The Global Automotive Turbocharger Market Size accounted for USD 16.4 Billion in 2023 and is estimated to achieve a market size of USD 32.4 Billion by 2032 growing at a CAGR of 7.9% from 2024 to 2032
Automotive Turbocharger Market Highlights
- Global automotive turbocharger market revenue is poised to garner USD 32.4 billion by 2032 with a CAGR of 7.9% from 2024 to 2032
- Asia-Pacific automotive turbocharger market value occupied around USD 6.7 billion in 2023
- Asia-Pacific automotive turbocharger market growth will record a CAGR of more than 8.6% from 2024 to 2032
- Based on vehicle, the passenger vehicle sub-segment generated around 75% automotive turbocharger market share in 2023
- Among technology, the VGT/VNT sub-segment generated more than USD 6.9 billion revenue in 2023
- Development of lightweight materials for turbocharger components is a popular automotive turbocharger market trend that fuels the industry demand
A turbocharger is a device that improves the overall economy and performance of an automobile engine. This is one of the reasons why many automakers choose to turbocharge their automobiles. Radial flow turbine turbochargers are the most often utilized turbocharger in automobiles. The turbine, on the other hand, utilized compressed exhaust energy to power a compressor that increased intake air pressure. Although there is a prevalent misconception concerning turbocharged automobiles and fuel economy, turbochargers increase an engine's fuel efficiency. However, manufacturers employ turbocharging to improve fuel efficiency by downsizing engines and afterward turbocharging them. The global market is estimated to grow at a substantial CAGR of more than 10% during the automotive turbocharger industry forecast period. Furthermore, industry participants are focusing their efforts on the development of groundbreaking new technologies that will aid in the growth of the worldwide automotive turbocharger market revenue.
Global Automotive Turbocharger Market Dynamics
Market Drivers
- Global implementation of strict vehicle emission laws
- Growing automotive manufacturing and consumption
- Improvements in performance and safety at higher altitudes
- Rising demand for gasoline-powered passenger automobiles
Market Restraints
- Increasing interest in electric vehicles
- Higher cost of maintenance
- Potential shortage of raw materials
Market Opportunities
- The introduction of electric turbochargers
- Advancements in turbocharger technology for hybrid vehicles
- Expansion into emerging markets with increasing vehicle ownership
Automotive Turbocharger Market Report Coverage
| Market |
Automotive Turbocharger Market |
| Automotive Turbocharger Market Size 2022 |
USD 16.4 Billion
|
| Automotive Turbocharger Market Forecast 2032 |
USD 32.4 Billion |
| Automotive Turbocharger Market CAGR During 2023 - 2032 |
7.9% |
| Automotive Turbocharger Market Analysis Period |
2020 - 2032 |
Automotive Turbocharger Market Base Year
|
2022 |
| Automotive Turbocharger Market Forecast Data |
2023 - 2032 |
| Segments Covered |
By Vehicle, By Technology, By Fuel, By Distribution Channel, And By Geography
|
| Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled |
Ford Motor Company, Honda, Dodge, BMTS Technology GmbH & Co. KG, Audi, Banks Power, General Motors, Chrysler, Garrett Motion Inc., BorgWarner, Continental AG, and Cummins Inc. |
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Automotive Turbocharger Market Insights
The growing popularity of compact engines in passenger cars is pushing a gradual shift from straight gasoline engines, which is fueling the expansion of automotive turbochargers. Furthermore, as harsh automobile pollution laws across the world become more stringent, original equipment manufacturers (OEMs) are utilizing drive system strategies to boost vehicle fuel economy. This development is helpful to promote the growth of automotive turbochargers, which aid in lowering vehicle emissions and enhancing fuel economy. Growing engine downsizing requirements, greater use of zero-emission vehicles, increased electrical turbocharger penetration, and favorable stringent regulations are some of the key drivers of global automotive turbocharger market growth. The adoption of vehicle emission norms is constantly rising in order to increase engine efficiency and productivity, hence promoting the growth of the global automotive turbocharger market size.
