Automotive Turbochargers Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Turbochargers Market Report Overview
The automotive turbochargers market size is estimated at 75.8 million units in 2023 and is expected to register a negative CAGR of more than 1% during 2023-2028. However, due to the growing use of turbochargers in gasoline engines, there is a significant amount of growth potential for the market. Contrary to their gasoline counterparts, almost all current diesel engine vehicles come with turbochargers. But in recent years, turbochargers have also been used in gasoline engines. Downsizing is made possible in gasoline engines by turbocharging, which increases fuel efficiency by 5 to 20%. This innovation has accelerated the growth of the turbocharger market in nations that rely heavily on gasoline engines, like China and the United States.
Automotive Turbochargers Market Outlook 2023-2028 (Million Units)
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The automotive turbochargers market research report offers a comprehensive analysis of the trends & drivers, technological developments, PESTER outlook, sector forecast, and competitive landscape. The report brings together multiple data sources to provide a detailed overview of the global turbochargers sector during the projected period.
Market Size (2023) | 75.8 million units |
CAGR (2023-2028) | <(1)% |
Key Sectors | · Turbochargers
· Forced Induction Engines · Superchargers · Turbos and E-Chargers · Turbos and Superchargers |
Key Regions | · Asia-Pacific
· Europe · North America · South America · The MEA |
Key Companies | · Garrett
· BorgWarner · IHI · Mitsubishi Heavy Industries · Bosch-Mahle Turbo Systems (BMTS) |
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Automotive Turbochargers Market – Technologies and Innovations
The most important advancements center on using electronics to regulate different turbocharger functions, the use of twin turbochargers in a parallel or sequential layout, and the use of new metals, particularly titanium, and plastics. While the fundamental ideas behind turbocharging are well-understood and well-established, it is obvious that much more research and development is needed to bring the technology to its operating potential.
Watercooled aluminum turbocharger: For the new B-family 3-cylinder gasoline engine, BMW unveiled a watercooled, all-aluminum turbocharger, which the automaker claims is a first for the world. The lost-foam casting method is used to create the component. The turbocharger weighs significantly less than a conventional design because it only needs minimal additional cooling. Additionally, to minimize the catalytic converter’s aging effects, exhaust temperatures are kept below 850 degrees Celsius. The turbocharger installation has been created in a way that makes it simple to install the traditional steel turbocharger for the more powerful BMW i8 three-cylinder model.
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Automotive Turbochargers Market Segmentation by Sectors
The key sectors in the automotive turbochargers market are forced induction engines, superchargers, turbochargers, turbos and e-chargers, and turbos and superchargers. In 2023, the turbochargers sector garnered a significant automotive turbochargers market share.
Automotive Turbochargers Market Analysis by Sectors, 2023 (%)
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Automotive Turbochargers Market Segmentation by Region
The key regions in the automotive turbochargers market are Asia-Pacific, Europe, North America, South America, and MEA. Asia-Pacific is followed by Europe and North America. However, MEA is forecast to be the fastest-growing region for the sector.
Automotive Turbochargers Market Analysis by Region, 2023 (%)
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Automotive Turbochargers Market – Competitive Landscape
Garrett led the sector in 2021.
The top companies operating in the global turbochargers are:
- Garrett
- BorgWarner
- IHI
- Mitsubishi Heavy Industries
- Bosch-Mahle Turbo Systems (BMTS)
Garrett worked on creating mechanical e-chargers, which can reduce turbo lag caused by conventional turbos to as little as a tenth of a second. E-chargers require a separate, dedicated battery in modern vehicles with a 12V power source. Garrett anticipated that e-chargers would be adopted concurrently with the widespread adoption of 48V systems in the long run.
Turbochargers and Superchargers Market Analysis by Companies, 2021 (%)
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Automotive Turbochargers Market – Latest Developments
- The X300-L series of turbochargers from Accelleron is the next generation designed for two-stroke engines. Setting a new standard for turbocharging, the platform-based, easy-to-service approach combined with Accelleron’s Turbo Insights digital technology will provide ship operators with the adaptability they need to handle future uncertainties regarding the fuels they will use and how they will operate their vessels.
- To increase market competitiveness, Mitsubishi Electric Corp. and Mitsubishi Heavy Industries Ltd. announced that they would be merging their power-generator businesses. By integrating their respective businesses, combining their technologies, and acquiring complementary assets, Mitsubishi Electric and Mitsubishi Heavy Industries hope to increase their market competitiveness.
Key Segments Covered in this Report.
Automotive Turbochargers Sector Outlook (Volume, Million Units, 2018-2028)
- Forced Induction Engines
- Superchargers
- Turbochargers
- Turbos and E-Chargers
- Turbos and Superchargers
Automotive Turbochargers Regional Outlook (Volume, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global Turbochargers sector. It includes an analysis of the following –
- Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018-2028, and spot estimates for 2023 and 2028. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, North America, and South America, and MEA-highlighting sector size, and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
- Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail.
- This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Borg Warner
IHI
Mitsubishi Heavy Industries
Continental
Bosch Mahle Turbosystems
Table of Contents
Frequently asked questions
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What is the automotive turbochargers market size in 2023?
The automotive turbochargers market size is estimated at 75.8 million units in 2023.
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What will be the CAGR in the automotive turbochargers market during 2023-2028?
The automotive turbochargers market is expected to register a negative CAGR of more than 1% during 2023-2028.
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Which is the leading sector of the automotive turbochargers market in 2023?
In 2023, the turbochargers sector garnered a significant automotive turbochargers market share.
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Which is the region garnering the highest automotive turbochargers market share?
Asia-Pacific is the region garnering the highest automotive turbochargers market share in 2023.
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Who are the leading automotive turbochargers market players?
The top companies operating in the global turbochargers are Garrett, BorgWarner, IHI, Mitsubishi Heavy Industries, and Bosch-Mahle Turbo Systems (BMTS) among others.
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