Many car manufacturers consider turbochargers to be a viable option to keep fossil fuel engines cleaner, thus, increasing the share of turbocharged vehicles every year. At the current pace, about half of the cars rolling out of production are expected to be turbocharged by 2022; thereby, influencing the automakers and the tier 1 suppliers to introduce more technologically advanced products. The market for turbochargers is estimated to reach USD 10 billion by 2018.
Recently, Honeywell introduced Variable Nozzle Technology turbocharger, which is an advanced variable geometry turbocharger. With its advanced valve design, the turbocharger offers better performance at, both, high and low-speed conditions. Moreover, the company has launched a two-stage diesel engine turbocharger with, both, variable geometry and waste gate technology, in order to enhance the performance, and reduce emissions from the engine.
CLEANER DIESEL ENGINES
Automotive emission regulation is the major factor that is fuelling the introduction of cleaner and low-emission vehicles among automakers. Turbocharger is the component that is used by the auto industry to make engines compliant with the stringent emission standards. The emission regulation authorities, who focus on cutting down the CO2 emission, are replacing existing naturally aspirated engines with turbocharged engines. Though other technologies, such as EGC, SCR, etc., are focusing on emission reduction, the emission standards are getting tougher generation after generation, thus, forcing carmakers to opt for turbocharged engines. The dependence of transportation industry on diesel engines, especially for heavy-duty performances, is a primary driver for the turbocharger market.
INCREASING ALTERNATIVE ENERGY VEHICLES
The electric vehicles, which were considered as an impractical alternative to the fossil fuel engines, are witnessing a global demand. These vehicles registered almost 20,000 sales in 2012 and are expected to reach two million in 2018. The growing electric vehicle industry is a great threat to the fossil fuel-based power generators and the dependent automotive turbochargers market. Moreover, governmental incentives, taken for the electric vehicles, are helping auto industry in their shift from combustion engines to electric powered vehicles. Though electric vehicles are not a viable alternative to the heavy-duty vehicles, in turn resulting in continuous usage of IC engines in these vehicles, which will have a considerable positive impact on the turbocharger market.
Source: Statista / Mordor Intelligence Analysis
Emission Regulation is the major factor, which is driving the turbocharger market. Though most of the countries are concerned about the environmental effects of the automotive emissions, regions like Europe and North America are focusing on emission regulations.
The Euro standards are considered to be the toughest and are followed in countries such as China, and India. These stringent Euro standards are the reasons for vehicles, in the European region, to be turbocharged. Almost every 2 out of 3 vehicles in Europe are turbocharged and is expected to be 3 out of every 4, by 2022. China, owing to its overriding environmental concerns, is poised to be the fastest growing market for turbochargers, followed by India.
Major companies operating in the Automotive Turbocharger Market Include: Honeywell, BorgWarner and IHI CSI.
REASONS TO PURCHASE THIS REPORT:
- Provides latest insights into the Global Turbo Charger Market.
- Gives a detailed analysis of the competitive landscape in the global turbo charger market.
- Analyzes the market scenario with the help of Porter’s Five Forces Analysis.
- Forecasts the market value by assessing the impact of the market drivers and constraints.
- Analyzes the impact of stringent emission norms on the turbo charger market
- Provides insights on the effects of growth in electric vehicles on the turbo charger market
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1.1 Study Deliverables
1.2 General Study Assumptions
2. Research methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Force Framework
4.3.1 Bargaining Power of Buyers
4.3.2 Bargaining Power of Supplier
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. Market Dynamics
5.1.1 Engine Downsizing
5.1.2 Stringent Emission Norms
5.2.1 Growth in Electric Vehicle Sales
5.2.2 High Maintenance Requirements
6. Global Agricultural Tractor Market Segmentation
6.1 By Engine Type
6.1.1 Diesel Engine
6.1.2 Gasoline Engine
6.2 By End Consumers
6.3 By Vehicle Type
6.3.1 Passenger Vehicles
6.3.2 Commercial Vehicles
6.4 By Geography
6.4.1 North America
188.8.131.52 Rest of North America
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
6.4.4 Rest of the World
22.214.171.124 South Africa
7. Competitive Landscape
7.2 Market Structure & Analysis
8. Company Profiles
8.1 Borgwarner Inc
8.2 Continental Ag
8.3 Cummins Inc
8.4 Delphi Technologies
8.5 Honeywell International Inc
8.6 Magnum Performance Turbos
8.7 Mitsubishi Heavy Industries Ltd
8.8 Precision Turbo and Engine
8.9 IHI Turbo America