Automotive Turbocharger Market 2018 Report Segments Global Automotive Turbocharger Market by Type (Gasoline Engine, Diesel Engine, and New Energy Engine), By Application (Passenger Vehicle and Commercial Vehicle), and by Region - Global Forecast to 2023. The global automotive turbocharger market is expected to reach USD 24,223.3 million by 2023 with 7.97% CAGR.

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Automotive Turbocharger Highlights:

The key players in global automotive turbocharger market are Honeywell International Inc. (U.S.), BorgWarner Inc. (U.S), Mitsubishi Heavy Industries, Ltd (Japan), IHI Corporation (Japan), Continental AG (Germany), Cummins, Inc.( U.S.), Bosch Mahle(Germany), Bullseye Power, LLC (U.S.), Precision Turbo and Engine(U.S.) and Fengcheng Xindongli Turbocharger Co., Ltd.( China).

The vehicle production is growing, which in turn would push the demand for turbocharged vehicles. Moreover, factors such as increase in vehicle production, large population base, growing demand for diesel vehicles, upcoming emission norms, and economic shifts are driving the Asia-Pacific turbocharger market. North America accounted for the second largest market during the forecast period due to increase in demand of the new vehicles. The factor that are responsible for the growth of automotive turbocharger market are continuous growth in global automotive industry and stringent vehicle emission regulations. Many stringent policies have been imposed worldwide in recent years to reduce negative effects on environment due to which the demand for turbocharger is increasing. The amended rules will apply to all vehicles run on petrol, CNG, LPG, electric, diesel and hybrid. The factor responsible for the increase in vehicle sales, is the macroeconomic development and the rise in the global middle class consumers.

Asia-Pacific accounted for the largest market share of 40.75% in 2016 due to increase in the vehicle production in developing countries such as India and China. The demand for turbochargers is largely dependent on vehicle production in developing countries such as India and China. The vehicle production is growing, which in turn would push the demand for turbocharged vehicles. Moreover, factors such as increase in vehicle production, large population base, growing demand for diesel vehicles, upcoming emission norms, and economic shifts are driving the Asia-Pacific turbocharger market. China accounted for the largest market share with a market value of USD 2,862.6 million and is projected to grow at the highest CAGR of 9.65% during the forecast period.

Global automotive turbocharger market has very broad market in coming recent years. MRFR analysts has predicted that automotive industry is about to grow at a rapid pace, moreover, the speedy rising sales of passenger cars and technological innovations have also been a growth momentum.

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