Automotive Turbochargers Market Trends, Sector Overview and Forecast to 2028

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Published: March 29, 2024 Report Code: GDAUS270324-ST

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The global turbochargers market is estimated at 77.3 mn units in 2023, recording a substantial annual growth of 5.4%. However, the sector posted a negative CAGR of 3.4% during 2018–23. Over the forecast period (2023–28), the sector is expected to record a negative CAGR of 2.2% to reach 69.2 mn units by 2028. Turbochargers garnered a share of 56.8% in 2023 and are expected to account for 59.6% in 2028 while forced induction engines accounted for 42.8% in 2023 and are expected to account for 39.9% by 2028. Superchargers accounted for 0.3% in 2023 and are expected to account for 0.4% in 2028. In contrast, turbos and superchargers accounted for 0.1% in 2023 and are expected to remain at 0.1% in 2028. The top five companies operating in the global turbochargers are Garrett, BorgWarner, IHI, Mitsubishi Heavy Industries, and BMTS Technology.

This report brings together multiple data sources to provide a comprehensive overview of the global automotive turbochargers sector. It includes analysis on the following –

Trends & Drivers: Provides an overview of 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 global market covering volume growth during 2017–2026, and spot estimates for 2030 and 2036. The analysis also covers regional overview across four regions-Asia-Pacific, Europe, North America, and Mercosur-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.

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 (%)

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 (%)

Turbochargers and Superchargers 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 (%)
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 2017–2026, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, North America, 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.

Garrett
BorgWarner
IHI
Mitsubishi Heavy Industries
BMTS Technology.

Table of Contents

Executive Summary

Part 1: Main Trends and Drivers

Trends

Drivers

Part 2: Technologies and Innovations

Part 3: PESTER Analysis

Part 4: Sector Forecast

Sector Forecast – Global Turbochargers Volumes and Penetration

Forced Induction Engines – Global Volumes & Penetration

Superchargers – Global Volumes & Penetration

Turbochargers– Global Volumes & Penetration

Turbos and e-chargers– Global Volumes & Penetration

Turbos and Superchargers– Global Volumes & Penetration

Asia-Pacific Market Growth Analysis

European Market Growth Analysis

North American Market Growth Analysis

Mercosur Market Growth Analysis

Part 5: Latest Developments

Part 6: Key Companies

Top companies by Market Share – Turbochargers

Part 7: Patent Analysis

Patent Analysis

Part 8: Appendix

Table

List of Tables

Table 1: Main trends in the Turbochargers sector

Table 2: Market fitment/penetration rates of forced induction engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 3: Market volume of forced induction engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 4: Market volumes of E-chargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 5: Market fitment/penetration rates of E-chargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 6: Market volumes of superchargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 7: Market fitment/penetration rates of superchargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 8: Market volumes of turbocharged and e-charger engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 9: Market fitment/penetration rates of turbocharged and e-charger engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 10: Market volumes of turbocharged and supercharged engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 11: Market fitment/penetration rates of turbocharged and supercharged engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 12: Market volumes of turbochargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 13: Market fitment/penetration rates of turbochargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 14: Global market shares for turbochargers 2016 – 2021 (%)

Table 15: European market shares for turbochargers 2016 – 2021 (%)

Table 16: North American market shares for turbochargers 2016 – 2021 (%)

Table 17: Japanese market shares for turbochargers 2016 – 2021 (%)

Figures

List of Tables

Table 1: Main trends in the Turbochargers sector

Table 2: Market fitment/penetration rates of forced induction engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 3: Market volume of forced induction engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 4: Market volumes of E-chargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 5: Market fitment/penetration rates of E-chargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 6: Market volumes of superchargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 7: Market fitment/penetration rates of superchargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 8: Market volumes of turbocharged and e-charger engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 9: Market fitment/penetration rates of turbocharged and e-charger engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 10: Market volumes of turbocharged and supercharged engines fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 11: Market fitment/penetration rates of turbocharged and supercharged engines fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 12: Market volumes of turbochargers fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 13: Market fitment/penetration rates of turbochargers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 14: Global market shares for turbochargers 2016 – 2020 (%)

Table 15: European market shares for turbochargers 2016 – 2020 (%)

Table 16: North American market shares for turbochargers 2016 – 2020 (%)

Table 17: Japanese market shares for turbochargers 2016 – 2020 (%)

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