About Electric Car Turbocharger
A turbocharger is an induction device that accelerates the power and efficiency of the internal combustion engine by forcing additional compressed air into the ignition chamber. The popularity of electric vehicles has been expanding rapidly due to government subsidies and increasing awareness about deteriorating air quality from transportation driving the demand for electric vehicles which is supplementing the growth of the electric car turbocharger market. Further, technological advancement in the turbochargers to improve overall efficiency and rising demand from the developing economies expected to fuel the growth of the electric car turbocharger market over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.2% |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Electric Car Turbocharger market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell (United States), BorgWarner (United States), Mitsubishi Heavy Industries (Japan), IHI (Japan), Continental (Germany), Bosch Mahle (Germany), Eaton (Ireland), Cummins (United States), ABB (Switzerland) and Delphi Technologies (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hunan Tyen (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Electric Car Turbocharger market by Type (Mono Turbo and Twin Turbo), Application (OEM and Aftermarket) and Region.
On the basis of geography, the market of Electric Car Turbocharger has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Retail will boost the Electric Car Turbocharger market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological advancement in the turbochargers and Government Initiatives to Promote Zero-Emission Vehicles
Market Growth Drivers:
Increasing Sale of Electric Vehicles and Growing Stringency in Emission Regulations
Challenges:
Development of Lightweight Material for Turbochargers
Restraints:
Lack of Awareness in the Emerging Economies
Opportunities:
Growing Electric Vehicle Industry and Rising Demand from the Developing Economies
Market Leaders and their expansionary development strategies
In October 2019, Garrett launched industry’s first electric turbocharger. The announcement comes as automakers turn to electrified engine technology that meets industry challenges for increased energy efficiency and new regulatory emission targets while still meeting consumer demands for better vehicle performance and affordability.
In October 2021, ABB launched an innovative all-in-one Electric Vehicle (EV) charger, which provides the fastest charging experience on the market. ABB’s new Terra 360 is a modular charger which can simultaneously charge up to four vehicles with dynamic power distribution.
Key Target Audience
Electric Car Turbocharger Manufacturers, Electric Car Turbocharger Distributors, Electronic Component Providers, Technology Providers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.