November 7th,2022/Industry News Global/ -- This new report from Stratview Research analyses the Automotive Turbocharger Market over the trend period from 2014 to 2019 and the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.
Automotive Turbocharger Market Overview:
Automotive turbocharger market was estimated at USD 12 Billion in 2021 and is likely to grow at a CAGR of 10.44% from 2022-2028 to reach USD 24.28 Billion in 2028.
Key Players:
The key On-highway OEMs are-
Daimler
General Motors
Toyota
Nissan
Ford
and the key off-highway OEMs are-
Caterpillar
Hitachi Construction Machinery
Komatsu
Hitachi Construction Machinery
Hyundai Heavy Industries
Volvo Construction Equipment.
The Automotive Turbocharger Market is segmented by–
ByVehicle type (On-Highway Vehicles: Passenger Car, Light Duty Vehicle, Medium & Heavy Duty Vehicle, and Off-Highway Vehicles: Tractor and Construction Equipment),
By Charger Type(Turbocharger and Supercharger),
By Technology(VGT/VNT, Wastegate, and Twin Turbo),
by Fuel Type(Gasoline and Diesel),
By Region(North America, Europe, Asia-Pacific, and RoW)
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Segment Analysis
By Vehicle Type
The market is segmented as On-Highway Vehicles: Passenger Car, Light Duty Vehicle, Medium & Heavy Duty Vehicle, and Off-Highway Vehicles: Tractor and Construction Equipment. Passenger Car dominated the overall market with share of more than 58% in 2021.
By Fuel Type
The market is segmented as gasoline and diesel. Gasoline fuel type segment share more than over 49.5% in 2021 and is likely to expand at a CAGR nearly 8.5% over the forecast period.
By Technology Type
This market is segmented as VGT/VNT, Wastegate, and Twin Turbo. VGT / VNT is more efficient than traditional wastegate turbochargers and will continue to gain market share during the forecast period. VGT / VNT is well suited both for diesel as well as gasoline powered engines.
Regional analysis:
Asia-Pacific is likely to remain the largest market share of 11% CAGR for automotive turbochargers in the next five years, driven by demand in emerging economies, such as China and India. European market is likely to witness a market share of around 51.11% in 2021. This region owns the world’s largest turbo diesel fleet and the highest turbocharger installation rates worldwide.
About Stratview Research
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