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Turbocharger Market by Technology, Fuel Type, Application, Material and End-User: Global Opportunity Analysis and Industry Forecast, 2020-2027

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    Report

  • 309 Pages
  • April 2020
  • Region: Global
  • Allied Market Research
  • ID: 5118739
Description Jump to:
Turbocharger is an integral part of internal combustion (IC) engine, which improves its performance by increasing the amount of air intake in the combustion chamber with the help of ejected burnt air. An IC engine requires extra air for combustion of additional fuel for large power generation that decreases its efficiency, thus, turbocharger plays a significant role in enhancing the efficiency by supplying compressed air. The global turbocharger market is expected to exhibit a notable growth in the coming years as these chargers ensure optimum engine performance and enhanced fuel efficiency. Turbocharger particularly works best on high engine speed and does not require any power source to operate. It is driven by flow of burnt gases discharged by engine. Presently, this technology is majorly used in automotive and aerospace industries. For example, manufacturers employ turbochargers in engines of fast racing cars to generate high amount of power even under harsh and high temperature conditions.

With the rise in demand for vehicles, numerous players are trying to employ ecofriendly and energy efficient solutions in vehicle engines to reduce fuel consumption and atmospheric pollution.

Turbochargers reduce power loss and decrease emission of various gases from vehicles that cause air pollution. Moreover, turbochargers are compact in size, thereby, reducing overall size of engine and vehicle. The growing application of IC engines in motor vehicles and ongoing researches on implementation of turbochargers in other sectors is expected to create huge opportunities for turbocharger manufacturers. Turbochargers are expected to register a significant growth during the forecast period due to increased demand for better and efficient vehicles, in terms of propulsion and operations.

The global turbocharger market has been segmented on the basis of technology, application, industry vertical, fuel type, material, end-user, and region. By technology, the turbocharger market has been categorized into twin-turbo technology, waste-gate technology, and variable geometry technology (VGT). By application, turbochargers find application in light commercial vehicles, heavy commercial vehicles, ships & aircrafts, heavy duty vehicles, and locomotives. By industry vertical, the turbocharger market has been categorized into aerospace & defense, automotive, marine and agriculture & construction. By fuel type, it is segmented into gasoline and diesel. Cast Iron and Aluminum are different types of materials used for turbochargers. By end-user, the turbocharger market has been categorized into original equipment manufacturers (OEMs) and aftermarket players. Region wise, it has been studied across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed in the turbocharger market include BorgWarner Inc., Continental AG, Cummins Inc., EATON Corporation, Honeywell International Corporation, IHI Corporation, Mitsubishi Heavy Industries, Precision Turbo & Engine, Rotomaster International, and Turbo Dynamics Ltd.

KEY BENEFITS FOR STAKEHOLDERS
  • This study presents analytical depiction of the global turbocharger market along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers.

KEY MARKET SEGMENTS

By Technology
  • Twin-turbo Technology
  • Wastegate Technology
  • Variable Geometry Technology (VGT)

By Application
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Ships & Aircrafts
  • Agriculture & Construction
  • Locomotives

By Fuel Type
  • Gasoline
  • Diesel

By Material
  • Cast Iron
  • Aluminum

By End-User
  • Original Equipment Manufacturer (OEMs)
  • Aftermarket

By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

KEY PLAYERS
  • BorgWarner Inc.
  • Continental AG
  • Cummins Inc.
  • EATON Corporation
  • Honeywell International Corporation
  • IHI Corporation
  • Mitsubishi Heavy Industries
  • Precision Turbo & Engine
  • Rotomaster International
  • Turbo Dynamics Ltd.

Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porter’S Five Forces Analysis
3.3.1. Low-To-High Bargaining Power of Suppliers
3.3.2. Low-To-Moderate Threat of New Entrants
3.3.3. Low-To-High Threat of Substitutes
3.3.4. Moderate-To-High Intensity of Rivalry
3.3.5. Moderate-To-High Bargaining Power of Buyers
3.4. Market Share Analysis, 2019 (%)
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Improved Engine Performance and Fuel Efficiency
3.5.1.2. Government Regulations
3.5.1.3. Engine Downsizing to Reduce Vehicle Weight
3.5.2. Restraints
3.5.2.1. Turbocharger Installation
3.5.2.2. Excessive Rise in Engine Temperature Owing to Overheating Issue in Turbochargers
3.5.3. Opportunities
3.5.3.1. Increasing Demand for Fuel Efficient Engines and Gasoline Engines
Chapter 4: Turbocharger Market, by Technology
4.1. Overview
4.2. Twin-Turbo Technology
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis by Country
4.3. Wastegate Technology
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis by Country
4.4. Variable Geometry Technology (Vgt)
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis by Country
Chapter 5: Turbocharger Market, by Application
5.1. Overview
5.2. Light Commercial Vehicle
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis by Country
5.3. Heavy Commercial Vehicle
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis by Country
5.4. Ships & Aircrafts
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Analysis by Country
5.5. Agriculture & Construction
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, by Region
5.5.3. Market Analysis by Country
5.6. Locomotives
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, by Region
5.6.3. Market Analysis by Country
Chapter 6: Turbocharger Market, by Fuel Type
6.1. Overview
6.2. Gasoline
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis by Country
6.3. Diesel
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis by Country
Chapter 7: Turbocharger Market, by Material
7.1. Overview
7.2. Cast Iron
7.2.1. Key Market Trends, Growth Factors and Opportunities
7.2.2. Market Size and Forecast, by Region
7.2.3. Market Analysis by Country
7.3. Aluminum
7.3.1. Key Market Trends, Growth Factors and Opportunities
7.3.2. Market Size and Forecast, by Region
7.3.3. Market Analysis by Country
Chapter 8: Turbocharger Market, by End-User
8.1. Overview
8.2. Original Equipment Manufacturers (Oems)
8.2.1. Key Market Trends, Growth Factors and Opportunities
8.2.2. Market Size and Forecast, by Region
8.2.3. Market Analysis by Country
8.3. Aftermarket
8.3.1. Key Market Trends, Growth Factors and Opportunities
8.3.2. Market Size and Forecast, by Region
8.3.3. Market Analysis by Country
Chapter 9: Turbocharger Market, by Region
9.1. Overview
9.2. North America
9.2.1. Key Market Trends, Growth Factors, and Opportunities
9.2.2. Market Size and Forecast, by Technology
9.2.3. Market Size and Forecast, by Application
9.2.4. Market Size and Forecast, by Fuel Type
9.2.5. Market Size and Forecast, by Material
9.2.6. Market Size and Forecast, by End-User
9.2.7. Market Analysis by Country
9.2.7.1. U. S.
9.2.7.1.1. Market Size and Forecast, by Technology
9.2.7.1.2. Market Size and Forecast, by Application
9.2.7.1.3. Market Size and Forecast, by Fuel Type
9.2.7.1.4. Market Size and Forecast, by Material
9.2.7.1.5. Market Size and Forecast, by End-User
9.2.7.2. Canada
9.2.7.2.1. Market Size and Forecast, by Technology
9.2.7.2.2. Market Size and Forecast, by Application
9.2.7.2.3. Market Size and Forecast, by Fuel Type
9.2.7.2.4. Market Size and Forecast, by Material
9.2.7.2.5. Market Size and Forecast, by End-User
9.2.7.3. Mexico
9.2.7.3.1. Market Size and Forecast, by Technology
9.2.7.3.2. Market Size and Forecast, by Application
9.2.7.3.3. Market Size and Forecast, by Fuel Type
9.2.7.3.4. Market Size and Forecast, by Material
9.2.7.3.5. Market Size and Forecast, by End-User
9.3. Europe
9.3.1. Key Market Trends, Growth Factors, and Opportunities
9.3.2. Market Size and Forecast, by Technology
9.3.3. Market Size and Forecast, by Application
9.3.4. Market Size and Forecast, by Fuel Type
9.3.5. Market Size and Forecast, by Material
9.3.6. Market Size and Forecast, by End-User
9.3.7. Market Analysis by Country
9.3.7.1. Germany
9.3.7.1.1. Market Size and Forecast, by Technology
9.3.7.1.2. Market Size and Forecast, by Application
9.3.7.1.3. Market Size and Forecast, by Fuel Type
9.3.7.1.4. Market Size and Forecast, by Material
9.3.7.1.5. Market Size and Forecast, by End-User
9.3.7.2. France
9.3.7.2.1. Market Size and Forecast, by Technology
9.3.7.2.2. Market Size and Forecast, by Application
9.3.7.2.3. Market Size and Forecast, by Fuel Type
9.3.7.2.4. Market Size and Forecast, by Material
9.3.7.2.5. Market Size and Forecast, by End-User
9.3.7.3. UK
9.3.7.3.1. Market Size and Forecast, by Technology
9.3.7.3.2. Market Size and Forecast, by Application
9.3.7.3.3. Market Size and Forecast, by Fuel Type
9.3.7.3.4. Market Size and Forecast, by Material
9.3.7.3.5. Market Size and Forecast, by End-User
9.3.7.4. Spain