Furthermore, the growing usage of electric vehicles as a result of tougher pollution regulations around the world is likely to reduce the use of ICE engines in vehicles. Furthermore, the high market price of these items may limit their acceptance.
Automotive Turbocharger Market Segmentation
The worldwide market for automotive turbocharger is split based on vehicle, technology, fuel, distribution channel, and geography.
Automotive Turbocharger Vehicles
- Passenger Vehicle
- LCV
- HCV
According to automotive turbocharger industry analysis, based on the vehicle, the passenger vehicle segment is predicted to rise with significant market shares in the coming years. This expansion can be attributable to consumers' increased preference for high-performance, fuel-efficient vehicles. Furthermore, the growth in disposable income finally enhanced global passenger automobile production and sales. In passenger vehicles, the two main benefits of a turbocharged engine are enhanced power density and fuel efficiency. Furthermore, the government's introduction of tough pollution rules has spurred automobile manufacturers to use automotive superchargers in passenger vehicles and heavy-duty trucks.
Automotive Turbocharger Technologies
- VGT/VNT
- Wastegate
- Twin turbo
In terms of technology, the VGT/VNT segment held a major market share in 2023. The variable geometry turbine (VGT) allows for precise control of the compression ratio throughout the turbine. This adaptability can be used to improve low-speed torque characteristics, minimize turbocharger delay, and drive EGR flow in diesel engines. The moving wall and pivoting vane turbocharger models are the most prevalent variable geometry turbocharger variants. Furthermore, these turbochargers create maximum torque as well as maximum engine power and are far less expensive than other turbochargers. As a result, the global industry will be driven by this segment in the automotive turbocharger market forecast period.
Automotive Turbocharger Fuels
Based on the fuel, the gasoline segment is predicted to increase at the fastest rate in the market over the forecasted timeframe. The growing popularity of compact gasoline-powered passenger automobiles worldwide is driving the surge in the popularity of gasoline automobile turbochargers. These vehicles' engines have become more fuel-efficient and powerful. Build-in gasoline auto turbochargers that use engine exhaust turbocharging technology to improve engine performance by assisting inefficient combustion of engine fuel. On the other hand, the pandemic effect is expected to favor gasoline turbochargers over diesel engines because diesel engines are becoming more expensive, and the enforcement of new pollution laws raises the cost of diesel engines, particularly in light-duty vehicles.
Automotive Turbocharger Distribution Channels
In terms of distribution channels, the OEM sector will lead the market in 2023. OEM auto parts are similar to parts used in car production because the OEM is the original manufacturer of a vehicle's components. However, OEM parts are typically guaranteed by the manufacturer to work with the vehicle; in some cases, the assembly may also be guaranteed. As a result, consumers demand the best, and the OMEs category will drive the market.
Automotive Turbocharger Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Automotive Turbocharger Market Regional Analysis
In terms of automotive turbocharger market analysis, the Asia-Pacific region is predicted to be the largest industry. The expansion can be attributed to improvements in socioeconomic aspects in developing markets such as China, Japan, India, and Thailand. Increased vehicle production and looming tighter pollution regulations in India and China will propel the automotive turbocharger industry in the region. Furthermore, due to the country's huge production rates in automotive, China dominated the overall demand for turbochargers across the region. China was also one of the first economies to recover from COVID-19 and recommence production. As a result, demand for turbochargers is expected to increase during the automotive turbocharger market forecast period. Besides that, the region's turbocharger growth is influenced by stringent government regulations and pollution standards.
