P&S Intelligence published a new research report, “Automotive Turbocharger Market: Global Industry Analysis and Forecast till 2030, (The global automotive turbocharger market is projected to witness significant rise in terms of revenue during the forecast period (2020–2030). Automotive turbocharger is mainly used to enhance efficiency and power output of internal combustion engine (ICE) as it compresses exhaust air from the engine and provide it to combustion chamber. Enhanced fuel efficiency requirements and stringent vehicle emission norms are the major factors leading to the acceleration of the market growth.).”
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Stringent regulations imposed by governments of various countries related to engine downsizing and emission norms are expected to accelerate the automotive turbocharger market. For instance, Indian government has proposed Bharat Stage 6 emission norms to meet vehicle emission standard, which is equivalent to Euro 6 for various vehicles categories, by 2020.
Geographically, the automotive turbocharger market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). Globally, APAC is expected to dominate the market during the forecast period. This can be mainly attributed to the high sales of vehicles with compact engine size and the stringent vehicle emission regulations in the region. Additionally, rising buying power of consumers in countries, such as India and China, is further supporting the growth of the regional market.
Some of the key players operating in the global automotive turbocharger market are Honeywell International Inc., The Turbo Engineers GmbH, Mitsubishi Heavy Industries Ltd., Cummins Inc., BorgWarner, IHI Corp., Turbo Energy Pvt. Ltd., Magnum Performance Turbos Inc., and Continental AG.
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The report covers country-wise automotive turbocharger market analysis. Some of the major countries covered in the report are the U.S., Canada, the U.K., France, Germany, Russia, Italy, Norway, the Netherlands, China, Japan, India, South Korea, Australia, Brazil, Argentina, Mexico, South Africa, and the U.A.E.
This market research report provides a comprehensive overview of the automotive turbocharger market.
This study covers
- Historical and the present size of the automotive turbocharger market.
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
- Recent strategic developments by the major players in the market