9.3.7.4.1. Market Size and Forecast, by Technology
9.3.7.4.2. Market Size and Forecast, by Application
9.3.7.4.3. Market Size and Forecast, by Material
9.3.7.4.4. Market Size and Forecast, by Fuel Type
9.3.7.4.5. Market Size and Forecast, by End-User
9.3.7.5. Rest of Europe
9.3.7.5.1. Market Size and Forecast, by Technology
9.3.7.5.2. Market Size and Forecast, by Application
9.3.7.5.3. Market Size and Forecast, by Fuel Type
9.3.7.5.4. Market Size and Forecast, by Material
9.3.7.5.5. Market Size and Forecast, by End-User
9.4. Asia-Pacific
9.4.1. Key Market Trends, Growth Factors, and Opportunities
9.4.2. Market Size and Forecast, by Technology
9.4.3. Market Size and Forecast, by Application
9.4.4. Market Size and Forecast, by Fuel Type
9.4.5. Market Size and Forecast, by Material
9.4.6. Market Size and Forecast, by End-User
9.4.7. Market Analysis by Country
9.4.7.1. China
9.4.7.1.1. Market Size and Forecast, by Technology
9.4.7.1.2. Market Size and Forecast, by Application
9.4.7.1.3. Market Size and Forecast, by Fuel Type
9.4.7.1.4. Market Size and Forecast, by Material
9.4.7.1.5. Market Size and Forecast, by End-User
9.4.7.2. Japan
9.4.7.2.1. Market Size and Forecast, by Technology
9.4.7.2.2. Market Size and Forecast, by Application
9.4.7.2.3. Market Size and Forecast, by Fuel Type
9.4.7.2.4. Market Size and Forecast, by Material
9.4.7.2.5. Market Size and Forecast, by End-User
9.4.7.3. India
9.4.7.3.1. Market Size and Forecast, by Technology
9.4.7.3.2. Market Size and Forecast, by Application
9.4.7.3.3. Market Size and Forecast, by Fuel Type
9.4.7.3.4. Market Size and Forecast, by Material
9.4.7.3.5. Market Size and Forecast, by End-User
9.4.7.4. South Korea
9.4.7.4.1. Market Size and Forecast, by Technology
9.4.7.4.2. Market Size and Forecast, by Application
9.4.7.4.3. Market Size and Forecast, by Fuel Type
9.4.7.4.4. Market Size and Forecast, by Material
9.4.7.4.5. Market Size and Forecast, by End-User
9.4.7.5. Rest of Asia-Pacific
9.4.7.5.1. Market Size and Forecast, by Technology
9.4.7.5.2. Market Size and Forecast, by Application
9.4.7.5.3. Market Size and Forecast, by Fuel Type
9.4.7.5.4. Market Size and Forecast, by Material
9.4.7.5.5. Market Size and Forecast, by End-User
9.5. LAMEA
9.5.1. Key Market Trends, Growth Factors, and Opportunities
9.5.2. Market Size and Forecast, by Technology
9.5.3. Market Size and Forecast, by Application
9.5.4. Market Size and Forecast, by Fuel Type
9.5.5. Market Size and Forecast, by Material
9.5.6. Market Size and Forecast, by End-User
9.5.7. Market Analysis by Country
9.5.7.1. Latin America
9.5.7.1.1. Market Size and Forecast, by Technology
9.5.7.1.2. Market Size and Forecast, by Application
9.5.7.1.3. Market Size and Forecast, by Fuel Type
9.5.7.1.4. Market Size and Forecast, by Material
9.5.7.1.5. Market Size and Forecast, by End-User
9.5.7.2. Middle East
9.5.7.2.1. Market Size and Forecast, by Technology
9.5.7.2.2. Market Size and Forecast, by Application
9.5.7.2.3. Market Size and Forecast, by Fuel Type
9.5.7.2.4. Market Size and Forecast, by Material
9.5.7.2.5. Market Size and Forecast, by End-User
9.5.7.3. Africa
9.5.7.3.1. Market Size and Forecast, by Technology
9.5.7.3.2. Market Size and Forecast, by Application
9.5.7.3.3. Market Size and Forecast, by Fuel Type
9.5.7.3.4. Market Size and Forecast, by Material
9.5.7.3.5. Market Size and Forecast, by End-User
Chapter 10: Company Profiles
10.1. Continental Ag.
10.1.1. Company Overview
10.1.2. Company Snapshot
10.1.3. Operating Business Segments
10.1.4. Product Portfolio
10.1.5. Business Performance
10.1.6. Key Strategic Moves and Developments
10.2. Borgwarner Inc.
10.2.1. Company Overview
10.2.2. Company Snapshot
10.2.3. Operating Business Segments
10.2.4. Business Performance
10.2.5. Key Strategic Moves and Developments
10.3. Cummins Inc.
10.3.1. Company Overview
10.3.2. Company Snapshot
10.3.3. Operating Business Segments
10.3.4. Business Performance
10.3.5. Key Strategic Moves and Developments
10.4. Eaton
10.4.1. Company Overview
10.4.2. Company Snapshot
10.4.3. Operating Business Segments
10.4.4. Product Portfolio
10.4.5. Business Performance
10.5. Honeywell International Inc.
10.5.1. Company Overview
10.5.2. Company Snapshot
10.5.3. Operating Business Segments
10.5.4. Business Performance
10.5.5. Key Strategic Moves and Developments
10.6. Ihi Corporation
10.6.1. Company Overview
10.6.2. Company Snapshot
10.6.3. Operating Business Segments
10.6.4. Product Portfolio
10.6.5. Business Performance
10.6.6. Key Strategic Moves and Developments
10.7. Mitsubishi Electric Corporation
10.7.1. Company Overview
10.7.2. Company Snapshot
10.7.3. Operating Business Segments
10.7.4. Product Portfolio
10.7.5. Business Performance
10.7.6. Key Strategic Moves and Developments
10.8. Precision Turbo & Engine
10.8.1. Company Overview
10.8.2. Company Snapshot
10.8.3. Product Portfolio
10.9. Rotomaster International
10.9.1. Company Overview
10.9.2. Company Snapshot
10.9.3. Product Portfolio
10.10. Turbo Dynamics Ltd.
10.10.1. Company Overview
10.10.2. Company Snapshot
10.10.3. Operating Business Segments

