Industry Background:
A compressor wheel is a turbocharger that consists of a compressor wheel and exhaust gas turbine wheel by a solid shaft, it boosts the intake air pressure of an internal combustion engine. This type of wheel is used in passenger vehicles and commercial vehicles, the compressor wheels are available in various materials such as aluminum, titanium, stainless steel, etc. The aluminum-made compressor wheels are low density weighing only one-third of the weight of steel.
According to AMA Research, the market for Compressor Wheel is expected to register a CAGR of 6.7% during the forecast period to 2030. This growth is primarily driven by Growing Demand for the Turbocharger in Automotive Industry
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as ABI Showatech Private Ltd. (India), BOOSTER Precision Components (Germany), Doncasters Group Ltd (United Kingdom), Melett Ltd (United States), BorgWarner Inc (United States), Turbo Systems (Lithuania), UACJ Corporation (Japan), Cummins Turbo Technologies (United Kingdom), Changzhou E & E Turbo-Power Co., Ltd. (China), Garrett Motion Inc. (Switzerland), Nelcon Motor Co. (India) and PHESSIO TURBO (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2023, Howden, a leading air and gas technology company, announced the expansion of its compressor wheel manufacturing facility in Texas. This expansion aims to increase production capacity for oil and gas compressor wheels.
On 25th March 2021, Cummins introduces advanced series 150 holset wastegate (WG) turbocharger. Featuring the latest wastegate technology, the Series 150 caters to typical truck applications for the on-highway light-duty commercial vehicle market with engines ranging from 2.8L to 3.8L. This turbocharger has a standard pneumatic wastegate mechanism and can be easily integrated with electric wastegates.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Regulatory Insights:
"For that purpose, considerations are given to the investigation of the resulting stresses, strains, and displacements resulting from the on-wheel centrifugal, aerodynamic, and thermal loading conditions. The study is based on both a mathematical and a finite element analysis (FEA). Fatigue life assessment of the compressor wheel is also investigated in an attempt to determine its durability (lifetime assessment) by comparing the stress analysis results obtained for three different aluminum alloys, namely (AA 2618, Ti-6Al-4V, and C355)."
Influencing Trend:
Technological Advancement in the Compressor Wheel
Market Growth Drivers:
Growing Demand for the Turbocharger in Automotive Industry and Need for Efficiency to Boost the Intake Air Pressure of an Internal Combustion Engine in a Vehicle
Challenges:
Stiff Competition in the Compressor Wheel Market
Restraints:
Regulatory Guidelines and Standards on Compressor Wheel
Opportunities:
Surging Demand for Compressor Wheel with Development of Economical and Efficient Engines
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Compressor Wheel Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Compressor Wheel Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Compressor Wheel players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Compressor Wheel Study Sheds Light on
The Compressor Wheel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Compressor Wheel industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Compressor Wheel industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.