According to the new market research report “Automotive Turbocharger Market by Technology (VGT, Wastegate, Electric), Material (Cast Iron, Aluminum), Ice & Hybrid Vehicle, Fuel Type, Off-Highway (Agricultural, Construction, Locomotive), Aftermarket, and Region – Global Forecast to 2025″, published by MarketsandMarkets™, The Automotive Turbocharger Market is projected to grow at a CAGR of 7.63%, to reach a market size of USD 18.49 billion by 2021.
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“VGT/VNT is the fastest growing turbocharger technology market in the automotive industry”
Variable Geometry Turbocharger (VGT) technology is expected to dominate the Automotive Turbocharger Market. The VGT/VNT technology is best suitable for 0.9 to 0.3 liter diesel engines. However VGT/VNT technology, also have application in 1.4L to 2.0L range. Advanced VNT gives fuel efficiency at low speeds, reduces weight, and gives better transient response and flexible packaging. For instance, Honeywell has launched VNT DualBoost Turbochargers which will boost the engine performance and is best suitable for pickup trucks with engine capacity of around 6 liter and more.
“Gasoline turbocharged vehicles constitute the largest segment of the Automotive Turbocharger Market”
The turbochargers are used in gasoline engines to increase the engine power, by increasing the pressure inside the combustion chamber. The turbochargers to be used in petrol vehicles should be compact, and should run at higher speeds. However, in the current scenario, the penetration of diesel turbocharged vehicles is more than gasoline turbocharged vehicles. For instance, according to MarketsandMarkets analysis, in Asia-Oceania 55-60% of the diesel powered passenger cars are turbocharged, on the other hand only 15-20% of the gasoline powered passenger cars are turbocharged. However the trend of turbochargers in gasoline engines is increasing. The gasoline fueled models with turbochargers are 1.4L Opel Astra, 1.6L BMW, V6 Ford EcoBoost, and BMW X-Series.
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“North America: Fastest growing market for turbocharger in automotive industry”
North America is estimated to dominate the Automotive Turbocharger Market, and is projected to grow at the highest CAGR during the forecast period. Increasing stringency in the CAFÉ emission regulations can be credited for the growth in the Automotive Turbocharger Market in this region. Additionally, the rising demand for advanced turbocharger technologies such as VGT/VNT which boosts the power of engine and other factors have contributed towards the growth scenario of this market. The North American automotive industry is one of the fastest growing industries in the world, and is dominated by domestic OEMs such as Ford Motor Company (U.S.) and General Motors (U.S.), along with established European and Japanese OEMs.
Automotive Turbocharger Market includes manufacturers such as Honeywell (US), BorgWarner (US), MHI (Japan), IHI (Japan), and Continental (Germany).