Executive Summary

According to the report titled, 'Turbocharger Market by Technology, Application, Fuel type, Material, and End User: Opportunity Analysis and Industry Forecast, 2020-2027', the global turbocharger market was valued at $16.13billion in 2019, and is projected to reach $24.23 billion by 2027, registering a CAGR of 5.3% from 2020 to 2027.

Asia-Pacific dominated the market in terms of growth in the year 2019, followed byNorth America, Europe and LAMEA.China dominated the global turbocharger market share in 2019, where as India is expected to grow at a significant rate in the turbocharger market during the forecast period.

Turbocharger is an integral part of internal combustion (IC) engine, which improves its performance by increasing the amount of air intake in the combustion chamber with the help of ejected burnt air. An IC engine requires extra air for combustion of additional fuel for large power generation that decreases its efficiency, thus, turbocharger plays a significant role in enhancing the efficiency by supplying compressed air. The global turbocharger market is expected to exhibit a notable growth in the coming years as these chargers ensure optimum engine performance and enhanced fuel efficiency.

Turbochargers swiftly gained popularity as they find wide applications in light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotives, owing to several benefits such as enhanced fuel-efficiency and improved engine performance in terms of power and output. In addition, they also help automakers to meet regulatory standards regarding carbon emission. For instance, the government of Europe imposed emission targets for new light commercial vehicles, wherein each vehicle is required to have a label stating its fuel efficiency and CO2 emission level.

With the rise indemand for vehicles, numerous players are trying to employ eco-friendly and energy efficient solutions in vehicle engines to reduce fuel consumption and atmospheric pollution. Turbochargers reduce power loss and decrease emission of various gases from vehicles that cause air pollution. Moreover, turbochargers are compact in size, thereby, reducing overall size of engine and vehicle. The growing application of IC engines in motor vehicles and on going researches on implementation of turbochargers in other sectors is expected to create huge opportunities for turbocharger manufacturers.

Current trend for the installation of better and efficient turbochargers in vehicles has increased due to its advantages such as better and increased vehicle efficiency. This has enabled turbocharger manufacturers to make continuous enhancements in existing turbochargers, therefore, boosts the turbochargers market growth.

Factors such as improved engine performance and fuel efficiency, government regulations and engine downsizing to reduce vehicle weight drive the growth of the turbocharger market. Moreover, turbocharger installation and excessive rise in engine temperature, owing to overheating issues in turbochargers are the factors expected to hamper the growth of the turbocharger market. However, rise in demand for fuel efficient engines and gasoline engines is expected to supplement the growth of the turbocharger market during the forecast period.

Key Findings Of The Study

By technology, the twin-turbo technology turbocharger generated the highest revenue in 2019.
By application, the light commercial vehicle segment was the highest revenue contributor in 2019.
By region, Europe contributed for the highest market share in 2019, followed by Asia-Pacific, North America, and LAMEA.
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

The key players analyzed in this report are BorgWarner Inc., Continental AG, Cummins Inc., EATON Corporation, Honeywell International Corporation, IHI Corporation, Mitsubishi Heavy Industries, Precision Turbo & Engine, Rotomaster International and Turbo Dynamics Ltd.

Companies Mentioned

  • BorgWarner Inc.
  • Continental AG
  • Cummins Inc.
  • EATON Corporation
  • Honeywell International Corporation
  • IHI Corporation
  • Mitsubishi Heavy Industries
  • Precision Turbo & Engine
  • Rotomaster International
  • Turbo Dynamics Ltd

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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