In a recent published report, Kenneth Research has updated the market report for Turbocharger Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Turbocharger Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Turbocharger Market is estimated to reach $28.1 Billion by 2025; growing at a CAGR of 12.3% from 2017 to 2025. Turbochargers provide high efficiency, robustness, reliability, and compact packaging in heavy duty vehicles. Turbocharger also offer several key benefits in heavy duty vehicle engine such as more power, improved output, and greater fuel efficiency, which necessitates the higher demand of turbochargers in heavy duty vehicle segment. Turbochargers are believed to be the most significant automotive equipment in present time not only to boost but to intensify the efficiency of the engines in terms of power and output. They are utilized by various vehicle manufacturers and also by the companies operating in aftermarket individual customers. In addition, increase in purchasing power of consumers and customization performance offered by turbocharger petrol engine have fueled the growth of the turbocharger in respect to OEM market.
The growth of the global turbocharger market is driven by rise in demand for fuel efficient and downsized engine, increasing government investment in construction projects, and modernization of agricultural sector. However, high cost of turbochargers as compared to traditional chargers is the major challenge for the market. Moreover, enhanced performance of gasoline engine, which utilizes twin-turbo technology has led automakers to include turbochargers in their vehicles, thereby providing huge opportunity for the growth of turbocharger market.
The market is segmented on the basis of technology, fuel type, end-user, application, industry verticals and geography. The technology segment is classified into twin turbo technology, wastegate technology, and variable geometry technology. On the basis of fuel type, turbocharger market is classified as gasoline and diesel. The end-user segment includes OEM and aftermarket. On the basis of application, the market is classified as light commercial vehicles, heavy commercial vehicles, ships & aircraft, heavy duty vehicles, and locomotive. The report also analyses various industry verticals that include aerospace & defense, automotive, marine, and agriculture & construction.
Based on geography, the global turbocharger market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is bifurcated into the U.S., Canada and Mexico, whereas Europe region has been further segmented into UK, Germany, France, Spain and Rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan, South Korea, and Rest of Asia Pacific. Rest of the World (RoW) includes South America, Middle East and Africa.
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Key players profiled in the report include Honeywell International Inc., IHI Corporation, Borg Warner Inc., Rotomaster International, Cummins Inc., Mitsubishi Heavy Industries Ltd., Eaton Corporation PLC, Continental AG, Precision Turbo & Engine, and Bosch Mahle Turbo System GmbH & Co. KG, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Turbocharger Market with respect to major segments such as technology, fuel type, end-user, application, and industry verticals
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Turbocharger Market has been included in the report
Profile of the key players in the Global Turbocharger Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Turbocharger Market
Technology Segments
Twin Turbo Technology
Wastegate Technology
Variable Geometry Technology
Fuel Type Segments
Gasoline
Diesel
End-User Segments
OEM
Aftermarket
Application Segments
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Light Commercial Vehicles
Heavy Commercial Vehicles
Ships & Aircraft
Heavy Duty Vehicles
Locomotive
Industry Verticals Segments
Aerospace & Defense
Automotive
Marine
Agriculture & Construction
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
2.1 Global Turbocharger Market Year-on-Year Growth, 2017 – 2025 (%)
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers
3.3.1.1 Impact Analysis
3.3.2 Restraints
3.3.2.1 Impact Analysis
3.3.3 Opportunities
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