Automotive

Global Automotive Turbocharger Market

January 12, 2022
ID: SR/AU-45
Format:Pdf
Pages:220

Automotive Turbocharger Market By Technology (VGT, Wastegate, electric), By Material (cast Iron, Aluminum), By Fuel Type, By Application (Agriculture, Construction), By Vehicle (Passenger Car, LCV, Truck & Bus), By Region (North America, Asia Pacific, Europe, South America, and the Middle East & Africa), Global Forecast to 2021 - 2027.

Description

The Global Automotive Turbocharger Market will grow at a CAGR of10.2%, from USD 11.8 billion in 2020 to USD19.2 billion in 2027. Strict release of norms and rising acceptance of TGDI (Turbocharged Gasoline Direct Injection) technology will force the automotive turbocharger market.

The acceptance of Turbocharged Gasoline Direct Injection (TGDI) technology has risen from 7% in 2012 to 20% in 2017. China, the US, and Europe are the main countries that adopt this technology. China’s automobile sales will surpass 24 million units in 2021, more than 60% of which will be equipped with TGDI. In North America, according to HIS—noted a dominating source for US country automotive registration data, in 2016, 25.5 million passenger cars with this latest technology 2016. It is predicted that by 2024, it will produce 8 out of 10 cars in North America that will be TGDI equipped. In Europe, TGDI technology increased from 10% in 2009 to 38% in 2014, as reported by ICCT. In South America, TGDI technology is expected to grow from 0.04 million units in 2016 to 0.8 million units in 2023.

What is the Automotive turbocharger Market?

An automotive turbocharger is a device fitted in an engine designed to enhance and improve overall productivity and increase consumption. A turbocharger is a turbine-driven pushed induction device that improves the internal combustion (IC) engine efficiency and energy output by sending additional compressed air into the combustion chamber. It is the major reason auto manufacturers choose the automotive turbocharge in their vehicles. The new car in the market, Chevrolet Trax, is offered with turbocharged engines, and as time goes on, it will fit more and more vehicles with them. A turbo is made up of two halves joined together by a shaft. On one side, hot exhaust gasses spin the turbine connected to another turbine that sucks air in and compresses it into the engine. This compression gives the engine extra power and efficiency because as more air can go in the combustion chamber, it will add more fuel for more power.

Growth Driver

Increasing demand for passenger cars with gasoline engines

There are many different reasons for the decrease in the growth of diesel engines. Some of them are an increase in the fuel prices, rising global warming, and higher prices of diesel vehicles than petrol vehicles. In countries like India, South Korea, and Indonesia, diesel vehicles strike, and the demand for petrol engines has increased. Various emission norms such as Euro-6, China-VI, and PROCONVE P-8 have propelled the market for gasoline engines. It has accelerated the growth of passenger car turbochargers production.

Development of electric turbochargers

Electric turbochargers offer extra power and improvement in fuel efficiency payable to the discharge of turbo lag. Electric turbochargers are combined with a high-powered turbine and a motor-driven compressor, which control as soon as the driver presses on the pedal. Electric turbos offer more different benefits and fewer technical challenges. Various key players such as Garrett Motion, BorgWarner, and Continental AG have been very important and useful in beginning their 48V e-turbos in the market. These e-turbos are fuel-efficient and offer extra power output. Therefore, the orders for these turbochargers are expected to be high in demand in the coming years.

Restraints

Turbo lag is a considerable challenge with conventional turbochargers. Turbo lag is when a turbocharger extracts to produce a positive pressure when the released gases strike the turbine blades. There are imaginary and thermal losses, and it takes time to produce enough pressure to suck the air; if a turbocharger is not initiation properly, it will also create leakages, worsening the turbo lag. Most diesel engines are provided with conventional turbos, which have this lag.

Because hot exhaust gasses power a turbo, it gets very hot. Occasionally under certain engine requirements, the turbocharger itself could start gleaming red, but of course, this doesn’t occur in normal driving conditions; it happens when the engine is forced to its limits constantly. When we see some turbocharged sports cars with vents in the hood or down the side, it’s to try to get air moving directed the engine bay and keep things cool.

Pre covid-19 Impact on Global Automotive Turbocharger Market

Before the covid-19, the Automotive Turbocharger Market was growing and launched new products that offer lucrative opportunities for market players, stringent emission norms, increased TGTI to cope with emission regulations, and increased production of mild hybrid vehicles will propel the industry. Turbos in the automotive engine boost acceleration by light pedal action and authorize driving with modest engine loads. In addition, it acts as one of the significant components in decreasing particulate matter emission, thereby leading to a cleaner exhaust. The characteristics above led to lower fuel consumption and minimal environmental impact before the covid-19 era.

