Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Turbocharger Market by Diesel & Gasoline Turbo (VGT, Wastegate, e-Turbo), Component (Turbine Wheel, Compressor Wheel, Housing), Material, Off-Highway Equipment, Vehicle Type, Fuel Type, Aftermarket and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive turbocharger market is projected to grow from USD 15.2 billion in 2024 to USD 22.9 billion by 2030, at a CAGR of 7.1%.
The global automotive turbocharger market has experienced steady growth in recent years. Factors such as stringent emissions regulations, growing demand for TGDI technology, and demand for more fuel-efficient vehicles have fueled the advancement in automotive turbocharger technology. As automobile manufacturers and tier-1 suppliers prioritize fuel efficiency, emissions reduction, and performance, the development of automotive turbocharger technology is expected to play a vital role in the coming years.
Prominent companies BorgWarner Inc. (US), Garrett Motion Inc. (US), Mitsubishi Heavy Industries (Japan), IHI Corporation (Japan), and Cummins Inc. (US) are the leading manufacturers of automotive turbochargers in the global industry.
Gasoline passenger cars are leading the global automotive turbocharger market during the forecast period
Owing to the growing focus on a cleaner environment, OEMs have shifted from diesel to gasoline-passenger cars. This shift is not predominantly observed in the commercial vehicle segment. For instance, according to ACEA, the EU had 36.7% gasoline vehicles, which decreased to ~16% in 2022. Further, growing demand for passenger cars with gasoline engines is observed as there are stricter emission regulations on diesel engines and there is a decline in the growth of diesel-powered engines. Turbocharged GDI engines offer several advantages such as optimized fuel and combustion efficiency.
These enhanced GDI engines, with advanced engine design and turbocharging technology, have allowed OEMs to achieve higher levels of fuel efficiency while maintaining a consistent power and torque output. Europe has been at the forefront of gasoline-turbocharged vehicles in recent years. According to ACEA statistics, European gasoline cars grew by 10.6% compared to the previous year, with significant growth in key countries such as Italy (+24.9%) and Germany (+16.1%). The Asia Pacific and North American countries also noticed a sharp increase and are expected to maintain an upward trend. As gasoline engines are generally less expensive to manufacture and maintain than diesel engines with high-power output, the demand for an efficient and economical option with gasoline vehicles will continue to dominate in the coming future.
E-turbochargers are projected to be the fastest growing turbocharger type by 2030
The advent of electric turbochargers with advanced technological capabilities has shown a significant adoption rate in internal combustion engines with hybrid powertrains. The electric turbochargers boost torque at lower engine speeds, enhancing agility and optimizing acceleration, particularly from a standstill condition of the vehicle. An electric turbocharger can be operational with a 48 V battery architecture, eliminates turbo lag with reduced emissions, and improves fuel efficiency.
The electric turbocharger has huge potential, which is why it can be installed in light-duty vehicles (LDVs) and heavy commercial vehicles. For instance, the Mercedes-AMG SL 43 convertible, Mercedes-Benz S-Class, Mercedes-Benz S450, Audi SQ7, and Volvo XC90 T6 are some vehicle models offered with e-turbochargers. Although e-turbochargers cost more than wastegate and VGT technology, their application is limited to premium vehicles only. However, with the rising demand for hybrid vehicles within the premium price bracket, the demand for these vehicles installed with e-turbochargers will spur in the future, subsequently striving for the growth of the e-turbocharger market.
Europe is the second largest automotive turbocharger market
Europe has been at the forefront of turbocharger adoption for several years. Stringent emissions regulations and the demand for smaller, more fuel-efficient engines without compromising performance have driven the widespread adoption of turbocharging technology. Prominent OEMs such as Volkswagen AG, Mercedes-Benz, BMW, Stellantis N.V., and Renault have restricted the production of diesel passenger vehicles, thereby promoting the sales of gasoline and, electric and hybrid vehicles. This will prompt the growth of turbocharger technology installed in the GDI engines, mild-hybrid, and electric passenger cars.
On the other hand, a majority of LCVs and heavy commercial vehicles are still diesel-powered. According to ACEA publication 2023, light commercial vehicles, trucks, and buses are still dominant in the EU, with >90% of the fleets running on diesel. This demonstrates the strong position of diesel-powered vehicles in the commercial vehicle segment, and this trend is speculated to be constant during the reviewed period. This will propel the growth of diesel turbochargers in the region.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 331 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $15.2 Billion |
| Forecasted Market Value (USD) by 2030 | $22.9 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Premium Insights
- Stringent Emission and Fuel Economy Regulations to Drive Market
- Passenger Car Segment to Register Highest CAGR During Forecast Period
- Alternative Fuel/CNG to be Fastest-Growing Segment During Forecast Period
- VGT to be Leading Segment During Forecast Period
- Passenger Car Segment to Lead Market During Forecast Period
- e-Turbo to be Fastest-Growing Segmenting Forecast Period
- Cast Iron Material to Dominate Market During Forecast Period
- Agricultural Tractors Application to Lead Market During Forecast Period
- LCV Segment to Lead Market During Forecast Period
- Asia-Pacific to Dominate Market in 2024
Market Dynamics
- Drivers
- Strict Laws Related to NOx and CO2 Emission Levels
- Increasing Demand for Passenger Cars with Gasoline Engines
- Restraints
- High Maintenance Costs and Cooling Oil Requirements
- Increasing Adoption of Electric Vehicles
- Opportunities
- Development of Electric Turbochargers
- Challenges
- Turbo Lag
- Availability of Very Few Materials to Withstand High Temperature of Turbocharger Components
Case Study Analysis
- Development of e-Booster Technology by BorgWarner to Reduce Emissions
- Development of High-Efficiency Gas Engine with Two-Stage Turbocharging System by Mitsubishi Heavy Industries Ltd.
- Garrett Motion Developed e-Turbochargers for Passenger Cars
- Development of Key Technology for EU7- Hybridized Powertrain by Garrett
- Turbocharger Housing Design by IHI Corporation
- Development of Natural Gas Turbocharger Technology by Cummins Turbo Technologies
Technology Analysis
- Key Technologies
- Electric Turbochargers
- Two-Stage Turbochargers
- Adjacent Technology
- Turbocharger Speed Sensors
Companies Featured
- BorgWarner Inc.
- Garrett Motion Inc.
- Mitsubishi Heavy Industries Ltd.
- IHI Corporation
- Cummins Inc.
- BMTS Technology
- Vitesco Technologies GmbH
- Changchun Fawer-IHI Turbocharger Co. Ltd.
- Turbo Energy Private Limited
- Continental AG
- Rotomaster
- Ningbo Weifu Tianli Supercharging Technology Co. Ltd.
- Turbonetics Inc.
- Turbo International
- Kompressorenbau Bannewitz GmbH
- Magnum Performance Turbos
- Weifang Fuyuan Turbocharger Co. Ltd.
- Hunan Tyen Machinery Co. Ltd.
- Man Energy Solutions
- Keyyang Precision Co. Ltd.
- Fuyuan Turbocharger Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/pg7df5
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