A turbocharger is a forced induction system
which utilizes energy of exhaust gases from an engines via turbine. It helps in
an induction of a volume of air into combustion chamber. The power output of an
engine can be improved by increasing the volume of inlet fuel air mixture;
which could be easily attained with the use of turbochargers. It exploits the
energy of exhaust gases from an engine to compress the inlet air and feed it
into the engine to generate a better air to fuel ratio. Turbochargers are
considered to be a most important automotive accessories to increase an
efficiency of the engines in terms of power & output. It is used to meet
the norms & standards regarding the emission of exhaust gasses for instance
nitrous oxide, CO2, and particulate materials from the automobile.
According to study, “World
Turbocharger Market Research Report 2024(covering USA, EU, China, South
East Asia, Japan and etc)” the key companies operating in the world
turbocharger market are Honeywell International Inc., Eaton Corp., Cummins
Inc., BorgWarner and Inc., Continental AG, IHI Turbo America, Delphi
Technologies, Weifu Tianli, Bosch Mahle Turbo Systems GmbH, Rotomaster
International, Magnum Performance Turbos, Precision & Turbo, Mitsubishi
Heavy Industries, Hunan Tyen, Weifang Fuyuan, Kangyue, Zhejiang Rongfa, MHI,
Hunan Rugidove, Shenlong, Okiya Group. Key manufacturers are evolving
technologies in design & mechanism of turbochargers which would improve the
overall performance of the engine and make sure to decrease the less
consumption of the fuel.
Based on fuel type, turbocharger market is
segmented into gasoline engine turbocharger and diesel engine turbocharger.
Diesel engine is easier to modify for achieving optimum performance. Based on
technology, market is segmented into waste-gate technology, twin-turbo
technology and variable geometry technology (VGT). Twin-turbo technology holds
major share in market owing to its extensive usage in the automotive industry
as this technology facilitates improved fuel efficiency and engine performance,
primarily in light commercial vehicle. Based on material, market is segmented
into aluminum, cast iron and others. Based on sales channel, market is segmented
into aftermarket and OEM. Based on application, market is segmented into ships
& aircrafts, heavy commercial vehicle, light commercial vehicle,
locomotives and heavy duty vehicles. In addition, based on industry vertical,
market is segmented into marine, aerospace & defense, agriculture &
construction and automotive.
The turbocharger market is driven by
improvement in engine performance & fuel efficiency, followed by engine
downsizing to reduce vehicle weight, rise in goods transportation, increase in
focus towards driver & vehicle safety, and growth in government
regulations. However, engine overheating issues and turbocharger installation
may impact the market. Moreover, rise in demand for fuel efficient engines
& gasoline engines is a key opportunity for market.
Based on geography, Japan and China countries
hold major share in turbocharger market owing to growth in socio-economic
condition, rise in population and increase in commercial vehicle production in
the countries. USA and EU regions are expected to witness lucrative growth due
to rise in production of commercial vehicles and presence of large manufactures
over the forecast period. It is projected that future of the market will be
bright on account of rise in investments in research & development
(R&D) activities.
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