The future of the global automotive turbocharger market looks promising with opportunities in the OEM and aftermarkets. The global automotive turbocharger market is expected to reach an estimated $19.5 billion by 2021. The global automotive turbocharger market is forecast to grow at a CAGR of 10.1% from 2016 to 2021. The major drivers of growth for this market are increasing trends towards engine downsizing, stringent government emission norms for fuel efficiency, growth of the global automotive production, and consumer concerns about fuel efficiency.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of electric turbocharger and development of ball bearing turbocharger.
The study includes a forecast for the growth opportunities in the global automotive turbocharger market by product type, end user, vehicle type and region, as follows:
By Technology ($ billion from 2010 to 2021)
Variable Geometry Turbocharger
By Fuel Type ($ billion from 2010 to 2021)
By Vehicle Types ($ billion from 2010 to 2021)
Light Commercial Vehicle (LCV)
Heavy Commercial vehicle (HCV)
By End User ($ billion from 2010 to 2021)
By Region ($ billion from 2010 to 2021)
The Rest of the World
BorgWarner Inc., Honeywell International Inc., IHI Corporation, Cummins Inc., and Mitsubishi heavy Industries are the major turbocharger supplies in the global automotive turbocharger market. Of these, several are seeking mergers and acquisitions as strategic initiatives to drive growth.
On the basis of its comprehensive research, Lucintel forecasts that the twin turbo technology segment is expected to show above average growth during the forecast period.
Within the global automotive turbocharger market, the wastegate segment is expected to remain the largest market. There is continuous implementation of fuel emission regulations in developing regions and increasing awareness about fuel efficiency among customers, which leads to increased use of this technology in commercial vehicles, which would spur growth for this segment over the forecast period.
North America is expected to remain the largest region due to stringent carbon emission regulations by NHTSA. These regulations force OEMs to look for innovations to achieve engine downsizing. Also, consumer awareness of fuel efficiency is leading to the use of turbochargers in gasoline vehicles and increasing investment by the industry players within the North America region.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive turbocharger market by technology (Wastegate, Variable Geometry Turbocharger, and Twin Turbo), fuel type (Diesel and Gasoline), end-user (OEM and Aftermarket), vehicle type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?