Turbocharger Market Report: Trends, Forecast and Competitive Analysis to 2030

Turbocharger Trends and Forecast

The future of the global turbocharger market looks promising with opportunities in the light commercial vehicle, heavy commercial vehicle, ships & aircrafts, agriculture & construction, and locomotives markets. The global turbocharger market is expected to reach an estimated $28.77 billion by 2030 with a CAGR of 7.1% from 2024 to 2030. The major drivers for this market are growing demand for fuel efficient engines and adopting engine downsizing strategies for enhanced vehicle weight reduction.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Turbocharger by Segment

The study includes a forecast for the global turbocharger by technology, fuel type, application, end use, and region.

Turbocharger Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Twin-Turbo Technology
• Wastegate Technology
• Variable Geometry Technology

Turbocharger Market by Fuel Type [Shipment Analysis by Value from 2018 to 2030]:

• Gasoline
• Diesel

Turbocharger Market by Application [Shipment Analysis by Value from 2018 to 2030]:

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

Turbocharger Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Original Equipment Manufacturer
• Aftermarket

Turbocharger Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Turbocharger Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies turbocharger companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the turbocharger companies profiled in this report include-

• Continental
• Eaton
• Precision Turbo & Engine
• Turbo Dynamics
• BorgWarner
• Honeywell International
• Cummins
• Rotomaster International
• MITSUBISHI ELECTRIC
• IHI

Turbocharger Market Insights

Lucintel forecasts that variable geometry technology will remain the largest segment over the forecast period due to improved fuel efficiency and lower emissions.

Within this market, light commercial vehicle will remain the largest segment due to increasing demand for fuel-efficient and environmentally friendly commercial vehicles.

APAC is expected to witness highest growth over the forecast period due to increase in installation of turbochargers in gasoline engines.

Features of the Global Turbocharger Market

Market Size Estimates: Turbocharger market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Turbocharger market size by various segments, such as by technology, fuel type, application, end use, and region in terms of value ($B).

Regional Analysis: Turbocharger market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technology, fuel type, application, end use, and regions for the turbocharger market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the turbocharger market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the turbocharger market size?

Answer: The global turbocharger market is expected to reach an estimated $28.77 billion by 2030.

Q2. What is the growth forecast for turbocharger market?

Answer: The global turbocharger market is expected to grow with a CAGR of 7.1% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the turbocharger market?

Answer: The major drivers for this market are growing demand for fuel efficient engines and adopting engine downsizing strategies for enhanced vehicle weight reduction.

Q4. What are the major segments for turbocharger market?

Answer: The future of the turbocharger market looks promising with opportunities in the light commercial vehicle, heavy commercial vehicle, ships & aircrafts, agriculture & construction, and locomotives markets.

Q5. Who are the key turbocharger market companies?

Answer: Some of the key turbocharger companies are as follows:

• Continental
• Eaton
• Precision Turbo & Engine
• Turbo Dynamics
• BorgWarner
• Honeywell International
• Cummins
• Rotomaster International
• MITSUBISHI ELECTRIC
• IHI

Q6. Which turbocharger market segment will be the largest in future?

Answer: Lucintel forecasts that variable geometry technology will remain the largest segment over the forecast period due to improved fuel efficiency and lower emissions.

Q7. In turbocharger market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to increase in installation of turbochargers in gasoline engines.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the turbocharger market by technology (twin-turbo technology, wastegate technology, and variable geometry technology), fuel type (gasoline and diesel), application (light commercial vehicle, heavy commercial vehicle, ships & aircrafts, agriculture & construction, and locomotives), end use (original equipment manufacturer and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?