ALBANY, N.Y., April 21, 2022 (GLOBE NEWSWIRE) -- The global compressor wheel market is projected to expand at a CAGR of 3.78% during the forecast period of 2021 to 2031, according to analysts at Transparency Market Research (TMR).
People today are inclining more toward the use of vehicles that offer superior power output together with stringent emission limits. As a result, automakers from across the globe are increasing focus on the installation of automotive turbochargers in their vehicles. This factor is projected to boost sales of compressor wheels.
The demand for vehicles is increasing across the globe globally owing to reduced tax rates on vehicles. This factor is leading to revenue-generation opportunities in the market for compressor wheels.
Major enterprises operating in the global compressor wheel market are using strategies such as mergers and acquisitions in order to stay ahead of the competition. In addition, several companies in the global compressor wheel market are increasing focus on boosting their production capabilities in titanium compressor wheels, as these products are being gaining traction due to their ability to provide superior strength-to-thickness ratio, notes TMR report.
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Compressor Wheel Market: Key Findings
- Government bodies of several countries across the globe are increasing their financial support for the development of fully electric vehicles. These initiatives are projected to drive the global compressor wheel market during the forecast period.
- Players operating in the global compressor wheel market are developing innovative designs such as the super back that helps in stopping unnecessary wear and tear of the compressor wheel. In addition, the super back designs are being publicized, owing to their ability to assist in adding more material to the extremely stressed wheel area to address the issue of higher loads.
- Compressor wheel manufacturers from across the globe are focused on the development of superior designs, including deep super back–extended tip that allow for improved airflow while offering a rapid boost response at low engine speeds, according to TMR report on the global compressor wheel market.
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Compressor Wheel Market: Growth Boosters
- Government authorities of several nations globally are implementing stringent norms pertaining to carbon emissions. This factor is propelling the global compressor wheel market.
- Growing consumer inclination toward the use of vehicles with improved performance and fuel economy is resulting into revenue-generation opportunities in the compressor wheel market
Compressor Wheel Market: Regional Analysis
- The compressor wheel market in North America is projected to maintain its prominent position during the forecast period, owing to factors such as existence of leading suppliers and manufacturers in the region. Moreover, the growth of the North America market can be attributed to the presence of R&D facilities pertaining to compressor wheel in the region.
- The Asia Pacific compressor wheel market is expected to observe lucrative prospects in the upcoming years, owing to swift growth of manufacturing industries in the region
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Compressor Wheel Market: Key Players
Some of the key players profiled in the report are:
- BOOSTER Precision Components
- ABI Showatech Private Ltd.
- Changzhou E & E Turbo Power Co., Ltd.
- BorgWarner Inc.
- E&E Turbo
- Doncasters Group Ltd
- Jiangyin Uni-Pol Vacuum Casting India Pvt. Ltd.
- GARRETT MOTION INC.
- Nelcon Motor Company
- Melett North America Inc. (Melett Ltd.)
- Pacifica Power Sdn Bhd.
- Owen Developments
- TurboSystems
- PHESSIO TURBO
- UACJ Corporation
- Turbotech Precision Products Ltd
- Wabtec Corporation
- UNI-POL CHINA
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Compressor Wheel Market Segmentation
Fuel Type
- Gasoline
- Diesel
Diameter
- 20-40 mm
- 40-60 mm
- >60 mm
Vehicle
- Passenger Vehicle
- Commercial Vehicle
Method of Manufacturing
- Cast Compressor Wheels
- Forged Compressor Wheels (Billet)
Compressor Wheel Type
- Aluminum Compressor Wheel
- Titanium Compressor
- Stainless Steel Compressor Wheel
- Twing Blade Compressor Wheel
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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