Automotive Turbocharger Market 2023-2032; Growth Forecast & Industry Share Report

Automotive Turbocharger Market  is projected to cross USD 38 Bn by 2032. Automotive Turbocharger Market is slated to grow exponentially through 2032 owing to the rising demand for weight reduction in the transportation sector and improved power generation. Automotive turbochargers help improve overall efficiency and increase performance, which is expected to accelerate market expansion in the coming years.

In addition, the rising popularity of engine downsizing, which is considered to be the best way of enhancing fuel efficiency in an internal combustion engine through reducing the frictional losses and weight, will further enhance the market outlook throughout 2023-2032.

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Considering the vehicle, the LCV (Light Commercial Vehicles) segment is slated to be valued at over USD 4 billion in 2022. The growth can be ascribed to the rising demand for turbocharger technology in LCVs due to its several benefits, including maximized drivability, cost-effective emissions, and improved fuel efficiency. Besides, the rising demand for light commercial vehicles through online platforms is further slated to augment the market landscape.

Based on technology, VGT/VNT technology held over 42% market share in 2022 and is expected to offer profitable growth opportunities to the industry. The technology delivers benchmark transient response, low-speed efficiency, reliability, weight savings, and packaging flexibility, enhancing its adoption worldwide.

In terms of fuel, the demand for diesel-powered automotive turbochargers is anticipated to rise exponentially owing to the increasing sales of heavy-duty and construction vehicles. Besides, mounting demand for lightweight commercial diesel-powered vehicles will add impetus to the segmental expansion between 2023 and 2032.

By distribution channel, the aftermarket segment is slated to grow substantially by 2032 owing to the strong traction the online aftermarket has gained over the past few years due to a reliable delivery source and better turbocharger quality.

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Considering the regional perspective, the Asia Pacific automotive turbocharger industry held over 40% market share in 2022 and is slated to grow considerably during the estimated timeframe. The growth can be credited to rapid economic development, ongoing urbanization, and digitalization across countries such as China, India, Japan, and South Korea. Besides, the rising consumer inclination towards advanced automotive technologies and hefty investments in integrating conventional diesel/gasoline-powered engines with turbochargers will fuel the market growth across the region between 2023 and 2032.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Automotive turbocharger industry 360° synopsis, 2018-2032

2.2    Business trends

2.2.1    Total Addressable Market (TAM), 2023-2032

2.3    Regional trends

2.4    Vehicle trends

2.5    Technology trends

2.6    Fuel trends

2.7    Distribution channel trends

Chapter 3   Automotive Turbocharger Industry Insights

3.1    Introduction

3.2    Impact of COVID-19

3.2.1    North America

3.2.2    Europe

3.2.3    Asia Pacific

3.2.4    Latin America

3.2.5    MEA

3.3    Russia- Ukraine war impact

3.4    Industry ecosystem analysis

3.4.1    Component suppliers

3.4.2    Manufacturers

3.4.3    Software & technology providers

3.4.4    System integrators

3.4.5    Distribution channel analysis

3.4.6    Profit margin analysis

3.4.7    End-users

3.4.8    Vendor matrix

3.5    Comparison of turbo engine and non-turbo engine

3.6    Price trend analysis, 2022

3.6.1    Pricing analysis, by region

3.6.1.1   North America

3.6.1.2   Europe

3.6.1.3   Asia Pacific

3.6.1.4   Latin America

3.6.1.5   MEA

3.7    Cost structure analysis

3.7.1    Manufacturing cost

3.7.2    Labor cost

3.7.3    Others

3.8    Technology & innovation landscape

3.9    Patent analysis

3.10    Key initiative and news

3.11    Regulatory landscape

3.11.1    North America

3.11.2    Europe

3.11.3    Asia Pacific

3.11.4    Latin America

3.11.5    MEA

3.12    Industry impact forces

3.12.1    Growth drivers

3.12.1.1    Implementation of stringent vehicle emission regulations across the globe

3.12.1.2    Rising automotive production and sales

3.12.1.3    Performance and safety improvements at higher altitudes

3.12.1.4    Rising demand for TGDI (Turbocharged Gasoline Direct Injection) technology in automotive

3.12.1.5    Rising adoption of fuel efficient gasoline engines in vehicles

3.12.2    Industry pitfalls & challenges

3.12.2.1    Growing demand for electric vehicles

3.13    Growth potential analysis

3.14    Porter's analysis

3.15    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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