The Global Automotive Turbocharger market accounted for US$ 15,364 Mn in 2022 and is expected to reach US$ 37,229 Mn by 2030 with a considerable CAGR of 10.7% during the forecast timeframe of 2022 to 2030.

Automotive Turbo Charger Market Overview:

Turbochargers are considered an essential part of today's automobiles because they increase the efficiency of the engine. During combustion, this system uses the engine's exhaust gases to drive a turbine. This turbine drives the compressor wheel with the help of a shaft. The compressor wheel draws in outside air, compresses it, and sends the compressed air to the engine. This compressed air burns fuel more efficiently and saves fuel for greater power.

Automotive turbochargers mainly consist of three types: variable turbochargers, wastegate turbochargers and electric turbochargers. Engine downsizing has become the most lucrative aspect of the automotive industry. The use of small engines in automobiles is gaining popularity in the market as it helps control fuel emissions efficiently. Turbochargers are helping the automotive industry meet government standards and regulations regarding emissions such as carbon dioxide and other harmful gases from vehicles. Turbochargers are considered more economical and environmentally friendly. Prominent manufacturers are investing heavily in research to develop the design and mechanism of automotive turbochargers, adopting advanced technologies to improve the overall performance of engines and reduce fuel consumption. Additionally, increasing vehicle sales and production are driving high demand in the automotive turbocharger market.

Automotive Turbo Charger Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Automotive Turbo Charger Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In November 2020, Continental AG has expanded its line of turbochargers for new car models made by MINI, BMW and Volkswagen Group. The company's products are aimed at handling additional high-volume models and creating original products for use in the workshop and aftermarket.
• In June 2021, BorgWarner announced a partnership with the Alpine F1 Team, in addition to their longstanding collaboration on propulsion technology. The collaboration aims to combine expertise and identify technologies to improve Alpine Cars' power plants.

Major Market Segments Covered in Automotive Turbo Charger Market Industry Research:

Market Key Players:
Fengcheng Xindongli Turbocharger Co. Ltd (China), Precision Turbo and Engine (US), Bullseye Power LLC (US), Bosch Mahle (Germany), Cummins Inc. (the US), Continental AG (Germany), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd (Japan), BorgWarner Inc. (US), Honeywell International Inc. (US), And Others.

By Type:

• Mono Turbo Charger
• Twin Turbo Charger
• Other

By Material:

• Cast Iron Automotive Turbochargers
• Aluminum Automotive Turbochargers
• Others

By Application:

• Passenger Cars
• Commercial Vehicles
• Other

By Region:

The automotive turbocharger market is expected to experience steady growth in the US owing to increasing demand for fuel-efficient vehicles in the US. Auto sales are already high in the US due to population growth and high disposable income, which simultaneously boosts the growth of the automotive turbocharger market.

The prevalence of high fuel prices in the United States is another factor forcing manufacturers to focus on manufacturing aftermarket turbocharged-equipped options and upgrade existing models with technological advances.

Additionally, the pressing need to comply with stringent emission standards from the EPA and NHTSA is driving innovation in the automotive turbocharger market to achieve better fuel economy and lower carbon footprint.

Driven by these factors, American manufacturers are increasingly adopting superior turbochargers for passenger cars and light vehicles. In addition, increasing demand for e-turbochargers for application in hybrid vehicles will drive market growth.

Germany presents lucrative growth opportunities due to the growing demand for hybrid and electric vehicles and stringent emissions regulations across the country.

Significant Market Dynamics:

Drivers

The surge in demand for fuel-efficient automotive engines and gasoline engines is expected to bolster the market growth during the forecast period.

Additional factors adding to the automotive turbocharger market revenue include strong urbanization, the need for improved engine power, stringent environmental regulations, demand for power-generating vehicles, and the need for fuel efficiency drive the production and manufacturing of heavy and light vehicles worldwide. It is steadily increasing. engines, global trade activity, ongoing industrialization, and growing demand for automotive turbochargers in both developing and developed countries.

Opportunities

Growing demand for the use of electric turbochargers in automobiles will provide strong opportunities for market players in the coming years.

Restraints

Increasing adoption of electric vehicles due to the implementation of stringent emission standards across the globe is likely to hamper the use of ICE engines in vehicles, negatively impacting the market growth over the forecast period.

Challenges

The high market price of these components may act as a market challenge for major players in the coming years. Besides, overheating issues and turbo lag may also limit the market growth.

Automotive Turbo Charger Market report scope:

Crucial Points from this Automotive Turbo Charger Market Report

• Estimate Automotive Turbo Charger Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Automotive Turbo Charger Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.