Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The automotive turbocharger market has experienced significant evolution and adaptation in recent years, largely influenced by several key market trends. One of the primary drivers in this industry is the global push for more fuel-efficient vehicles. Automakers are attracted more and more to turbochargers as a way of satisfying increasingly strict emission regulations and the broader trend towards reducing carbon footprints by optimizing internal combustion engines. Turbocharging technology which enables engines to boost production of power without enhancing the displacement helps in improving fuel economy and reducing emissions, thereby supporting that industry’s efforts towards sustainability.
Additionally, there is a trend for downsized engines that causes an increased demand for turbochargers. The trend towards smaller, turbocharged engines that deliver roughly the same power as larger ones but consume less fuel is becoming more common among automakers. Such a downsizing tendency combined with the use of turbochargers enables achieving better performance without sacrificing efficiency – manufacturers and consumers looking forward to more green-friendly and economic vehicles are equally satisfied.
Also, the increase in hybridization and electrification for vehicles has had an effect on turbocharger technology. Hybrid cars with internal combustion engines often include turbos to increase power output and efficiency. Hybrid systems are integrated with turbocharging, an additional thrust when required that enhances overall performance and economy.
Another important trend that influences the automotive turbocharger market is an increased use of electric vehicles or EVs. Though EVs do not use traditional turbochargers, because of the electric propulsion system used in these cars; automakers have started thinking about adding this technology to hybrid and plug-in HEV. The combination of turbocharging with internal combustion engines in these vehicles helps utilize the latter to their fullest, providing an intermediary solution until automakers complete transition into electrification.
Additionally, technological innovations in turbocharger design and materials are propelling change throughout the market. Manufacturers are always in the development of more efficient and durable turbochargers using advanced materials and engineering techniques. This is through the use of lightweight materials, better aerodynamics and accurate manufacturing that enhances performance with less turbo lag while increasing reliability.
The automotive turbocharger market’s aftermarket segment is also showing significant growth. Due to the desire among consumers for ways through which their vehicles can be upgraded and improved, aftermarket turbocharger kits have become popular. Enthusiasts and performance-minded drivers look for aftermarket turbochargers that raise engine power and torque, which drives market expansion from original equipment makers.
Moreover, the internationalization of automotive products market and increasing supply for cars by developing markets have a significant role in turbocharger market. Increased demand for turbocharger arises from increased automotive production in regions like Asia-Pacific particularly in countries such as China and India.
However, challenges persist within the automotive turbocharger market, including cost constraints, reliability concerns, and the need for further technological advancements to meet stringent emission standards. Manufacturers are continually working to address these challenges by investing in research and development to create more cost-effective, durable, and efficient turbocharging solutions.
Automotive Turbocharger Market Highlights:
Automotive Turbocharger Market Overview:
Automotive Turbocharger Market Size was valued at USD 5.5 billion in 2022. The automotive turbocharger market is projected to grow from USD 6.05 Billion in 2023 to USD 10.78 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.10% during the forecast period (2024 - 2030). The emerging trend of light-weighting engines in commercial vehicles is leading the shift toward natural gasoline. Owing to the rising imposition of stringent automotive emission norms globally, these are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Turbocharger Market Trends
Increased Adoption of Petrol Engines is driving the market growth
Diesel engines have emerged as the dominant fuel type for car companies, as diesel engine emits low CO2 and offers great performance. However, on the other hand, the diesel proportion of new registrations has been falling gradually for some time, as modern petrol-powered cars are popular and have become better at delivering similar benefits. This trend is expected the growth Market CAGR during the forecast period.
A few more reasons propelled the market for gasoline-type engines, for instance, the Volkswagen diesel emissions scandal in 2015, when Volkswagen supplied around 11 million defective diesel engine cars globally, including eight million in Europe. Diesel car sales are witnessing a declining trend in the Region. The Volkswagen emission scandal resulting in a callback of all faulty vehicles, has further resulted in declining sales of the company's vehicles. The revelations resulted in a sharp fall in demand for diesel-engine cars, which aided in the rise in the demand for gasoline-engine cars. Petrol-powered engines are moving from naturally aspirated engines to turbocharged engines faster. It has been estimated that over the forecast period, 50% of the cars sold may have turbochargers, and similar growth is expected to continue.
