Global Automotive Turbocharger Market Size, Share, Growth Analysis, By Fuel Type(Gasoline, Diesel), By Vehicle Type(Passenger Vehicle, Light Commercial Vehicle) - Industry Forecast 2024-2031

Global Automotive Turbocharger Market size was valued at USD 17.99 billion in 2022 and is poised to grow from USD 19.65 billion in 2023 to USD 39.70 billion by 2031, growing at a CAGR of 9.2% during the forecast period (2024-2031).

It allows them to reduce the size of the combustion engines, which could result in a fuel consumption reduction of over 30%. In addition, the technique provides improved engine performance, less CO2 emissions, and better fuel efficiency when compared to non-turbocharged engines. Because automotive engines use turbochargers, they can accelerate with little pedal effort and run at low engine loads. As one of the essential parts, it considerably reduces particulate matter emissions, leading to cleaner exhaust. The previously mentioned characteristics lead to decreased fuel consumption and less environmental impact. Growth in the current conventional turbocharger market is expected to be restricted by a mature sector, a rapid transition to hybrid vehicles, and stringent regulations. Better turbos for fuel cell and electric vehicles are now being developed by the leading companies, nevertheless, and this will result in a sizeable prospective market that may be served over the projected period. A sharp rise in car production and sales will be advantageous to the automobile industry's prospects. Over the past few decades, the automotive industry has grown to become more durable, dependable, adaptive, and efficient. Automakers and manufacturers of automotive products invest a great deal of money and resources globally, but particularly in developed nations.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Turbocharger Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Automotive Turbocharger Market Segmental Analysis

Global Automotive Turbocharger Market is segmented on the basis of fuel type, vehicle type and region. By fuel type, the market is segmented into gasoline, diesel, others. By vehicle type, market is segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Automotive Turbocharger Market

Stricter pollution rules and a growing emphasis on fuel economy are two of the main factors driving the use of automobile turbochargers. Smaller engines can produce the same amount of power as larger engines while using less fuel thanks to turbochargers. Turbochargers increase engine efficiency and decrease fuel consumption by compressing the incoming air.

Restraints in the Global Automotive Turbocharger Market

The delay in power delivery that happens when the engine's turbocharger takes some time to build up enough boost pressure is known as "turbo lag." Some drivers may find this lag concerning because it might cause a perceived lack of responsiveness and slower acceleration. Even though lag has decreased with advances in turbocharger technology, it is still a feature that can affect how a vehicle feels to drive.

Market Trends of the Global Automotive Turbocharger Market

Automakers are looking into two-stage and double turbocharger systems in order to meet the growing demand for high-performance vehicles. Several turbochargers, usually of varying capacities, are used in these systems in order to increase power and torque. Enhancement in engine performance across a broad RPM range, decreased turbo lag, and better throttle response can be obtained with two-stage and twin turbocharger configurations.