A turbocharger is also called as turbo is a form of supercharger which is basically a gas compressor used to force air into internal combustion engine. It helps to increase amount of air entering into engine to create power. Automotive turbochargers allow smaller engines to produce much more power relative to their size. Turbochargers are helpful in automotive industry to meet standards regarding emission of harmful gases such as, CO2, nitrous oxide, and others in the vehicles.
Technological advancements in automotive industry helps to integrate turbochargers into engines to improve efficiency and performance of engine, which is expected to drive growth of the global automotive turbocharge market over the forecast period. In addition, fuel efficiency and environment emission regulations in various developed as well as in developing countries force manufacturers to reduce vehicle weight or downsize engine to achieve targets.
However, increasing preference for electric vehicles, owing to support provided by the government for the promotion of electric vehicle usage is expected to hamper growth of the target market over the forecast period. In addition, excess oil consumption when turbochargers get overheated is another factor limiting growth of the target market.
Recent advancement in global automotive turbocharger market include introduction of a variable nozzle technology turbocharger–an advanced variable geometry turbocharger by Honeywell International Inc., which offers better performance with its valve design. In addition, company launched two-stage diesel engine turbocharger with variable geometry as well as wastegate technology to reduce emissions and improve performance engine.
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The global automotive turbocharger market is segmented on the basis of engine, vehicle type, sales channel, and region. On the basis of engine, the market is segmented into diesel engine and gasoline engine. On the basis of vehicle type, the market is segmented into light vehicles and heavy vehicles. On the basis of sales channel, the market is segmented into OEM and aftermarket.
On the basis of region, the global automotive turbocharger market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is expected to dominate in terms of revenue.
Key players in the global telepresence equipment market include BorgWarner Inc., Honeywell International Inc., IHI Corporation, Cummins Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., Continental AG, Bosch Mahle Turbo Systems GmbH & Co. KG, Rotomaster International, and Precision Turbo & Engine Rebuilders, Inc.