Automotive Turbocharger Market Statistics, Development and G...| MENAFN.COM

Thursday, 06 October 2022 03:44 GMT

Automotive Turbocharger Market Statistics, Development and Growth 2030


(MENAFN- Market Press Release) August 4, 2021 9:52 am - Automotive Turbocharger Market to Witness Robust Growth in Coming Years

Automotive turbochargers are used to improve the power output and efficiency of an internal combustion engine (ICE) because it compresses exhaust air from the engine and dispense it to the combustion chamber. At present, turbocharging has become the standard for most diesel engines and some gasoline engines. Researchers across the world are still exploring new ways to improve the designs of turbochargers for reducing the manufacturing cost and enhancing the performance of this automobile component.

As turbochargers help in increasing the fuel efficiency of vehicles, the rising implementation of stringent emission norms by governments across the world will augment the automotive turbocharger market growth during 2020–2030. For instance, Japan, the United States, and countries outside of Europe have drafted their emission policies on the pattern of Euro 6/ Euro VI norms and the associated mandates for low-sulfur and clean fuels. By adopting this emission standard, such countries can help in reducing the emission of carbon monoxide (CO), hydrocarbons (HCs), HC + oxides of nitrogen (NOx), and particulate matter (PM) from petrol and diesel engines.

Request to Get the Sample Report: achieve the targets of several emission norms, automobile component manufacturers such as Continental AG, Turbo Energy Pvt. Ltd., The Turbo Engineers GmbH, Honeywell International Inc., IHI Corp., Magnum Performance Turbos Inc., BorgWarner, Cummins Inc., and Mitsubishi Heavy Industries Ltd. are producing turbochargers for two-wheelers, passenger cars, and commercial vehicles. Turbochargers used in such vehicles are based on electric, wastegate, and variable geometry turbocharging (VGT) technologies. The surging sales of automobiles across the world, owing to the rising disposable income of the people, will augment the need for these components in the coming years.

According to P&S Intelligence, the Asia-Pacific (APAC) region is expected to hold the largest share in the automotive turbocharger market in the foreseeable future. This can be primarily owed to the surging adoption of vehicles with compact engine size and increasing implementation of stringent vehicle emission norms in the region. Moreover, the mounting purchasing power of customers in emerging economies, such as India and China will also augment the integration of turbochargers in vehicles in the coming years.

High volume adoption of turbochargers by the automotive industry in APAC can also be attributed to the largescale production of automobiles in countries such as China and India. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), India produced 3,062,221 passenger vehicles, 624,939 commercial vehicles, and 18,349,941 two-wheelers during the financial year 2020–2021. Moreover, the China Association of Automobile Manufacturers (CIAAM) states that China produced 1,617,000 passenger cars and 424,000 commercial vehicles in May 2021.

Make Enquiry Before Buying the Report: the increasing focus on implementing vehicle emission norms, primarily on account of the soaring requirement for reducing air pollution levels, will propel the adoption of turbochargers in vehicles in the coming years.

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