The tendency to use turbochargers for diesel engines for improved fuel efficiency and engine performance is slowly changing. The automotive turbocharger market revenue from diesel turbochargers is slowly shifting toward petrol superchargers, and this shift has benefited the market, considering the emission norms.
Additionally, it supports increasing the power output by recovering thermal energy discharges from the engine. The use of turbos in the automotive engine facilitates acceleration by light pedal action and allows driving with modest engine loads. It acts as one of the major components in reducing particulate matter emission, thereby leading to a cleaner exhaust.
Automotive Turbocharger Market Segment Insights:
Automotive Turbocharger Type Insights
Based on Type, the Automotive Turbocharger Market segmentation includes gasoline, diesel, and new energy engine. The gasoline segment dominated the market; the rapid adoption of Turbocharged Gasoline Direct Injection Engines (TGDI) in gasoline vehicles is expected to drive the segment, as mentioned above, demand. OEMs rapidly shift from diesel to gasoline engines to curb the particulate matter level in automobile exhaust gases. This, in turn, will support OEM in maintaining the emission standards imposed by the regulatory bodies. The factors mentioned above are expected to restrict the growth of the diesel engine turbochargers market. Rising penetration of alternate fuel vehicles owing to advantages such as cleaner energy sources, better fuel efficiency, and lower cost than conventional fuel is expected to drive the growth.
March 2022: Mercedes-Benz announced the launch of sales of its new Mercedes-AMG C 43 4MATIC with a price starting at EUR 71,460 for the Saloon and EUR 73,245 for the Estate. In this completely redeveloped model performance of the agile, 300 kW (408 hp) AMG engine is enhanced by an electric exhaust gas turbocharger. The belt-driven starter generator (RSG) offers an additional short-term boost of 10 kW (14 hp) in certain driving situations.
April 2022: Daimler Trucks announced that the third generation of its OM 471 heavy-duty engine is now available to order and available from October 2022. With the third generation of the OM 471, Mercedes-Benz Trucks is introducing two new turbochargers developed and manufactured in-house. The second turbocharger variant has an engine rating of up to 390 kW (530 hp).
Figure1: Automotive Turbocharger Market, By Type, 2022& 2030(Usd Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Turbocharger Application Insights
Based on application, the Automotive Turbocharger Market segmentation includes passenger vehicles and commercial cars. The passenger vehicles segment dominated the market. The growing need for passenger vehicles among a huge pool population coupled with the expansion of worldwide auto manufacturers into new emerging markets is adding to the segment's growth. On the other hand, the commercial car segment is likely to grow at a high CAGR for the increase in commercial activities like goods and public transportation globally.
Automotive Turbocharger Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North automotive turbocharger market area will dominate this market. The emerging trend of light-weighting engines in commercial vehicles is leading the shift toward natural gasoline. The rising imposition of stringent automotive emission norms will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Automotive Turbocharger Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's automotive turbocharger market accounts for the second-largest market share because the modern car industry is governed by fuel economy and efficiency, which, in turn, is driven by the EU legislation on fuel economy and emissions targets. Further, the German automotive turbocharger market held the largest market share, and the UK automotive turbocharger market was the fastest-growing market in the European Region.
The Asia-Pacific automotive turbocharger market is expected to grow at the fastest CAGR from 2024 to 2030. Rising automotive production levels in Asian economies supplement this. Moreover, China’s automotive turbocharger market held the largest market share, and the Indian automotive turbocharger market was the fastest-growing market in the Asia-Pacific region.