Automotive Turbocharger Market Players
Some of the top automotive turbocharger companies offered in our report includes Ford Motor Company, Honda, Dodge, BMTS Technology GmbH & Co. KG, Audi, Banks Power, General Motors, Chrysler, Garrett Motion Inc., BorgWarner, Continental AG, and Cummins Inc.
CHAPTER 1. Industry Overview of Automotive Turbocharger Market
1.1. Definition and Scope
1.1.1. Definition of Automotive Turbocharger
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Automotive Turbocharger Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Automotive Turbocharger Market By Vehicle
1.2.3. Automotive Turbocharger Market By Technology
1.2.4. Automotive Turbocharger Market By Fuel
1.2.5. Automotive Turbocharger Market By Distribution Channel
1.2.6. Automotive Turbocharger Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Automotive Turbocharger Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Automotive Turbocharger Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.8.3. Proportion of Manufacturing Cost Structure
3.8.3.1. Raw Material
3.8.3.2. Labor Cost
3.8.3.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2023
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2023
4.2. R&D Status of Major Manufacturers in 2023
CHAPTER 5. Automotive Turbocharger Market By Vehicle
5.1. Introduction
5.2. Automotive Turbocharger Revenue By Vehicle
5.2.1. Automotive Turbocharger Revenue (USD Million) and Forecast, By Vehicle, 2020-2032
5.2.2. Passenger Vehicle
5.2.2.1. Passenger Vehicle Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.3. LCV
5.2.3.1. LCV Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.4. HCV
5.2.4.1. HCV Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 6. Automotive Turbocharger Market By Technology
6.1. Introduction
6.2. Automotive Turbocharger Revenue By Technology
6.2.1. Automotive Turbocharger Revenue (USD Million) and Forecast, By Technology, 2020-2032
6.2.2. VGT/VNT
6.2.2.1. VGT/VNT Market Revenue (USD Million) and Growth Rate (%), 2020-2032
6.2.3. Wastegate
6.2.3.1. Wastegate Market Revenue (USD Million) and Growth Rate (%), 2020-2032
6.2.4. Twin turbo
6.2.4.1. Twin turbo Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 7. Automotive Turbocharger Market By Fuel
7.1. Introduction
7.2. Automotive Turbocharger Revenue By Fuel
7.2.1. Automotive Turbocharger Revenue (USD Million) and Forecast, By Fuel, 2020-2032
7.2.2. Gasoline
7.2.2.1. Gasoline Market Revenue (USD Million) and Growth Rate (%), 2020-2032
7.2.3. Diesel
7.2.3.1. Diesel Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 8. Automotive Turbocharger Market By Distribution Channel
8.1. Introduction
8.2. Automotive Turbocharger Revenue By Distribution Channel
8.2.1. Automotive Turbocharger Revenue (USD Million) and Forecast, By Distribution Channel, 2020-2032
8.2.2. OEM
8.2.2.1. OEM Market Revenue (USD Million) and Growth Rate (%), 2020-2032
8.2.3. Aftermarket
8.2.3.1. Aftermarket Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 9. North America Automotive Turbocharger Market By Country
