The global turbocharger market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period (2022-2028). One of the key factors that are fueling the market is the growing competitiveness between the market players. With several key players in the market, companies are advancing, innovating, and launching new products to stay in the competition. For instance, In November 2020, Cummins launched a new compressor stage to the Series 800 Holset turbocharger. The Series 800 Turbocharger takes a jump forward and has been revitalized to bring note worthy improvements in performance, temperature capability, flow range, and seal robustness.
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Furthermore, in August 2020, Cummins Turbo Technologies (CTT), another manufacturer of commercial turbochargers, developed the 7th generation of 400 series Variable Geometry Turbocharger (VGT) to help engine producers meet forthcoming emission standards and offer efficient fuel economy. Additionally, in October 2019, Garrett Motion Inc. developed E-Turbo for mass-market passenger vehicles with an addition of a small electric motor on the shaft between two wheels to enhance the turbo immediately off idle. This eliminated lags between the times a driver executes the accelerator and felt acceleration. Electrification removed design constraints, prioritizing turbine effectiveness at low engine speeds to drive the compressor. This has increased better options available for end-users and increased the demand for various turbochargers.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Industry
o By Technology
o By Sales channel
o By Engine Type
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including BorgWarner, Inc., Continental AG, Cummins, Inc., Mitsubishi Heavy Industries Engine & Turbocharger, Ltd., Honeywell International, Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Turbocharger Market Report Segment
By Industry
- Automotive
- Aerospace & Defense
- Marine
- Agriculture & Construction
By Technology
- Twin-Turbo Technology
- Variable Geometry Technology
- Waste gate Technology
By Sales Channel
- OEM
- Aftermarket
By Engine Type
- Diesel Engine
- Gasoline Engine
- Hybrid Engines
