The global turbocharger market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period. One of the key factors that are growing the market is the rising fuel prices of the fuel. Fuel prices have been growing for years, and with decreasing quantity and increasing demand, traveling via vehicles has become a huge investment in regular life. For instance, in April 2022, In just 17 days, the retail petrol prices revised upwards 14 times. From $ 1.24 (?95.41) on March 21, the retail petrol price in Delhi increased to $1.37 (?105.41) by April 7, 2022. The prices are projected to grow even more in the upcoming years, and this has increased the demand for the vehicle with a turbocharger which caused the ability to enhance the performance of the vehicle while increasing the mileage of the vehicle via increasing the air quantity in the air-fuel ratio.
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The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the uses of the vehicleand shut down most of the transportation services for a while. All this led to a decrease in the demand, and production activities in the turbocharger market. It caused market players a resistance in their regular sales. For instance, as per the financial report of Honeywell International, Inc.of 2020, the company’s total salesgrew by 3.6% as compared to the total sales of the company in 2019. However, as the situation got normal, Honeywell International, Inc. witnessed significant growth. As per the financial report of Honeywell International, Inc. in 2021, total sales increased by 5.0% as compared to the total sales of 2020.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global TurbochargerMarket Report Segment
By Industry
- Automotive
- Aerospace & Defense
- Marine
- Agriculture & Construction
By Technology
- Twin-Turbo Technology
- Variable Geometry Technology
- Wastegate Technology
By Sales Channel
- OEM
- Aftermarket
By Engine Type
- Diesel Engine
- Gasoline Engine
- Hybrid Engines
Global Turbocharger Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global turbocharger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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