Automotive Turbocharger Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Automotive Turbocharger market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The automotive turbocharger industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global automotive turbocharger industry to benefit clients and increase the market sector. The automotive turbocharger industry has offered some of the most significant advantages in recent years. Major players in the automotive turbocharger market, including Cummins, Inc.( U.S.), BorgWarner Inc. (U.S), Mitsubishi Heavy Industries Ltd (Japan), Fengcheng Xindongli Turbocharger Co. Ltd.( China), Honeywell International Inc. (U.S.), IHI Corporation (Japan), Bullseye Power LLC (U.S.), Precision Turbo and Engine (U.S.), Continental AG (Germany), Bosch Mahle (Germany)and others, are attempting to increase market demand by investing in research and development operations.
Mercedes-Benz, commonly referred to as Mercedes and sometimes as Benz, is a German luxury and commercial vehicle automotive brand established in 1926. Mercedes-Benz AG is headquartered in Stuttgart, Baden-Württemberg, Germany. Mercedes-Benz announced the launch of sales of its new Mercedes-AMG C 43 4MATIC with a price starting at EUR 71,460 for the Saloon and EUR 73,245 for the Estate. In this completely redeveloped model performance of the agile, 300 kW (408 hp) AMG engine is enhanced by an electric exhaust gas turbocharger. The belt-driven starter generator (RSG) offers an additional short-term boost of 10 kW (14 hp) in certain driving situations.
Daimler Truck AG is one of the world's largest commercial vehicle manufacturers, with over 35 locations worldwide and approximately 100,000 employees. Daimler Truck AG is headquartered in Leinfelden-Echterdingen, Germany. It was part of Daimler AG from November 2019 to December 2021. Daimler Trucks announced that the third generation of its OM 471 heavy-duty engine is now available to order and available from October 2022. With the third generation of the OM 471, Mercedes-Benz Trucks is introducing two new turbochargers developed and manufactured in-house. The second turbocharger variant has an engine rating of up to 390 kW (530 hp).
Key Companies in the automotive turbocharger market include
- Cummins ( U.S.)
- BorgWarner Inc. (U.S)
- Mitsubishi Heavy Industries Ltd (Japan)
- Fengcheng Xindongli Turbocharger Co. Ltd.( China)
- Honeywell International Inc. (U.S.)
- IHI Corporation (Japan)
- Bullseye Power LLC (U.S.)
- Precision Turbo and Engine (U.S.)
- Continental AG (Germany)
- Bosch Mahle (Germany)
Automotive Turbocharger Industry Developments
November 2021: several media sources reported that Cummins has been investing BRL 170 million to produce new Euro 6 engines to meet the demands of the P8 phase of the Proconve program for heavy vehicles, which will become effective in Brazil in 2022. The engines will be equipped with Holset turbochargers. The resources were also used to increase the nationalization of components for Euro 6 engines, a process that required the development of new local suppliers.
October 2021: Fiat presented its all-new Pulse SUV in Brazil, as dealers now accept orders nationwide. Produced at the Betim plant, the Pulse debuts with the 130 hp1.0-liter Turbo 200 Flex engine, featuring BorgWarner's low inertia turbocharger, which generates 130 hp of maximum power with ethanol (125hp with gasoline) and 200 Nm (20.4 kgf.m) of torque, regardless of fuel.
October 2021: Angka-Tan Motor (ATM) officially launched the JMC Vigus Pro pick-up truck in Malaysia with starting price of MYR 98,888. According to ATM, the Vigus Pro, which is CKD locally assembled at Tan Chong's Serendah plant, is a new value proposition among pick-up trucks sold in Malaysia. Power comes from a 'Puma' 2.0-liter turbo diesel engine with a variable geometry turbocharger.
Automotive Turbocharger Market Segmentation:
Automotive Turbocharger Type Outlook
- Gasoline
- Diesel
- New Energy Engine
Automotive Turbocharger Application Outlook
- Passenger Vehicles
- Commercial Cars
Automotive Turbocharger Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
