The global overall turbocharger market is anticipated to grow at a CAGR of 5.5% during the forecast period (2022-2028). A turbocharger (technically a turbosupercharger), colloquially known as turbo, is a turbine-driven, forced induction device that increases an internal combustion engine’s power output by forcing extra compressed air into the combustion chamber. A turbocharger is an integral part of internal combustion (IC) engine. An IC engine requires extra air for the combustion of additional fuel for large power generation decreases its efficiency, as the turbocharger plays a significant role in enhancing the efficiency by supplying compressed air.
Turbocharger particularly works best on high engine speed and does not require any power source to operate. It is driven by the flow of burnt gases discharged by the engine. For instance, manufacturers employ turbochargers in engines of fast racing cars to generate a high amount of power even under harsh and high-temperature conditions. With improved engine performance and fuel efficiency, government regulations, and the manufacturing of small size engines thereby reducing the weight of the vehicles are some of the driving factors for the growth of the global overall turbocharger market. Additionally, the rise in demand for fuel-efficient engines and gasoline engines are other driving factors that are boosting the growth of the market. However, turbocharger installation and excessive rise in engine temperature due to overheating issues in turbochargers are the restraining factors for the growth of the market.
Some major players in the market include Continental AG, BorgWarner Inc., and Cummins Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, product launches, and collaborations, to stay competitive in the market. For instance, in 2020, BorgWarner Inc. acquired Delphi Technologies Plc aiming to be a market leader in automotive systems manufacturing. Additionally, in November 2020, Continental AG announced the extension of its line of turbochargers for the aftermarket for BMW, MINI, and VW groups. These models use Continental AG’s sophisticated RAAX turbine technology, which improves engine response and reduces emission by increasing efficiency.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Technology
- By Fuel Type
- By Distribution Channel
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Continental AG, BorgWarner Inc., and Cummins Inc., among others.
A full report Overall Turbocharger Market of is available at: https://orionmarketreports.com/overall-turbochargers-market/1570/
Global Overall Turbocharger Market Report by Segment
By Technology
- Twin Turbo
- Wastegate
- Variable Geometry
By Fuel Type
- Gasoline
- Petrol
- Diesel
By Distribution Channel
- OEM
- Aftermarket
By Application
- Aerospace and Defense
- Automotive
- Marine & Agriculture
- Construction
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 has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- 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?
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