Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Turbocharger Market Outlook 2023-2036" report has been added to ResearchAndMarkets.com's offering.
The automotive industry is witnessing an impressive surge in the turbocharger market, attributable to the escalating demand for fuel-efficient vehicles with diminished emissions. Recent findings anticipate robust annual growth in this sector, highlighting significant advancements and the integration of cutting-edge technologies by key market players.
This report underscores the critical insights and future projections that are pivotal for strategic decision-making processes within this sector. The report estimates a promising increase from USD 11.6 billion in 2023 to USD 30.9 billion by 2036.
Within the detailed segmentation of the automotive turbocharger market, emphasis is placed on the passenger cars segment, which is forecast to dominate revenue projections by 2036 with an estimated USD 21.9 billion. This segment has experienced substantial growth driven by heightened demands for performance and efficiency in consumer vehicles.
Geographical Insights Highlight Asia-Pacific’s Dominance
- The Asia-Pacific region is positioned as the geographical front-runner in the global automotive turbocharger market, set to achieve the highest revenue by 2036.
- The market in this region echoes the global environmental concerns and resultant regulatory frameworks aimed at curbing emissions and boosting sustainability in the automotive sphere.
This comprehensive analysis also sheds light on the thriving automotive turbocharger aftermarket. Vehicle owners worldwide are increasingly opting for turbochargers as an effective solution to enhance engine performance while adhering to stringent emission norms.
Industry Leadership and Innovations
Further insights compiled in the report feature prominent industry leaders who are making significant strides in shaping the turbocharger landscape. These leaders are recognized for their innovative spirit and influence on market growth dynamics.
As global environmental policies become more definitive and consumer preferences tilt towards sustainable vehicular solutions, the automotive turbocharger market is poised for further expansion.
Companies Mentioned
- Cummins Inc.
- Rotomaster
- Continental AG
- BorgWarner Inc.
- MITSUBISHI HEAVY INDUSTRIES Ltd.
- Vitesco Technologies GmbH
- IHI Corporation
- Garrett Motion Inc.
- Bullseye Power Turbo Chargers
- Turbo Energy Private Limited (TEL)
For more information about this report visit https://www.researchandmarkets.com/r/6bi6n2
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