9.1. North America Automotive Turbocharger Market Overview
9.2. U.S.
9.2.1. U.S. Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
9.2.2. U.S. Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
9.2.3. U.S. Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
9.2.4. U.S. Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
9.3. Canada
9.3.1. Canada Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
9.3.2. Canada Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
9.3.3. Canada Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
9.3.4. Canada Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
9.4. North America PEST Analysis
CHAPTER 10. Europe Automotive Turbocharger Market By Country
10.1. Europe Automotive Turbocharger Market Overview
10.2. U.K.
10.2.1. U.K. Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
10.2.2. U.K. Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
10.2.3. U.K. Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
10.2.4. U.K. Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
10.3. Germany
10.3.1. Germany Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
10.3.2. Germany Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
10.3.3. Germany Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
10.3.4. Germany Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
10.4. France
10.4.1. France Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
10.4.2. France Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
10.4.3. France Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
10.4.4. France Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
10.5. Spain
10.5.1. Spain Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
10.5.2. Spain Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
10.5.3. Spain Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
10.5.4. Spain Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
10.6. Rest of Europe
10.6.1. Rest of Europe Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
10.6.2. Rest of Europe Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
10.6.3. Rest of Europe Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
10.6.4. Rest of Europe Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
10.7. Europe PEST Analysis
CHAPTER 11. Asia Pacific Automotive Turbocharger Market By Country
11.1. Asia Pacific Automotive Turbocharger Market Overview
11.2. China
11.2.1. China Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.2.2. China Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.2.3. China Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.2.4. China Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.3. Japan
11.3.1. Japan Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.3.2. Japan Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.3.3. Japan Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.3.4. Japan Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.4. India
11.4.1. India Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.4.2. India Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.4.3. India Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.4.4. India Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.5. Australia
11.5.1. Australia Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.5.2. Australia Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.5.3. Australia Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.5.4. Australia Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.6. South Korea
11.6.1. South Korea Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.6.2. South Korea Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.6.3. South Korea Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.6.4. South Korea Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.7. Rest of Asia-Pacific
11.7.1. Rest of Asia-Pacific Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
11.7.2. Rest of Asia-Pacific Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
11.7.3. Rest of Asia-Pacific Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
11.7.4. Rest of Asia-Pacific Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
11.8. Asia Pacific PEST Analysis
CHAPTER 12. Latin America Automotive Turbocharger Market By Country
12.1. Latin America Automotive Turbocharger Market Overview
12.2. Brazil
12.2.1. Brazil Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
12.2.2. Brazil Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
12.2.3. Brazil Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
12.2.4. Brazil Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
12.3. Mexico
12.3.1. Mexico Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
12.3.2. Mexico Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
12.3.3. Mexico Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
12.3.4. Mexico Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
12.4. Rest of Latin America
12.4.1. Rest of Latin America Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
12.4.2. Rest of Latin America Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
12.4.3. Rest of Latin America Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
12.4.4. Rest of Latin America Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
12.5. Latin America PEST Analysis
CHAPTER 13. Middle East & Africa Automotive Turbocharger Market By Country
13.1. Middle East & Africa Automotive Turbocharger Market Overview
13.2. GCC
13.2.1. GCC Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
13.2.2. GCC Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
13.2.3. GCC Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
13.2.4. GCC Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
13.3. South Africa
13.3.1. South Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
13.3.2. South Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
13.3.3. South Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
13.3.4. South Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
13.4. Rest of Middle East & Africa
13.4.1. Rest of Middle East & Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Technology, 2020-2032
13.4.2. Rest of Middle East & Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Vehicle, 2020-2032
13.4.3. Rest of Middle East & Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Fuel, 2020-2032
13.4.4. Rest of Middle East & Africa Automotive Turbocharger Revenue (USD Million) and Forecast By Distribution Channel, 2020-2032
13.5. Middle East & Africa PEST Analysis
CHAPTER 14. Player Analysis Of Automotive Turbocharger Market
14.1. Automotive Turbocharger Market Company Share Analysis
14.2. Competition Matrix
14.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
14.2.2. New Product Launches and Product Enhancements
14.2.3. Mergers And Acquisition In Global Automotive Turbocharger Market
14.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 15. Company Profile
15.1. Ford Motor Company
15.1.1. Company Snapshot
15.1.2. Business Overview
15.1.3. Financial Overview
15.1.3.1. Revenue (USD Million), 2023
15.1.3.2. Ford Motor Company 2023 Automotive Turbocharger Business Regional Distribution
15.1.4. Product /Service and Specification
15.1.5. Recent Developments & Business Strategy
15.2. Honda
15.3. Dodge
15.4. BMTS Technology GmbH & Co. KG
15.5. Audi
15.6. Banks Power
15.7. General Motors
15.8. Chrysler
15.9. Garrett Motion Inc.
15.10. BorgWarner
15.11. Continental AG
15.12. Cummins Inc.