Covid-19 Impact on Global Automotive Turbocharger Market

COVID-19 has resulted in a decrease in vehicle production, which is directly proportionate to the decrease in the overall turbocharger market. Moreover, it is anticipated that the pandemic effect will help the gasoline turbocharger segment to grow increasingly over diesel as diesel engines are expensive, and implementation of new emission regulations more adds to the cost of the diesel engines, primarily in light-duty vehicles. In extension to that, the impact of COVID-19 would limit buyers’ buying power, which might result in the marketing of gasoline vehicles above diesel vehicles. Therefore, it could recognize a shift approaching gasoline engines. Also, to some measure, the pandemic impact would generate an objective outlook for ICE vehicles as the largest OEMs have lingered on their electric vehicle plans. In turn, it will make a better chance for the growth of the turbocharger market.

Post covid-19 Impact on Global Automotive Turbocharger Market

After the drastic hit of covid-19, the companies and factories restarted again, and Turbo lag is a considerable challenge with the conventional turbocharger; due to turbo lag removal, the Electric turbochargers offer more extra power and better fuel capability. Electric turbochargers blend a high-powered turbine and a motor-driven compressor, which serves as soon as the driver presses on the pedal. Electric turbos offer various advantages and less technical challenges. Several dominant players such as Garrett Motion, BorgWarner, and Continental AG have successfully launched their 48V e-turbos in the market. These e-turbos are fuel-efficient and allow more reliable power output. Therefore, the requirement for these turbochargers is foreseen to be high in the coming years.

By Technology Segmental Analysis

The VGT segment is projected to lead the automotive turbocharger market.

VGT is mostly used in diesel-powered vehicles. However, the high performance of VGT, stringent emission norms, and increased popularity of GDI, which leads to more downsized engines, are expected to boost its future vehicle adoption.

By Vehicle Segmental Analysis

The passenger car segment is the highest growing segment during the forecast period.

The passenger car segment is forecasted to be the largest and the fastest-growing market for automotive turbochargers because of the greater production of passenger cars than commercial vehicles.

By Regional segmental Analysis

Asia Pacific sector is anticipated to be the biggest market. The growth can be connected to the improving socio-economic conditions in developing economies such as China, India, Indonesia, and Thailand. The improved vehicle production and upcoming stringent emission norms in China and India will boost the automotive turbocharger market.

Recent Development

In June 2021, Garrett Motion Inc declared that it plans to enlarge and modify its existing and previous production facility in Wuhan, China, to meet rising customer demand.
In May 2021, BorgWarner has participated in a global agreement to supply its latest eTurbo to a vital European OEM for high-voltage hybrid passenger cars.
In October 2020, BorgWarner Inc. was involved with Delphi Technologies Plc.
In October 2019, Garrett Motion Inc modified E-Turbo for mass-market passenger vehicles that added a small electric motor on the pole between two wheels to boost the turbo immediately off idle. It eliminates lags in the middle of the times a driver hits the accelerator and notices the acceleration. Electrification discharge design constraints, prioritizing turbine more efficacious at low engine speeds to drive the compressor.
In June 2019, ABB announced its A200-H turbocharger designed to offer a simple, single-stage high-performance solution for gas engines and low-cost solutions for the 22–24 BMEP range.
In June 2018, Cummins Inc. invented heavy-duty commercial wastegate turbochargers with high and improved efficiency of up to 6% and fuel efficiency of 1.5%. The evolution has included a highly optimized mixed flow turbine stage and a design with wastegate flow control.

Competitor’s analysis

Garrett Motion Inc., Continental AG, BorgWarner Inc., Mitsubishi Heavy Industries and IHI Corporation and other prominent players are the key players of the Automotive Turbocharger Market.

Key stakeholders

Market research and consulting firms
Industry associations
Global Automotive Turbocharger manufacturing firm
Research organizations and consulting companies
Regulatory bodies
Suppliers
Retailers

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 11.8 Billion
The revenue forecast in 2028	USD 19.2 Billion
Growth Rate	CAGR of 10.2 % from 2022 to 2028
Historical data	2017-2019
Forecast period	2021 – 2028
Region covered	North America, Europe, South America, Asia-Pacific, and Middle East & Africa
Key companies Profiled	Garrett Motion Inc., Continental AG, BorgWarner Inc., Mitsubishi Heavy Industries and IHI Corporation

Market Modelling

By Technology

VGT
Wastegate
Electric

By Material

Cast Iron
Aluminum

By Fuel

Application
Agriculture
Construction

By Vehicle

Passenger Car
LCV
Truck & Bus

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the size of the Automotive Turbocharger Market?

The size of the Automotive Turbocharger market, USD11.8 Billion in 2020, will reach USD19.2 Billion by 2027.

What is the growth rate of the global Automotive Turbocharger Market?

The Global Automotive Turbocharger Market will be expected to grow at a CAGR of10.2%

What are the growth drivers of the Automotive Turbocharger Market?

Stringent emission norms, engine downsizing, and demand for fuel efficiency Increase in the demand for gasoline vehicles and GDI Engines.

What is the competitive landscape of the Automotive Turbocharger Market?

Garrett Motion Inc., Continental AG, BorgWarner Inc., Mitsubishi Heavy Industries and IHI Corporation are competitors.

Which region is leading the Automotive Turbocharger Market?

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