Turbochargers Market Scope
A turbocharger is a turbine-driven forced induction device that increases power output and efficiency of the internal combustion engine by forcing extra compressed air into the combustion chamber. Increasing demand for fuel-efficient engines driving the demand for turbochargers. Market leaders are focusing on technological developments to improve the efficiency of the turbochargers. For instance, BorgWarner Inc. an American automotive industry components and parts supplier launches dual volute turbocharger for gasoline engines which provides a faster engine response time for light-duty vehicles. Further, increasing demand from industries such as mining, agriculture, heavy-duty construction, marine industry, and others expected to drive the demand for turbochargers over the forecasted period.
According to AMA, the Global Turbochargers market is expected to see growth rate of 9.8%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Turbochargers market throughout the predicted period.
MAN Energy Solutions (Germany), BorgWarner Turbo Systems (United States), Cummins Inc. (United States), Honeywell International Inc. (United States), Continental AG (Germany), Mitsubishi Heavy Industries (Japan), Napier Turbochargers (United Kingdom), Rotomaster International (Canada), Turbo Power Systems (United Kingdom), Aerocharger LLC. (United States), IHI Turbo America (United States) and Precision Turbo & Engine (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Turbonique (United States), Garrett - Advancing Motion (Switzerland) and Cobb tuning products LLC. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Turbochargers market , by Application (Light Commercial Vehicles, Heavy Commercial Vehicles, Ships & Aircraft, Heavy Duty Vehicles and Locomotive) and Region with country level break-up.
On the basis of geography, the market of Turbochargers 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).
18th February 2019, MAN Energy Solutions launches New TCT Turbocharger Series specifically optimized for Tier III operation. It is suitable for both conventional and dual-fueled, two- and four-stroke engines. And has application in both marine and power industry ranging from 6 MW up to 24 MW output per turbocharger.
Market Trend
- Emphasizing On Development of Turbocharger for Gasoline Engines
- Increasing Using Lightweight Material for Turbochargers
Market Drivers
- Increasing Demand From Automotive Industry
- Rising Demand for Electric Turbochargers
Opportunities
- Technological Developments to Develop Fuel-Efficient Engines
- Increasing Demand for Internal Combustion Engines in Numerous Industries Such As Mining, Marine, and Others
Restraints
- Complexity Involved In Installation Process
- Engine Overheating Issues Associated With Turbocharger
Challenges
- Growth of Electric or Battery-Operated Vehicles
Key Target Audience
Manufacturers of Turbochargers, Raw Material Suppliers for Turbochargers, The Automobile Industry as an End-Use Industry and Regional Automotive Associations, Traders, Distributors, and Suppliers of Turbochargers, Turbocharger Component Suppliers, Government Organization, Market Research Firms, Potential Investors and Others