Automotive Turbocharger Market Analysis and Forecast by Size, Share, Growth, and Trends 2031

The automotive turbocharger market is expected to register a CAGR of 7.6% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles is likely to remain a key trend in the market.

Automotive Turbocharger Market Analysis

• The market is expanding as a result of the growing demand for fuel-efficient cars, stricter emission regulations, the growing trend of lighter commercial vehicles, and the automotive industry's continuous emphasis on improving performance.
• Global imposed emission regulations are attempting automotive manufacturers to use turbocharging technology.
• The demand for E-turbochargers is expected to rise due to their capacity to decrease turbo lag and obtain additional performance benefits. Diesel engine NOx emissions may be reduced by using these E-turbos. In addition, stricter emission standards for gasoline-powered cars will increase demand for turbochargers.

Automotive Turbocharger Market Overview

• Consumers drive the automotive turbocharger industry to focus on more fuel-efficient vehicles.
• In smaller engines, turbochargers boost engine output and efficiency without increasing engine size. To comply with strict fuel economy regulations, which lower fuel consumption and CO2 emissions in line with international environmental goals, manufacturers are introducing turbochargers.
•  Regulations about emissions are getting stricter globally, especially in developed nations. These regulations force cars to produce fewer dangerous emissions, such as CO2 and NOx.
• Governments are continuing to tighten emission standards to combat air pollution and climate change, which is significantly driving market growth. As a result, the vehicle industry adopts automotive turbocharging.

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Automotive Turbocharger Market: Strategic Insights

Automotive Turbocharger Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Increasing Automobile Production to Favor the Market

FUTURE TRENDS

• Growing Development in the Automotive Industry

OPPORTUNITIES

• Growing Technological Advancement

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Vehicle Type

• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Passenger Cars

Technology

• Wastegate Turbocharger
• VGT/VNT Turbocharger
• Electric Turbocharger

Fuel Type

• Gasoline
• Diesel

Application

• OEMs and Aftermarket

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Automotive Turbocharger Market Drivers and Opportunities

Increasing Automobile Production to Favor the Market

• The growing automotive sales in emerging countries are having a positive impact on the evolution of the automotive turbocharger market at a global level.
• Growing demand for fuel-efficient vehicles is also boosting the sales of high-end automobiles sales, which is simultaneously having a positive impact on the automotive turbocharger market in various nations such as North America, Europe, Asia Pacific, the Middle East, Africa, and  South America.

Growing Technological Advancement

• The manufacturing of automotive turbochargers for automobiles has expanded in tandem with the production of passenger cars and commercial vehicles, among others.
• Vehicles with higher fuel efficiency are becoming more in demand globally.
• Additionally, turbocharged engines can produce more power from smaller displacement engines, which results in increased fuel efficiency.
• Turbochargers greatly improve engine performance because they produce more power and torque. Customers preference for vehicles with improved acceleration, towing capability, and general driving dynamics will find this appealing, especially in the sports and luxury vehicle segments.
• Efficiency, responsiveness, and dependability have been further enhanced by continuous developments in turbocharger technology, such as variable geometry turbochargers (VGT) and electric turbochargers. Due to these advancements, turbochargers are now more widely used in a wider range of car models and engine combinations.

Automotive Turbocharger Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive turbocharger market analysis are vehicle type, technology, fuel type, and application.

• Based on vehicle type, the automotive turbocharger market is divided into light commercial vehicles, heavy commercial vehicles, and passenger cars.
• Based on technology, the automotive turbocharger market is divided into wastegate turbochargers, VGT/VNT turbochargers, and electric turbochargers.
• Based on fuel type, the automotive turbocharger market is divided into gasoline and diesel.
• Based on application, the automotive turbocharger market is divided into OEMs and aftermarket.

Automotive Turbocharger Market Share Analysis by Geography

• The automotive turbocharger market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive turbocharger market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive turbocharger market in these regions.

Automotive Turbocharger Market Market Report Scope

Automotive Turbocharger Market News and Recent Developments

The automotive turbocharger market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive turbocharger market are listed below:

• Accelleron has unveiled the next generation of turbochargers for two-stroke engines, the ACCX300-L series. The platform-based and easy-service concept complemented by Accelleron’s Turbo Insights digital technology sets a new benchmark for turbocharging that will offer ship operators the flexibility to respond to uncertainty around the fuels they will use and how they will operate their vessels in the future. (Source: Accelleron, Company Website, June 2023)
• Garrett Motion Inc., a differentiated technology leader in the automotive industry, announced the multi-phase expansion of Garrett Motion’s Wuhan facility, including its first high-speed automated production line of advanced variable nozzle technology (VNT) for turbo passenger vehicles. (Source: Garrett Motion Inc, Company Website, June 2023)

Automotive Turbocharger Market Report Coverage and Deliverables

The “Automotive Turbocharger Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive turbocharger market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive turbocharger market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive turbocharger market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive turbocharger market
• Detailed company profiles