Turbocharger Market Size, Share, Growth, Analysis, Trend, Drivers, Challenges, Key Companies by 2027

Turbocharger Market

Turbochargers swiftly gained popularity as they find wide applications in light commercial vehicles.

Enhanced performance of engine and fuel efficiency, supportive government regulations, and engine downsizing to lower down weight of the vehicle fuel the growth of the global turbocharger market. ”

— Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, May 29, 2024 /EINPresswire.com/ -- Improved engine performance and fuel efficiency, several government regulations, and engine downsizing to reduce vehicle weight drive the growth of the global 𝐓𝐮𝐫𝐛𝐨𝐜𝐡𝐚𝐫𝐠𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭. On the other hand, complications related to turbocharger installation and rise in engine temperature owing to overheating issues in turbochargers curtail down the growth to some extent. However, increase in demand for fuel efficient as well as gasoline engines is expected to create multiple opportunities in the industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/1683

The global turbocharger market was valued at $16.13 billion in 2019, and is projected to reach $24.23 billion by 2027, registering a CAGR of 5.3%.

Factors such as improved engine performance and fuel efficiency, government regulations and engine downsizing to reduce vehicle weight drive the growth of the turbocharger market. Moreover, turbocharger installation and excessive rise in engine temperature, owing to overheating issues in turbochargers are the factors expected to hamper the growth of the turbocharger market. However, rise in demand for fuel efficient engines and gasoline engines is expected to supplement the growth of the turbocharger market during the forecast period.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐁𝐨𝐫𝐠𝐖𝐚𝐫𝐧𝐞𝐫 𝐈𝐧𝐜., 𝐈𝐇𝐈 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐓𝐮𝐫𝐛𝐨 & 𝐄𝐧𝐠𝐢𝐧𝐞, 𝐄𝐚𝐭𝐨𝐧, 𝐓𝐮𝐫𝐛𝐨 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐋𝐭𝐝., 𝐂𝐮𝐦𝐦𝐢𝐧𝐬 𝐈𝐧𝐜., 𝐂𝐎𝐍𝐓𝐈𝐍𝐄𝐍𝐓𝐀𝐋 𝐀𝐆., 𝐑𝐨𝐭𝐨𝐦𝐚𝐬𝐭𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐇𝐨𝐧𝐞𝐲𝐰𝐞𝐥𝐥 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐌𝐈𝐓𝐒𝐔𝐁𝐈𝐒𝐇𝐈 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍

Turbochargers swiftly gained popularity as they find wide applications in light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotives, owing to several benefits such as enhanced fuel-efficiency and improved engine performance in terms of power and output. In addition, they also help automakers to meet regulatory standards regarding carbon emission. For instance, the government of Europe imposed emission targets for new light commercial vehicles, wherein each vehicle is required to have a label stating its fuel efficiency and CO2 emission level.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/b0bba6d5b0355c04438a69d32684d2f4

Current trend for the installation of better and efficient turbochargers in vehicles has increased due to its advantages such as better and increased vehicle efficiency. This has enabled turbocharger manufacturers to make continuous enhancements in existing turbochargers, therefore, boosts the turbochargers market growth.

Factors such as improved engine performance and fuel efficiency, government regulations and engine downsizing to reduce vehicle weight drive the growth of the turbocharger market. Moreover, turbocharger installation and excessive rise in engine temperature, owing to overheating issues in turbochargers are the factors expected to hamper the growth of the turbocharger market. However, rise in demand for fuel efficient engines and gasoline engines is expected to supplement the growth of the turbocharger market during the forecast period.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By technology, the twin-turbo technology turbocharger generated the highest revenue in 2019.

By application, the light commercial vehicle segment was the highest revenue contributor in 2019.

By region, Europe contributed for the highest market share in 2019, followed by Asia-Pacific, North America, and LAMEA.

Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1683

Based on region, Europe, followed by Asia-Pacific and North America, held the major share in 2019, garnering more than two-fifths of the global turbocharger market size. Rise in application of latest technology in automobiles drives the growth of the market in this region. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 6.1% till 2027. This is due to increased production of vehicles in the province.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

EV Charging Cable Market - https://www.alliedmarketresearch.com/ev-charging-cable-market-A08914

Car-as-a-Service Market - https://www.alliedmarketresearch.com/car-as-a-service-market-A12371

Vehicle-To-Grid (V2G) Market - https://www.alliedmarketresearch.com/vehicle-to-grid-v2g-market-A08446

Self-Driving Bus Market - https://www.alliedmarketresearch.com/self-driving-bus-market

David Correa
Allied Market Research
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