMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL WASTEGATE TECHNOLOGY OF TURBOCHARGERMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
11. GLOBAL OEM TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL AFTERMARKET TURBOCHARGERMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY ENGINE TYPE, 2021-2028 ($ MILLION)
14. GLOBALTURBOCHARGER FOR DIESEL ENGINE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL TURBOCHARGER FORGASOLINE ENGINE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL TURBOCHARGER FORHYBRID ENGINES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
18. NORTH AMERICAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. NORTH AMERICAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
20. NORTH AMERICAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
21. NORTH AMERICAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
22. NORTH AMERICAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY ENGINE TYPE, 2021-2028 ($ MILLION)
23. EUROPEAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. EUROPEAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
25. EUROPEAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
26. EUROPEAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
27. EUROPEAN TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY ENGINE TYPE, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
32. ASIA-PACIFIC TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY ENGINE TYPE, 2021-2028 ($ MILLION)
33. REST OF THE WORLD TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
34. REST OF THE WORLD TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
35. REST OF THE WORLD TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2021-2028 ($ MILLION)
36. REST OF THE WORLD TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
37. REST OF THE WORLD TURBOCHARGER MARKET RESEARCH AND ANALYSIS BY ENGINE TYPE, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL TURBOCHARGER MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL TURBOCHARGER MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL TURBOCHARGER MARKET, 2022-2028 (%)
4. GLOBAL TURBOCHARGER MARKET SHARE BY INDUSTRY, 2021 VS 2028 (%)
5. GLOBAL AUTOMOTIVE TURBOCHARGERMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL AEROSPACE & DEFENSE TURBOCHARGERMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL MARINE TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL AGRICULTURE & CONSTRUCTION TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL TURBOCHARGER MARKET SHARE BY TECHNOLOGY, 2021 VS 2028 (%)
10. GLOBAL TWIN-TURBO TECHNOLOGY OF TURBOCHARGERMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL VARIABLE GEOMETRY TECHNOLOGY OF TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL WASTEGATE TECHNOLOGY OF TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL TURBOCHARGER MARKET SHARE BY SALES CHANNEL, 2021 VS 2028 (%)
14. GLOBAL OEM TURBOCHARGERMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL AFTERMARKET TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL TURBOCHARGER MARKET SHARE BY ENGINE TYPE, 2021 VS 2028 (%)
17. GLOBAL TURBOCHARGER FOR DIESEL ENGINEMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL TURBOCHARGER FOR GASOLINE ENGINE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL TURBOCHARGER FOR HYBRID ENGINES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL TURBOCHARGER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
21. US TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
22. CANADA TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
23. UK TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
24. FRANCE TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
25. GERMANY TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
26. ITALY TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
27. SPAIN TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF EUROPE TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
29. INDIA TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
30. CHINA TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
31. JAPAN TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
32. SOUTH KOREA TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF ASIA-PACIFIC TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
34. REST OF THE WORLD TURBOCHARGER MARKET SIZE, 2021-2028 ($ MILLION)
