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. The market will grow at 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. The APAC region has a significant share of the automotive turbochargers market.
Automotive Turbochargers Market Outlook 2023-2028 (Million Units)
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The automotive turbochargers market report provides a comprehensive overview of the market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, it helps evaluate strategic initiatives by market players and their recent product innovations. The report also provides an overview of patent filings across sectors; regions; countries; and top applicants.
Market Size (2023) | 75.8 million units |
CAGR (2023-2028) | <(1)% |
Key Sectors | Turbochargers, Forced Induction Engines, Superchargers, Turbos and E-Chargers, and Turbos and Superchargers |
Key Regions | Asia-Pacific, Europe, North America, South America, and The MEA |
Key Companies | Garrett, BorgWarner, IHI, Mitsubishi Heavy Industries, and Bosch-Mahle Turbo Systems (BMTS) |
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Automotive Turbochargers Market Trends
The major trend impacting the automotive turbochargers market is the increased use of petrol engines and the development of better materials.
Turbochargers have been found in vehicles throughout history. Tturbocharger-equipped vehicles provided the same power as an engine twice their size, engineers continued to work on the earlier iterations of the turbocharger. Henceforth turbochargers became more popular. Furthermore, low CO2 emissions and excellent performance have led diesel engines to become the preferred fuel type for automobile manufacturers.
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Automotive Turbochargers Market Segmentation by Region
In 2023, Asia-Pacific led the Automotive Turbochargers Market
The key regions in the automotive turbochargers market are Asia-Pacific, Europe, North America, South America, and MEA. 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 Automotive Turbochargers Industry in 2021.
The top companies operating in the global turbochargers are:
- Garrett
- BorgWarner
- IHI
- Mitsubishi Heavy Industries
- Bosch-Mahle Turbo Systems (BMTS)
Garrett: Garrett’s E-Turbo significantly boosts low-end engine torque and transient engine performance. The new technology increases engine efficiency while also offering more power and quicker response.
The company has also taken some strategic actions to uplift the growth of the automotive turbochargers market. For instance, 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.
Automotive Turbochargers Market Analysis by Companies, 2021 (%)
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Automotive Turbochargers Market Segmentation by Sectors
In 2023, the turbochargers sector garnered a significant automotive turbochargers market share.
The key sectors in the automotive turbochargers market are forced induction engines, superchargers, turbochargers, turbos and e-chargers, and turbos and superchargers.
Automotive Turbochargers Market Analysis by Sectors, 2023 (%)
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Automotive Turbochargers Market – Latest Developments
A few of the latest developments in the automotive turbochargers industry are:
- On 18th Jan, 2023, BorgWarner opens an engineering center for electric propulsion as part of its ongoing growth in Bangalore. The India Propulsion Engineering Center will be essential in helping the world achieve these lofty goals while laying the groundwork for further advancements in electric mobility.
- On 18th April 2023, Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automobile industry, will showcase a portfolio of advanced technologies oriented towards turbocharging, electrification, and software connectivity at Auto Shanghai
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
- The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
Borg Warner
IHI
Mitsubishi Heavy Industries
Continental
Bosch Mahle Turbosystems
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Frequently asked questions
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What was the automotive turbochargers market size in 2023?
The automotive turbochargers market size was estimated at 75.8 million units in 2023.
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What will CAGR in the automotive turbochargers market be during 2023-2028?
The automotive turbochargers market will register a negative CAGR of more than 1% during 2023-2028.
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Which was the leading sector of the automotive turbochargers market in 2023?
In 2023, the turbochargers sector garnered a significant automotive turbochargers market share.
-
Which was the region garnering the highest automotive turbochargers market share in 2023?
Asia-Pacific was 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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